IGBH vs. OVT
IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. IGBH is passively managed, while OVT is actively managed. Over the past 5 years, IGBH returned 5.15%/yr vs 2.74%/yr for OVT. Their 0.35 correlation means their historical movements had little consistent relationship. IGBH charges 0.16%/yr vs 0.80%/yr for OVT.
Performance
IGBH vs. OVT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGBH achieves a 1.53% return, which is significantly lower than OVT's 2.18% return.
IGBH
- 1D
- 0.20%
- 1M
- -0.78%
- 6M
- 0.55%
- YTD
- 1.53%
- 1Y
- 6.18%
- 3Y*
- 7.36%
- 5Y*
- 5.15%
- 10Y*
- 4.73%
- ALL TIME*
- 4.59%
OVT
- 1D
- 0.14%
- 1M
- -0.29%
- 6M
- 1.49%
- YTD
- 2.18%
- 1Y
- 5.78%
- 3Y*
- 7.01%
- 5Y*
- 2.74%
- 10Y*
- —
- ALL TIME*
- 2.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.00M | $3.48M | $2.46M | |
| $448.53K | $331.00K | $285.10K |
IGBH vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 1.53% | 7.90% | 7.80% | 12.12% | -2.82% | 1.57% |
OVT Overlay Shares Short Term Bond ETF | 2.18% | 7.61% | 7.44% | 7.73% | -9.68% | 1.73% |
Correlation
The correlation between IGBH and OVT is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | 0.35 |
The correlation between IGBH and OVT shifts across timeframes, from 0.35 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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
IGBH vs. OVT — Risk / Return Rank
IGBH
OVT
IGBH vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) 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.
| IGBH | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 4.01 | -2.59 |
| Martin ratioReturn relative to average drawdown | 5.00 | 11.03 | -6.03 |
Loading charts...
Drawdowns
IGBH vs. OVT - Drawdown Comparison
The maximum IGBH drawdown since its inception was -33.67%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for IGBH and OVT.
Loading charts...
Drawdown Indicators
| IGBH | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -13.59% | -20.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.24% | -1.55% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -3.55% | -3.38% |
Max Drawdown (5Y)Largest decline over 5 years | -10.48% | -13.59% | +3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.67% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -0.83% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -3.32% | +0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 0.56% | +0.63% |
Volatility
IGBH vs. OVT - Volatility Comparison
The current volatility for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) is 0.81%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.18%. This indicates that IGBH 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
| IGBH | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 1.18% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.76% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 3.72% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 4.69% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 4.54% | +4.65% |
IGBH vs. OVT - Expense Ratio Comparison
IGBH has a 0.16% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
IGBH vs. OVT - Dividend Comparison
IGBH's dividend yield for the trailing twelve months is around 5.61%, less than OVT's 7.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.61% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
OVT Overlay Shares Short Term Bond ETF | 7.66% | 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
IGBH and OVT have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (1.18%) compared to IGBH (0.81%). In terms of maximum drawdown, IGBH dropped -33.67% vs OVT's -13.59%.
On 5-year performance, IGBH leads with 5.15% vs 2.74% for OVT. On fees, IGBH is cheaper at 0.16% per year. On volatility, IGBH has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGBH has performed better with a 5.15% return vs 2.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 7.66%, compared with 5.61% for IGBH.
They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.16% for IGBH and 0.80% for OVT.
OVT currently has the higher Sharpe Ratio (1.67 vs 1.51), 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 IGBH 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