Overlay Shares Municipal Bond ETF

Based on YieldCanary's health framework, OVM is currently High Risk. The fund is showing meaningful NAV erosion alongside its distributions. The Death Clock of 0.97 years indicates the fund is on a concerning trajectory at the current pace. This warrants significant caution before adding to or initiating a position. This is not financial advice — always do your own research and consult a qualified financial professional before making investment decisions.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

Based on last month's actual distribution of $0.0921 per share, $10,000 invested in OVM at the current price of $20.15 generates approximately 496 shares. That's $45.68 gross per month before taxes. Your after-tax income depends on your personal tax rate and account type. Set your rate inside YieldCanary to see your exact after-tax monthly income and connect your portfolio to see what all of your holdings generate together. Distributions change month to month based on options premiums and market conditions. Past distributions are not a guarantee of future payments.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

YieldCanary's True Income Yield for OVM is currently 0.46%. This is a distribution sustainability indicator — it strips the estimated return of capital portion from the headline TTM yield to show only what the fund generated from real investment activity. It is not an accounting measure of economic gain. Return of capital reduces your cost basis and full economic gain is only realized when you sell. OVM's current ROC estimate is 92.9%. The full methodology breakdown is available inside YieldCanary. For confirmed ROC figures check the fund's official 19a-1 notice or your year-end 1099.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

OVM's Death Clock is currently 0.97 years. This estimates the number of years before 50% of the fund's NAV erodes at the current pace, assuming all things stay constant. It is a sustainability warning signal. The pace can improve or worsen as market conditions and distribution behavior change. Check back every Monday and Thursday when the data refreshes.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

OVM's current ROC estimate is 92.9%. A high ROC without NAV stability can indicate the fund is returning your own principal as income while the underlying value declines. The Death Clock and Canary Status reflect this in OVM's current health rating. Note: YieldCanary calculates ROC from performance data, not 19a-1 filings.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

On YieldCanary, OVM is currently High Risk with a 0.46% True Income Yield and a Death Clock of 0.97 years. It pays Monthly distributions and has a 1-year price return of -4.60%. Similar funds from Overlay Shares tracked on YieldCanary: Overlay Shares Large Cap Equity ETF (OVL) — currently Healthy; Overlay Shares Foreign Equity ETF (OVF) — currently Healthy; Overlay Shares Short Term Bond ETF (OVT) — currently Watch Full side-by-side comparison including True Income Yield, Death Clock, ROC%, and after-tax income across all similar funds is available inside YieldCanary.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

OVM is a Monthly paying ETF. Distributions are paid once per month, which aligns well with monthly bills and expenses. Monthly payers are the most popular frequency among income investors for this reason. The most recent distribution was $0.0921 per share. To see exact upcoming ex-dividend and payment dates for OVM in your portfolio, connect your holdings inside YieldCanary and check the Distribution Calendar.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

OVM currently has $43M in assets under management. OVM is a smaller fund. While smaller AUM is not automatically a problem, funds with limited assets carry slightly more closure risk if assets decline significantly. Factor this into your position sizing. AUM alone does not determine whether a fund is healthy. Check the Canary Status and Death Clock above for the full sustainability picture.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

Yes — OVM can be held in a Roth IRA like any standard ETF, assuming your brokerage offers it. For income ETFs with high return of capital, a Roth IRA can be a particularly advantageous account type. ROC distributions reduce your cost basis in a taxable account, creating a deferred tax liability that grows over time. In a Roth IRA that tax treatment is irrelevant as all distributions are tax-free regardless of their character. This is not tax advice. Consult a tax professional about your specific situation and account type before making investment decisions.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.