EQLS vs. GTOQ

Last updated Jun 4, 2026

EQLS (Simplify Market Neutral Equity Long/Short ETF) and GTOQ (Invesco High Yield Systematic Bond ETF) are both exchange-traded funds - EQLS is a Long-Short fund actively managed by Simplify, while GTOQ is a High Yield Bonds fund actively managed by Invesco. Both are actively managed. At a correlation of -0.07, they often move in opposite directions. EQLS charges 1.00%/yr vs 0.39%/yr for GTOQ.

Performance

EQLS vs. GTOQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Market Neutral Equity Long/Short ETF (EQLS) and Invesco High Yield Systematic Bond ETF (GTOQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQLS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GTOQ

• 1D: -0.22%
• 1M: 0.72%
• YTD: 1.48%
• 6M: 1.98%
• 1Y: 7.09%
• 3Y*: 8.88%
• 5Y*: 3.96%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EQLS vs. GTOQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.63%
GTOQ Invesco High Yield Systematic Bond ETF	1.48%	8.04%	8.13%	8.83%

Correlation

The correlation between EQLS and GTOQ is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	-0.07

Return for Risk

EQLS vs. GTOQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GTOQ

GTOQ Risk / Return Rank: 59
GTOQ Sharpe Ratio Rank: 60
GTOQ Sortino Ratio Rank: 64
GTOQ Omega Ratio Rank: 63
GTOQ Calmar Ratio Rank: 49
GTOQ Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EQLS vs. GTOQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) and Invesco High Yield Systematic Bond ETF (GTOQ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EQLS	GTOQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.98	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.77	—

Drawdowns

Drawdown Indicators

	EQLS	GTOQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-15.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.95%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.96%	—
Current Drawdown Current decline from peak	—	-0.22%	—
Average Drawdown Average peak-to-trough decline	—	-3.31%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.69%	—

Volatility

Volatility by Period

	EQLS	GTOQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.60%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.71%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.52%	—

EQLS vs. GTOQ - Expense Ratio Comparison

EQLS has a 1.00% expense ratio, which is higher than GTOQ's 0.39% expense ratio.

Dividends

EQLS vs. GTOQ - Dividend Comparison

EQLS has not paid dividends to shareholders, while GTOQ's dividend yield for the trailing twelve months is around 6.81%.

Position	TTM	2025	2024	2023	2022	2021
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%
GTOQ Invesco High Yield Systematic Bond ETF	6.81%	7.04%	7.20%	6.76%	6.17%	4.86%

Frequently Asked Questions

Can I hold both EQLS and GTOQ in my portfolio?

EQLS and GTOQ have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EQLS or GTOQ?

On fees, GTOQ is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQLS or GTOQ?

GTOQ is cheaper with a 0.39% expense ratio, compared with 1.00% for EQLS.

Which ETF pays a higher dividend yield, EQLS or GTOQ?

GTOQ has the higher dividend yield at 6.81%, compared with 0.00% for EQLS.

What is the main difference between EQLS and GTOQ?

EQLS is categorized as Long-Short, while GTOQ is High Yield Bonds. They also come from different issuers: Simplify and Invesco. Their fees differ too: 1.00% for EQLS and 0.39% for GTOQ.