GXIG vs. OVT
GXIG (Global X Investment Grade Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. Both are actively managed. Over the past year, GXIG returned 4.30% vs 7.33% for OVT. A 0.62 correlation means they provide meaningful diversification when combined. GXIG charges 0.14%/yr vs 0.80%/yr for OVT.
Performance
GXIG vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, GXIG achieves a 0.46% return, which is significantly lower than OVT's 1.98% return.
GXIG
- 1D
- 0.12%
- 1M
- 0.68%
- YTD
- 0.46%
- 6M
- 0.64%
- 1Y
- 4.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVT
- 1D
- -0.14%
- 1M
- -0.17%
- YTD
- 1.98%
- 6M
- 1.98%
- 1Y
- 7.33%
- 3Y*
- 7.26%
- 5Y*
- 2.84%
- 10Y*
- —
GXIG vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GXIG Global X Investment Grade Corporate Bond ETF | 0.46% | 4.61% |
OVT Overlay Shares Short Term Bond ETF | 1.98% | 5.91% |
Correlation
The correlation between GXIG and OVT is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.62 |
The correlation between GXIG and OVT has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.
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Return for Risk
GXIG vs. OVT — Risk / Return Rank
GXIG
OVT
GXIG vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Investment Grade Corporate Bond ETF (GXIG) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GXIG | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.39 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 4.74 | -3.39 |
| Martin ratioReturn relative to average drawdown | 3.30 | 14.89 | -11.59 |
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Drawdowns
GXIG vs. OVT - Drawdown Comparison
The maximum GXIG drawdown since its inception was -3.18%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for GXIG and OVT.
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Drawdown Indicators
| GXIG | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.18% | -13.59% | +10.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -1.55% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.59% | — |
Current DrawdownCurrent decline from peak | -1.33% | -1.02% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -3.37% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 0.49% | +0.82% |
Volatility
GXIG vs. OVT - Volatility Comparison
The current volatility for Global X Investment Grade Corporate Bond ETF (GXIG) is 1.20%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.54%. This indicates that GXIG 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
| GXIG | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.54% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.13% | 2.83% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 3.68% | +2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 4.67% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 4.56% | +1.16% |
GXIG vs. OVT - Expense Ratio Comparison
GXIG has a 0.14% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
GXIG vs. OVT - Dividend Comparison
GXIG's dividend yield for the trailing twelve months is around 5.90%, less than OVT's 8.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GXIG Global X Investment Grade Corporate Bond ETF | 5.90% | 3.83% | 0.00% | 0.00% | 0.00% | 0.00% |
OVT Overlay Shares Short Term Bond ETF | 8.22% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% |
Frequently Asked Questions
GXIG and OVT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (1.54%) compared to GXIG (1.20%). In terms of maximum drawdown, GXIG dropped -3.18% vs OVT's -13.59%.
On 1-year performance, OVT leads with 7.33% vs 4.30% for GXIG. On fees, GXIG is cheaper at 0.14% per year. On volatility, GXIG has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OVT has performed better with a 7.33% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXIG is cheaper with a 0.14% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.22%, compared with 5.90% for GXIG.
They also come from different issuers: Global X and Liquid Strategies. Their fees differ too: 0.14% for GXIG and 0.80% for OVT.
OVT currently has the higher Sharpe Ratio (2.01 vs 0.75), 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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