Overlay Shares Municipal Bond ETF (OVM) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with OVM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to OVM
OVM charges 0.82% annually. There are 132 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.87B | Oct 2022 | OVM vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 45.70B | Aug 2015 | OVM vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 178.36M | Jul 2019 | OVM vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 144.40M | Aug 2025 | OVM vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 94.44M | Aug 2025 | OVM vs TAXS |
Best Risk-Adjusted Alternatives to OVM
OVM has a PortfoliosLab risk / return rank of 88. There are 9 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 97 | 9.88M | Sep 2024 | OVM vs MYMG | |
| State Street My2026 Municipal Bond ETF | 96 | 8.74M | Sep 2024 | OVM vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 95 | 1.38B | Mar 2015 | OVM vs MEAR | |
| First Trust Ultra Short Duration Municipal ETF | 95 | 230.57M | Nov 2018 | OVM vs FUMB | |
| Invesco BulletShares 2027 Municipal Bond ETF | 94 | 339.63M | Sep 2019 | OVM vs BSMR |
Top Performing OVM Alternatives (YTD)
OVM is at 3.96% YTD. No ETFs in the Municipal Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 3.71% | 138.42M | Jun 2013 | OVM vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.33% | 18.90M | Sep 2016 | OVM vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.33% | 25.30M | Nov 2025 | OVM vs THYM | |
| Invesco New York AMT-Free Municipal Bond ETF | 2.87% | 134.60M | Oct 2007 | OVM vs PZT | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 2.87% | 2.93B | Apr 2011 | OVM vs HYMB |
Lowest Volatility Alternatives to OVM
OVM has 4.16% 1-year volatility. There are 119 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares iBonds Dec 2024 Term Muni Bond ETF | 0.00% | 349.85M | Mar 2018 | OVM vs IBMM | |
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 27.03M | Sep 2025 | OVM vs ZMUN | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | 0.71% | 348.98M | Nov 2018 | OVM vs IBMN | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | OVM vs AUSM | |
| State Street My2026 Municipal Bond ETF | 0.75% | 8.74M | Sep 2024 | OVM vs MYMF |
Lowest Drawdown Alternatives to OVM
OVM has a 1-year max drawdown of -2.44%. There are 48 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 230.57M | Nov 2018 | OVM vs FUMB | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | -0.25% | 348.98M | Nov 2018 | OVM vs IBMN | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 294.75M | Sep 2019 | OVM vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 40.29M | Jul 2024 | OVM vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | OVM vs MYMG |
Other ETFs from Liquid Strategies
The 6 most viewed Liquid Strategies ETFs shown here include OVL, OVLH, OVF and span 6 categories. AUM among these funds goes as high as $183M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Overlay Shares Large Cap Equity ETF | Large Cap Growth Equities | 74 | 13.20% | 182.90M | Sep 2019 | OVM vs OVL | |
| Overlay Shares Hedged Large Cap Equity ETF | Equity Hedged | 65 | 7.26% | 94.33M | Jan 2021 | OVM vs OVLH | |
| Overlay Shares Foreign Equity ETF | Foreign Large Cap Equities | 58 | 14.61% | 29.60M | Sep 2019 | OVM vs OVF | |
| Overlay Shares Short Term Bond ETF | Corporate Bonds | 85 | 2.61% | 49.77M | Jan 2021 | OVM vs OVT | |
| Overlay Shares Core Bond ETF | Intermediate Core Bond | 59 | 2.58% | 33.20M | Sep 2019 | OVM vs OVB | |
| Overlay Shares Small Cap Equity ETF | Small Cap Blend Equities | 64 | 17.65% | 16.00M | Sep 2019 | OVM vs OVS |
Often Compared With OVM
Investors most often compare OVM with FBND, ACTHX, MMIN. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare OVM with Any Fund or Stock
Compare OVM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair OVM with funds that move differently
Overlay Shares Municipal Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to OVM.
Explore OVM Diversifiers