OVB vs. BINC

Last updated Apr 1, 2026

Compare and contrast key facts about Overlay Shares Core Bond ETF (OVB) and iShares Flexible Income Active ETF (BINC).

OVB and BINC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OVB is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019. BINC is an actively managed fund by iShares. It was launched on May 19, 2023.

Performance

OVB vs. BINC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Overlay Shares Core Bond ETF (OVB) and iShares Flexible Income Active ETF (BINC). The values are adjusted to include any dividend payments, if applicable.

OVB vs. BINC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OVB Overlay Shares Core Bond ETF	1.53%	7.72%	4.03%	3.70%
BINC iShares Flexible Income Active ETF	-0.78%	7.57%	5.76%	7.08%

Returns By Period

In the year-to-date period, OVB achieves a 1.53% return, which is significantly higher than BINC's -0.78% return.

OVB

• 1D: 0.72%
• 1M: -1.39%
• YTD: 1.53%
• 6M: 3.08%
• 1Y: 7.93%
• 3Y*: 5.42%
• 5Y*: 0.90%
• 10Y*: —

BINC

• 1D: 0.33%
• 1M: -2.11%
• YTD: -0.78%
• 6M: 0.65%
• 1Y: 5.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

OVB vs. BINC - Expense Ratio Comparison

OVB has a 0.79% expense ratio, which is higher than BINC's 0.40% expense ratio.

OVB

Overlay Shares Core Bond ETF

BINC

iShares Flexible Income Active ETF

Return for Risk

OVB vs. BINC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OVB

OVB Risk / Return Rank: 76
OVB Sharpe Ratio Rank: 71
OVB Sortino Ratio Rank: 72
OVB Omega Ratio Rank: 66
OVB Calmar Ratio Rank: 90
OVB Martin Ratio Rank: 80

BINC

BINC Risk / Return Rank: 84
BINC Sharpe Ratio Rank: 87
BINC Sortino Ratio Rank: 87
BINC Omega Ratio Rank: 91
BINC Calmar Ratio Rank: 76
BINC Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OVB vs. BINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Core Bond ETF (OVB) and iShares Flexible Income Active ETF (BINC). 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.

	OVB	BINC	Difference
Sharpe ratio Return per unit of total volatility	1.26	1.74	-0.48
Sortino ratio Return per unit of downside risk	1.81	2.29	-0.48
Omega ratio Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio Return relative to maximum drawdown	3.01	1.91	+1.10
Martin ratio Return relative to average drawdown	8.76	7.93	+0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OVB vs. BINC - Sharpe Ratio Comparison

The current OVB Sharpe Ratio is 1.26, which is comparable to the BINC Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of OVB and BINC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OVB	BINC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.74	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	2.28	-2.04

Correlation

The correlation between OVB and BINC is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

OVB vs. BINC - Dividend Comparison

OVB's dividend yield for the trailing twelve months is around 7.37%, more than BINC's 5.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
OVB Overlay Shares Core Bond ETF	7.37%	6.00%	5.81%	5.20%	4.67%	4.59%	3.88%	0.58%
BINC iShares Flexible Income Active ETF	5.91%	5.86%	6.14%	3.13%	0.00%	0.00%	0.00%	0.00%

Drawdowns

OVB vs. BINC - Drawdown Comparison

The maximum OVB drawdown since its inception was -21.69%, which is greater than BINC's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for OVB and BINC.

Drawdown Indicators

	OVB	BINC	Difference
Max Drawdown Largest peak-to-trough decline	-21.69%	-2.69%	-19.00%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	-2.69%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-21.69%	—	—
Current Drawdown Current decline from peak	-1.39%	-2.14%	+0.75%
Average Drawdown Average peak-to-trough decline	-7.21%	-0.33%	-6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.65%	+0.27%

Volatility

OVB vs. BINC - Volatility Comparison

Overlay Shares Core Bond ETF (OVB) has a higher volatility of 2.44% compared to iShares Flexible Income Active ETF (BINC) at 1.25%. This indicates that OVB's price experiences larger fluctuations and is considered to be riskier than BINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OVB	BINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	1.25%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	4.67%	1.69%	+2.98%
Volatility (1Y) Calculated over the trailing 1-year period	6.34%	2.94%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.30%	3.03%	+4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	3.03%	+4.62%