GIGB vs. OVT
GIGB (Goldman Sachs Access Investment Grade Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. GIGB is passively managed, while OVT is actively managed. Over the past 5 years, GIGB returned 0.45%/yr vs 3.01%/yr for OVT. A 0.63 correlation means they provide meaningful diversification when combined. GIGB charges 0.14%/yr vs 0.80%/yr for OVT.
Performance
GIGB vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, GIGB achieves a 0.68% return, which is significantly lower than OVT's 2.61% return.
GIGB
- 1D
- -0.20%
- 1M
- 0.63%
- YTD
- 0.68%
- 6M
- 0.43%
- 1Y
- 6.01%
- 3Y*
- 5.10%
- 5Y*
- 0.45%
- 10Y*
- —
OVT
- 1D
- -0.16%
- 1M
- 0.55%
- YTD
- 2.61%
- 6M
- 3.07%
- 1Y
- 8.92%
- 3Y*
- 7.44%
- 5Y*
- 3.01%
- 10Y*
- —
GIGB vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 0.68% | 7.58% | 1.68% | 8.80% | -15.80% | -0.44% |
OVT Overlay Shares Short Term Bond ETF | 2.61% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Correlation
The correlation between GIGB and OVT is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.63 |
The correlation between GIGB and OVT has been stable across timeframes, ranging from 0.62 to 0.66 - a consistent structural relationship.
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Return for Risk
GIGB vs. OVT — Risk / Return Rank
GIGB
OVT
GIGB vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) 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.
| GIGB | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.51 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 5.78 | -3.67 |
| Martin ratioReturn relative to average drawdown | 6.65 | 20.00 | -13.36 |
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
| GIGB | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 2.60 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.65 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.69 | -0.36 |
Drawdowns
GIGB vs. OVT - Drawdown Comparison
The maximum GIGB drawdown since its inception was -22.25%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for GIGB and OVT.
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Drawdown Indicators
| GIGB | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -13.59% | -8.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -1.55% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -6.69% | -3.55% | -3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -22.25% | -13.59% | -8.66% |
Current DrawdownCurrent decline from peak | -0.94% | -0.41% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -3.39% | -2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.45% | +0.46% |
Volatility
GIGB vs. OVT - Volatility Comparison
Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) has a higher volatility of 1.35% compared to Overlay Shares Short Term Bond ETF (OVT) at 0.83%. This indicates that GIGB'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.
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Volatility by Period
| GIGB | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.83% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.52% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 3.44% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 4.63% | +2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.67% | 4.54% | +3.13% |
GIGB vs. OVT - Expense Ratio Comparison
GIGB has a 0.14% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
GIGB vs. OVT - Dividend Comparison
GIGB's dividend yield for the trailing twelve months is around 4.61%, less than OVT's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 4.61% | 4.69% | 4.45% | 3.67% | 3.12% | 2.25% | 2.62% | 3.22% | 3.31% | 1.55% |
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% |
Frequently Asked Questions
GIGB and OVT have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GIGB has higher volatility (1.35%) compared to OVT (0.83%). In terms of maximum drawdown, GIGB dropped -22.25% vs OVT's -13.59%.
On 5-year performance, OVT leads with 3.01% vs 0.45% for GIGB. On fees, GIGB is cheaper at 0.14% per year. On volatility, OVT has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OVT has performed better with a 3.01% return vs 0.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GIGB is cheaper with a 0.14% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.17%, compared with 4.61% for GIGB.
They also come from different issuers: Goldman Sachs and Liquid Strategies. Their fees differ too: 0.14% for GIGB and 0.80% for OVT.
OVT currently has the higher Sharpe Ratio (2.60 vs 1.40), 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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