OUSM vs SPYD: Grades, Fees and Holdings Compared

ALPS O'Shares U.S. Small-Cap Quality Dividend ETF

OUSMCNYSE Arca

State Street SPDR Portfolio S&P 500 High Dividend ETF

SPYDANYSE Arca

Overlap

4.3%by weight

Expense ratio

SPYD −0.41pt a year

OUSM0.48%SPYD0.07%

Avg volume · 30D

SPYD 17.1×the volume

OUSM58.6KSPYD1M

5Y return · a year

SPYD +0.8pt

OUSM+7.9%SPYD+8.7%

OUSM vs SPYD Performance

Oct 29, 2021 – Oct 30, 2026

+46.6%OUSM+52.1%SPYD

Expense ratio: OUSM 0.48%; SPYD 0.07%, better
Fund size: OUSM $810M; SPYD $7.61B
1Y total return: OUSM +13.9%; SPYD +20.6%, better
Yield (12M): OUSM 1.99%; SPYD 4.20%, better
Holdings: OUSM 111; SPYD 81
Avg volume (30D): OUSM 58.6K sh; SPYD 1M sh, better
NAV per share: OUSM $48.58; SPYD $48.88
52W range

ETF.net Grade

Pillar letters and Scores for OUSM, SPYD, with each pillar’s weight
Pillar	OUSM	SPYD
Cost30% weight	F22	A88Higher
Mission25% weight	A87	A88Higher
Risk15% weight	F19	C40Higher
Tradability15% weight	C52	A92Higher
Holdings10% weight	B68	A73Higher
Durability5% weight	C50	A83Higher

Rank among US Dividend Index funds

How we build Categories ›

Same Category. OUSM and SPYD are both graded against the same 52 US Dividend Index funds, so their Grades compare head to head.

US Dividend Index⁠

Category · 52 funds

See all 52 ›

SPYD ranks 4th and OUSM 40th of 52 funds in the US Dividend Index Category.

Rank 1ADGROiShares Core Dividend Growth ETFScore 86
Rank 2ASCHDSchwab U.S. Dividend Equity ETFScore 81
Rank 3ADIVBiShares Core Dividend ETFScore 80
Rank 4ASPYDState Street SPDR Portfolio S&P 500 High Dividend ETFScore 79
Rank 5AVIGVanguard Dividend Appreciation ETFScore 78
Rank 37CQDFNorthern Trust Quality Dividend ETFScore 49
Rank 40COUSMALPS O'Shares U.S. Small-Cap Quality Dividend ETFScore 48
Rank 40CTPHDTimothy Plan High Dividend Stock ETFScore 48

Our read on each fund

ETF.net Research

OUSMCALPS O'Shares U.S. Small-Cap Quality Dividend ETF

SPYDAState Street SPDR Portfolio S&P 500 High Dividend ETF

In short

OUSM Most dividend ETFs shop the large-cap aisle. OUSM works the small-cap end instead, screening for quality balance sheets, lower volatility and dividend growth, then paying out monthly.

SPYD Most dividend ETFs hunt for companies that keep raising payouts. SPYD skips the courtship and goes straight for the yield: roughly 80 high-dividend names out of the S&P 500, for 0.07% a year.

Stated mandate

OUSM OUSM seeks to track the performance of the O'Shares U.S. Small-Cap Quality Dividend Index before fees and expenses. Its portfolio consists of U.S. small-cap dividend-paying companies selected for quality, low volatility, and dividend-growth characteristics.

SPYD The fund seeks to provide returns that generally correspond to the total return of the S&P 500 High Dividend Index before fees and expenses.

Why people hold it

OUSM Small-cap and dividend rarely share a shelf. The index screens roughly 110 U.S. small caps for quality, low volatility and dividend growth, a corner the big dividend funds mostly skip.alpsfunds.com
Distributions land monthly rather than quarterly, an uncommon cadence for a stock fund.
Live since 2016 and still doing the one job on the label: track a small-cap quality dividend index, with no drift up into large caps.

SPYD 0.07% a year against a 0.39% median across dividend-screen peers. It undercuts DGRO's 0.08% and sits a hair above SCHD.
A pure yield screen, not a growth screen. Where VIG and DGRO buy payout raisers, SPYD takes the high-dividend end of the S&P 500. Different flavor of the same food group.
Running since 2015, now a multi-billion-dollar fund and one of the more actively traded names in its cohort, so getting in and out is rarely the hard part.
Pays quarterly and has tracked the S&P 500 High Dividend Index closely, which is the whole job for a fund like this.

