OVT vs. IBDU

Last updated Apr 1, 2026

Compare and contrast key facts about Overlay Shares Short Term Bond ETF (OVT) and iShares iBonds Dec 2029 Term Corporate ETF (IBDU).

OVT and IBDU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021. IBDU is a passively managed fund by iShares that tracks the performance of the Bloomberg December 2029 Maturity Corporate Index. It was launched on Sep 17, 2019.

Performance

OVT vs. IBDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Overlay Shares Short Term Bond ETF (OVT) and iShares iBonds Dec 2029 Term Corporate ETF (IBDU). The values are adjusted to include any dividend payments, if applicable.

OVT vs. IBDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OVT Overlay Shares Short Term Bond ETF	1.21%	7.61%	7.44%	7.73%	-9.68%	2.07%
IBDU iShares iBonds Dec 2029 Term Corporate ETF	0.13%	7.59%	3.62%	8.67%	-13.04%	-1.06%

Returns By Period

In the year-to-date period, OVT achieves a 1.21% return, which is significantly higher than IBDU's 0.13% return.

OVT

• 1D: 0.59%
• 1M: -0.82%
• YTD: 1.21%
• 6M: 3.29%
• 1Y: 8.33%
• 3Y*: 7.22%
• 5Y*: 3.05%
• 10Y*: —

IBDU

• 1D: 0.30%
• 1M: -0.95%
• YTD: 0.13%
• 6M: 1.41%
• 1Y: 5.36%
• 3Y*: 5.31%
• 5Y*: 1.51%
• 10Y*: —

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

OVT vs. IBDU - Expense Ratio Comparison

OVT has a 0.80% expense ratio, which is higher than IBDU's 0.10% expense ratio.

OVT

Overlay Shares Short Term Bond ETF

IBDU

iShares iBonds Dec 2029 Term Corporate ETF

Return for Risk

OVT vs. IBDU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OVT

OVT Risk / Return Rank: 94
OVT Sharpe Ratio Rank: 92
OVT Sortino Ratio Rank: 95
OVT Omega Ratio Rank: 93
OVT Calmar Ratio Rank: 96
OVT Martin Ratio Rank: 95

IBDU

IBDU Risk / Return Rank: 88
IBDU Sharpe Ratio Rank: 86
IBDU Sortino Ratio Rank: 89
IBDU Omega Ratio Rank: 89
IBDU Calmar Ratio Rank: 87
IBDU Martin Ratio Rank: 90

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.

OVT vs. IBDU - 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 2029 Term Corporate ETF (IBDU). 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	IBDU	Difference
Sharpe ratio Return per unit of total volatility	2.10	1.73	+0.37
Sortino ratio Return per unit of downside risk	3.00	2.46	+0.54
Omega ratio Gain probability vs. loss probability	1.42	1.37	+0.05
Calmar ratio Return relative to maximum drawdown	4.46	2.70	+1.77
Martin ratio Return relative to average drawdown	16.27	11.85	+4.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OVT vs. IBDU - Sharpe Ratio Comparison

The current OVT Sharpe Ratio is 2.10, which is comparable to the IBDU Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of OVT and IBDU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OVT	IBDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	1.73	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.26	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.32	+0.32

Correlation

The correlation between OVT and IBDU is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

OVT vs. IBDU - Dividend Comparison

OVT's dividend yield for the trailing twelve months is around 8.80%, more than IBDU's 4.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
OVT Overlay Shares Short Term Bond ETF	8.80%	7.21%	6.15%	5.11%	4.12%	4.41%	0.00%	0.00%
IBDU iShares iBonds Dec 2029 Term Corporate ETF	4.67%	4.67%	4.75%	4.21%	3.34%	2.29%	2.42%	0.74%

Drawdowns

OVT vs. IBDU - Drawdown Comparison

The maximum OVT drawdown since its inception was -13.59%, smaller than the maximum IBDU drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for OVT and IBDU.

Drawdown Indicators

	OVT	IBDU	Difference
Max Drawdown Largest peak-to-trough decline	-13.59%	-19.44%	+5.85%
Max Drawdown (1Y) Largest decline over 1 year	-1.94%	-1.99%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-13.59%	-19.44%	+5.85%
Current Drawdown Current decline from peak	-0.82%	-0.95%	+0.13%
Average Drawdown Average peak-to-trough decline	-3.50%	-5.54%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.45%	+0.08%

Volatility

OVT vs. IBDU - Volatility Comparison

Overlay Shares Short Term Bond ETF (OVT) has a higher volatility of 1.46% compared to iShares iBonds Dec 2029 Term Corporate ETF (IBDU) at 0.98%. This indicates that OVT's price experiences larger fluctuations and is considered to be riskier than IBDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OVT	IBDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	0.98%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	1.53%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	3.11%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.63%	5.77%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	7.41%	-2.82%