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Trending ETFs

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$42.43

$102 M

0.28%

$0.12

0.80%

Vitals

YTD Return

7.7%

1 yr return

19.6%

3 Yr Avg Return

17.0%

5 Yr Avg Return

10.0%

Net Assets

$102 M

Holdings in Top 10

99.9%

52 WEEK LOW AND HIGH

$42.3
$35.62
$42.43

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$42.43

$102 M

0.28%

$0.12

0.80%

OVLH - Profile

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 17.0%
  • 5 Yr Annualized Total Return 10.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Overlay Shares Hedged Large Cap Equity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jan 14, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bradley Ball

Fund Description

The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of U.S. large-cap equity securities or directly in the securities held by such ETFs (collectively, the “Underlying Investments”), and (ii) purchasing long-term out-of-the-money put options (i.e., put options with a strike price below the current price of the reference asset) to seek to hedge against significant declines in U.S. large-cap equities. Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested, directly or indirectly through ETFs, in equity securities of large-cap companies.
In order to mitigate the risks of significant declines in U.S. large-cap equities, the Fund will purchase a series of long-term out-of-the-money put options on the reference asset (typically an index of large-cap securities) with expiration terms ranging from 6 to 18 months. The Fund will typically purchase large put options with a notional value (strike price times the value of the shares) generally approximating the Fund’s net asset value.
The Fund focuses primarily on equity index options which offer both European settlement (i.e., options can only be exercised at their expiration date) and cash settlement (i.e., options carry an obligation by their seller to pay the difference between their strike price and their settlement value instead of allowing the seller to take delivery of securities).
The Fund’s purchase of put options may result in the generation of positive returns for the Fund; however, the loss potential if the strategy is not effective may be greater than the profit potential. The Fund may lose significantly more than the premiums it receives in highly volatile market conditions.
The Adviser employs a disciplined portfolio construction process that relies on guidelines to govern capital allocations based on a quantitative methodology designed by the Adviser to measure the perceived risk of the broad U.S. equity market. In making this determination, the Adviser considers various factors including but not limited to the overall volatility (rate of change) in the markets. The Adviser bases allocation decisions on a combination of quantitative risk metrics and a qualitative assessment of potential risk/reward scenarios, with the ultimate goals of mitigating the effects of volatility in the Fund’s portfolio and maintaining adequate portfolio diversification while seeking to achieve the Fund’s targeted return. The Adviser evaluates the metrics associated with the valuation of options, including volatility, time to expiration and the relationship of the exercise price to the prevailing market price of the reference asset. There can be no guarantee that the Adviser will be successful in implementing the Fund’s strategy. During market conditions in which market volatility rises, the price of options could rise, which could affect the Fund’s performance and ability to achieve its targeted return.
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OVLH - Performance

Return Ranking - Trailing

Period OVLH Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -51.8% 22.1% 94.13%
1 Yr 19.6% -58.9% 46.9% 20.29%
3 Yr 17.0%* -25.7% 197.6% N/A
5 Yr 10.0%* -29.1% 93.8% N/A
10 Yr N/A* -17.2% 37.0% N/A

* Annualized

Return Ranking - Calendar

Period OVLH Return Category Return Low Category Return High Rank in Category (%)
2025 15.4% -69.4% 53.7% N/A
2024 18.1% -94.0% 152.6% N/A
2023 16.0% -13.9% 183.6% N/A
2022 -16.8% -18.2% 8.9% N/A
2021 N/A -80.2% 35.2% N/A

Total Return Ranking - Trailing

Period OVLH Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -97.2% 22.1% 94.64%
1 Yr 19.6% -58.9% 67.6% 21.67%
3 Yr 17.0%* -25.7% 197.6% N/A
5 Yr 10.0%* -28.1% 93.8% N/A
10 Yr N/A* -11.8% 37.0% N/A

* Annualized

Total Return Ranking - Calendar

Period OVLH Return Category Return Low Category Return High Rank in Category (%)
2025 15.8% -69.4% 53.7% N/A
2024 18.4% -94.0% 152.6% N/A
2023 16.9% -13.9% 183.6% N/A
2022 -16.1% -12.8% 8.9% N/A
2021 N/A -60.0% 35.2% N/A

OVLH - Holdings

Concentration Analysis

OVLH Category Low Category High OVLH % Rank
Net Assets 102 M 177 K 1.21 T 92.29%
Number of Holdings 11 2 4154 99.24%
Net Assets in Top 10 103 M 1.74 K 270 B 82.43%
Weighting of Top 10 99.94% 1.8% 100.0% 0.07%

Top 10 Holdings

  1. Vanguard SP 500 ETF 97.67%
  2. SPX US 10/16/26 P6500 0.38%
  3. SPX US 01/15/27 P6200 0.37%
  4. SPX US 09/18/26 P6500 0.35%
  5. SPX US 08/21/26 P6500 0.31%
  6. SPX US 07/17/26 P6500 0.26%
  7. SPX US 06/18/26 P6500 0.22%
  8. SPX US 05/15/26 P6500 0.16%
  9. SPX US 04/17/26 P6500 0.11%
  10. First American Government Obligations Fund 0.10%

