FLOT vs. OVT
FLOT (iShares Floating Rate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. FLOT is passively managed, while OVT is actively managed. Over the past 5 years, FLOT returned 4.20%/yr vs 3.01%/yr for OVT. At a 0.19 correlation, their price movements are largely independent. FLOT charges 0.20%/yr vs 0.80%/yr for OVT.
Performance
FLOT vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, FLOT achieves a 1.89% return, which is significantly lower than OVT's 2.61% return.
FLOT
- 1D
- 0.04%
- 1M
- 0.51%
- YTD
- 1.89%
- 6M
- 2.21%
- 1Y
- 4.91%
- 3Y*
- 5.65%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
OVT
- 1D
- -0.16%
- 1M
- 0.55%
- YTD
- 2.61%
- 6M
- 3.07%
- 1Y
- 8.92%
- 3Y*
- 7.44%
- 5Y*
- 3.01%
- 10Y*
- —
FLOT vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 1.89% | 4.91% | 6.53% | 6.43% | 1.28% | 0.29% |
OVT Overlay Shares Short Term Bond ETF | 2.61% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Correlation
The correlation between FLOT and OVT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.19 |
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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 | +4.08 | ||
| Sortino ratioReturn per unit of downside risk | +8.33 | ||
| Omega ratioGain probability vs. loss probability | 3.31 | 1.51 | +1.80 |
| Calmar ratioReturn relative to maximum drawdown | 11.42 | 5.78 | +5.64 |
| Martin ratioReturn relative to average drawdown | 106.82 | 20.00 | +86.81 |
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 | 6.68 | 2.60 | +4.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.38 | 0.65 | +1.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.69 | -0.02 |
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 | -0.43% | -1.55% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -3.55% | +1.98% |
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 | 0.00% | -0.41% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -3.39% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.45% | -0.40% |
Volatility
FLOT vs. OVT - Volatility Comparison
The current volatility for iShares Floating Rate Bond ETF (FLOT) is 0.18%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 0.83%. 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 | 0.18% | 0.83% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 2.52% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 3.44% | -2.70% |
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 | 4.15% | 4.54% | -0.39% |
FLOT vs. OVT - Expense Ratio Comparison
FLOT has a 0.20% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
FLOT vs. OVT - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.53%, less than OVT's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 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 | 8.17% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLOT and OVT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (0.83%) compared to FLOT (0.18%). In terms of maximum drawdown, FLOT dropped -13.54% vs OVT's -13.59%.
On 5-year performance, FLOT leads with 4.20% vs 3.01% for OVT. On fees, FLOT is cheaper at 0.20% per year. On volatility, FLOT has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLOT has performed better with a 4.20% return vs 3.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.20% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.17%, compared with 4.53% for FLOT.
They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.20% for FLOT and 0.80% for OVT.
FLOT currently has the higher Sharpe Ratio (6.68 vs 2.60), 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.
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