IGBH vs. OVT
Compare and contrast key facts about iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) and Overlay Shares Short Term Bond ETF (OVT).
IGBH and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGBH is a passively managed fund by iShares that tracks the performance of the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. It was launched on Jul 22, 2015. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.
Performance
IGBH vs. OVT - Performance Comparison
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IGBH vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | -0.74% | 7.90% | 7.80% | 12.12% | -2.82% | 2.22% |
OVT Overlay Shares Short Term Bond ETF | 1.31% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Returns By Period
In the year-to-date period, IGBH achieves a -0.74% return, which is significantly lower than OVT's 1.31% return.
IGBH
- 1D
- 0.25%
- 1M
- 0.19%
- YTD
- -0.74%
- 6M
- 1.21%
- 1Y
- 7.11%
- 3Y*
- 8.32%
- 5Y*
- 4.46%
- 10Y*
- 4.98%
OVT
- 1D
- 0.10%
- 1M
- -0.38%
- YTD
- 1.31%
- 6M
- 3.12%
- 1Y
- 8.35%
- 3Y*
- 7.26%
- 5Y*
- 3.07%
- 10Y*
- —
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IGBH vs. OVT - Expense Ratio Comparison
IGBH has a 0.16% expense ratio, which is lower than OVT's 0.80% expense ratio.
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.
| IGBH | OVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.13 | 2.10 | -0.98 |
Sortino ratioReturn per unit of downside risk | 1.69 | 3.01 | -1.31 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.42 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 4.35 | -2.96 |
Martin ratioReturn relative to average drawdown | 5.45 | 15.81 | -10.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGBH | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.10 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.67 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.65 | -0.16 |
Correlation
The correlation between IGBH and OVT is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IGBH vs. OVT - Dividend Comparison
IGBH's dividend yield for the trailing twelve months is around 6.04%, less than OVT's 8.79% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 6.04% | 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 | 8.79% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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.
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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 | -5.22% | -1.94% | -3.28% |
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 | -2.27% | -0.72% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -3.49% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.53% | +0.80% |
Volatility
IGBH vs. OVT - Volatility Comparison
iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) has a higher volatility of 2.33% compared to Overlay Shares Short Term Bond ETF (OVT) at 1.46%. This indicates that IGBH's price experiences larger fluctuations and is considered to be riskier 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
| IGBH | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | 1.46% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 2.83% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.33% | 3.99% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.22% | 4.63% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 4.59% | +4.66% |