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VPC vs XOVR

Virtus Private Credit Strategy ETF

VPCDNYSE Arca

ERShares Private-Public Crossover ETF

XOVRBNasdaq

Overlap

Expense ratio

XOVR −9.77pt a year

VPC10.60%XOVR0.83%

Avg volume · 30D

XOVR 446.5×the volume

VPC9.35KXOVR4.17M

VPC vs XOVR Performance

Oct 31, 2025 – Nov 2, 2026

−11.2%VPC−7.9%XOVR

Oct 31, 2025 to Nov 2, 2026. VPC −11.2%. XOVR −7.9%. Use the arrow keys to read each point.−20%−15%−5%0%5%Oct 2025May 2026Nov 2026
Expense ratio
VPC 10.60%
XOVR 0.83%, better
Fund size
VPC $27M
XOVR $1.39B
1Y total return
VPC −11.2%
XOVR −7.9%, better
Yield (12M)
VPC 15.33%, better
XOVR 0.00%
Holdings
VPC 62
XOVR 33
Avg volume (30D)
VPC 9.35K sh
XOVR 4.17M sh, better
NAV per share
VPC $14.38
XOVR $19.93
52W range

ETF.net Grade

VPC: Cost 19, Risk 45, Mission 68, Tradability 37, Holdings 80, Durability 41. XOVR: Cost 76, Risk 26, Mission not scored, Tradability 59, Holdings 37, Durability 72.
Pillar letters and Scores for VPC, XOVR, with each pillar’s weight
PillarVPCXOVR
Cost30% weightF19A76Higher
Mission25% weightB68Not scored
Risk15% weightC45HigherD26
Tradability15% weightD37B59Higher
Holdings10% weightA80HigherD37
Durability5% weightC41A72Higher

Rank among Listed Private Markets funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. VPC and XOVR are both graded against the same 12 Listed Private Markets funds, so their Grades compare head to head.

Listed Private Markets⁠

Category · 12 funds
See all 12 ›

XOVR ranks 4th and VPC 10th of 12 funds in the Listed Private Markets Category.

  1. Rank 1AGTPEGoldman Sachs MSCI World Private Equity Return Tracker ETFScore 72
  2. Rank 2BGPZVanEck Alternative Asset Manager ETFScore 66
  3. Rank 3BBUYOKraneShares Man Buyout Beta Index ETFScore 63
  4. Rank 4BXOVRERShares Private-Public Crossover ETFScore 57
  5. Rank 5CPSPInvesco Global Listed Private Equity ETFScore 54
  6. Rank 9DPEXProShares Global Listed Private Equity ETFScore 38
  7. Rank 10DVPCVirtus Private Credit Strategy ETFScore 37
  8. Rank 11DFBDCFT Confluence BDC & Specialty Finance Income ETFScore 34

Our read on each fund

ETF.net Research

VPCDVirtus Private Credit Strategy ETF

XOVRBERShares Private-Public Crossover ETF

In short

VPC VPC buys the lenders, not the loans: one ticker for a slate of US-listed BDCs and private-credit closed-end funds. Its eye-popping fee line is mostly those underlying funds' own costs, which SEC rules force into the table.

XOVR A regular brokerage account, a slice of SpaceX. XOVR wraps about 30 public growth names around select late-stage private stakes held through special-purpose vehicles, with no accredited-investor hoops. Fee: 1.81%, no waiver.

Stated mandate

VPC The Fund seeks an alternative source of yield through private credit, focusing on lending to non-investment-grade small- and mid-sized U.S. companies. It tracks the Indxx Private Credit Index, which provides passive exposure to U.S.-listed private-credit instruments.

XOVR The fund seeks long-term capital appreciation through a broader crossover strategy combining public equities with select private-company exposure.

Why people hold it

  • VPC One ticker for a broad slate of US-listed BDCs and closed-end funds lending to small and mid-sized American companies, instead of a bet on one lender.sec.gov
  • Virtus charges 0.75% at the fund level; the rest of the headline expense ratio is the underlying BDCs' and CEFs' fees, itemized because SEC rules require it.virtus.comvirtus.com 2
  • The index weights holdings by dividend yield, caps any single name at 5%, and screens out the closed-end funds trading at the most extreme premiums or discounts.sec.gov
  • Trading since 2019, one of the early passive routes into exchange-listed private credit.
  • XOVR Roughly 30 listed growth names plus stakes in late-stage private companies like SpaceX, held through special-purpose vehicles inside a 1940 Act ETF.prnewswire.com
  • No accredited-investor status, capital calls or lockups. Private-market access arrives in a brokerage account, which is the structure's whole reason to exist.prnewswire.com
  • 1.81%, no waiver. Steep next to index funds, yet below the median for listed private-markets funds, a category where BIZD's 9.69% marks the high end.
  • A billion-dollar-plus fund that trades actively, unusual for a niche thematic strategy, and listed since 2017.

