OVL vs CNRG

Comparison between OVERLAY SHARES LARGE CAP EQUITY ETF (OVL, ETF) and STATE STREET(R) SPDR(R) S&P KENSHO CLEAN POWER ETF (CNRG, ETF).

5-Year PerformanceOVL has outperformed CNRG, delivering a return of +13.7% compared to +3.3%

OVL vs CNRG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	OVL(ETF)	CNRG(ETF)
Net Assets	$221M	$222M
Expense Ratio	0.79%	0.45%
Max Drawdown	35.49%	70.04%
Sharpe Ratio	1.65	1.95
5Y Beta	1.12	1.33
P/E Ratio	N/A	-64.41
Forward P/E	N/A	24.43
5Y Dividends CAGR	28.91%	7.55%
Debt to Equity	N/A	76.78%
P/S Ratio	N/A	0.41
P/B Ratio	N/A	2.57

Net Assets

OVL

$221M

Winner

CNRG

$222M

Expense Ratio

OVL

0.79%

Winner

CNRG

0.45%

Max Drawdown

Winner

OVL

35.49%

CNRG

70.04%

Sharpe Ratio

OVL

1.65

Winner

CNRG

1.95

5Y Beta

Winner

OVL

1.12

CNRG

1.33

P/E Ratio

OVL

N/A

CNRG

-64.41

Forward P/E

OVL

N/A

CNRG

24.43

5Y Dividends CAGR

Winner

OVL

28.91%

CNRG

7.55%

Debt to Equity

OVL

N/A

CNRG

76.78%

P/S Ratio

OVL

N/A

CNRG

0.41

P/B Ratio

OVL

N/A

CNRG

2.57

OVL vs CNRG - Holdings Comparison

OVL and CNRG have 0 common holdings. Overlap is 0.00%

OVL's top 25 holdings weight is 99.94%. CNRG's top 25 holdings weight is 76.44%.

Rank	OVL	CNRG
#1	VANGUARD S&P 500 ETF (VOO) - 99.06%	BLOOM ENERGY CORP CLASS A (BE) - 6.40%
#2	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 0.88%	SOLAREDGE TECHNOLOGIES INC (SEDG) - 4.80%
#3	N/A	BALLARD POWER SYSTEMS INC (n/a) - 4.58%
#4	N/A	ENPHASE ENERGY INC (ENPH) - 4.37%
#5	N/A	T1 ENERGY INC (TE) - 3.64%
#6	N/A	PLUG POWER INC (PLUG) - 3.64%
#7	N/A	GENERAC HOLDINGS INC (GNRC) - 3.54%
#8	N/A	CORNING INC (GLW) - 3.41%
#9	N/A	GE VERNOVA INC (GEV) - 3.17%
#10	N/A	NEXTPOWER INC CLASS A (NXT) - 3.15%
#11	N/A	APPLIED MATERIALS INC (AMAT) - 2.71%
#12	N/A	SHOALS TECHNOLOGIES GROUP INC ORDINARY SHARES CLASS A (SHLS) - 2.70%
#13	N/A	ORMAT TECHNOLOGIES INC (ORA) - 2.63%
#14	N/A	AMERICAN SUPERCONDUCTOR CORP (AMSC) - 2.61%
#15	N/A	TENARIS SA ADR (TS) - 2.52%
#16	N/A	ARCOSA INC (ACA) - 2.43%
#17	N/A	AMERESCO INC CLASS A (AMRC) - 2.40%
#18	N/A	ENERGY VAULT HOLDINGS INC (NRGV) - 2.40%
#19	N/A	NEXTERA ENERGY INC (NEE) - 2.31%
#20	N/A	AVISTA CORP (AVA) - 2.31%
#21	N/A	THE AES CORP (AES) - 2.28%
#22	N/A	FIRST SOLAR INC (FSLR) - 2.21%
#23	N/A	TRANSALTA CORP (n/a) - 2.09%
#24	N/A	CUMMINS INC (CMI) - 2.09%
#25	N/A	ARRAY TECHNOLOGIES INC ORDINARY SHARES (ARRY) - 2.05%
Total Holdings	2	44

OVL vs CNRG - Historical Returns

Returns include dividend reinvestment.