Worth knowing

OUSM 0.48% a year is the toll for the small-cap screen. Large-cap dividend heavyweights in the same group, including SCHD, VIG and DGRO, charge a fraction of that.
Small caps swing harder than blue chips. The low-volatility screen softens the ride; it does not flatten it.
Moderately traded rather than a category volume leader, so spreads can run wider than in the giant dividend funds.

SPYD About 80 stocks is a narrow slice. Screening on yield pulls the sector mix away from the broad S&P 500, and the ride can be bumpier than the index it comes from.
A high yield is a ranking, not a promise. The index sorts on payout size, not on how reliably a company has grown or defended that payout.

Full OUSM profile⁠

Full SPYD profile⁠

OUSM vs SPYD Holdings

How OUSM and SPYD differ

Overlap by weight

4.3%

Shared holdings make up 6.7% of SPYD and 4.9% of OUSM.

Level by level

Holdings5 in both4.3%
Sector11 Sectors46.1%
Countryby domicile97.4%
Asset classEquity100%

Sector

Sector weights in OUSM and SPYD, widest gap first
Sector	More in OUSMMore in SPYD	OUSM	SPYD
Real Estate	SPYD +24.4 points	0.0%	24.4%
Industrials	OUSM +20.7 points	25.9%	5.2%
Technology	OUSM +13.3 points	17.3%	4.0%
Consumer Staples	SPYD +9.2 points	4.8%	14.0%
Consumer Discretionary	OUSM +8.4 points	13.8%	5.4%
Utilities	SPYD +7.8 points	3.1%	10.9%
Materials	SPYD +6.7 points	0.8%	7.5%
Health Care	OUSM +5.9 points	10.3%	4.4%
Financials	OUSM +5.7 points	19.0%	13.3%
Energy	SPYD +5.3 points	0.5%	5.8%
Communication	SPYD +0.5 points	4.6%	5.1%

Country, concentration and asset class

Country by domicile

Country weights in OUSM and SPYD, widest gap first
Country	More in OUSMMore in SPYD	OUSM	SPYD
United States	OUSM +2.6 points	100.0%	97.4%
United Kingdom	SPYD +1.4 points	0.0%	1.4%
Ireland	SPYD +1.2 points	0.0%	1.2%

Concentration

Weight in the 10 largest Holdings

OUSM21.5%
SPYD16.2%

Securities held

OUSM110
SPYD79

Asset class

OUSM: Equity
SPYD: Equity

Holdings

Only in OUSM105
In both5
Only in SPYD74

Only in OUSM

105 securities, 94.9% of OUSM by weight

Badger Meter Inc.2.31%
Concentra Group Holdings Parent Inc.2.30%
Encompass Health Corp.2.19%
A O Smith Corp.2.17%
Lincoln Electric Holdings Inc.2.15%
New York Times Co.2.05%
Skyworks Solutions Inc.2.03%
Amdocs Ltd.2.03%
Chemed Corp.2.02%
Universal Display Corp.1.99%
Universal Health Services Inc.1.99%
Jack Henry & Associates Inc.1.96%
Dolby Laboratories Inc.1.94%
Primerica Inc.1.90%
SEI Investments Co.1.87%
Avnet Inc.1.85%
Donaldson Co. Inc.1.83%
Essent Group Ltd.1.82%
Domino's Pizza Inc.1.81%
MGIC Investment Corp.1.80%
National HealthCare Corp.1.79%
InterDigital Inc.1.76%
ePlus Inc.1.76%
Graco Inc.1.73%
Bentley Systems Inc.1.71%
Federated Hermes Inc.1.69%
MSA Safety Inc.1.60%
FactSet Research Systems Inc.1.59%
Texas Roadhouse Inc.1.56%
Mueller Industries Inc.1.45%
Radian Group Inc.1.38%
TKO Group Holdings Inc.1.35%
H&R Block Inc.1.34%
Match Group Inc.1.17%
Houlihan Lokey Inc.1.15%
Gentex Corp.1.14%
Applied Industrial Technologies Inc.1.11%
Armstrong World Industries Inc.1.11%
Watts Water Technologies Inc.1.08%
RLI Corp.1.01%
Erie Indemnity Co.1.01%
Exponent Inc.0.99%
Service Corp. International0.96%
Pool Corp.0.95%
Brady Corp.0.88%
ADT Inc.0.84%
Zurn Elkay Water Solutions Corp.0.79%
Ingredion Inc.0.77%
Landstar System Inc.0.75%
Tradeweb Markets Inc.0.74%

