IGIB vs. OVT
IGIB (iShares Intermediate-Term Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. IGIB is passively managed, while OVT is actively managed. Over the past 5 years, IGIB returned 1.37%/yr vs 3.01%/yr for OVT. A 0.66 correlation means they provide meaningful diversification when combined. IGIB charges 0.06%/yr vs 0.80%/yr for OVT.
Performance
IGIB vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, IGIB achieves a 0.21% return, which is significantly lower than OVT's 2.61% return.
IGIB
- 1D
- -0.19%
- 1M
- 0.31%
- YTD
- 0.21%
- 6M
- 0.14%
- 1Y
- 6.27%
- 3Y*
- 6.21%
- 5Y*
- 1.37%
- 10Y*
- 3.04%
OVT
- 1D
- -0.16%
- 1M
- 0.55%
- YTD
- 2.61%
- 6M
- 3.07%
- 1Y
- 8.92%
- 3Y*
- 7.44%
- 5Y*
- 3.01%
- 10Y*
- —
IGIB vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGIB iShares Intermediate-Term Corporate Bond ETF | 0.21% | 9.58% | 3.49% | 9.22% | -14.00% | -0.96% |
OVT Overlay Shares Short Term Bond ETF | 2.61% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Correlation
The correlation between IGIB and OVT is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.66 |
The correlation between IGIB and OVT has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
IGIB vs. OVT — Risk / Return Rank
IGIB
OVT
IGIB vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Intermediate-Term Corporate Bond ETF (IGIB) 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.
| IGIB | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.51 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 5.78 | -3.69 |
| Martin ratioReturn relative to average drawdown | 7.08 | 20.00 | -12.92 |
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
| IGIB | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 2.60 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.65 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.69 | +0.01 |
Drawdowns
IGIB vs. OVT - Drawdown Comparison
The maximum IGIB drawdown since its inception was -20.62%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for IGIB and OVT.
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Drawdown Indicators
| IGIB | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.62% | -13.59% | -7.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -1.55% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -3.55% | -2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | -13.59% | -7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -20.62% | — | — |
Current DrawdownCurrent decline from peak | -1.33% | -0.41% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -3.39% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.45% | +0.44% |
Volatility
IGIB vs. OVT - Volatility Comparison
iShares Intermediate-Term Corporate Bond ETF (IGIB) has a higher volatility of 1.33% compared to Overlay Shares Short Term Bond ETF (OVT) at 0.83%. This indicates that IGIB'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
| IGIB | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 0.83% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 2.52% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 3.44% | +0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.56% | 4.63% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 4.54% | +1.52% |
IGIB vs. OVT - Expense Ratio Comparison
IGIB has a 0.06% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
IGIB vs. OVT - Dividend Comparison
IGIB's dividend yield for the trailing twelve months is around 4.82%, less than OVT's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGIB iShares Intermediate-Term Corporate Bond ETF | 4.82% | 4.59% | 4.41% | 3.78% | 3.04% | 2.52% | 2.74% | 3.44% | 3.41% | 2.51% | 2.45% | 2.51% |
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
IGIB and OVT have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGIB has higher volatility (1.33%) compared to OVT (0.83%). In terms of maximum drawdown, IGIB dropped -20.62% vs OVT's -13.59%.
On 5-year performance, OVT leads with 3.01% vs 1.37% for IGIB. On fees, IGIB is cheaper at 0.06% per year. On volatility, OVT has been the lower-risk option at 0.83%. 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 3.01% return vs 1.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGIB is cheaper with a 0.06% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.17%, compared with 4.82% for IGIB.
They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.06% for IGIB and 0.80% for OVT.
OVT currently has the higher Sharpe Ratio (2.60 vs 1.52), 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.
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