Period	OVL	CNRG
1 month	+1.74%	+4.07%
3 months	+9.29%	+22.24%
6 months	+10.03%	+16.89%
1 year	+30.63%	+99.33%
5 years(CAGR)	+13.68%	+3.32%
Max(CAGR)	+17.41%	+20.59%

OVL

+1.74%

Winner

CNRG

+4.07%

OVL

+9.29%

Winner

CNRG

+22.24%

OVL

+10.03%

Winner

CNRG

+16.89%

OVL

+30.63%

Winner

CNRG

+99.33%

5Y(CAGR)

Winner

OVL

+13.68%

CNRG

+3.32%

Max(CAGR)

OVL

+17.41%

Winner

CNRG

+20.59%

OVL vs CNRG - Annual Returns (2018 - 2026)

Returns include dividend reinvestment.

Year	OVL	CNRG
2026	+9.97%	+18.66%
2025	+18.52%	+43.45%
2024	+28.94%	-13.93%
2023	+28.57%	-9.79%
2022	-23.37%	-9.20%
2021	+34.48%	-16.46%
2020	+18.56%	+141.39%
2019	+10.84%	+62.49%
2018	N/A	-2.86%

OVL vs CNRG Drawdown Comparison

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

The maximum drawdown for CNRG was -68.47%, occurring on Apr 8, 2025. This drawdown has not yet recovered.

The current OVL drawdown is -3.47%. The current CNRG drawdown is -18.82%.

Rank	OVL	CNRG
#1	-35.49% Feb 19, 2020 - Aug 6, 2020	-68.47% Feb 9, 2021 - Apr 8, 2025
#2	-29.24% Jan 3, 2022 - Jan 19, 2024	-44.22% Feb 19, 2020 - Jul 14, 2020
#3	-21.69% Feb 19, 2025 - Jul 3, 2025	-14.17% Dec 3, 2018 - Jan 25, 2019
#4	-10.29% Sep 2, 2020 - Nov 13, 2020	-12.48% Oct 20, 2020 - Nov 11, 2020
#5	-10.10% Jul 16, 2024 - Sep 19, 2024	-9.56% Jan 22, 2021 - Feb 9, 2021
#6	-8.73% Jan 28, 2026 - Apr 14, 2026	-9.01% Sep 1, 2020 - Sep 28, 2020
#7	-7.39% Mar 28, 2024 - May 15, 2024	-8.61% Jan 21, 2020 - Feb 10, 2020
#8	-6.38% Oct 29, 2025 - Dec 10, 2025	-8.27% Sep 23, 2019 - Dec 13, 2019
#9	-6.28% Sep 3, 2021 - Oct 21, 2021	-7.36% Nov 27, 2020 - Dec 15, 2020
#10	-5.47% Dec 6, 2024 - Jan 23, 2025	-5.62% Jan 14, 2021 - Jan 21, 2021
#11	-4.72% Feb 17, 2021 - Mar 11, 2021	-4.99% Aug 8, 2019 - Aug 21, 2019
#12	-4.25% Jan 17, 2020 - Feb 6, 2020	-4.50% Jul 22, 2020 - Aug 4, 2020
#13	-4.15% May 7, 2021 - Jun 4, 2021	-4.44% Aug 1, 2019 - Aug 8, 2019
#14	-3.98% Jan 21, 2021 - Feb 4, 2021	-4.33% May 3, 2019 - Jun 5, 2019
#15	-3.82% Nov 18, 2021 - Dec 8, 2021	-4.09% Dec 23, 2020 - Jan 5, 2021