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Overlay Shares Municipal Bond ETF (OVM)
USD21.69
-0.08 (-0.37%)
CBOE USD US Fixed Income
NAV
USD 21.58
+0.51% vs NAV
as of 2025-10-31
AUM
USD 30.60M
TER
0.83%
Yield (TTM)
5.29%
Distribution
Distributing · Quarterly
52-week range
20.78 – 21.96
Holdings
11
Issuer
Overlay Shares
About this ETF
The fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of investment grade municipal bonds and below investment grade municipal bonds or directly in the securities held by such ETFs and (ii) selling and purchasing listed short-term put options to generate income to the fund.
ISIN
US53656F8547
Issuer
Overlay Shares
Domicile
US
Inception
2019-10-01
Asset class
Fixed Income
Website
overlayshares.com/ovm
Price
Top 10 holdings
| iShares National Muni Bond ETF MUB | 100.00% |
| CBOE S&P PUT OPT 07/26 7475 | 0.00% |
| SPXW US 07/15/26 P7330 | 0.00% |
| CBOE S&P PUT OPT 07/26 7550 | 0.00% |
| SPXW US 07/16/26 P7430 | 0.00% |
| First American Government Obligations Fund 12/01/2031 | 0.00% |
| SPXW US 07/13/26 P7450 | 0.00% |
| SPXW US 07/13/26 P7550 | 0.00% |
| Cash & Other | 0.00% |
| SPXW US 07/15/26 P7400 | 0.00% |
Sector mix
Price chart
USD21.69
-0.08 (-0.37%)
Loading historical data…
Returns
| 1 month | +0.18% |
| 3 months | +0.14% |
| 6 months | +0.23% |
| Year to date | +1.07% |
| 1 year | +3.48% |
| 3 years (ann.) | -0.09% |
| 5 years (ann.) | -3.69% |
| 10 years (ann.) | — |
Risk profile
| Volatility (1y, ann.) | 4.80% |
| Sharpe (1y) | 0.74 |
| Sharpe (3y) | 0.01 |
| Sortino (1y) | 0.92 |
| Max drawdown (1y) | -2.91% |
| Max drawdown (5y) | -24.11% |
| Max drawdown (full) | -24.25% |
| Beta vs S&P 500 (1y) | 0.24 |
| Correlation vs S&P 500 (1y) | 0.62 |
Technical outlook as of 2026-07-13
Day Score (bias 0-100, not a probability)
40
P(gain) 22 sessions — probability
46%
VaR 95% (daily)
-0.62%
CVaR 95% (daily)
-1.12%
GARCH vol forecast (22d)
0.37%
Market regime (Markov)
Lateral
The Monte Carlo cone is drawn on the price chart above (Forecast overlay); RSI, MACD and the rest of the oscillators live in its indicator panels.
Top-10 concentration
100.0%
Effective holdings
1
Disclosed positions
11
Full holdings
| Constituent | ISIN | Market value | Weight |
|---|---|---|---|
| Loading… | |||
Sector breakdown
Geographic exposure
Loading map…
Cost vs. peers
OVM
0.83%
Fixed Income median
0.20%
Cheapest in class BKAG
0.00%
Comparison universe: 1,710 funds of the same asset class.
Cost impact calculator
Dividend history
Distributing share class Income is paid out to shareholders.
| Ex-date | Payment | Amount |
|---|---|---|
| 2026-06-26 | 2026-06-29 | USD 0.0921 |
| 2026-05-27 | 2026-05-28 | USD 0.0948 |
| 2026-04-28 | 2026-04-29 | USD 0.0929 |
| 2026-03-27 | 2026-03-30 | USD 0.0931 |
| 2026-02-25 | 2026-02-26 | USD 0.0936 |
| 2026-01-28 | 2026-01-29 | USD 0.0935 |
| 2025-12-23 | 2025-12-24 | USD 0.2807 |
| 2025-10-03 | 2025-10-06 | USD 0.3066 |
| 2025-07-03 | 2025-07-07 | USD 0.2791 |
| 2025-04-03 | 2025-04-04 | USD 0.3028 |
| 2024-12-24 | 2024-12-26 | USD 0.2739 |
| 2024-10-03 | 2024-10-04 | USD 0.2699 |
| 2024-07-03 | 2024-07-05 | USD 0.2708 |
| 2024-04-03 | 2024-04-05 | USD 0.2539 |
| 2023-12-27 | 2023-12-29 | USD 0.2709 |
| 2023-10-03 | 2023-10-05 | USD 0.2504 |
| 2023-07-05 | 2023-07-07 | USD 0.2535 |
| 2023-04-04 | 2023-04-06 | USD 0.2552 |
| 2022-12-28 | 2022-12-30 | USD 0.2420 |
| 2022-10-04 | 2022-10-06 | USD 0.2280 |
| 2022-07-05 | 2022-07-07 | USD 0.2180 |
| 2022-04-04 | 2022-04-06 | USD 0.2210 |
| 2021-12-29 | 2021-12-31 | USD 0.8010 |
| 2021-10-04 | 2021-10-06 | USD 0.2400 |
| 2021-07-02 | 2021-07-07 | USD 0.2520 |
| 2021-04-05 | 2021-04-07 | USD 0.2530 |
| 2020-12-28 | 2020-12-30 | USD 0.2550 |
| 2020-10-02 | 2020-10-06 | USD 0.2580 |
| 2020-07-02 | 2020-07-07 | USD 0.2600 |
| 2020-03-27 | 2020-03-31 | USD 0.2500 |
| 2019-12-27 | 2019-12-31 | USD 0.1470 |
ESG profile
No ESG estimate available: none of the scored universe overlaps this portfolio (typical for bond, commodity or synthetic funds).
Scored coverage: 0.0% of the portfolio by weight.
Similar ETFs
| Fund | TER | AUM (USD) | Yield (TTM) | Return 1y | Sharpe 1y |
|---|---|---|---|---|---|
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 4.01% | -0.82% | -0.19 |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 4.03% | -0.76% | -0.17 |
| Vanguard Total International Bond ETF BNDX | 0.07% | 122.00B | 4.52% | -2.72% | -0.64 |
| iShares 0-3 Month Treasury Bond ETF SGOV | 0.09% | 97.69B | 3.80% | +0.05% | 0.05 |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 4.16% | -0.54% | -0.18 |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 4.02% | -1.02% | -0.48 |
| Vanguard Intermediate-Term Corporate Bond ETF VCIT | 0.03% | 68.70B | 4.86% | -1.04% | -0.22 |
| Vanguard Intermediate-Term Bond ETF BIV | 0.03% | 52.20B | 4.27% | -1.28% | -0.28 |
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 4.47% | -0.85% | -0.36 |
| Vanguard Intermediate-Term Treasury ETF VGIT | 0.03% | 49.50B | 3.89% | -1.50% | -0.41 |
Cheaper alternatives
No fund of the class reaches 60% portfolio overlap — showing the cheapest funds of the class instead.
| Fund | TER | AUM (USD) | Overlap |
|---|---|---|---|
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 0.0% |
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 0.0% |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 0.0% |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 0.0% |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 0.0% |
