BSSX vs. OVM
BSSX (Invesco BulletShares 2033 Municipal Bond ETF) and OVM (Overlay Shares Municipal Bond ETF) are both Municipal Bonds funds. BSSX is passively managed, while OVM is actively managed. Over the past year, BSSX returned 6.78% vs 10.31% for OVM. At a 0.48 correlation, their price movements are largely independent. BSSX charges 0.18%/yr vs 0.82%/yr for OVM.
Performance
BSSX vs. OVM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BSSX achieves a 1.09% return, which is significantly lower than OVM's 3.51% return.
BSSX
- 1D
- 0.05%
- 1M
- 1.49%
- YTD
- 1.09%
- 6M
- 1.35%
- 1Y
- 6.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVM
- 1D
- -0.23%
- 1M
- 0.91%
- YTD
- 3.51%
- 6M
- 3.37%
- 1Y
- 10.31%
- 3Y*
- 4.89%
- 5Y*
- 1.46%
- 10Y*
- —
BSSX vs. OVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 1.09% | 3.79% | -0.09% | 7.50% |
OVM Overlay Shares Municipal Bond ETF | 3.51% | 4.14% | 3.42% | 4.95% |
Correlation
The correlation between BSSX and OVM is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BSSX vs. OVM — Risk / Return Rank
BSSX
OVM
BSSX vs. OVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) 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.
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.
| BSSX | OVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.48 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 4.25 | -2.17 |
| Martin ratioReturn relative to average drawdown | 6.33 | 16.03 | -9.70 |
Loading charts...
Drawdowns
BSSX vs. OVM - Drawdown Comparison
The maximum BSSX drawdown since its inception was -8.12%, smaller than the maximum OVM drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for BSSX and OVM.
Loading charts...
Drawdown Indicators
| BSSX | OVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.12% | -15.58% | +7.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -2.44% | -0.84% |
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 | -0.93% | -0.66% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -3.98% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.64% | +0.43% |
Volatility
BSSX vs. OVM - Volatility Comparison
The current volatility for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) is 0.92%, while Overlay Shares Municipal Bond ETF (OVM) has a volatility of 1.47%. This indicates that BSSX experiences smaller price fluctuations and is considered to be less risky than OVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BSSX | OVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.47% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 3.48% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 4.27% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 5.42% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 6.54% | +1.22% |
BSSX vs. OVM - Expense Ratio Comparison
BSSX has a 0.18% expense ratio, which is lower than OVM's 0.82% expense ratio.
Dividends
BSSX vs. OVM - Dividend Comparison
BSSX's dividend yield for the trailing twelve months is around 3.30%, less than OVM's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 3.30% | 3.27% | 3.29% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% |
OVM Overlay Shares Municipal Bond ETF | 6.14% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% |
Frequently Asked Questions
BSSX and OVM have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVM has higher volatility (1.47%) compared to BSSX (0.92%). In terms of maximum drawdown, BSSX dropped -8.12% vs OVM's -15.58%.
On 1-year performance, OVM leads with 10.31% vs 6.78% for BSSX. On fees, BSSX is cheaper at 0.18% per year. On volatility, BSSX has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OVM has performed better with a 10.31% return vs 6.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSSX is cheaper with a 0.18% expense ratio, compared with 0.82% for OVM.
OVM has the higher dividend yield at 6.14%, compared with 3.30% for BSSX.
They also come from different issuers: Invesco and Liquid Strategies. Their fees differ too: 0.18% for BSSX and 0.82% for OVM.
OVM currently has the higher Sharpe Ratio (2.43 vs 2.06), 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.
Find the right allocation for BSSX and OVM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer