FLRN vs. OVT
FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. FLRN is passively managed, while OVT is actively managed. Over the past 5 years, FLRN returned 4.19%/yr vs 3.01%/yr for OVT. At a 0.14 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.80%/yr for OVT.
Performance
FLRN vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, FLRN achieves a 1.87% return, which is significantly lower than OVT's 2.61% return.
FLRN
- 1D
- 0.03%
- 1M
- 0.45%
- YTD
- 1.87%
- 6M
- 2.19%
- 1Y
- 4.88%
- 3Y*
- 5.67%
- 5Y*
- 4.19%
- 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*
- —
FLRN vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.87% | 5.01% | 6.32% | 6.54% | 1.31% | 0.23% |
OVT Overlay Shares Short Term Bond ETF | 2.61% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Correlation
The correlation between FLRN and OVT is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.14 |
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Return for Risk
FLRN vs. OVT — Risk / Return Rank
FLRN
OVT
FLRN vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) 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.
| FLRN | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.58 | ||
| Sortino ratioReturn per unit of downside risk | +9.36 | ||
| Omega ratioGain probability vs. loss probability | 3.44 | 1.51 | +1.93 |
| Calmar ratioReturn relative to maximum drawdown | 21.54 | 5.78 | +15.76 |
| Martin ratioReturn relative to average drawdown | 130.06 | 20.00 | +110.06 |
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
| FLRN | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.18 | 2.60 | +4.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.50 | 0.65 | +1.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.69 | -0.19 |
Drawdowns
FLRN vs. OVT - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for FLRN and OVT.
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Drawdown Indicators
| FLRN | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -13.59% | -1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -1.55% | +1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -3.55% | +2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -13.59% | +11.43% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.41% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -3.39% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.45% | -0.41% |
Volatility
FLRN vs. OVT - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) is 0.15%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 0.83%. This indicates that FLRN 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
| FLRN | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.83% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 0.52% | 2.52% | -2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 3.44% | -2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 4.63% | -2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 4.54% | -0.34% |
FLRN vs. OVT - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
FLRN vs. OVT - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.51%, less than OVT's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
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
FLRN and OVT have a correlation of 0.18, 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 FLRN (0.15%). In terms of maximum drawdown, FLRN dropped -14.64% vs OVT's -13.59%.
On 5-year performance, FLRN leads with 4.19% vs 3.01% for OVT. On fees, FLRN is cheaper at 0.15% per year. On volatility, FLRN has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLRN has performed better with a 4.19% return vs 3.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.17%, compared with 4.51% for FLRN.
They also come from different issuers: State Street and Liquid Strategies. Their fees differ too: 0.15% for FLRN and 0.80% for OVT.
FLRN currently has the higher Sharpe Ratio (7.18 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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