How to create positive/negative overlay effect in Illustrator?

[michaelt79677093]

Came across this simple yet elegant effect and always wondered if this can be replicated easily through overlays and effects in Illustrator. I would like to keep text editable and the only method I'm aware of is compound shapes and exclude using Pathfinder, which isn't ideal.

Thanks in advance

[creative_curiosity1549]

WHat's wrong with Compound shapes?

[michaelt79677093]

I'd like to retain the ability to edit text and move the shape(s) around as needed. There are also added steps to the process of using compound shapes.

[pixxxelschubser]

Have fun

[michaelt79677093]

This is awesome, thank you!

[creative_curiosity1549]

With compound shapes (not compound paths) text can stay editable.