Overlay Shares Core Bond ETF
$19.75−0.23 (−1.15%)
- Expense ratio
- 0.79%
- Fund size
- $47M
- 1Y return
- +2.7%
- Yield · Last 12 months
- 7.17%
- Holdings
- 9
- Volume · 30D
- 0M sh
- NAV per share
- $19.94
- 52W range
The ETF.net OVB Grade
Score 55 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 65Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 68Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 33Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 37Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 67Category rank
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
- 9
- 100%
- AGG
Sectors
- Technology37.4%
- Financials12.2%
- Communication9.9%
- Consumer Discr.9.6%
- Health Care9.1%
- Industrials8.2%
- Cons. Staples4.6%
- Energy3.4%
- Utilities2.1%
- 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.
Returns run to the Sep 22, 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 | +1.3% |
| 1 month | −0.4% |
| 3 months | −0.8% |
| 1 year | +2.7% |
| 3 years | +6.4% |
| 5 years | −0.0% |
| 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 | +1.3% | |
| 2025 | +7.7% | |
| 2024 | +4.0% | |
| 2023 | +6.9% | |
| 2022 | −17.0% | |
| 2021 | +0.7% | |
| 2020 | +9.4% |
OVB in the news
ETF.net Research hasn’t filed on OVB yet — coverage lands here as it’s written.
OVB Dividends
- 7.17%
- $1.43
- $0.10 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 27, 2026 | Aug 28, 2026 | $0.10 |
| Jul 29, 2026 | Jul 30, 2026 | $0.10 |
| Jun 26, 2026 | Jun 29, 2026 | $0.10 |
| May 27, 2026 | May 28, 2026 | $0.10 |
| Apr 28, 2026 | Apr 29, 2026 | $0.11 |
| Mar 27, 2026 | Mar 30, 2026 | $0.10 |
| Feb 25, 2026 | Feb 26, 2026 | $0.08 |
| Jan 28, 2026 | Jan 29, 2026 | $0.10 |
| Dec 23, 2025 | Dec 24, 2025 | $0.31 |
| Oct 3, 2025 | Oct 6, 2025 | $0.31 |
| Jul 3, 2025 | Jul 7, 2025 | $0.31 |
| Apr 3, 2025 | Apr 4, 2025 | $0.29 |
OVB Risk
- 7.3%
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.
- 0.17
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.
- −21.5%
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
- The middle half of Active Option Income funds
- Median 0.95%
15 of the 47 Active Option Income funds charge less.