IBDR vs. OVT
IBDR (iShares iBonds Dec 2026 Term Corporate ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. IBDR is passively managed, while OVT is actively managed. Over the past 5 years, IBDR returned 1.53%/yr vs 2.84%/yr for OVT. A 0.53 correlation means they provide meaningful diversification when combined. IBDR charges 0.10%/yr vs 0.80%/yr for OVT.
Performance
IBDR vs. OVT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBDR achieves a 1.86% return, which is significantly lower than OVT's 2.30% return.
IBDR
- 1D
- 0.00%
- 1M
- 0.25%
- 6M
- 1.82%
- YTD
- 1.86%
- 1Y
- 4.28%
- 3Y*
- 5.14%
- 5Y*
- 1.53%
- 10Y*
- —
OVT
- 1D
- -0.25%
- 1M
- 0.13%
- 6M
- 2.01%
- YTD
- 2.30%
- 1Y
- 7.09%
- 3Y*
- 7.11%
- 5Y*
- 2.84%
- 10Y*
- —
IBDR vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.86% | 4.99% | 4.98% | 5.96% | -8.28% | -1.20% |
OVT Overlay Shares Short Term Bond ETF | 2.30% | 7.61% | 7.44% | 7.73% | -9.68% | 1.73% |
Correlation
The correlation between IBDR and OVT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | 0.53 |
Over the past year, the correlation between IBDR and OVT has dropped to 0.11 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBDR vs. OVT — Risk / Return Rank
IBDR
OVT
IBDR vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) 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.
| IBDR | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.83 | ||
| Sortino ratioReturn per unit of downside risk | +11.67 | ||
| Omega ratioGain probability vs. loss probability | 3.35 | 1.38 | +1.97 |
| Calmar ratioReturn relative to maximum drawdown | 52.00 | 4.59 | +47.41 |
| Martin ratioReturn relative to average drawdown | 181.33 | 13.88 | +167.45 |
Loading charts...
Drawdowns
IBDR vs. OVT - Drawdown Comparison
The maximum IBDR drawdown since its inception was -16.06%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for IBDR and OVT.
Loading charts...
Drawdown Indicators
| IBDR | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -13.59% | -2.47% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -1.55% | +1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | -3.55% | +2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -13.13% | -13.59% | +0.46% |
Current DrawdownCurrent decline from peak | -0.04% | -0.71% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -3.34% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.51% | -0.49% |
Volatility
IBDR vs. OVT - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) is 0.21%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.32%. This indicates that IBDR 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.
Loading charts...
Volatility by Period
| IBDR | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 1.32% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.37% | 2.84% | -2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.64% | 3.66% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 4.68% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.84% | 4.55% | +0.29% |
IBDR vs. OVT - Expense Ratio Comparison
IBDR has a 0.10% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
IBDR vs. OVT - Dividend Comparison
IBDR's dividend yield for the trailing twelve months is around 4.11%, less than OVT's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.11% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% |
OVT Overlay Shares Short Term Bond ETF | 7.09% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBDR and OVT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (1.32%) compared to IBDR (0.21%). In terms of maximum drawdown, IBDR dropped -16.06% vs OVT's -13.59%.
On 5-year performance, OVT leads with 2.84% vs 1.53% for IBDR. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBDR has been the lower-risk option at 0.21%. 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 2.84% return vs 1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDR is cheaper with a 0.10% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 7.09%, compared with 4.11% for IBDR.
They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.10% for IBDR and 0.80% for OVT.
IBDR currently has the higher Sharpe Ratio (6.78 vs 1.95), 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.
Find the right allocation for IBDR and OVT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer