SCHJ vs. OVT

Last updated Apr 2, 2026

Compare and contrast key facts about Schwab 1-5 Year Corporate Bond ETF (SCHJ) and Overlay Shares Short Term Bond ETF (OVT).

SCHJ and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCHJ is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Corporate (1-5 Y). It was launched on Oct 10, 2019. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.

Performance

SCHJ vs. OVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab 1-5 Year Corporate Bond ETF (SCHJ) and Overlay Shares Short Term Bond ETF (OVT). The values are adjusted to include any dividend payments, if applicable.

SCHJ vs. OVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SCHJ Schwab 1-5 Year Corporate Bond ETF	0.09%	6.80%	4.89%	6.36%	-5.73%	-0.58%
OVT Overlay Shares Short Term Bond ETF	1.31%	7.61%	7.44%	7.73%	-9.68%	2.07%

Returns By Period

In the year-to-date period, SCHJ achieves a 0.09% return, which is significantly lower than OVT's 1.31% return.

SCHJ

• 1D: 0.02%
• 1M: -0.64%
• YTD: 0.09%
• 6M: 1.15%
• 1Y: 4.85%
• 3Y*: 5.39%
• 5Y*: 2.36%
• 10Y*: —

OVT

• 1D: 0.10%
• 1M: -0.38%
• YTD: 1.31%
• 6M: 3.12%
• 1Y: 8.35%
• 3Y*: 7.26%
• 5Y*: 3.07%
• 10Y*: —

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

SCHJ vs. OVT - Expense Ratio Comparison

SCHJ has a 0.05% expense ratio, which is lower than OVT's 0.80% expense ratio.

OVT

Overlay Shares Short Term Bond ETF

SCHJ

Schwab 1-5 Year Corporate Bond ETF

Return for Risk

SCHJ vs. OVT — Risk / Return Rank

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

SCHJ

SCHJ Risk / Return Rank: 93
SCHJ Sharpe Ratio Rank: 91
SCHJ Sortino Ratio Rank: 94
SCHJ Omega Ratio Rank: 94
SCHJ Calmar Ratio Rank: 91
SCHJ Martin Ratio Rank: 92

OVT

OVT Risk / Return Rank: 93
OVT Sharpe Ratio Rank: 91
OVT Sortino Ratio Rank: 94
OVT Omega Ratio Rank: 92
OVT Calmar Ratio Rank: 95
OVT Martin Ratio Rank: 95

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.

SCHJ vs. OVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab 1-5 Year Corporate Bond ETF (SCHJ) and Overlay Shares Short Term Bond ETF (OVT). 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.

	SCHJ	OVT	Difference
Sharpe ratio Return per unit of total volatility	2.13	2.10	+0.03
Sortino ratio Return per unit of downside risk	3.01	3.01	+0.01
Omega ratio Gain probability vs. loss probability	1.45	1.42	+0.04
Calmar ratio Return relative to maximum drawdown	3.35	4.35	-1.00
Martin ratio Return relative to average drawdown	13.74	15.81	-2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHJ vs. OVT - Sharpe Ratio Comparison

The current SCHJ Sharpe Ratio is 2.13, which is comparable to the OVT Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of SCHJ and OVT, 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

	SCHJ	OVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.10	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.67	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.65	-0.01

Correlation

The correlation between SCHJ and OVT is 0.64, 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

SCHJ vs. OVT - Dividend Comparison

SCHJ's dividend yield for the trailing twelve months is around 4.50%, less than OVT's 8.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
SCHJ Schwab 1-5 Year Corporate Bond ETF	4.50%	4.42%	4.00%	2.98%	1.64%	0.94%	2.54%	0.42%
OVT Overlay Shares Short Term Bond ETF	8.79%	7.21%	6.15%	5.11%	4.12%	4.41%	0.00%	0.00%

Drawdowns

SCHJ vs. OVT - Drawdown Comparison

The maximum SCHJ drawdown since its inception was -13.62%, roughly equal to the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for SCHJ and OVT.

Drawdown Indicators

	SCHJ	OVT	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-13.59%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-1.47%	-1.94%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-9.43%	-13.59%	+4.16%
Current Drawdown Current decline from peak	-0.91%	-0.72%	-0.19%
Average Drawdown Average peak-to-trough decline	-1.92%	-3.49%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.53%	-0.17%

Volatility

SCHJ vs. OVT - Volatility Comparison

The current volatility for Schwab 1-5 Year Corporate Bond ETF (SCHJ) is 0.87%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.46%. This indicates that SCHJ experiences smaller price fluctuations and is considered to be less risky than OVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHJ	OVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.46%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	1.28%	2.83%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	2.28%	3.99%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.92%	4.63%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.18%	4.59%	-0.41%