Asset Allocation

Weighting Return Low Return High OVLH % Rank
Stocks
97.67% 0.00% 130.24% 39.97%
Other
2.24% -13.91% 134.98% 12.10%
Cash
0.10% -102.29% 100.00% 57.54%
Preferred Stocks
0.00% 0.00% 2.23% 11.27%
Convertible Bonds
0.00% 0.00% 5.54% 6.43%
Bonds
0.00% -0.04% 95.81% 7.68%

Stock Sector Breakdown

Weighting Return Low Return High OVLH % Rank
Utilities
0.00% 0.00% 25.44% 36.34%
Technology
0.00% 0.00% 48.94% 38.38%
Real Estate
0.00% 0.00% 37.52% 39.78%
Industrials
0.00% 0.00% 29.90% 64.85%
Healthcare
0.00% 0.00% 60.70% 51.96%
Financial Services
0.00% 0.00% 55.59% 66.04%
Energy
0.00% 0.00% 41.64% 44.33%
Communication Services
0.00% 0.00% 27.94% 43.63%
Consumer Defense
0.00% 0.00% 49.14% 36.55%
Consumer Cyclical
0.00% 0.00% 50.47% 37.82%
Basic Materials
0.00% 0.00% 26.10% 57.91%

Stock Geographic Breakdown

Weighting Return Low Return High OVLH % Rank
US
97.67% 0.00% 127.77% 29.32%
Non US
0.00% 0.00% 33.51% 66.39%

OVLH - Expenses

Operational Fees

OVLH Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.01% 2.95% 40.19%
Management Fee 0.75% 0.00% 2.00% 84.54%
12b-1 Fee N/A 0.00% 1.00% 0.86%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

OVLH Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

OVLH Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

OVLH Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.00% N/A

OVLH - Distributions

Dividend Yield Analysis

OVLH Category Low Category High OVLH % Rank
Dividend Yield 0.28% 0.00% 19.15% 40.42%

Dividend Distribution Analysis

OVLH Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

OVLH Category Low Category High OVLH % Rank
Net Income Ratio N/A -54.00% 6.06% 73.49%

Capital Gain Distribution Analysis

OVLH Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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OVLH - Fund Manager Analysis

Managers

Bradley Ball


Start Date

Tenure

Tenure Rank

Jan 14, 2021

1.38

1.4%

Mr. Ball co-founded Liquid Strategies, LLC in 2013 and serves as Chief Executive Officer, Managing Member and Portfolio Manager on the LS Theta Strategies Investment Team. Prior to founding the Liquid Strategies, Mr. Ball was a founding partner and CEO of Perimeter Capital Management. Concurrently with founding Perimeter, he was Vice President of Concourse Capital Management, LLC, an affiliated investment adviser to a long/short equity private fund. Previously he served as Executive Vice President of Trusco Capital Management and served on the firm’s Executive Committee. Mr. Ball has been in the investment industry since 1985, has served on numerous industry boards and is a frequent conference speaker. He is a graduate of Oklahoma State University where he received a degree in Finance. Mr. Ball has served on numerous non-profit boards and currently serves as a board member of the Sandy Springs Perimeter Chamber of Commerce.

C. Shawn Gibson


Start Date

Tenure

Tenure Rank

Jan 14, 2021

1.38

1.4%

Mr. Gibson co-Founded Liquid Strategies, LLC in 2013 and serves as the Chief Investment Officer and Portfolio Manager and is a member of the firm’s Executive Management Committee. His investment experience primarily in the area of options trading and options portfolio management. Mr. Gibson started trading options in 1997 with the Timber Hill Group, one of the world’s largest options market making firms. While at Timber Hill, he was an options market maker on the floor of the Pacific Exchange and was later promoted to join a small team in Greenwich, CT that was responsible for overseeing the firm’s multi-billion dollar options trading portfolio. Mr. Gibson subsequently served as Head of Options Strategy and Director of Alternative Investments at BB&T, where he worked with advisors and their clients to develop options-based hedging and yield enhancing strategies. He is an active member of his community and was voted as one of the Top 40 leaders under 40 while living in Richmond after being nominated by his peers due to his professional accomplishments and community involvement. Mr. Gibson earned his B.S. in Commerce from the University of Virginia.

Adam Stewart


Start Date

Tenure

Tenure Rank

Jan 14, 2021

1.38

1.4%

Mr. Stewart co-founded Liquid Strategies, LLC in 2013. He is co-portfolio manager of the Theta strategy and serves on the Liquid Strategies investment team, which is responsible for setting portfolio allocations based on the risk profile of the markets. Mr. Stewart began his career at Franklin Templeton in 1997 and later served as Head of Equity Trading at Trusco Capital Management along with managing equity trading operations. Most recently, he was a founding partner and Director of Trading for Perimeter Capital Management. Mr. Stewart received his Chartered Financial Analyst (CFA) designation in 2001 and earned his B.A. from Auburn University.

Justin Boller


Start Date

Tenure

Tenure Rank

Jan 14, 2021

1.38

1.4%

Mr. Boller serves as a Portfolio Manager on the Liquid Strategies Theta investment team. Mr. Boller began his career at Invesco in 1999 where he served as a Client Portfolio Manager, working on the company’s Global Equity investment team. While also at Invesco, he also served as Director of Strategic Planning for the global firm. Most recently, Mr. Boller has worked as Chief Investment Officer for Advocacy Wealth Management, LLC. He is a graduate of Wake Forest University, where he earned a bachelor's in business with a focus in finance. Mr. Boller is a Chartered Financial Analyst (CFA) charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.17 2.42