Only in SPYD

74 securities, 92.9% of SPYD by weight

Accenture PLC Class A2.27%
Hp Inc1.63%
Pfizer Inc1.55%
Chevron Corp1.54%
Medtronic PLC1.53%
Stanley Black & Decker Inc1.49%
Best Buy Co Inc1.48%
Crown Castle Inc1.48%
Eog Resources Inc1.45%
American Tower Corp1.44%
Target Corp1.42%
Amcor PLC1.40%
Dow Inc1.38%
Ares Management Corp A1.37%
Altria Group Inc1.37%
Host Hotels & Resorts Inc1.35%
Lyondellbasell Indu Class A1.35%
Kinder Morgan Inc1.35%
Oneok Inc1.34%
Extra Space Storage Inc1.33%
Kenvue Inc1.32%
Omnicom Group1.31%
Public Storage1.31%
Kimberly Clark Corp1.30%
Bristol Myers Squibb Co1.30%
Aes Corp1.29%
Franklin Templeton Inc1.29%
Paychex Inc1.27%
Evergy Inc1.27%
Pepsico Inc1.27%
Verizon Communications Inc1.27%
Duke Energy Corp1.27%
Prudential Financial Inc1.27%
Exelon Corp1.27%
Blackstone Inc1.26%
Smurfit Westrock PLC1.23%
Simon Property Group Inc1.23%
Honeywell International Inc1.23%
Truist Financial Corp1.23%
Firstenergy Corp1.22%
Comcast Corp Class A1.22%
International Paper Co1.21%
Us Bancorp1.21%
Regions Financial Corp1.20%
Bxp Inc1.20%
Kimco Realty Corp1.20%
Keycorp1.20%
United Parcel Service Class B1.19%
Vici Properties Inc1.19%
T Rowe Price Group Inc1.18%

Weight gaps

All 5 Holdings in both funds, largest gap first.

Holding weights in OUSM and SPYD, widest gap first
Holding	More in OUSMMore in SPYD	OUSM	SPYD
Pinnacle West Capital Corp.PNW	SPYD +0.98 points	0.31%	1.29%
J M Smucker Co.SJM	SPYD +0.94 points	0.44%	1.38%
Hasbro Inc.HAS	OUSM +0.50 points	2.23%	1.73%
Clorox Co.CLX	SPYD +0.48 points	0.71%	1.19%
McCormick & Co. Inc.MKC	OUSM +0.10 points	1.26%	1.16%

All 111 OUSM holdings⁠All 78 SPYD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

OUSM vs SPYD Cost

Overpaying OUSM vs SPYD

$8,125

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

OUSM 0.48%
$9,605
SPYD 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

OUSM 0.48%
SPYD 0.07%
Overpaying

Year by year

Year	OUSM	SPYD	Overpaying
10	$865	$128	$737
20	$3,328	$503	$2,825
30	$9,605	$1,480	$8,125

Expense ratio

0.48%OUSM
0.07%SPYD, cheaper

SPYD0.07%OUSM0.48%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

SPYD 6th cheapest of 52 funds

OUSM 41st cheapest of 52 funds

OUSM vs SPYD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): OUSM 1.99%; SPYD 4.20%, better
Payout (12M): OUSM $0.97; SPYD $2.06
Last payment: OUSM $0.02; SPYD $0.52
Ex-dividend: OUSM Oct 22, 2026; SPYD Sep 21, 2026
Paid on: OUSM Oct 27, 2026; SPYD Sep 23, 2026
Frequency: OUSM Monthly; SPYD Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

OUSMMonthly · 46 paymentsAll OUSM payments⁠

SPYDQuarterly · 15 paymentsAll SPYD payments⁠

OUSM vs SPYD Risk

Fall from peak · 5 years

OUSM
SPYD

Risk facts

VolatilityStd dev, 3 years: OUSM 13.8%, betterSPYD 14.5%
Return per unit of riskSharpe ratio, 3 years: OUSM 0.76SPYD 0.96, better
Worst fallMax drawdown, 5 years: OUSM −19.4%, betterSPYD −22.2%
Market sensitivityBeta, 5 years: OUSM 0.78SPYD 0.64; Market = 1

OUSM and SPYD in the news

All news⁠

Best ETFs
For a rising dividend, iShares Core Dividend Growth ETF ranks first
Updated Nov 2, 2026SPYD
Best ETFs
Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
Updated Oct 2, 2026SPYD

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OUSM vs SPYD

In short

Stated mandate

Why people hold it

Worth knowing

How OUSM and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OUSM

Only in SPYD

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

For a rising dividend, iShares Core Dividend Growth ETF ranks first

Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.

How OUSM and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in OUSM

Only in SPYD

Weight gaps