OVM vs. BSMP

Last updated Jun 4, 2026

OVM (Overlay Shares Municipal Bond ETF) and BSMP (Invesco BulletShares 2025 Municipal Bond ETF) are both Municipal Bonds funds. OVM is actively managed, while BSMP is passively managed. At a 0.36 correlation, their price movements are largely independent. OVM charges 0.82%/yr vs 0.18%/yr for BSMP.

Performance

OVM vs. BSMP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Overlay Shares Municipal Bond ETF (OVM) and Invesco BulletShares 2025 Municipal Bond ETF (BSMP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OVM

• 1D: -0.17%
• 1M: 1.10%
• YTD: 3.96%
• 6M: 4.16%
• 1Y: 11.81%
• 3Y*: 5.37%
• 5Y*: 1.59%
• 10Y*: —

BSMP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OVM vs. BSMP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
OVM Overlay Shares Municipal Bond ETF	3.96%	4.14%	3.42%	7.35%	-11.26%	4.22%	6.17%	1.72%
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	2.27%	2.46%	3.14%	-5.09%	0.60%	4.91%	0.66%

Correlation

The correlation between OVM and BSMP is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.36

Over the past year, the correlation between OVM and BSMP has dropped to 0.11 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

OVM vs. BSMP - Sectors Allocation Comparison

Sectors	OVM	BSMP
Technology	35.6%	-
Financial Services	11.8%	50.3%
Communication Services	11.2%	0.0%
Consumer Cyclical	10.1%	0.0%
Healthcare	8.5%	-
Industrials	8.3%	0.4%
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	2.7%
Basic Materials	1.8%	-

Return for Risk

OVM vs. BSMP — Risk / Return Rank

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

OVM

OVM Risk / Return Rank: 88
OVM Sharpe Ratio Rank: 86
OVM Sortino Ratio Rank: 90
OVM Omega Ratio Rank: 90
OVM Calmar Ratio Rank: 86
OVM Martin Ratio Rank: 87

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.

OVM vs. BSMP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Municipal Bond ETF (OVM) and Invesco BulletShares 2025 Municipal Bond ETF (BSMP). 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.

	OVM	BSMP	Difference
Sharpe ratio: Return per unit of total volatility	2.85	—	—
Sortino ratio: Return per unit of downside risk	4.24	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	4.86	—	—
Martin ratio: Return relative to average drawdown	18.92	—	—
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

	OVM	BSMP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	—	—

Drawdowns

Drawdown Indicators

	OVM	BSMP	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.58%	—	—
Current Drawdown Current decline from peak	-0.17%	—	—
Average Drawdown Average peak-to-trough decline	-4.01%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	—	—

Volatility

Volatility by Period

	OVM	BSMP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.55%	—	—

OVM vs. BSMP - Expense Ratio Comparison

OVM has a 0.82% expense ratio, which is higher than BSMP's 0.18% expense ratio.

Dividends

OVM vs. BSMP - Dividend Comparison

OVM's dividend yield for the trailing twelve months is around 6.11%, more than BSMP's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	1.27%	2.35%	2.53%	2.20%	1.23%	0.72%	1.32%	0.35%
OVM Overlay Shares Municipal Bond ETF	6.11%	5.45%	4.91%	4.66%	4.21%	6.10%	3.97%	0.58%

Frequently Asked Questions

Can I hold both OVM and BSMP in my portfolio?

OVM and BSMP have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OVM or BSMP?

On fees, BSMP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OVM or BSMP?

BSMP is cheaper with a 0.18% expense ratio, compared with 0.82% for OVM.

Which ETF pays a higher dividend yield, OVM or BSMP?

OVM has the higher dividend yield at 6.11%, compared with 1.27% for BSMP.

What is the main difference between OVM and BSMP?

They also come from different issuers: Liquid Strategies and Invesco. Their fees differ too: 0.82% for OVM and 0.18% for BSMP.