ITM vs. OVM
Compare and contrast key facts about VanEck Intermediate Muni ETF (ITM) and Overlay Shares Municipal Bond ETF (OVM).
ITM and OVM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITM is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Intermediate Continuous. It was launched on Dec 4, 2007. OVM is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019.
Performance
ITM vs. OVM - Performance Comparison
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ITM vs. OVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | -1.09% | 5.34% | 0.73% | 5.69% | -9.33% | 0.21% | 5.87% | 0.71% |
OVM Overlay Shares Municipal Bond ETF | 1.20% | 4.14% | 3.42% | 7.35% | -11.26% | 4.22% | 6.17% | 1.72% |
Returns By Period
In the year-to-date period, ITM achieves a -1.09% return, which is significantly lower than OVM's 1.20% return.
ITM
- 1D
- 0.28%
- 1M
- -2.99%
- YTD
- -1.09%
- 6M
- 1.07%
- 1Y
- 5.07%
- 3Y*
- 2.74%
- 5Y*
- 0.39%
- 10Y*
- 1.92%
OVM
- 1D
- 0.57%
- 1M
- -1.86%
- YTD
- 1.20%
- 6M
- 3.29%
- 1Y
- 7.50%
- 3Y*
- 4.29%
- 5Y*
- 1.47%
- 10Y*
- —
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ITM vs. OVM - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is lower than OVM's 0.82% expense ratio.
Return for Risk
ITM vs. OVM — Risk / Return Rank
ITM
OVM
ITM vs. OVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) and Overlay Shares Municipal Bond ETF (OVM). 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.
| ITM | OVM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 1.33 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.51 | 1.86 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.05 | -0.49 |
Martin ratioReturn relative to average drawdown | 5.33 | 8.19 | -2.86 |
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
| ITM | OVM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.33 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.27 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.37 | +0.06 |
Correlation
The correlation between ITM and OVM is 0.62, 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
ITM vs. OVM - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 2.93%, less than OVM's 6.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 2.93% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
OVM Overlay Shares Municipal Bond ETF | 6.76% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ITM vs. OVM - Drawdown Comparison
The maximum ITM drawdown since its inception was -24.75%, which is greater than OVM's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for ITM and OVM.
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Drawdown Indicators
| ITM | OVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -15.58% | -9.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -3.89% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -15.11% | -15.58% | +0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | — | — |
Current DrawdownCurrent decline from peak | -2.99% | -1.86% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -4.11% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.97% | +0.03% |
Volatility
ITM vs. OVM - Volatility Comparison
The current volatility for VanEck Intermediate Muni ETF (ITM) is 1.35%, while Overlay Shares Municipal Bond ETF (OVM) has a volatility of 1.98%. This indicates that ITM experiences smaller price fluctuations and is considered to be less risky than OVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITM | OVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.98% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 3.35% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 5.68% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.28% | 5.37% | -1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 6.60% | +0.50% |