OVT vs. BSCZ
OVT (Overlay Shares Short Term Bond ETF) and BSCZ (Invesco BulletShares 2035 Corporate Bond ETF) are both Corporate Bonds funds. OVT is actively managed, while BSCZ is passively managed. Over the past year, OVT returned 7.33% vs 5.27% for BSCZ. A 0.67 correlation means they provide meaningful diversification when combined. OVT charges 0.80%/yr vs 0.10%/yr for BSCZ.
Performance
OVT vs. BSCZ - Performance Comparison
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Returns By Period
In the year-to-date period, OVT achieves a 1.98% return, which is significantly higher than BSCZ's 0.26% return.
OVT
- 1D
- -0.14%
- 1M
- -0.17%
- YTD
- 1.98%
- 6M
- 1.98%
- 1Y
- 7.33%
- 3Y*
- 7.26%
- 5Y*
- 2.84%
- 10Y*
- —
BSCZ
- 1D
- 0.10%
- 1M
- 0.62%
- YTD
- 0.26%
- 6M
- 0.46%
- 1Y
- 5.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVT vs. BSCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OVT Overlay Shares Short Term Bond ETF | 1.98% | 6.08% |
BSCZ Invesco BulletShares 2035 Corporate Bond ETF | 0.26% | 5.67% |
Correlation
The correlation between OVT and BSCZ is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.67 |
The correlation between OVT and BSCZ has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.
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Return for Risk
OVT vs. BSCZ — Risk / Return Rank
OVT
BSCZ
OVT vs. BSCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Short Term Bond ETF (OVT) and Invesco BulletShares 2035 Corporate Bond ETF (BSCZ). 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.
| OVT | BSCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.19 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | 1.62 | +3.13 |
| Martin ratioReturn relative to average drawdown | 14.89 | 4.90 | +9.99 |
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Drawdowns
OVT vs. BSCZ - Drawdown Comparison
The maximum OVT drawdown since its inception was -13.59%, which is greater than BSCZ's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for OVT and BSCZ.
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Drawdown Indicators
| OVT | BSCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.59% | -3.28% | -10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -3.28% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.59% | — | — |
Current DrawdownCurrent decline from peak | -1.02% | -1.38% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -0.78% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 1.08% | -0.59% |
Volatility
OVT vs. BSCZ - Volatility Comparison
Overlay Shares Short Term Bond ETF (OVT) has a higher volatility of 1.54% compared to Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) at 1.41%. This indicates that OVT's price experiences larger fluctuations and is considered to be riskier than BSCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVT | BSCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.41% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 3.82% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 5.02% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 5.00% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 5.00% | -0.44% |
OVT vs. BSCZ - Expense Ratio Comparison
OVT has a 0.80% expense ratio, which is higher than BSCZ's 0.10% expense ratio.
Dividends
OVT vs. BSCZ - Dividend Comparison
OVT's dividend yield for the trailing twelve months is around 8.22%, more than BSCZ's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BSCZ Invesco BulletShares 2035 Corporate Bond ETF | 4.52% | 2.18% | 0.00% | 0.00% | 0.00% | 0.00% |
OVT Overlay Shares Short Term Bond ETF | 8.22% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% |
Frequently Asked Questions
OVT and BSCZ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (1.54%) compared to BSCZ (1.41%). In terms of maximum drawdown, OVT dropped -13.59% vs BSCZ's -3.28%.
On 1-year performance, OVT leads with 7.33% vs 5.27% for BSCZ. On fees, BSCZ is cheaper at 0.10% per year. On volatility, BSCZ has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OVT has performed better with a 7.33% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCZ is cheaper with a 0.10% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.22%, compared with 4.52% for BSCZ.
They also come from different issuers: Liquid Strategies and Invesco. Their fees differ too: 0.80% for OVT and 0.10% for BSCZ.
OVT currently has the higher Sharpe Ratio (2.01 vs 1.06), 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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