OVB vs. SPY
Compare and contrast key facts about Overlay Shares Core Bond ETF (OVB) and SPDR S&P 500 ETF (SPY).
OVB and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OVB or SPY.
Key characteristics
| OVB | SPY | |
|---|---|---|
| YTD Return | 0.90% | 11.58% |
| 1Y Return | 3.98% | 29.17% |
| 3Y Return (Ann) | -2.79% | 9.98% |
| Sharpe Ratio | 0.48 | 2.67 |
| Daily Std Dev | 8.17% | 11.53% |
| Max Drawdown | -21.69% | -55.19% |
| Current Drawdown | -11.48% | -0.21% |
Correlation
The correlation between OVB and SPY is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
OVB vs. SPY - Performance Comparison
In the year-to-date period, OVB achieves a 0.90% return, which is significantly lower than SPY's 11.58% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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OVB vs. SPY - Expense Ratio Comparison
OVB has a 0.80% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
OVB vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Core Bond ETF (OVB) and SPDR S&P 500 ETF (SPY). 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.
Dividends
OVB vs. SPY - Dividend Comparison
OVB's dividend yield for the trailing twelve months is around 5.33%, more than SPY's 1.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OVB Overlay Shares Core Bond ETF | 5.33% | 5.20% | 4.67% | 4.59% | 3.87% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.27% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
OVB vs. SPY - Drawdown Comparison
The maximum OVB drawdown since its inception was -21.69%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for OVB and SPY. For additional features, visit the drawdowns tool.
Volatility
OVB vs. SPY - Volatility Comparison
The current volatility for Overlay Shares Core Bond ETF (OVB) is 2.08%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.40%. This indicates that OVB experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.