FLOT vs. OVT
Compare and contrast key facts about iShares Floating Rate Bond ETF (FLOT) and Overlay Shares Short Term Bond ETF (OVT).
FLOT and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLOT is a passively managed fund by iShares that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Jun 14, 2011. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.
Performance
FLOT vs. OVT - Performance Comparison
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FLOT vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 0.82% | 4.91% | 6.53% | 6.43% | 1.28% | 0.29% |
OVT Overlay Shares Short Term Bond ETF | 1.31% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Returns By Period
In the year-to-date period, FLOT achieves a 0.82% return, which is significantly lower than OVT's 1.31% return.
FLOT
- 1D
- 0.08%
- 1M
- 0.25%
- YTD
- 0.82%
- 6M
- 1.94%
- 1Y
- 4.49%
- 3Y*
- 5.83%
- 5Y*
- 4.02%
- 10Y*
- 2.96%
OVT
- 1D
- 0.10%
- 1M
- -0.38%
- YTD
- 1.31%
- 6M
- 3.12%
- 1Y
- 8.35%
- 3Y*
- 7.26%
- 5Y*
- 3.07%
- 10Y*
- —
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FLOT vs. OVT - Expense Ratio Comparison
FLOT has a 0.20% expense ratio, which is lower than OVT's 0.80% expense ratio.
Return for Risk
FLOT vs. OVT — Risk / Return Rank
FLOT
OVT
FLOT vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Bond ETF (FLOT) 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.
| FLOT | OVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.12 | 2.10 | +0.02 |
Sortino ratioReturn per unit of downside risk | 2.66 | 3.01 | -0.35 |
Omega ratioGain probability vs. loss probability | 1.96 | 1.42 | +0.54 |
Calmar ratioReturn relative to maximum drawdown | 2.88 | 4.35 | -1.47 |
Martin ratioReturn relative to average drawdown | 22.40 | 15.81 | +6.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLOT | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 2.10 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.28 | 0.67 | +1.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.65 | 0.00 |
Correlation
The correlation between FLOT and OVT is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FLOT vs. OVT - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.68%, less than OVT's 8.79% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.68% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
OVT Overlay Shares Short Term Bond ETF | 8.79% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FLOT vs. OVT - Drawdown Comparison
The maximum FLOT drawdown since its inception was -13.54%, roughly equal to the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for FLOT and OVT.
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Drawdown Indicators
| FLOT | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -13.59% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -1.94% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | -13.59% | +11.23% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.72% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -3.49% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.53% | -0.33% |
Volatility
FLOT vs. OVT - Volatility Comparison
The current volatility for iShares Floating Rate Bond ETF (FLOT) is 0.50%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.46%. This indicates that FLOT 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.
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Volatility by Period
| FLOT | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.46% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 0.61% | 2.83% | -2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.12% | 3.99% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 4.63% | -2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 4.59% | -0.45% |