# Overlay Shares Small Cap Equity ETF (OVS): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ovs for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Overlay Shares · Asset class: Equity - Strategy: Passive Index · Inception: 2019-09-30 OVS selects other ETFs in the U.S. small cap equity space to provide long exposure. In addition, the fund sells short put options at a strike below the level of the S&P 500 Index and buys put options below the strike price of the short put options. Fund allocations are based on a quantitative methodology based on the perceived risk of the broad U.S. equity market. The Adviser considers various factors including overall market volatility, a qualitative assessment of potential risk/reward scenarios, and mitigating the effects of volatility in the funds portfolio. In a rising or sideways U.S.... ## Key Facts | Metric | Value | |---|---| | Price | $38.77 | | Expense Ratio | 0.83% | | Assets Under Management | $42.7M | | NAV | $39.19 | | Holdings Count | 11 | | Distribution Yield (TTM) | 9.22% | | Annual Distribution (TTM) | $3.57 /share | | Distribution Frequency | Monthly | | 52-Week Range | $33.14 – $43.03 | | Beta | 1.16 | ## Latest Distribution - Amount: $0.3434 /share - Ex-date: 2026-09-29 - Pay date: 2026-09-30 ## Frequently Asked Questions ### What does OVS invest in? OVS selects other ETFs in the U.S. small cap equity space to provide long exposure. In addition, the fund sells short put options at a strike below the level of the S&P 500 Index and buys put options below the strike price of the short put options. Fund allocations are based on a quantitative methodology based on the perceived risk of the broad U.S. equity market. The Adviser considers various factors including overall market volatility, a qualitative assessment of potential risk/reward scenarios, and mitigating the effects of volatility in the funds portfolio. In a rising or sideways U.S. equity market, the strategy seeks to provide a positive performance return along with additional income. In a declining U.S. equity market, or periods of increased volatility, the loss potential could be greater than the profit potential. ### What is the expense ratio of OVS? Overlay Shares Small Cap Equity ETF (OVS) charges an expense ratio of 0.83%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is OVS? Overlay Shares Small Cap Equity ETF (OVS) manages $42.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is OVS actively managed or an index fund? OVS is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (OVS's is 0.83%) because there's no security selection cost. ### When was OVS launched? Overlay Shares Small Cap Equity ETF (OVS) launched in September 2019 and is managed by Overlay Shares. ### How has OVS performed? OVS's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does OVS pay a dividend? Overlay Shares Small Cap Equity ETF (OVS) currently distributes little or no income. Trailing-twelve-month yield is 9.22%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does OVS pay dividends? Overlay Shares Small Cap Equity ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is OVS's dividend yield? OVS's trailing-twelve-month yield is 9.22%, calculated from the sum of dividends over the past year divided by the current price. ### When is OVS's next ex-dividend date? The most recently announced ex-dividend date for OVS was 2026-09-29. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will OVS's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.83% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does OVS charge its expense ratio? The expense ratio is deducted in tiny daily slices from OVS's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does OVS cost more than a fund like VOO? OVS is a passive index fund (current expense ratio 0.83%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to OVS? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as OVS (0.83%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/ovs - Distribution history: https://www.dividenddata.com/funds/ovs/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ovs/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ovs/expenses - Peer comparison: https://www.dividenddata.com/funds/ovs/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.