OVM Performance — Overlay Shares Municipal Bond ETF
Data updated: 2026-07-30
OVM returned +3.71% year to date and +11.46% over one year to May 2026. Annualised returns are +5.37% over 3 years and +1.62% over 5 years. The fund beat its Long-Term Core Bond category average: $100 invested three years ago grew to $117, against $114 for the category, and to $111 over one year, against $106. Volatility over the past three years was 7.24% a year. In the 12 months to May 2026 the fund took in a net $9.7M, and assets reached $38.04M.
OVM Growth of $100
What $100 invested in Overlay Shares Municipal Bond ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Core Bond category average over the same months.
| Period | OVM | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $111 | $106 |
| 3 years (Jun 2023 – May 2026) | $117 | $114 |
| 5 years (Jun 2021 – May 2026) | $108 | $101 |
| Since data start (Mar 2020 – May 2026) | $118 | $104 |
OVM Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +3.71% |
| 1 year | +11.46% |
| 3 years (annualised) | +5.37% |
| 5 years (annualised) | +1.62% |
OVM Annual Returns
Calendar-year total returns of Overlay Shares Municipal Bond ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +3.71% |
| 2025 | +4.36% |
| 2024 | +3.56% |
| 2023 | +7.12% |
| 2022 | −11.31% |
| 2021 | +3.85% |
| 2020 (Mar–Dec) | +6.52% |
OVM Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.2% | +1.8% | −1.9% | +1.8% | +0.8% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.3% | −3.5% | −0.6% | −0.3% | +1.4% | +0.3% | +0.8% | +2.5% | +1.4% | +0.4% | +0.4% |
| 2024 | +0.7% | +0.8% | +0.5% | −2.3% | +0.8% | +1.6% | +1.3% | +0.6% | +1.2% | −1.8% | +2.5% | −2.3% |
| 2023 | +3.1% | −2.7% | +2.8% | +0.2% | −0.7% | +1.2% | +0.2% | −1.0% | −3.6% | −2.7% | +8.0% | +2.7% |
| 2022 | −3.8% | −0.5% | −2.1% | −4.1% | +1.6% | −2.0% | +2.8% | −3.2% | −4.8% | +0.2% | +5.3% | −0.7% |
| 2021 | +0.1% | −1.2% | +1.3% | +1.3% | +0.6% | +0.8% | +0.7% | +0.3% | −1.7% | +0.8% | +1.0% | −0.1% |
| 2020 | — | — | −2.7% | −1.0% | +4.4% | +0.9% | +2.4% | +0.1% | −0.3% | −0.9% | +2.3% | +1.1% |
OVM Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 7.24%
- 3-year Sharpe ratio: 0.12 (vs 4.5% risk-free rate)
- Best month: +7.98% (Nov 2023)
- Worst month: −3.63% (Sep 2023)
OVM Fund Flows
Monthly money in and out of Overlay Shares Municipal Bond ETF, from SEC Form N-PORT.
- 12-month net flow: $9.7M
- 12-month gross sales (incl. reinvestments): $13.6M
- Sales ÷ redemptions: 3.51×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $2.2M | $217K | $2.0M |
| Apr 2026 | $217K | $0 | $217K |
| Mar 2026 | $2.6M | $0 | $2.6M |
| Feb 2026 | $434K | $1.1M | −$661K |
| Jan 2026 | $217K | $1.5M | −$1.3M |
| Dec 2025 | $3.7M | $0 | $3.7M |
| Nov 2025 | $645K | $0 | $645K |
| Oct 2025 | $2.6M | $0 | $2.6M |
| Sep 2025 | $0 | $0 | $0 |
| Aug 2025 | $419K | $0 | $419K |
| Jul 2025 | $623K | $418K | $204K |
| Jun 2025 | $0 | $625K | −$625K |
OVM Assets Under Management
Net assets of Overlay Shares Municipal Bond ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $38.04M |
| 2026-02-28 | $33.45M |
| 2025-11-30 | $31.33M |
| 2025-08-31 | $27.28M |
| 2025-05-31 | $26.95M |
| 2025-02-28 | $30.57M |
| 2024-11-30 | $27.59M |
| 2024-08-31 | $22.91M |
| 2024-05-31 | $22.40M |
| 2024-02-29 | $20.45M |
| 2023-11-30 | $13.56M |
| 2023-08-31 | $14.11M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.