Worth knowing

  • VPC Stacked BDC management and incentive fees are real money, and the all-in expense ratio sits far above cohort peers like GPZ and GTPE.virtus.com
  • A small fund that trades lightly, so spreads can run wider than the cohort's bigger names. Limit orders help.
  • You own lender equity, not the loans: prices move with credit conditions and sentiment, and payouts can include return of capital.sec.gov
  • XOVR Private stakes have no closing price. They are marked by the fund's valuation process and can reprice on a funding round or an IPO rather than day to day.
  • About 30 holdings, with the private sleeve concentrated in a single name, so one company's mark can move the fund more than a broad equity ETF would.prnewswire.com
  • Cheaper shelf-mates exist, GPZ at 0.40% and GTPE at 0.50%, but neither is built around direct late-stage private stakes.

Full VPC profile⁠

Full XOVR profile⁠

VPC vs XOVR 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.

VPC vs XOVR Cost

Overpaying VPC vs XOVR

$56,935

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

  • VPC 10.60%

    $72,794

  • XOVR 0.83%

    $15,859

$10,000
30 years

Cost over time

  • VPC 10.60%
  • XOVR 0.83%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$20K$40K$60K$80K051015202530VPC $72,794XOVR $15,859

Year by year

YearVPCXOVROverpaying
10$12,741$1,474$11,267
20$33,894$5,581$28,313
30$72,794$15,859$56,935

Expense ratio

  • 10.60%VPC
  • 0.83%XOVR, cheaper
  • Middle half of Listed Private Markets funds
  • Median 2.25%

XOVR 3rd cheapest of 12 funds

VPC 10th cheapest of 12 funds

VPC vs XOVR Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
VPC 15.33%, better
XOVR 0.00%
Payout (12M)
VPC $2.21
XOVR None
Last payment
VPC $0.28
XOVR No data
Ex-dividend
VPC Sep 21, 2026
XOVR No data
Paid on
VPC Sep 28, 2026
XOVR No data
Frequency
VPC Quarterly
XOVR No data

Distribution history

Per share, 2017 to 2026, same scale for both

VPCQuarterly · 30 paymentsAll VPC payments⁠
One bar per payment. 30 payments from 2017 to 2026 YTD. Jun 20, 2019 $0.86; Sep 20, 2019 $0.52; Dec 20, 2019 $0.67; Mar 20, 2020 $0.35; Jun 22, 2020 $0.51; Sep 21, 2020 $0.51; Dec 21, 2020 $0.66; Mar 22, 2021 $0.37; Jun 21, 2021 $0.22; Sep 20, 2021 $0.46; Dec 20, 2021 $0.55; Mar 21, 2022 $0.44; Jun 21, 2022 $0.52; Sep 20, 2022 $0.57; Dec 20, 2022 $0.65; Mar 20, 2023 $0.55; Jun 20, 2023 $0.72; Sep 20, 2023 $0.54; Dec 20, 2023 $0.76; Mar 20, 2024 $0.51; Jun 20, 2024 $0.51; Sep 20, 2024 $0.55; Dec 20, 2024 $0.88; Mar 20, 2025 $0.45; Jun 20, 2025 $0.64; Sep 22, 2025 $0.50; Dec 22, 2025 $0.96; Mar 20, 2026 $0.59; Jun 22, 2026 $0.38; Sep 21, 2026 $0.28. Use the arrow keys to read each point.$0$102017202020232026YTD
XOVR5 paymentsAll XOVR payments⁠
One bar per payment. 5 payments from 2017 to 2026 YTD. Dec 22, 2017 $0.01; Dec 18, 2018 $0.52; Dec 19, 2019 $0.01; Dec 21, 2020 $1.65; Dec 21, 2021 $8.73. Use the arrow keys to read each point.$0$102017202020232026YTD

VPC vs XOVR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
VPC 13.3%XOVR 24.2%since Sep 2024
Return per unit of riskSharpe ratio, 3 years
VPC −0.26XOVR 0.43since Sep 2024
Worst fallMax drawdown, 5 years
VPC −24.8%XOVR −25.2%since Aug 2024
Market sensitivityBeta, 5 years
VPC 0.42XOVR 1.20

VPC and XOVR in the news

All news⁠

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