BSMP vs. OVM

Last updated Jun 3, 2026

BSMP (Invesco BulletShares 2025 Municipal Bond ETF) and OVM (Overlay Shares Municipal Bond ETF) are both Municipal Bonds funds. BSMP is passively managed, while OVM is actively managed. At a 0.36 correlation, their price movements are largely independent. BSMP charges 0.18%/yr vs 0.82%/yr for OVM.

Performance

BSMP vs. OVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Overlay Shares Municipal Bond ETF (OVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSMP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVM

• 1D: 0.29%
• 1M: 1.14%
• YTD: 4.13%
• 6M: 4.81%
• 1Y: 12.10%
• 3Y*: 5.43%
• 5Y*: 1.68%
• 10Y*: —

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

BSMP vs. OVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	2.27%	2.46%	3.14%	-5.09%	0.60%	4.91%	0.66%
OVM Overlay Shares Municipal Bond ETF	4.13%	4.14%	3.42%	7.35%	-11.26%	4.22%	6.17%	1.72%

Correlation

The correlation between BSMP and OVM is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.36

Over the past year, the correlation between BSMP and OVM has dropped to 0.12 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

BSMP vs. OVM - Sectors Allocation Comparison

Sectors	BSMP	OVM
Financial Services	50.3%	11.8%
Real Estate	2.7%	1.9%
Industrials	0.4%	8.3%
Consumer Cyclical	0.0%	10.1%
Communication Services	0.0%	11.2%
Basic Materials	-	1.8%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

BSMP vs. OVM — Risk / Return Rank

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

OVM

OVM Risk / Return Rank: 88
OVM Sharpe Ratio Rank: 87
OVM Sortino Ratio Rank: 91
OVM Omega Ratio Rank: 91
OVM Calmar Ratio Rank: 86
OVM Martin Ratio Rank: 87

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.

BSMP vs. OVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) 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.

Sharpe Ratios by Period

	BSMP	OVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.43	—

Drawdowns

Drawdown Indicators

	BSMP	OVM	Difference
Max Drawdown Largest peak-to-trough decline	—	-15.58%	—
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 Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-4.01%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.63%	—

Volatility

Volatility by Period

	BSMP	OVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.16%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.39%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.55%	—

BSMP vs. OVM - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is lower than OVM's 0.82% expense ratio.

Dividends

BSMP vs. OVM - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.27%, less than OVM's 6.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	1.27%	2.35%	2.53%	2.20%	1.23%	0.72%	1.32%	0.35%
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

Can I hold both BSMP and OVM in my portfolio?

BSMP and OVM have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSMP or OVM?

On fees, BSMP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMP or OVM?

BSMP is cheaper with a 0.18% expense ratio, compared with 0.82% for OVM.

Which ETF pays a higher dividend yield, BSMP or OVM?

OVM has the higher dividend yield at 6.10%, compared with 1.27% for BSMP.

What is the main difference between BSMP and OVM?

They also come from different issuers: Invesco and Liquid Strategies. Their fees differ too: 0.18% for BSMP and 0.82% for OVM.