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: Industrials, Financials and Information Technology. SPSM is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.83% for OVS. SPSM is up 14.3% year-to-date (YTD) with +$445M in YTD flows. OVS performs better with 16.24% YTD performance, and +$2M 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 04/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPSM OVS | +13.50%+14.46% | +8.24%+9.43% | +14.30%+16.24% | +38.83%+44.22% | +53.35%+58.52% | +34.69%+34.36% |
| Flows | SPSM OVS | +$35M- | +$163M+$2M | +$445M+$2M | +$942M+$4M | +$6.03B+$9M | +$8.02B+$12M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPSM OVS | +18.23%+20.04% | +18.21%+19.71% | +20.59%+22.41% | +21.55%+23.33% |
| Max drawdown | SPSM OVS | -8.68%-8.40% | -8.68%-8.59% | -27.91%-30.33% | -27.91%-30.41% |
| Max drawdown duration | SPSM OVS | 59d59d | 59d36d | 380d380d | 380d995d |
Trading data
SPSM | OVS | |
Last sale 5/1/2026 at 1:30 PM | $53.48 | $40.11 |
| Previous close 04/29/2026 | $53.36 | $40.03 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 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 5/1/2026 at 1:30 PM
Live
Closed
SPSM | OVS | |
|---|---|---|
| Last price | $53.48 | $40.11 |
| 1D performance | +0.22% | +0.20% |
| AuM | $15.36 B | $20.40 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 | 559 | 559 |
| 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
95.92%
Other
4.08%
OVS
USA
97.78%
Other
2.22%
Sectors
SPSM
Industrials
16.29%
Financials
15.89%
Information Techn.
13.19%
Consumer Discreti.
13.16%
Health Care
10.13%
Other
31.34%
OVS
Industrials
16.26%
Financials
15.9%
Information Techn.
13.18%
Consumer Discreti.
13.15%
Health Care
10.11%
Other
31.4%
Diversification
SPSM
Total weight of top 15 holdings out of 15
7.33%
OVS
Total weight of top 15 holdings out of 15
8.22%
Top 15 holdings
Data as of March 31, 2026
SPSM
EASTMAN CHEMICAL
0.57%
ELEMENT SOLUTIONS INC
0.51%
PRIMORIS SERVICES
0.51%
VIAVI SOLUTIONS INC
0.50%
ARGAN
0.49%
FORMFACTOR
0.49%
LKQ
0.49%
JACKSON FINANCIAL INC
0.49%
ESCO TECHNOLOGIES
0.48%
MATCH GROUP
0.47%
CELANESE SR
0.47%
SEMTECH
0.47%
ARMSTRONG WORLD INDUSTRIES
0.46%
SANMINA CORP
0.46%
SM ENERGY
0.46%
OVS
US0669224778
1.36%
EASTMAN CHEMICAL
0.57%
ELEMENT SOLUTIONS INC
0.51%
PRIMORIS SERVICES
0.50%
VIAVI SOLUTIONS INC
0.50%
ARGAN
0.49%
LKQ
0.49%
FORMFACTOR
0.49%
JACKSON FINANCIAL INC
0.49%
ESCO TECHNOLOGIES
0.48%
MATCH GROUP
0.47%
CELANESE SR
0.47%
SEMTECH
0.46%
ARMSTRONG WORLD INDUSTRIES
0.46%
SANMINA CORP
0.46%
Frequently asked questions about SPSM and OVS
How have the SPSM and OVS ETFs performed in 2026?
As of April 30, 2026, SPSM is up 14.3% year-to-date (YTD), while OVS has returned 16.24%. 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 +$445M in flows, compared to +$2M for OVS.
Which ETF is more volatile: SPSM or OVS?
Over the past year, SPSM had a volatility of 18.21%, while OVS experienced 19.71%.
Which ETF is bigger: SPSM or OVS?
As of April 30, 2026, SPSM holds $15.36 B in assets under management (AUM), while OVS manages $20.40 M.
What sectors do the SPSM and OVS ETFs invest in?
SPSM leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, OVS focuses on Industrials, Financials and Information Technology.
What are the top holdings of the SPSM ETF and OVS ETF?
SPSM top holdings include EASTMAN CHEMICAL, ELEMENT SOLUTIONS INC and PRIMORIS SERVICES. OVS holds in its top three: US0669224778, EASTMAN CHEMICAL and ELEMENT SOLUTIONS INC.
Which ETF is more diversified: SPSM or OVS?
SPSM holds 601 securities with 7.33% of its assets in the top 15. OVS has 604 securities and a top 15 weight of 8.22%.
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