OVB vs. VGVT

Last updated Apr 2, 2026

Compare and contrast key facts about Overlay Shares Core Bond ETF (OVB) and Vanguard Government Securities Active ETF (VGVT).

OVB and VGVT 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. VGVT is an actively managed fund by Vanguard. It was launched on Jul 7, 2025.

Performance

OVB vs. VGVT - Performance Comparison

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

OVB vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
OVB Overlay Shares Core Bond ETF	1.52%	4.62%
VGVT Vanguard Government Securities Active ETF	0.03%	3.28%

Returns By Period

In the year-to-date period, OVB achieves a 1.52% return, which is significantly higher than VGVT's 0.03% return.

OVB

• 1D: -0.01%
• 1M: -1.12%
• YTD: 1.52%
• 6M: 2.75%
• 1Y: 7.56%
• 3Y*: 5.42%
• 5Y*: 0.90%
• 10Y*: —

VGVT

• 1D: -0.09%
• 1M: -1.61%
• YTD: 0.03%
• 6M: 1.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OVB vs. VGVT - Expense Ratio Comparison

OVB has a 0.79% expense ratio, which is higher than VGVT's 0.10% expense ratio.

OVB

Overlay Shares Core Bond ETF

VGVT

Vanguard Government Securities Active ETF

Return for Risk

OVB vs. VGVT — Risk / Return Rank

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

OVB

OVB Risk / Return Rank: 70
OVB Sharpe Ratio Rank: 65
OVB Sortino Ratio Rank: 65
OVB Omega Ratio Rank: 60
OVB Calmar Ratio Rank: 88
OVB Martin Ratio Rank: 75

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. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Core Bond ETF (OVB) and Vanguard Government Securities Active ETF (VGVT). 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	VGVT	Difference
Sharpe ratio Return per unit of total volatility	1.20	—	—
Sortino ratio Return per unit of downside risk	1.73	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	2.97	—	—
Martin ratio Return relative to average drawdown	8.60	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OVB	VGVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	—	—
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	1.40	-1.16

Correlation

The correlation between OVB and VGVT is 0.71, 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. VGVT - Dividend Comparison

OVB's dividend yield for the trailing twelve months is around 7.37%, more than VGVT's 3.29% 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%
VGVT Vanguard Government Securities Active ETF	3.29%	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

OVB vs. VGVT - Drawdown Comparison

The maximum OVB drawdown since its inception was -21.69%, which is greater than VGVT's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for OVB and VGVT.

Drawdown Indicators

	OVB	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-21.69%	-2.42%	-19.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.69%	—	—
Current Drawdown Current decline from peak	-1.40%	-1.83%	+0.43%
Average Drawdown Average peak-to-trough decline	-7.21%	-0.43%	-6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	—	—

Volatility

Volatility by Period

	OVB	VGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.34%	3.26%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.29%	3.26%	+4.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	3.26%	+4.39%