BKMS vs. OVM
BKMS (BNY Mellon Municipal Short Duration ETF) and OVM (Overlay Shares Municipal Bond ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. BKMS charges 0.35%/yr vs 0.82%/yr for OVM.
Performance
BKMS vs. OVM - Performance Comparison
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Returns By Period
BKMS
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVM
- 1D
- 0.24%
- 1M
- 1.20%
- YTD
- 4.20%
- 6M
- 4.67%
- 1Y
- 11.88%
- 3Y*
- 5.37%
- 5Y*
- 1.63%
- 10Y*
- —
BKMS vs. OVM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BKMS BNY Mellon Municipal Short Duration ETF | 0.62% |
OVM Overlay Shares Municipal Bond ETF | 3.12% |
Correlation
The correlation between BKMS and OVM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026 | 0.24 |
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Return for Risk
BKMS vs. OVM — Risk / Return Rank
BKMS
OVM
BKMS vs. OVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Short Duration ETF (BKMS) and Overlay Shares Municipal Bond ETF (OVM). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BKMS | OVM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.87 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.43 | +0.85 |
Drawdowns
BKMS vs. OVM - Drawdown Comparison
The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum OVM drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for BKMS and OVM.
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Drawdown Indicators
| BKMS | OVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.87% | -15.58% | +14.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.44% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.20% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.58% | — |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -4.01% | +3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.63% | — |
Volatility
BKMS vs. OVM - Volatility Comparison
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Volatility by Period
| BKMS | OVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.27% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.37% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.24% | 4.16% | -2.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.24% | 5.39% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.24% | 6.54% | -5.30% |
BKMS vs. OVM - Expense Ratio Comparison
BKMS has a 0.35% expense ratio, which is lower than OVM's 0.82% expense ratio.
Dividends
BKMS vs. OVM - Dividend Comparison
BKMS's dividend yield for the trailing twelve months is around 1.11%, less than OVM's 6.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BKMS BNY Mellon Municipal Short Duration ETF | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OVM Overlay Shares Municipal Bond ETF | 6.10% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% |
Frequently Asked Questions
BKMS and OVM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BKMS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BKMS is cheaper with a 0.35% expense ratio, compared with 0.82% for OVM.
OVM has the higher dividend yield at 6.10%, compared with 1.11% for BKMS.
They also come from different issuers: BNY Mellon and Liquid Strategies. Their fees differ too: 0.35% for BKMS and 0.82% for OVM.
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