UCRD vs. OVT

Last updated Aug 5, 2026

UCRD (VictoryShares ESG Corporate Bond ETF) and OVT (Overlay Shares Short Term Bond ETF) are both Corporate Bonds funds. Both are actively managed. Over the past 3 years, UCRD returned 5.43%/yr vs 7.15%/yr for OVT. Their 0.62 correlation means they have sometimes moved together and sometimes differently. UCRD charges 0.40%/yr vs 0.80%/yr for OVT.

Performance

UCRD vs. OVT - Performance Comparison

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

Returns By Period

In the year-to-date period, UCRD achieves a 0.19% return, which is significantly lower than OVT's 2.73% return.

UCRD

• 1D: 0.61%
• 1M: -0.73%
• 6M: -0.08%
• YTD: 0.19%
• 1Y: 2.68%
• 3Y*: 5.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.17%

OVT

• 1D: 0.30%
• 1M: 0.24%
• 6M: 2.10%
• YTD: 2.73%
• 1Y: 6.03%
• 3Y*: 7.15%
• 5Y*: 2.83%
• 10Y*: —
• ALL TIME*: 2.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OVT Overlay Shares Short Term Bond ETF	$505.96K	$370.12K	$305.03K
UCRD VictoryShares ESG Corporate Bond ETF	$6.23K	$3.75K	$2.97K

UCRD vs. OVT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCRD VictoryShares ESG Corporate Bond ETF	0.19%	7.90%	2.68%	9.27%	-17.13%	0.32%
OVT Overlay Shares Short Term Bond ETF	2.73%	7.61%	7.44%	7.73%	-9.68%	0.53%

Correlation

The correlation between UCRD and OVT is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.62

The correlation between UCRD and OVT has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

Return for Risk

UCRD vs. OVT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UCRD

UCRD Risk / Return Rank: 24
UCRD Sharpe Ratio Rank: 24
UCRD Sortino Ratio Rank: 23
UCRD Omega Ratio Rank: 22
UCRD Calmar Ratio Rank: 27
UCRD Martin Ratio Rank: 27

OVT

OVT Risk / Return Rank: 70
OVT Sharpe Ratio Rank: 61
OVT Sortino Ratio Rank: 59
OVT Omega Ratio Rank: 65
OVT Calmar Ratio Rank: 88
OVT Martin Ratio Rank: 75

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UCRD vs. OVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares ESG Corporate Bond ETF (UCRD) 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.

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.

	UCRD	OVT	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.63	-1.00
Sortino ratio: Return per unit of downside risk	0.93	2.27	-1.34
Omega ratio: Gain probability vs. loss probability	1.11	1.31	-0.20
Calmar ratio: Return relative to maximum drawdown	0.93	3.90	-2.97
Martin ratio: Return relative to average drawdown	2.48	10.72	-8.24

UCRD vs. OVT - Sharpe Ratio Comparison

The current UCRD Sharpe Ratio is 0.63, which is lower than the OVT Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of UCRD and OVT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UCRD vs. OVT - Drawdown Comparison

The maximum UCRD drawdown since its inception was -22.37%, which is greater than OVT's maximum drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for UCRD and OVT.

Drawdown Indicators

	UCRD	OVT	Difference
Max Drawdown Largest peak-to-trough decline	-22.37%	-13.59%	-8.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-1.55%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-5.54%	-3.55%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.59%	—
Current Drawdown Current decline from peak	-1.44%	-0.29%	-1.15%
Average Drawdown Average peak-to-trough decline	-8.16%	-3.31%	-4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	0.56%	+0.52%

Volatility

UCRD vs. OVT - Volatility Comparison

VictoryShares ESG Corporate Bond ETF (UCRD) has a higher volatility of 1.30% compared to Overlay Shares Short Term Bond ETF (OVT) at 1.22%. This indicates that UCRD's price experiences larger fluctuations and is considered to be riskier than OVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCRD	OVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	1.22%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	3.48%	2.78%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	3.71%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.47%	4.69%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.47%	4.54%	+2.93%

UCRD vs. OVT - Expense Ratio Comparison

UCRD has a 0.40% expense ratio, which is lower than OVT's 0.80% expense ratio.

Dividends

UCRD vs. OVT - Dividend Comparison

UCRD's dividend yield for the trailing twelve months is around 4.26%, less than OVT's 7.62% yield.

Position	TTM	2025	2024	2023	2022	2021
OVT Overlay Shares Short Term Bond ETF	7.62%	7.21%	6.15%	5.11%	4.12%	4.41%
UCRD VictoryShares ESG Corporate Bond ETF	4.26%	4.05%	4.00%	3.56%	2.72%	0.54%

Frequently Asked Questions

Can I hold both UCRD and OVT in my portfolio?

UCRD and OVT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCRD or OVT?

UCRD has higher volatility (1.30%) compared to OVT (1.22%). In terms of maximum drawdown, UCRD dropped -22.37% vs OVT's -13.59%.

Which ETF is better, UCRD or OVT?

On 3-year performance, OVT leads with 7.15% vs 5.43% for UCRD. On fees, UCRD is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCRD or OVT?

Over the 3-year period, OVT has performed better with a 7.15% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCRD or OVT?

UCRD is cheaper with a 0.40% expense ratio, compared with 0.80% for OVT.

Which ETF pays a higher dividend yield, UCRD or OVT?

OVT has the higher dividend yield at 7.62%, compared with 4.26% for UCRD.

What is the main difference between UCRD and OVT?

They also come from different issuers: Victory and Liquid Strategies. Their fees differ too: 0.40% for UCRD and 0.80% for OVT.

Which has better risk-adjusted returns?

OVT currently has the higher Sharpe Ratio (1.63 vs 0.63), 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.