SKOR vs. OVT
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. SKOR is passively managed, while OVT is actively managed. Over the past 5 years, SKOR returned 1.81%/yr vs 3.05%/yr for OVT. A 0.67 correlation means they provide meaningful diversification when combined. SKOR charges 0.22%/yr vs 0.80%/yr for OVT.
Performance
SKOR vs. OVT - Performance Comparison
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Returns By Period
In the year-to-date period, SKOR achieves a 0.45% return, which is significantly lower than OVT's 2.80% return.
SKOR
- 1D
- 0.11%
- 1M
- 0.25%
- YTD
- 0.45%
- 6M
- 0.78%
- 1Y
- 5.01%
- 3Y*
- 5.94%
- 5Y*
- 1.81%
- 10Y*
- 2.88%
OVT
- 1D
- 0.19%
- 1M
- 0.65%
- YTD
- 2.80%
- 6M
- 3.36%
- 1Y
- 8.90%
- 3Y*
- 7.53%
- 5Y*
- 3.05%
- 10Y*
- —
SKOR vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.45% | 7.99% | 4.42% | 7.64% | -9.88% | -0.86% |
OVT Overlay Shares Short Term Bond ETF | 2.80% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Correlation
The correlation between SKOR and OVT is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021 | 0.67 |
The correlation between SKOR and OVT has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.
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Return for Risk
SKOR vs. OVT — Risk / Return Rank
SKOR
OVT
SKOR vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) 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.
| SKOR | OVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.51 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 5.76 | -3.35 |
| Martin ratioReturn relative to average drawdown | 8.60 | 20.01 | -11.41 |
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
| SKOR | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 2.60 | -0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.66 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.69 | -0.06 |
Drawdowns
SKOR vs. OVT - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for SKOR and OVT.
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Drawdown Indicators
| SKOR | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -13.59% | -2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -1.55% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -3.55% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -13.59% | -1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | — | — |
Current DrawdownCurrent decline from peak | -0.67% | -0.23% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -3.39% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.45% | +0.13% |
Volatility
SKOR vs. OVT - Volatility Comparison
FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) and Overlay Shares Short Term Bond ETF (OVT) have volatilities of 0.84% and 0.84%, 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.
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Volatility by Period
| SKOR | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.84% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 2.53% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 3.45% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 4.63% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 4.54% | +0.36% |
SKOR vs. OVT - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is lower than OVT's 0.80% expense ratio.
Dividends
SKOR vs. OVT - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.66%, less than OVT's 8.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OVT Overlay Shares Short Term Bond ETF | 8.15% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.66% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
SKOR and OVT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVT has higher volatility (0.84%) compared to SKOR (0.84%). In terms of maximum drawdown, SKOR dropped -15.98% vs OVT's -13.59%.
On 5-year performance, OVT leads with 3.05% vs 1.81% for SKOR. On fees, SKOR is cheaper at 0.22% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OVT has performed better with a 3.05% return vs 1.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.80% for OVT.
OVT has the higher dividend yield at 8.15%, compared with 4.66% for SKOR.
They also come from different issuers: Northern Trust and Liquid Strategies. Their fees differ too: 0.22% for SKOR and 0.80% for OVT.
OVT currently has the higher Sharpe Ratio (2.60 vs 1.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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