OVM vs. IBMN
Compare and contrast key facts about Overlay Shares Municipal Bond ETF (OVM) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN).
OVM and IBMN 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. IBMN is a passively managed fund by iShares that tracks the performance of the S&P AMT-Free Municipal Series Dec 2025 Index. It was launched on Nov 13, 2018.
Performance
OVM vs. IBMN - Performance Comparison
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OVM vs. IBMN - 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% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 0.00% | 2.49% | 2.33% | 2.42% | -4.43% | -0.41% | 4.83% | 0.86% |
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*
- —
IBMN
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.38%
- 1Y
- 1.62%
- 3Y*
- 2.01%
- 5Y*
- 0.57%
- 10Y*
- —
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OVM vs. IBMN - Expense Ratio Comparison
OVM has a 0.82% expense ratio, which is higher than IBMN's 0.18% expense ratio.
Return for Risk
OVM vs. IBMN — Risk / Return Rank
OVM
IBMN
OVM vs. IBMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Municipal Bond ETF (OVM) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). 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 | IBMN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 1.06 | +0.27 |
Sortino ratioReturn per unit of downside risk | 1.86 | 1.59 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.14 | -0.10 |
Martin ratioReturn relative to average drawdown | 8.19 | 22.84 | -14.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OVM | IBMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.06 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.32 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.59 | -0.22 |
Correlation
The correlation between OVM and IBMN 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. IBMN - Dividend Comparison
OVM's dividend yield for the trailing twelve months is around 6.76%, more than IBMN's 1.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OVM Overlay Shares Municipal Bond ETF | 6.76% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% | 0.00% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 1.68% | 2.03% | 2.03% | 1.72% | 0.97% | 0.70% | 1.11% | 1.65% | 0.23% |
Drawdowns
OVM vs. IBMN - Drawdown Comparison
The maximum OVM drawdown since its inception was -15.58%, which is greater than IBMN's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for OVM and IBMN.
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Drawdown Indicators
| OVM | IBMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -12.40% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -1.09% | -2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -15.58% | -7.36% | -8.22% |
Current DrawdownCurrent decline from peak | -1.86% | -0.05% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -1.85% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.10% | +0.87% |
Volatility
OVM vs. IBMN - Volatility Comparison
Overlay Shares Municipal Bond ETF (OVM) has a higher volatility of 1.98% compared to iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN) at 0.00%. This indicates that OVM's price experiences larger fluctuations and is considered to be riskier than IBMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVM | IBMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 0.00% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 0.59% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.68% | 1.91% | +3.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 1.82% | +3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.60% | 3.94% | +2.66% |