OVB vs. BNDW
Compare and contrast key facts about Overlay Shares Core Bond ETF (OVB) and Vanguard Total World Bond ETF (BNDW).
OVB and BNDW 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. BNDW is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index. It was launched on Sep 4, 2018.
Performance
OVB vs. BNDW - Performance Comparison
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OVB vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OVB Overlay Shares Core Bond ETF | 1.52% | 7.72% | 4.03% | 6.89% | -16.96% | 0.71% | 9.40% | 1.22% |
BNDW Vanguard Total World Bond ETF | 0.09% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | -0.59% |
Returns By Period
In the year-to-date period, OVB achieves a 1.52% return, which is significantly higher than BNDW's 0.09% return.
OVB
- 1D
- -0.01%
- 1M
- -1.12%
- YTD
- 1.52%
- 6M
- 2.75%
- 1Y
- 7.56%
- 3Y*
- 5.42%
- 5Y*
- 0.90%
- 10Y*
- —
BNDW
- 1D
- 0.13%
- 1M
- -1.46%
- YTD
- 0.09%
- 6M
- 0.53%
- 1Y
- 3.34%
- 3Y*
- 3.77%
- 5Y*
- 0.23%
- 10Y*
- —
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OVB vs. BNDW - Expense Ratio Comparison
OVB has a 0.79% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Return for Risk
OVB vs. BNDW — Risk / Return Rank
OVB
BNDW
OVB vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Core Bond ETF (OVB) and Vanguard Total World Bond ETF (BNDW). 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 | BNDW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 0.95 | +0.25 |
Sortino ratioReturn per unit of downside risk | 1.73 | 1.34 | +0.39 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.17 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.35 | +1.62 |
Martin ratioReturn relative to average drawdown | 8.60 | 4.95 | +3.65 |
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
| OVB | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.95 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.04 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.37 | -0.13 |
Correlation
The correlation between OVB and BNDW is 0.77, 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. BNDW - Dividend Comparison
OVB's dividend yield for the trailing twelve months is around 7.37%, more than BNDW's 4.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OVB Overlay Shares Core Bond ETF | 7.37% | 6.00% | 5.81% | 5.20% | 4.67% | 4.59% | 3.88% | 0.58% | 0.00% |
BNDW Vanguard Total World Bond ETF | 4.18% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
Drawdowns
OVB vs. BNDW - Drawdown Comparison
The maximum OVB drawdown since its inception was -21.69%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for OVB and BNDW.
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Drawdown Indicators
| OVB | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.69% | -17.22% | -4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.70% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -21.69% | -16.93% | -4.76% |
Current DrawdownCurrent decline from peak | -1.40% | -1.85% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -7.21% | -5.05% | -2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.73% | +0.19% |
Volatility
OVB vs. BNDW - Volatility Comparison
Overlay Shares Core Bond ETF (OVB) has a higher volatility of 2.44% compared to Vanguard Total World Bond ETF (BNDW) at 1.67%. This indicates that OVB's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVB | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 1.67% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 2.29% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.34% | 3.53% | +2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.29% | 5.17% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 4.92% | +2.73% |