IIGD vs. OVT
Compare and contrast key facts about Invesco Investment Grade Defensive ETF (IIGD) and Overlay Shares Short Term Bond ETF (OVT).
IIGD and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IIGD is a passively managed fund by Invesco that tracks the performance of the Invesco Investment Grade Defensive Index. It was launched on Jul 25, 2018. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.
Performance
IIGD vs. OVT - Performance Comparison
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IIGD vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 0.04% | 7.11% | 3.90% | 5.71% | -7.27% | -1.16% |
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, IIGD achieves a 0.04% return, which is significantly lower than OVT's 1.21% return.
IIGD
- 1D
- 0.37%
- 1M
- -1.00%
- YTD
- 0.04%
- 6M
- 1.20%
- 1Y
- 4.78%
- 3Y*
- 4.88%
- 5Y*
- 1.75%
- 10Y*
- —
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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IIGD vs. OVT - Expense Ratio Comparison
IIGD has a 0.13% expense ratio, which is lower than OVT's 0.80% expense ratio.
Return for Risk
IIGD vs. OVT — Risk / Return Rank
IIGD
OVT
IIGD vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) 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.
| IIGD | OVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 2.10 | -0.35 |
Sortino ratioReturn per unit of downside risk | 2.59 | 3.00 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.42 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.86 | 4.46 | -1.60 |
Martin ratioReturn relative to average drawdown | 11.28 | 16.27 | -5.00 |
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
| IIGD | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 2.10 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.66 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.64 | +0.13 |
Correlation
The correlation between IIGD and OVT is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IIGD vs. OVT - Dividend Comparison
IIGD's dividend yield for the trailing twelve months is around 4.28%, less than OVT's 8.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 4.28% | 4.25% | 4.13% | 3.74% | 1.73% | 1.77% | 3.21% | 2.44% | 1.23% |
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% |
Drawdowns
IIGD vs. OVT - Drawdown Comparison
The maximum IIGD drawdown since its inception was -11.43%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for IIGD and OVT.
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Drawdown Indicators
| IIGD | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.43% | -13.59% | +2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -1.94% | +0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -11.43% | -13.59% | +2.16% |
Current DrawdownCurrent decline from peak | -1.00% | -0.82% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -3.50% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.53% | -0.11% |
Volatility
IIGD vs. OVT - Volatility Comparison
The current volatility for Invesco Investment Grade Defensive ETF (IIGD) is 1.10%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.46%. This indicates that IIGD 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
| IIGD | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.46% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 2.83% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 3.99% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.65% | 4.63% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.72% | 4.59% | -0.87% |