OVM vs. BSMP
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
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Returns By Period
OVM
- 1D
- 0.16%
- 1M
- 1.08%
- YTD
- 3.68%
- 6M
- 3.13%
- 1Y
- 10.41%
- 3Y*
- 4.94%
- 5Y*
- 1.49%
- 10Y*
- —
BSMP
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVM vs. BSMP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OVM Overlay Shares Municipal Bond ETF | 3.68% | 4.14% | 3.42% | 7.35% | -11.26% | 4.22% | 6.17% | 1.61% |
BSMP Invesco BulletShares 2025 Municipal Bond ETF | 0.00% | 2.27% | 2.46% | 3.14% | -5.09% | 0.60% | 4.91% | 0.70% |
Correlation
The correlation between OVM and BSMP is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
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 1, 2019 | 0.36 |
Over the past year, the correlation between OVM and BSMP has dropped to 0.08 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
OVM vs. BSMP — Risk / Return Rank
OVM
BSMP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| OVM | BSMP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.49 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | — | — |
| Martin ratioReturn relative to average drawdown | 16.16 | — | — |
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Drawdowns
OVM vs. BSMP - Drawdown Comparison
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Drawdown Indicators
| OVM | BSMP | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.50% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.98% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | — | — |
Volatility
OVM vs. BSMP - Volatility Comparison
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Volatility by Period
| OVM | BSMP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.42% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.53% | — | — |
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 6.13%, more than BSMP's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMP Invesco BulletShares 2025 Municipal Bond ETF | 1.05% | 2.35% | 2.53% | 2.20% | 1.23% | 0.72% | 1.32% | 0.35% |
OVM Overlay Shares Municipal Bond ETF | 6.13% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% |
Frequently Asked Questions
OVM and BSMP have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BSMP is cheaper with a 0.18% expense ratio, compared with 0.82% for OVM.
OVM has the higher dividend yield at 6.13%, compared with 1.05% for BSMP.
They also come from different issuers: Liquid Strategies and Invesco. Their fees differ too: 0.82% for OVM and 0.18% for BSMP.
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