IGHG vs. OVT
Compare and contrast key facts about ProShares Investment Grade-Interest Rate Hedged (IGHG) and Overlay Shares Short Term Bond ETF (OVT).
IGHG and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.
Performance
IGHG vs. OVT - Performance Comparison
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IGHG vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | -0.14% | 5.65% | 9.20% | 11.58% | -0.90% | 0.74% |
OVT Overlay Shares Short Term Bond ETF | 1.21% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Returns By Period
In the year-to-date period, IGHG achieves a -0.14% return, which is significantly lower than OVT's 1.21% return.
IGHG
- 1D
- 0.59%
- 1M
- 0.46%
- YTD
- -0.14%
- 6M
- 0.80%
- 1Y
- 6.35%
- 3Y*
- 8.08%
- 5Y*
- 4.75%
- 10Y*
- 4.67%
OVT
- 1D
- 0.59%
- 1M
- -0.82%
- YTD
- 1.21%
- 6M
- 3.29%
- 1Y
- 8.33%
- 3Y*
- 7.22%
- 5Y*
- 3.05%
- 10Y*
- —
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IGHG vs. OVT - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is lower than OVT's 0.80% expense ratio.
Return for Risk
IGHG vs. OVT — Risk / Return Rank
IGHG
OVT
IGHG vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) 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.
| IGHG | OVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.48 | 2.10 | -0.62 |
Sortino ratioReturn per unit of downside risk | 2.22 | 3.00 | -0.78 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.42 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.67 | 4.46 | -1.79 |
Martin ratioReturn relative to average drawdown | 10.52 | 16.27 | -5.75 |
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
| IGHG | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.10 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 0.66 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.64 | -0.13 |
Correlation
The correlation between IGHG and OVT is 0.27, 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
IGHG vs. OVT - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.18%, less than OVT's 8.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.18% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
OVT Overlay Shares Short Term Bond ETF | 8.80% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
IGHG vs. OVT - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for IGHG and OVT.
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Drawdown Indicators
| IGHG | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -13.59% | -11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -1.94% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | -13.59% | +4.84% |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -0.82% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -3.50% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.53% | +0.05% |
Volatility
IGHG vs. OVT - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 1.20%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.46%. This indicates that IGHG 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.
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Volatility by Period
| IGHG | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.46% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.83% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 3.99% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 4.63% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.48% | 4.59% | +2.89% |