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IWL vs OVS

iShares Russell Top 200 ETF vs Overlay Shares Small Cap Equity ETF

IWL

iShares Russell Top 200 ETF

iShares

Annual cost

0.15%

Fund size

$2.1B

OVS

Overlay Shares Small Cap Equity ETF

Overlay Shares

Annual cost

0.83%

Fund size

$20M

Key differences

  • IWL costs 0.68% less per year.
  • IWL is significantly larger than OVS — larger funds tend to be more liquid and less likely to close.
  • IWL is classified as equity, while OVS is alternative — different risk/return profiles.
  • IWL follows a index tracking strategy; OVS uses option income.
  • Over the last 3 years, IWL has delivered higher annualized returns.
  • IWL has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

IWLOVS
Annual cost (TER)0.15%0.83%
Fund size (AUM)$2.1B$20M
Since20092019
Dividend yield0.86%5.97%
Asset classequityalternative
Regionnorth americanorth america
Strategyindex trackingoption income
CAGR 1Y+31.7%+41.5%
CAGR 3Y+24.3%+17.7%
CAGR 5Y+15.1%+7.1%
Sharpe 3Y1.280.68
Volatility 1Y12.32%19.45%
Max drawdown-32.71%-45.09%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

Similar to IWL and OVS