Keep tabs on your favorite ETFs with a personalized weekly tracker. Create a Watchlist now →
SPYvsOVLETF Comparison
SPDR S&P 500 ETF Trust (SPY) belongs to the US Large Cap segment. Overlay Shares Large Cap Equity ETF (OVL) is part of the Options Strategies segment. SPY's top 3 sector exposures are Information Technology, Communication Services and Financials. In contrast, OVL's top sector exposures are Information Technology, Communication Services and Consumer Discretionary. SPY is less expensive with a Total Expense Ratio (TER) of 0.0945%, versus 0.79% for OVL. SPY is down -2.87% year-to-date (YTD) with -$23.66B in YTD flows. OVL performs better with -2.21% YTD performance, and -$103K in YTD flows. Run a side-by-side ETF comparison of SPY and OVL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
SPY vs OVL performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPY OVL | -2.86%-2.69% | -2.43%-1.64% | -2.87%-2.21% | +21.51%+24.47% | +78.83%+85.93% | +78.92%+78.63% |
| Flows | SPY OVL | -$7.47B+$2M | -$29.32B-$2M | -$23.66B-$103K | -$39.53B-$17M | +$47.16B-$33M | +$67.44B-$10M |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPY OVL | +11.76%+14.52% | +18.17%+20.43% | +14.79%+16.96% | +16.81%+18.83% |
| Max drawdown | SPY OVL | -4.79%-4.80% | -13.71%-15.55% | -18.74%-21.55% | -24.50%-28.68% |
| Max drawdown duration | SPY OVL | 45d16d | 45d45d | 126d133d | 708d745d |
SPY | OVL | |
Last sale 3/13/2026 at 1:30 PM | $662.29 | $51.08 |
| Previous close 03/12/2026 | $666.06 | $51.54 |
| Consolidated volume 03/12/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Create an account to view replication metrics
SPY | OVL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
SPY | OVL | |
|---|---|---|
| Last price | $662.29 | $51.08 |
| 1D performance | -0.57% | -0.89% |
| AuM | $669.05 B | $173.84 M |
| E/R | 0.0945% | 0.79% |
SPY | OVL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | SPDR | Overlay Shares |
| Benchmark | S&P 500 Index | - |
| N° of holdings | 479 | 479 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 22, 1993 | September 25, 2019 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the SPY and OVL ETFs performed in 2026?
As of March 13, 2026, SPY is down -2.87% year-to-date (YTD), while OVL has lost -2.21%. That puts OVL better performer ahead so far this year.
Which ETF is attracting more investor money: SPY or OVL?
Year-to-date, the SPY ETF saw -$23.66B in flows, compared to -$103K for OVL.
Which ETF is more volatile: SPY or OVL?
Over the past year, SPY had a volatility of 18.17%, while OVL experienced 20.43%.
Which ETF is bigger: SPY or OVL?
As of March 13, 2026, SPY holds $669.05 B in assets under management (AUM), while OVL manages $173.84 M.
What sectors do the SPY and OVL ETFs invest in?
SPY leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, OVL focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the SPY ETF and OVL ETF?
SPY top holdings include NVIDIA, APPLE and MICROSOFT-T. OVL holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: SPY or OVL?
SPY holds 502 securities with 44.02% of its assets in the top 15. OVL has 503 securities and a top 15 weight of 43.91%.
MoneyShow Chart of the Day 1/21/2026: The "Sell America" Trade is Back. Will it Stick?
MoneyShow Chart of the Day 11/12/2025: With the Shutdown Behind Us, Will the Bulls Take Over?
MoneyShow Chart of the Day 11/06/2025: How Worried Should You REALLY be About this Chart?
MoneyShow Chart of the Day 10/29/2025: Yes, this Bull IS Still Young!
Active Trader Report: Use of Leveraged & Inverse ETFs Way Up
Direxion partnered with Compound Insights and Vanda to explore what’s driving the evolution of active trading — and how active traders are using leveraged and inverse funds across equities, single stocks, commodities, and volatility.
