MGOV vs OVB
First Trust Intermediate Government Opportunities ETF vs Overlay Shares Core Bond ETF
Which is better, MGOV or OVB?
Nearly the same fund. MGOV costs less.
MGOV has a lower expense ratio. MGOV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.95.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MGOV | OVB |
|---|---|---|
| Expense Ratio | 0.50%Best | 0.79% |
| AUM | $97M | $47M |
| Dividend Yield | 5.00% | 7.91% |
| Holdings | 406 | 16 |
| YTD Return | -2.85%Best | -4.97% |
| 1Y Return | -3.14%Best | -5.85% |
| 3Y Return (annualized) | +4.89%Best | +4.18% |
| 5Y Return (annualized) | - | -1.34% |
| Volatility (annualized) | 6.7%Best | 7.5% |
| Max Drawdown | -6.3%Best | -7.4% |
| $10,000 over 3.2 years | $11,133Best | $10,978 |
| Fund Family | First Trust Portfolios (US) | Overlay Shares |
| Category | Fixed Income | Fixed Income |
| Inception | Aug 2, 2023 | Sep 30, 2019 |
Not shown on this pair: Top 10 Weight, Style.
Volatility and max drawdown, and the $10,000 over 3.2 years row, are measured over the window both funds cover: Aug 3, 2023 to Oct 14, 2026 (3.2 years).
MGOV vs OVB growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.2 years both funds cover.
MGOV vs OVB Performance
First Trust Intermediate Government Opportunities ETF (MGOV) is an ETF from First Trust Portfolios (US) and Overlay Shares Core Bond ETF (OVB) is an ETF from Overlay Shares. Over the past year MGOV returned -3.14% while OVB returned -5.85%. Year to date, MGOV is down 2.85% versus a loss of 4.97% for OVB.
Over three years, MGOV compounded at +4.89% per year against +4.18% for OVB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OVB has been the more volatile fund, with annualized monthly volatility of 7.5% compared with 6.7% for MGOV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.3% for MGOV and -7.4% for OVB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MGOV charges 0.50% per year while OVB charges 0.79%. On a $10,000 position that is $50 vs $79 annually, a gap of $29 per year that compounds over a long holding period. On income, MGOV currently yields 5.00% against 7.91% for OVB.
Holdings Overlap
We hold position weights for 10 holdings in MGOV and 2 in OVB, totalling 10.2% and 100.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 10 positions we hold weights for in MGOV and 2 in OVB, against full books of 406 and 16.
You are not choosing between two funds in isolation.
Whichever of MGOV and OVB you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MGOV or OVB?
MGOV has an expense ratio of 0.50% while OVB charges 0.79%. MGOV is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, MGOV or OVB?
Over the past year MGOV returned -3.14% vs -5.85% for OVB, so MGOV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MGOV or OVB?
OVB has been the more volatile fund at 7.5% annualized versus 6.7% for MGOV. Worst drawdown: MGOV -6.3% vs OVB -7.4%.
Should I hold both MGOV and OVB?
MGOV and OVB have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, MGOV or OVB?
MGOV yields 5.00% while OVB yields 7.91%, so OVB currently pays the higher dividend yield.
Is OVB better than MGOV?
MGOV has a lower expense ratio. MGOV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.95. Which one suits a particular account depends on what it is for. This is information, not a recommendation.