FIIG vs. OVT

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) and Overlay Shares Short Term Bond ETF (OVT).

FIIG and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FIIG is an actively managed fund by First Trust. It was launched on Aug 1, 2023. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.

Performance

FIIG vs. OVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) and Overlay Shares Short Term Bond ETF (OVT). The values are adjusted to include any dividend payments, if applicable.

FIIG vs. OVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	-0.98%	8.80%	2.15%	6.83%
OVT Overlay Shares Short Term Bond ETF	1.21%	7.61%	7.44%	3.89%

Returns By Period

In the year-to-date period, FIIG achieves a -0.98% return, which is significantly lower than OVT's 1.21% return.

FIIG

• 1D: 0.68%
• 1M: -1.85%
• YTD: -0.98%
• 6M: 0.28%
• 1Y: 4.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVT

• 1D: 0.59%
• 1M: -0.82%
• YTD: 1.21%
• 6M: 3.29%
• 1Y: 8.33%
• 3Y*: 7.22%
• 5Y*: 3.05%
• 10Y*: —

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

FIIG vs. OVT - Expense Ratio Comparison

FIIG has a 0.65% expense ratio, which is lower than OVT's 0.80% expense ratio.

OVT

Overlay Shares Short Term Bond ETF

FIIG

First Trust Intermediate Duration Investment Grade Corporate ETF

Return for Risk

FIIG vs. OVT — Risk / Return Rank

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

FIIG

FIIG Risk / Return Rank: 54
FIIG Sharpe Ratio Rank: 53
FIIG Sortino Ratio Rank: 50
FIIG Omega Ratio Rank: 45
FIIG Calmar Ratio Rank: 64
FIIG Martin Ratio Rank: 57

OVT

OVT Risk / Return Rank: 94
OVT Sharpe Ratio Rank: 92
OVT Sortino Ratio Rank: 95
OVT Omega Ratio Rank: 93
OVT Calmar Ratio Rank: 96
OVT Martin Ratio Rank: 95

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.

FIIG vs. OVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) 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.

	FIIG	OVT	Difference
Sharpe ratio Return per unit of total volatility	0.98	2.10	-1.12
Sortino ratio Return per unit of downside risk	1.37	3.00	-1.62
Omega ratio Gain probability vs. loss probability	1.18	1.42	-0.24
Calmar ratio Return relative to maximum drawdown	1.68	4.46	-2.78
Martin ratio Return relative to average drawdown	5.73	16.27	-10.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIIG vs. OVT - Sharpe Ratio Comparison

The current FIIG Sharpe Ratio is 0.98, which is lower than the OVT Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FIIG and OVT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FIIG	OVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	2.10	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.64	+0.42

Correlation

The correlation between FIIG and OVT is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FIIG vs. OVT - Dividend Comparison

FIIG's dividend yield for the trailing twelve months is around 4.92%, less than OVT's 8.80% yield.

	TTM	2025	2024	2023	2022	2021
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	4.92%	4.76%	4.45%	1.72%	0.00%	0.00%
OVT Overlay Shares Short Term Bond ETF	8.80%	7.21%	6.15%	5.11%	4.12%	4.41%

Drawdowns

FIIG vs. OVT - Drawdown Comparison

The maximum FIIG drawdown since its inception was -5.50%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for FIIG and OVT.

Drawdown Indicators

	FIIG	OVT	Difference
Max Drawdown Largest peak-to-trough decline	-5.50%	-13.59%	+8.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-1.94%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.59%	—
Current Drawdown Current decline from peak	-1.92%	-0.82%	-1.10%
Average Drawdown Average peak-to-trough decline	-1.39%	-3.50%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.53%	+0.39%

Volatility

FIIG vs. OVT - Volatility Comparison

First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) has a higher volatility of 2.22% compared to Overlay Shares Short Term Bond ETF (OVT) at 1.46%. This indicates that FIIG's price experiences larger fluctuations and is considered to be riskier than OVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIIG	OVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	1.46%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	2.83%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	5.12%	3.99%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.96%	4.63%	+1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.96%	4.59%	+1.37%