OVT vs. IBDP
OVT (Overlay Shares Short Term Bond ETF) and IBDP (iShares iBonds Dec 2024 Term Corporate ETF) are both Corporate Bonds funds. OVT is actively managed, while IBDP is passively managed. At a 0.33 correlation, their price movements are largely independent. OVT charges 0.80%/yr vs 0.10%/yr for IBDP.
Performance
OVT vs. IBDP - Performance Comparison
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Returns By Period
OVT
- 1D
- -0.16%
- 1M
- 0.55%
- YTD
- 2.61%
- 6M
- 3.07%
- 1Y
- 8.92%
- 3Y*
- 7.44%
- 5Y*
- 3.01%
- 10Y*
- —
IBDP
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVT vs. IBDP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OVT Overlay Shares Short Term Bond ETF | 2.61% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
IBDP iShares iBonds Dec 2024 Term Corporate ETF | 0.00% | 0.00% | 5.02% | 5.16% | -3.89% | -0.60% |
Correlation
The correlation between OVT and IBDP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.33 |
The correlation between OVT and IBDP shifts across timeframes, from 0.14 (3 years) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OVT vs. IBDP — Risk / Return Rank
OVT
IBDP
OVT vs. IBDP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Short Term Bond ETF (OVT) and iShares iBonds Dec 2024 Term Corporate ETF (IBDP). 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.
| OVT | IBDP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.51 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.78 | — | — |
| Martin ratioReturn relative to average drawdown | 20.00 | — | — |
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
| OVT | IBDP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | — | — |
Drawdowns
OVT vs. IBDP - Drawdown Comparison
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Drawdown Indicators
| OVT | IBDP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.59% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | — | — |
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 | -0.41% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.39% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | — | — |
Volatility
OVT vs. IBDP - Volatility Comparison
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Volatility by Period
| OVT | IBDP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | — | — |
OVT vs. IBDP - Expense Ratio Comparison
OVT has a 0.80% expense ratio, which is higher than IBDP's 0.10% expense ratio.
Dividends
OVT vs. IBDP - Dividend Comparison
OVT's dividend yield for the trailing twelve months is around 8.17%, while IBDP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBDP iShares iBonds Dec 2024 Term Corporate ETF | 0.00% | 0.00% | 3.93% | 3.01% | 2.06% | 1.86% | 2.51% | 3.15% | 3.35% | 3.15% | 3.23% | 3.74% |
OVT Overlay Shares Short Term Bond ETF | 8.17% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OVT and IBDP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBDP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBDP is cheaper with a 0.10% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.17%, compared with 0.00% for IBDP.
They also come from different issuers: Liquid Strategies and iShares. Their fees differ too: 0.80% for OVT and 0.10% for IBDP.
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