OVM vs. BSMP

Last updated Apr 1, 2026

Compare and contrast key facts about Overlay Shares Municipal Bond ETF (OVM) and Invesco BulletShares 2025 Municipal Bond ETF (BSMP).

OVM and BSMP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OVM is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019. BSMP is a passively managed fund by Invesco that tracks the performance of the Invesco BulletShares Municipal Bond 2025 Index. It was launched on Sep 25, 2019.

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.

OVM vs. BSMP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
OVM Overlay Shares Municipal Bond ETF	1.20%	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%

Returns By Period

OVM

• 1D: 0.57%
• 1M: -1.86%
• YTD: 1.20%
• 6M: 3.29%
• 1Y: 7.50%
• 3Y*: 4.29%
• 5Y*: 1.47%
• 10Y*: —

BSMP

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

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

OVM vs. BSMP - Expense Ratio Comparison

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

OVM

Overlay Shares Municipal Bond ETF

BSMP

Invesco BulletShares 2025 Municipal Bond ETF

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: 75
OVM Sharpe Ratio Rank: 74
OVM Sortino Ratio Rank: 74
OVM Omega Ratio Rank: 75
OVM Calmar Ratio Rank: 77
OVM Martin Ratio Rank: 76

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	1.33	—	—
Sortino ratio Return per unit of downside risk	1.86	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	2.05	—	—
Martin ratio Return relative to average drawdown	8.19	—	—
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	1.33	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	—	—

Correlation

The correlation between OVM and BSMP is 0.37, 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.

Dividends

OVM vs. BSMP - Dividend Comparison

OVM's dividend yield for the trailing twelve months is around 6.76%, more than BSMP's 1.72% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
OVM Overlay Shares Municipal Bond ETF	6.76%	5.45%	4.91%	4.66%	4.21%	6.10%	3.97%	0.58%
BSMP Invesco BulletShares 2025 Municipal Bond ETF	1.72%	2.35%	2.53%	2.20%	1.23%	0.72%	1.32%	0.35%

Drawdowns

Drawdown Indicators

	OVM	BSMP	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.58%	—	—
Current Drawdown Current decline from peak	-1.86%	—	—
Average Drawdown Average peak-to-trough decline	-4.11%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	—	—

Volatility

Volatility by Period

	OVM	BSMP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.68%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.60%	—	—