UNIY vs. OVB
UNIY (WisdomTree Voya Yield Enchanced USD Universal Bond Fund) and OVB (Overlay Shares Core Bond ETF) are both Intermediate Core Bond funds. UNIY is passively managed, while OVB is actively managed. Over the past 3 years, UNIY returned 4.72%/yr vs 5.72%/yr for OVB. Their correlation of 0.83 suggests significant overlap in exposure. UNIY charges 0.15%/yr vs 0.79%/yr for OVB.
Performance
UNIY vs. OVB - Performance Comparison
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Returns By Period
In the year-to-date period, UNIY achieves a 1.08% return, which is significantly lower than OVB's 2.49% return.
UNIY
- 1D
- 0.43%
- 1M
- 1.15%
- YTD
- 1.08%
- 6M
- 0.95%
- 1Y
- 4.80%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
OVB
- 1D
- 0.42%
- 1M
- 0.50%
- YTD
- 2.49%
- 6M
- 1.72%
- 1Y
- 7.08%
- 3Y*
- 5.72%
- 5Y*
- 0.61%
- 10Y*
- —
UNIY vs. OVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 1.08% | 7.37% | 1.86% | 3.83% |
OVB Overlay Shares Core Bond ETF | 2.49% | 7.72% | 4.03% | 3.55% |
Correlation
The correlation between UNIY and OVB is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2023 | 0.83 |
The correlation between UNIY and OVB has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.
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Return for Risk
UNIY vs. OVB — Risk / Return Rank
UNIY
OVB
UNIY vs. OVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY) and Overlay Shares Core Bond ETF (OVB). 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.
| UNIY | OVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.86 | -0.95 |
| Martin ratioReturn relative to average drawdown | 5.68 | 9.06 | -3.38 |
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Drawdowns
UNIY vs. OVB - Drawdown Comparison
The maximum UNIY drawdown since its inception was -6.27%, smaller than the maximum OVB drawdown of -21.69%. Use the drawdown chart below to compare losses from any high point for UNIY and OVB.
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Drawdown Indicators
| UNIY | OVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.27% | -21.69% | +15.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.49% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.40% | -8.18% | +2.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.69% | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.46% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -1.37% | -6.99% | +5.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.79% | +0.06% |
Volatility
UNIY vs. OVB - Volatility Comparison
The current volatility for WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY) is 1.12%, while Overlay Shares Core Bond ETF (OVB) has a volatility of 1.86%. This indicates that UNIY experiences smaller price fluctuations and is considered to be less risky than OVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UNIY | OVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.86% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 4.87% | -2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 5.97% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.84% | 7.34% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.84% | 7.58% | -2.74% |
UNIY vs. OVB - Expense Ratio Comparison
UNIY has a 0.15% expense ratio, which is lower than OVB's 0.79% expense ratio.
Dividends
UNIY vs. OVB - Dividend Comparison
UNIY's dividend yield for the trailing twelve months is around 4.82%, less than OVB's 6.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVB Overlay Shares Core Bond ETF | 6.97% | 6.00% | 5.81% | 5.20% | 4.67% | 4.59% | 3.88% | 0.58% |
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 4.82% | 4.95% | 4.86% | 3.99% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UNIY and OVB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVB has higher volatility (1.86%) compared to UNIY (1.12%). In terms of maximum drawdown, UNIY dropped -6.27% vs OVB's -21.69%.
On 3-year performance, OVB leads with 5.72% vs 4.72% for UNIY. On fees, UNIY is cheaper at 0.15% per year. On volatility, UNIY has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OVB has performed better with a 5.72% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UNIY is cheaper with a 0.15% expense ratio, compared with 0.79% for OVB.
OVB has the higher dividend yield at 6.97%, compared with 4.82% for UNIY.
They also come from different issuers: WisdomTree and Liquid Strategies. Their fees differ too: 0.15% for UNIY and 0.79% for OVB.
UNIY currently has the higher Sharpe Ratio (1.31 vs 1.21), 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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