OVL vs. RBIL
OVL (Overlay Shares Large Cap Equity ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - OVL is a Derivative Income fund actively managed by Liquid Strategies, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. OVL is actively managed, while RBIL is passively managed. Over the past year, OVL returned 27.20% vs 3.85% for RBIL. Their -0.19 correlation means they have often moved in opposite directions in the past. OVL charges 0.79%/yr vs 0.17%/yr for RBIL.
Performance
OVL vs. RBIL - Performance Comparison
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Returns By Period
In the year-to-date period, OVL achieves a 15.83% return, which is significantly higher than RBIL's 2.64% return.
OVL
- 1D
- 1.92%
- 1M
- 3.65%
- 6M
- 13.96%
- YTD
- 15.83%
- 1Y
- 27.20%
- 3Y*
- 23.21%
- 5Y*
- 13.56%
- 10Y*
- —
- ALL TIME*
- 17.47%
RBIL
- 1D
- -0.04%
- 1M
- 0.20%
- 6M
- 2.28%
- YTD
- 2.64%
- 1Y
- 3.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.49M | $8.05M | $6.55M | |
| $1.13M | $1.88M | $2.27M |
OVL vs. RBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | 15.83% | 15.78% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 2.64% | 2.85% |
Correlation
The correlation between OVL and RBIL is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025 | -0.19 |
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Return for Risk
OVL vs. RBIL — Risk / Return Rank
OVL
RBIL
OVL vs. RBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Large Cap Equity ETF (OVL) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OVL | RBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 2.02 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 6.87 | -3.74 |
| Martin ratioReturn relative to average drawdown | 12.17 | 27.96 | -15.79 |
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Drawdowns
OVL vs. RBIL - Drawdown Comparison
The maximum OVL drawdown since its inception was -35.49%, which is greater than RBIL's maximum drawdown of -0.56%. Use the drawdown chart below to compare losses from any high point for OVL and RBIL.
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Drawdown Indicators
| OVL | RBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -0.56% | -34.93% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -0.56% | -8.17% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.23% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.19% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -0.08% | -6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 0.14% | +2.10% |
Volatility
OVL vs. RBIL - Volatility Comparison
Overlay Shares Large Cap Equity ETF (OVL) has a higher volatility of 4.88% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.31%. This indicates that OVL's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVL | RBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 0.31% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 0.89% | +10.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 0.96% | +14.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.94% | 1.06% | +18.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.45% | 1.06% | +21.39% |
OVL vs. RBIL - Expense Ratio Comparison
OVL has a 0.79% expense ratio, which is higher than RBIL's 0.17% expense ratio.
Dividends
OVL vs. RBIL - Dividend Comparison
OVL's dividend yield for the trailing twelve months is around 7.15%, more than RBIL's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | 7.15% | 2.99% | 3.10% | 3.33% | 3.85% | 3.63% | 2.43% | 0.50% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 4.16% | 3.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OVL and RBIL have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVL has higher volatility (4.88%) compared to RBIL (0.31%). In terms of maximum drawdown, OVL dropped -35.49% vs RBIL's -0.56%.
On 1-year performance, OVL leads with 27.20% vs 3.85% for RBIL. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OVL has performed better with a 27.20% return vs 3.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RBIL is cheaper with a 0.17% expense ratio, compared with 0.79% for OVL.
OVL has the higher dividend yield at 7.15%, compared with 4.16% for RBIL.
OVL is categorized as Derivative Income, while RBIL is Inflation-Protected Bonds. They also come from different issuers: Liquid Strategies and F/m. Their fees differ too: 0.79% for OVL and 0.17% for RBIL.
RBIL currently has the higher Sharpe Ratio (4.02 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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