OVT vs. SPHY
Compare and contrast key facts about Overlay Shares Short Term Bond ETF (OVT) and SPDR Portfolio High Yield Bond ETF (SPHY).
OVT and SPHY 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. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OVT or SPHY.
Performance
OVT vs. SPHY - Performance Comparison
Returns By Period
In the year-to-date period, OVT achieves a 7.17% return, which is significantly lower than SPHY's 8.31% return.
OVT
7.17%
-1.22%
4.37%
10.92%
N/A
N/A
SPHY
8.31%
0.02%
5.89%
13.56%
4.76%
4.53%
Key characteristics
| OVT | SPHY | |
|---|---|---|
| Sharpe Ratio | 2.66 | 3.09 |
| Sortino Ratio | 4.07 | 4.86 |
| Omega Ratio | 1.51 | 1.62 |
| Calmar Ratio | 1.67 | 3.43 |
| Martin Ratio | 16.44 | 24.42 |
| Ulcer Index | 0.69% | 0.56% |
| Daily Std Dev | 4.27% | 4.40% |
| Max Drawdown | -13.59% | -21.97% |
| Current Drawdown | -1.37% | -0.63% |
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OVT vs. SPHY - Expense Ratio Comparison
OVT has a 0.80% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Correlation
The correlation between OVT and SPHY is 0.62, 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.
Risk-Adjusted Performance
OVT vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Short Term Bond ETF (OVT) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
Dividends
OVT vs. SPHY - Dividend Comparison
OVT's dividend yield for the trailing twelve months is around 6.12%, less than SPHY's 7.79% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OVT Overlay Shares Short Term Bond ETF | 6.12% | 5.11% | 4.11% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.79% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
OVT vs. SPHY - Drawdown Comparison
The maximum OVT drawdown since its inception was -13.59%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for OVT and SPHY. For additional features, visit the drawdowns tool.
Volatility
OVT vs. SPHY - Volatility Comparison
Overlay Shares Short Term Bond ETF (OVT) and SPDR Portfolio High Yield Bond ETF (SPHY) have volatilities of 1.14% and 1.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.