BBBI vs. OVT

Last updated Jun 23, 2026

BBBI (BondBloxx BBB Rated 5-10 Year Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. BBBI is passively managed, while OVT is actively managed. Over the past year, BBBI returned 5.53% vs 7.93% for OVT. A 0.61 correlation means they provide meaningful diversification when combined. BBBI charges 0.19%/yr vs 0.80%/yr for OVT.

Performance

BBBI vs. OVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (BBBI) and Overlay Shares Short Term Bond ETF (OVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBBI achieves a 0.32% return, which is significantly lower than OVT's 2.12% return.

BBBI

• 1D: -0.23%
• 1M: 0.46%
• YTD: 0.32%
• 6M: 0.51%
• 1Y: 5.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVT

• 1D: 0.05%
• 1M: -0.04%
• YTD: 2.12%
• 6M: 2.32%
• 1Y: 7.93%
• 3Y*: 7.31%
• 5Y*: 2.87%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBBI vs. OVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBBI BondBloxx BBB Rated 5-10 Year Corporate Bond ETF	0.32%	9.28%	4.38%
OVT Overlay Shares Short Term Bond ETF	2.12%	7.61%	6.81%

Correlation

The correlation between BBBI and OVT is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	0.61

The correlation between BBBI and OVT has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

BBBI vs. OVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBBI

BBBI Risk / Return Rank: 40
BBBI Sharpe Ratio Rank: 40
BBBI Sortino Ratio Rank: 42
BBBI Omega Ratio Rank: 38
BBBI Calmar Ratio Rank: 39
BBBI Martin Ratio Rank: 40

OVT

OVT Risk / Return Rank: 77
OVT Sharpe Ratio Rank: 69
OVT Sortino Ratio Rank: 70
OVT Omega Ratio Rank: 76
OVT Calmar Ratio Rank: 89
OVT Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBBI vs. OVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (BBBI) and Overlay Shares Short Term Bond ETF (OVT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBBI	OVT	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.17	-0.79
Sortino ratio: Return per unit of downside risk	2.04	3.04	-1.00
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.19
Calmar ratio: Return relative to maximum drawdown	1.89	5.14	-3.25
Martin ratio: Return relative to average drawdown	6.19	16.26	-10.07

BBBI vs. OVT - Sharpe Ratio Comparison

The current BBBI Sharpe Ratio is 1.38, which is lower than the OVT Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BBBI and OVT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBBI vs. OVT - Drawdown Comparison

The maximum BBBI drawdown since its inception was -4.11%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for BBBI and OVT.

Drawdown Indicators

	BBBI	OVT	Difference
Max Drawdown Largest peak-to-trough decline	-4.11%	-13.59%	+9.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-1.55%	-1.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.59%	—
Current Drawdown Current decline from peak	-1.19%	-0.88%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.98%	-3.37%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.49%	+0.40%

Volatility

BBBI vs. OVT - Volatility Comparison

The current volatility for BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (BBBI) is 1.22%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.54%. This indicates that BBBI experiences smaller price fluctuations and is considered to be less risky than OVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBBI	OVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.54%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	2.83%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.03%	3.68%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.01%	4.67%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.01%	4.56%	+0.45%

BBBI vs. OVT - Expense Ratio Comparison

BBBI has a 0.19% expense ratio, which is lower than OVT's 0.80% expense ratio.

Dividends

BBBI vs. OVT - Dividend Comparison

BBBI's dividend yield for the trailing twelve months is around 4.79%, less than OVT's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021
BBBI BondBloxx BBB Rated 5-10 Year Corporate Bond ETF	4.79%	4.90%	4.61%	0.00%	0.00%	0.00%
OVT Overlay Shares Short Term Bond ETF	8.21%	7.21%	6.15%	5.11%	4.12%	4.41%

Frequently Asked Questions

Can I hold both BBBI and OVT in my portfolio?

BBBI and OVT have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBBI or OVT?

OVT has higher volatility (1.54%) compared to BBBI (1.22%). In terms of maximum drawdown, BBBI dropped -4.11% vs OVT's -13.59%.

Which ETF is better, BBBI or OVT?

On 1-year performance, OVT leads with 7.93% vs 5.53% for BBBI. On fees, BBBI is cheaper at 0.19% per year. On volatility, BBBI has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBBI or OVT?

Over the 1-year period, OVT has performed better with a 7.93% return vs 5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBBI or OVT?

BBBI is cheaper with a 0.19% expense ratio, compared with 0.80% for OVT.

Which ETF pays a higher dividend yield, BBBI or OVT?

OVT has the higher dividend yield at 8.21%, compared with 4.79% for BBBI.

What is the main difference between BBBI and OVT?

They also come from different issuers: BondBloxx and Liquid Strategies. Their fees differ too: 0.19% for BBBI and 0.80% for OVT.

Which has better risk-adjusted returns?

OVT currently has the higher Sharpe Ratio (2.17 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.