Overlay Shares Core Bond ETF
$19.61−0.01 (−0.05%)
- 0.79%
- $47M
- +1.3%
- 6.22%
- 0M sh
- $19.59
- low $19.36high $21.11
The ETF.net OVB Grade
B
Score 58 out of 100
- 17 of 51
Score 58 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B65 out of 100Rank 17 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B66 out of 100Rank 14 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C50 out of 100Rank 26 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D37 out of 100Rank 33 of 42Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 13 of 51
Our read on OVB
BCore bonds with a twist: investment-grade U.S. debt measured against the Bloomberg U.S. Aggregate, plus a listed short-put overlay run for income. An active spin on the most commoditized corner of the bond market.
The Fund seeks total return through exposure to investment-grade, U.S.-dollar-denominated, fixed-rate taxable bonds. It also uses listed short-term put options in an overlay intended to generate income.
Why people hold it
- The overlay is the point: a conventional investment-grade bond sleeve, with listed short-term put options sold on top as an income mechanism. Few core bond funds bolt that on.
- The bond side stays in familiar territory: dollar-denominated, fixed-rate, taxable investment-grade debt, benchmarked to the Bloomberg U.S. Aggregate Bond Index.
- Actively managed inside a standard 1940 Act fund wrapper, and trading since 2019, so the strategy has operated across sharply different rate environments.
Worth knowing
- Cost is the trade-off: 0.79% a year against a 0.36% category median, while index Agg funds like AGG, BND and SPAB charge 0.03%. One of the priciest routes to core bond exposure here.
- Small fund, lightly traded. Spreads can run wider than the giant core bond ETFs, so limit orders matter more here.
- Selling puts collects premium in exchange for taking on downside if the underlying market drops, and distributions arrive on an irregular schedule rather than a fixed cadence.
OVB Holdings
- Bonds
- 1
- 100%
- AGG
Sectors
- Technology37.4%
- Financials12.2%
- Communication9.9%
- Consumer Discretionary9.6%
- Health Care9.1%
- Industrials8.2%
- Consumer Staples4.6%
- Energy3.4%
- Utilities2.2%
- Real Estate1.9%
- Materials1.6%
Geography
- United States100.00%
OVB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
OVB$10,131
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | OVB |
|---|---|
| Year to date | 0.0% |
| 1 month | −0.5% |
| 3 months | −2.2% |
| 1 year | +1.3% |
| 3 years | +6.5% |
| 5 years | +0.1% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | OVB |
|---|---|---|
| 2026 YTD | 0.0% | |
| 2025 | +7.7% | |
| 2024 | +4.0% | |
| 2023 | +6.9% | |
| 2022 | −17.0% | |
| 2021 | +0.7% | |
| 2020 | +9.4% |
OVB in the news
Category Review
The payout and the result came apart in option-income funds
OVB Dividends
- 6.22%
- $1.22
- $0.10 per share
- Monthly
Distribution history
OVB Risk
- 7.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.23
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −21.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.29
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
OVB Cost
0.79%
OVB0.79%
- The middle half of Active Option Income funds
- Median 0.95%
16 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- BYLDWWestwood Enhanced Income Opportunity ETFExpense ratio 0.79%1 year return —
- BGINXSGI Enhanced Global Income ETFExpense ratio 0.99%1 year return +26.0%
- BHBTAHorizon Expedition Plus ETFExpense ratio 0.85%1 year return +22.4%
- CBUYWMain BuyWrite ETFExpense ratio 0.99%1 year return +9.0%
- CCVRDMadison Covered Call ETFExpense ratio 0.92%1 year return +7.7%