OVTOverlay Shares Short Term Bond ETF
Seeks total return.
By Overlay Shares · Launched 2021
0.79%
#4,208 of 5,854 · expensive
$61M
#3,450 of 5,854 · mid-size
8.72%
5 years
#2,229 of 5,854 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 110.7% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Bond profile
Duration
4.3 years
Avg maturity
9.9 years
Credit ratings
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks total return.
- Strategy
- Actively manages an ETF investing in short-term, investment grade, U.S. dollar-denominated, fixed-rate taxable bonds with a maximum maturity of five years. Utilizes put spreads to generate income, focusing on equity index options to mitigate volatility and achieve targeted returns.
- Inception date
- January 14, 2021
- Fund family
- Overlay Shares
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
The big yield isn't extra money
The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.
Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-03