GBF vs. OVB
Compare and contrast key facts about iShares Government/Credit Bond ETF (GBF) and Overlay Shares Core Bond ETF (OVB).
GBF and OVB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GBF is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Government/Credit Bond Index. It was launched on Jan 11, 2007. OVB is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019.
Performance
GBF vs. OVB - Performance Comparison
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GBF vs. OVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.09% | 6.41% | 0.99% | 5.79% | -13.85% | -2.30% | 8.76% | -0.28% |
OVB Overlay Shares Core Bond ETF | 1.53% | 7.72% | 4.03% | 6.89% | -16.96% | 0.71% | 9.40% | 1.22% |
Returns By Period
In the year-to-date period, GBF achieves a 0.09% return, which is significantly lower than OVB's 1.53% return.
GBF
- 1D
- 0.22%
- 1M
- -1.72%
- YTD
- 0.09%
- 6M
- 0.70%
- 1Y
- 3.82%
- 3Y*
- 3.20%
- 5Y*
- -0.03%
- 10Y*
- 1.58%
OVB
- 1D
- 0.72%
- 1M
- -1.39%
- YTD
- 1.53%
- 6M
- 3.08%
- 1Y
- 7.93%
- 3Y*
- 5.42%
- 5Y*
- 0.90%
- 10Y*
- —
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GBF vs. OVB - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than OVB's 0.79% expense ratio.
Return for Risk
GBF vs. OVB — Risk / Return Rank
GBF
OVB
GBF vs. OVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) and Overlay Shares Core Bond ETF (OVB). 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.
| GBF | OVB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.26 | -0.35 |
Sortino ratioReturn per unit of downside risk | 1.29 | 1.81 | -0.51 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.01 | -1.38 |
Martin ratioReturn relative to average drawdown | 4.61 | 8.76 | -4.15 |
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
| GBF | OVB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.26 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.12 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.24 | +0.34 |
Correlation
The correlation between GBF and OVB is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GBF vs. OVB - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.74%, less than OVB's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 3.74% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
OVB Overlay Shares Core Bond ETF | 7.37% | 6.00% | 5.81% | 5.20% | 4.67% | 4.59% | 3.88% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GBF vs. OVB - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, smaller than the maximum OVB drawdown of -21.69%. Use the drawdown chart below to compare losses from any high point for GBF and OVB.
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Drawdown Indicators
| GBF | OVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -21.69% | +2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.67% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | -21.69% | +3.24% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.96% | -1.39% | -3.57% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -7.21% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.92% | -0.04% |
Volatility
GBF vs. OVB - Volatility Comparison
The current volatility for iShares Government/Credit Bond ETF (GBF) is 1.64%, while Overlay Shares Core Bond ETF (OVB) has a volatility of 2.44%. This indicates that GBF experiences smaller price fluctuations and is considered to be less risky than OVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBF | OVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 2.44% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 4.67% | -2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 6.34% | -2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 7.30% | -1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 7.65% | -2.37% |