HBDC vs. OVT
HBDC (Hilton BDC Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. HBDC charges 0.39%/yr vs 0.80%/yr for OVT.
Performance
HBDC vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, HBDC achieves a -0.04% return, which is significantly lower than OVT's 1.88% return.
HBDC
- 1D
- -0.14%
- 1M
- 0.27%
- YTD
- -0.04%
- 6M
- 0.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVT
- 1D
- -0.90%
- 1M
- -0.50%
- YTD
- 1.88%
- 6M
- 2.36%
- 1Y
- 8.22%
- 3Y*
- 7.22%
- 5Y*
- 2.87%
- 10Y*
- —
HBDC vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBDC Hilton BDC Corporate Bond ETF | -0.04% | 2.66% |
OVT Overlay Shares Short Term Bond ETF | 1.88% | 6.01% |
Correlation
The correlation between HBDC and OVT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | 0.38 |
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Return for Risk
HBDC vs. OVT — Risk / Return Rank
HBDC
OVT
HBDC vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hilton BDC Corporate Bond ETF (HBDC) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| HBDC | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.32 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.65 | +0.24 |
Drawdowns
HBDC vs. OVT - Drawdown Comparison
The maximum HBDC drawdown since its inception was -2.96%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for HBDC and OVT.
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Drawdown Indicators
| HBDC | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.96% | -13.59% | +10.63% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.55% | — |
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 | -0.67% | -1.12% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -3.38% | +2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.45% | — |
Volatility
HBDC vs. OVT - Volatility Comparison
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Volatility by Period
| HBDC | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.69% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.98% | 3.57% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 4.65% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.98% | 4.55% | -1.57% |
HBDC vs. OVT - Expense Ratio Comparison
HBDC has a 0.39% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
HBDC vs. OVT - Dividend Comparison
HBDC's dividend yield for the trailing twelve months is around 4.53%, less than OVT's 8.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HBDC Hilton BDC Corporate Bond ETF | 4.53% | 2.42% | 0.00% | 0.00% | 0.00% | 0.00% |
OVT Overlay Shares Short Term Bond ETF | 8.23% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% |
Frequently Asked Questions
HBDC and OVT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBDC is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBDC is cheaper with a 0.39% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.23%, compared with 4.53% for HBDC.
They also come from different issuers: Hilton and Liquid Strategies. Their fees differ too: 0.39% for HBDC and 0.80% for OVT.
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