SPSMvsOVSETF Comparison
VS
State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) belongs to the US Small Cap segment. Overlay Shares Small Cap Equity ETF (OVS) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: Finance, Technology and Industrials. SPSM is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.83% for OVS. SPSM is up 22.29% year-to-date (YTD) with +$1.13B in YTD flows. OVS performs better with 22.97% YTD performance, and +$16M in YTD flows. Run a side-by-side ETF comparison of SPSM and OVS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SPSM vs OVS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPSM OVS | -0.66%-1.57% | +8.13%+6.33% | +22.29%+22.97% | +31.51%+32.93% | +47.44%+52.55% | +45.47%+43.63% |
| Flows | SPSM OVS | +$369M+$4M | +$722M+$13M | +$1.13B+$16M | +$1.61B+$16M | +$4.23B+$22M | +$8.67B+$25M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPSM OVS | +15.12%+16.45% | +17.36%+19.00% | +20.27%+22.06% | +21.30%+23.07% |
| Max drawdown | SPSM OVS | -4.14%-4.19% | -8.68%-8.59% | -27.91%-30.33% | -27.91%-30.41% |
| Max drawdown duration | SPSM OVS | 16d16d | 59d36d | 380d380d | 380d995d |
Trading data
SPSM | OVS | |
Last sale 7/29/2026 at 3:10 PM | $56.37 | $41.89 |
| Previous close 07/28/2026 | $56.89 | $41.65 |
| Consolidated volume 07/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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OVS
is actively managed and doesn’t replicate an indexSPSM | OVS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/29/2026 at 3:10 PM
Live
Closed
SPSM | OVS | |
|---|---|---|
| Last price | $56.37 | $41.89 |
| 1D performance | -0.91% | +0.58% |
| AuM | $17.09 B | $34.95 M |
| E/R | 0.03% | 0.83% |
Characteristics
SPSM | OVS | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | Overlay Shares |
| Benchmark | S&P SmallCap 600 Index | - |
| N° of holdings | 601 | 602 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 8, 2013 | September 25, 2019 |
| ESG | No | No |
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Exposure
Countries
SPSM
USA
97.65%
Other
2.35%
OVS
USA
99.27%
Other
0.73%
Sectors
SPSM
Finance
25.55%
Technology
13.63%
Industrials
12.71%
Healthcare
12.13%
Consumer Cyclical.
7.95%
Other
28.04%
OVS
Finance
25.41%
Technology
13.56%
Industrials
12.65%
Healthcare
12.17%
Consumer Cyclical.
7.92%
Other
28.29%
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Diversification
SPSM
Total weight of top 15 holdings out of 15
8.15%
OVS
Total weight of top 15 holdings out of 15
9.63%
Top 15 holdings
Data as of June 30, 2026
SPSM
FormFactor, Inc.
0.68%
ViaSat, Inc.
0.66%
Molina Healthcare, Inc.
0.65%
Argan, Inc.
0.60%
BrightSpring Health Services, Inc.
0.60%
Element Solutions, Inc.
0.59%
MaxLinear, Inc.
0.58%
Krystal Biotech, Inc.
0.53%
ESCO Technologies, Inc.
0.49%
Match Group, Inc.
0.48%
Alkermes Plc
0.47%
Everus Construction Group, Inc.
0.46%
StoneX Group, Inc.
0.45%
Corcept Therapeutics, Inc.
0.45%
Ralliant Corp.
0.45%
OVS
BlackRock Cash Funds - Treasury
1.96%
FormFactor, Inc.
0.67%
ViaSat, Inc.
0.66%
Molina Healthcare, Inc.
0.64%
Argan, Inc.
0.60%
BrightSpring Health Services, Inc.
0.60%
Element Solutions, Inc.
0.59%
MaxLinear, Inc.
0.58%
Krystal Biotech, Inc.
0.53%
ESCO Technologies, Inc.
0.49%
Match Group, Inc.
0.48%
Alkermes Plc
0.47%
Everus Construction Group, Inc.
0.46%
StoneX Group, Inc.
0.45%
Corcept Therapeutics, Inc.
0.45%
Frequently asked questions about SPSM and OVS
How have the SPSM and OVS ETFs performed in 2026?
As of July 28, 2026, SPSM is up 22.29% year-to-date (YTD), while OVS has returned 22.97%. That puts OVS better performer ahead so far this year.
Which ETF is attracting more investor money: SPSM or OVS?
Year-to-date, the SPSM ETF saw +$1.13B in flows, compared to +$16M for OVS.
Which ETF is more volatile: SPSM or OVS?
Over the past year, SPSM had a volatility of 17.36%, while OVS experienced 19%.
Which ETF is bigger: SPSM or OVS?
As of July 28, 2026, SPSM holds $17.09 B in assets under management (AUM), while OVS manages $34.95 M.
What sectors do the SPSM and OVS ETFs invest in?
SPSM leans toward sectors like Finance, Technology and Industrials. Meanwhile, OVS focuses on Finance, Technology and Industrials.
What are the top holdings of the SPSM ETF and OVS ETF?
SPSM top holdings include FormFactor, Inc., ViaSat, Inc. and Molina Healthcare, Inc.. OVS holds in its top three: BlackRock Cash Funds - Treasury, FormFactor, Inc. and ViaSat, Inc..
Which ETF is more diversified: SPSM or OVS?
SPSM holds 603 securities with 8.15% of its assets in the top 15. OVS has 604 securities and a top 15 weight of 9.63%.
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