NCA vs OVL

Comparison between Nuveen California Municipal Value Fund. (NCA, ETF) and OVERLAY SHARES LARGE CAP EQUITY ETF (OVL, ETF).

5-Year PerformanceOVL has outperformed NCA, delivering a return of +13.2% compared to +1.2%

NCA vs OVL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NCA(ETF)	OVL(ETF)
Net Assets	$308M	$308M
Expense Ratio	N/A	0.79%
Max Drawdown	31.70%	35.49%
Sharpe Ratio	0.70	1.25
5Y Beta	0.14	1.11
5Y Dividends CAGR	3.86%	32.24%

Net Assets

NCA

$308M

Winner

OVL

$308M

Expense Ratio

NCA

N/A

OVL

0.79%

Max Drawdown

Winner

NCA

31.70%

OVL

35.49%

Sharpe Ratio

NCA

0.70

Winner

OVL

1.25

5Y Beta

Winner

NCA

0.14

OVL

1.11

5Y Dividends CAGR

NCA

3.86%

Winner

OVL

32.24%

NCA vs OVL - Historical Returns

Returns include dividend reinvestment.

Period	NCA	OVL
1 month	+0.98%	+0.31%
3 months	+0.86%	+6.39%
6 months	-0.01%	+11.20%
1 year	+13.13%	+23.29%
5 years(CAGR)	+1.22%	+13.22%
10 years(CAGR)	+1.82%	N/A
Max(CAGR)	+4.91%	+17.31%

Winner

NCA

+0.98%

OVL

+0.31%

NCA

+0.86%

Winner

OVL

+6.39%

NCA

-0.01%

Winner

OVL

+11.20%

NCA

+13.13%

Winner

OVL

+23.29%

5Y(CAGR)

NCA

+1.22%

Winner

OVL

+13.22%

10Y(CAGR)

NCA

+1.82%

OVL

N/A

Max(CAGR)

NCA

+4.91%

Winner

OVL

+17.31%

NCA vs OVL - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NCA	OVL
2026	+4.86%	+11.57%
2025	+10.13%	+18.52%
2024	-0.80%	+28.94%
2023	+8.96%	+28.57%
2022	-13.22%	-23.37%
2021	-2.16%	+34.48%
2020	+4.73%	+18.56%
2019	+19.52%	+10.84%
2018	-7.83%	N/A
2017	+1.75%	N/A
2016	+0.41%	N/A
2015	+8.06%	N/A
2014	+19.53%	N/A
2013	-5.95%	N/A
2012	+10.54%	N/A
2011	+16.12%	N/A
2010	+0.45%	N/A
2009	+10.05%	N/A
2008	-3.00%	N/A
2007	-5.56%	N/A
2006	+12.17%	N/A
2005	+9.35%	N/A
2004	+6.39%	N/A
2003	+3.67%	N/A
2002	+1.42%	N/A
2001	+11.60%	N/A
2000	+21.02%	N/A
1999	-8.03%	N/A

NCA vs OVL Drawdown Comparison

The maximum drawdown for NCA was -23.58%, occurring on Oct 10, 2008. Recovery took 580 trading sessions.

The maximum drawdown for OVL was -35.49%, occurring on Mar 20, 2020. Recovery took 118 trading sessions.

The current NCA drawdown is -4.02%. The current OVL drawdown is -2.07%.

Rank	NCA	OVL
#1	-23.58% May 15, 2007 - Sep 1, 2009	-35.49% Feb 19, 2020 - Aug 6, 2020
#2	-22.97% Sep 16, 2021 - Jan 7, 2026	-29.24% Jan 3, 2022 - Jan 19, 2024
#3	-19.28% Mar 3, 2020 - Sep 14, 2020	-21.69% Feb 19, 2025 - Jul 3, 2025
#4	-14.95% Jan 24, 2013 - Apr 25, 2014	-10.29% Sep 2, 2020 - Nov 13, 2020
#5	-14.28% Sep 2, 2010 - Nov 9, 2011	-10.10% Jul 16, 2024 - Sep 19, 2024
#6	-13.49% Sep 22, 2016 - Jul 9, 2019	-8.73% Jan 28, 2026 - Apr 14, 2026
#7	-13.48% Nov 2, 1999 - Mar 30, 2000	-7.39% Mar 28, 2024 - May 15, 2024
#8	-12.31% Jun 26, 2003 - Feb 12, 2004	-6.38% Oct 29, 2025 - Dec 10, 2025
#9	-12.29% Feb 17, 2004 - Nov 16, 2004	-6.28% Sep 3, 2021 - Oct 21, 2021
#10	-10.28% Sep 30, 2002 - Jun 12, 2003	-5.47% Dec 6, 2024 - Jan 23, 2025
#11	-9.19% Jan 20, 2021 - Jul 29, 2021	-5.24% Jun 2, 2026 - Jun 10, 2026
#12	-8.33% Mar 30, 2000 - Jun 9, 2000	-4.72% Feb 17, 2021 - Mar 11, 2021
#13	-7.94% Mar 7, 2001 - Jul 23, 2001	-4.25% Jan 17, 2020 - Feb 6, 2020
#14	-7.88% Mar 1, 2012 - May 4, 2012	-4.15% May 7, 2021 - Jun 4, 2021
#15	-7.72% Aug 10, 2000 - Jan 4, 2001	-3.98% Jan 21, 2021 - Feb 4, 2021

Correlation

Correlation between NCA and OVL is 0.50 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.50

-101

Dividend Comparison (2000 - 2026)

NCA vs OVL dividend yield comparison.

Year	NCA	OVL
2026	2.25%	5.00%
2025	3.89%	2.99%
2024	4.12%	3.10%
2023	3.88%	3.33%
2022	3.66%	3.85%
2021	3.02%	3.63%
2020	2.98%	2.43%
2019	3.21%	0.50%
2018	3.79%	0.00%
2017	5.33%	0.00%
2016	4.36%	0.00%
2015	4.34%	0.00%
2014	4.45%	0.00%
2013	5.11%	0.00%
2012	4.69%	0.00%
2011	4.81%	0.00%
2010	5.32%	0.00%
2009	5.03%	0.00%
2008	6.90%	0.00%
2007	5.13%	0.00%
2006	4.78%	0.00%
2005	5.39%	0.00%
2004	6.01%	0.00%
2003	5.97%	0.00%
2002	5.49%	0.00%
2001	5.17%	0.00%
2000	2.31%	0.00%