RJMI vs. OVM
RJMI (RJ Eagle Municipal Income ETF) and OVM (Overlay Shares Municipal Bond ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. RJMI charges 0.41%/yr vs 0.82%/yr for OVM.
Performance
RJMI vs. OVM - Performance Comparison
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Returns By Period
In the year-to-date period, RJMI achieves a -0.24% return, which is significantly lower than OVM's 2.26% return.
RJMI
- 1D
- -0.10%
- 1M
- -2.50%
- 6M
- -0.96%
- YTD
- -0.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
OVM
- 1D
- 0.80%
- 1M
- -1.88%
- 6M
- 1.00%
- YTD
- 2.26%
- 1Y
- 7.80%
- 3Y*
- 4.39%
- 5Y*
- 1.01%
- 10Y*
- —
- ALL TIME*
- 2.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $294.19K | $270.99K | $329.94K | |
| $339.50K | $231.90K | $200.64K |
RJMI vs. OVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RJMI RJ Eagle Municipal Income ETF | -0.24% | 2.68% |
OVM Overlay Shares Municipal Bond ETF | 2.26% | 1.98% |
Correlation
The correlation between RJMI and OVM is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.53 |
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Return for Risk
RJMI vs. OVM — Risk / Return Rank
RJMI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OVM
RJMI vs. OVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RJ Eagle Municipal Income ETF (RJMI) and Overlay Shares Municipal Bond ETF (OVM). 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.
| RJMI | OVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.32 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.72 | — |
| Martin ratioReturn relative to average drawdown | — | 10.05 | — |
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Drawdowns
RJMI vs. OVM - Drawdown Comparison
The maximum RJMI drawdown since its inception was -3.04%, smaller than the maximum OVM drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for RJMI and OVM.
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Drawdown Indicators
| RJMI | OVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.04% | -15.58% | +12.54% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.88% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.20% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.58% | — |
Current DrawdownCurrent decline from peak | -2.54% | -2.10% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -3.94% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.78% | — |
Volatility
RJMI vs. OVM - Volatility Comparison
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Volatility by Period
| RJMI | OVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.57% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 4.56% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.11% | 5.45% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.11% | 6.52% | -3.41% |
RJMI vs. OVM - Expense Ratio Comparison
RJMI has a 0.41% expense ratio, which is lower than OVM's 0.82% expense ratio.
Dividends
RJMI vs. OVM - Dividend Comparison
RJMI's dividend yield for the trailing twelve months is around 2.60%, less than OVM's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVM Overlay Shares Municipal Bond ETF | 5.82% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% |
RJMI RJ Eagle Municipal Income ETF | 2.60% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RJMI and OVM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RJMI is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RJMI is cheaper with a 0.41% expense ratio, compared with 0.82% for OVM.
OVM has the higher dividend yield at 5.82%, compared with 2.60% for RJMI.
They also come from different issuers: Carillon Tower Advisers and Liquid Strategies. Their fees differ too: 0.41% for RJMI and 0.82% for OVM.
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