IBDP vs. OVT

Last updated Jun 4, 2026

IBDP (iShares iBonds Dec 2024 Term Corporate ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. IBDP is passively managed, while OVT is actively managed. At a 0.33 correlation, their price movements are largely independent. IBDP charges 0.10%/yr vs 0.80%/yr for OVT.

Performance

IBDP vs. OVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Corporate ETF (IBDP) and Overlay Shares Short Term Bond ETF (OVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBDP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVT

• 1D: -0.16%
• 1M: 0.55%
• YTD: 2.61%
• 6M: 3.07%
• 1Y: 8.92%
• 3Y*: 7.44%
• 5Y*: 3.01%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBDP vs. OVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBDP iShares iBonds Dec 2024 Term Corporate ETF	0.00%	0.00%	5.02%	5.16%	-3.89%	-0.60%
OVT Overlay Shares Short Term Bond ETF	2.61%	7.61%	7.44%	7.73%	-9.68%	2.07%

Correlation

The correlation between IBDP and OVT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021	0.33

The correlation between IBDP and OVT shifts across timeframes, from 0.14 (3 years) to 0.33 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBDP vs. OVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OVT

OVT Risk / Return Rank: 85
OVT Sharpe Ratio Rank: 80
OVT Sortino Ratio Rank: 84
OVT Omega Ratio Rank: 84
OVT Calmar Ratio Rank: 91
OVT Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBDP vs. OVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Corporate ETF (IBDP) 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.

Sharpe Ratios by Period

	IBDP	OVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.60	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.69	—

Drawdowns

Drawdown Indicators

	IBDP	OVT	Difference
Max Drawdown Largest peak-to-trough decline	—	-13.59%	—
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 Drawdown Current decline from peak	—	-0.41%	—
Average Drawdown Average peak-to-trough decline	—	-3.39%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.45%	—

Volatility

Volatility by Period

	IBDP	OVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.44%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.63%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.54%	—

IBDP vs. OVT - Expense Ratio Comparison

IBDP has a 0.10% expense ratio, which is lower than OVT's 0.80% expense ratio.

Dividends

IBDP vs. OVT - Dividend Comparison

IBDP has not paid dividends to shareholders, while OVT's dividend yield for the trailing twelve months is around 8.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDP iShares iBonds Dec 2024 Term Corporate ETF	0.00%	0.00%	3.93%	3.01%	2.06%	1.86%	2.51%	3.15%	3.35%	3.15%	3.23%	3.74%
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

Can I hold both IBDP and OVT in my portfolio?

IBDP and OVT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBDP or OVT?

On fees, IBDP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBDP or OVT?

IBDP is cheaper with a 0.10% expense ratio, compared with 0.80% for OVT.

Which ETF pays a higher dividend yield, IBDP or OVT?

OVT has the higher dividend yield at 8.17%, compared with 0.00% for IBDP.

What is the main difference between IBDP and OVT?

They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.10% for IBDP and 0.80% for OVT.