GTO vs. CAAA
Compare and contrast key facts about Invesco Total Return Bond ETF (GTO) and First Trust Commercial Mortgage Opportunities ETF (CAAA).
GTO and CAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GTO is an actively managed fund by Invesco. It was launched on Feb 10, 2016. CAAA is an actively managed fund by First Trust. It was launched on Feb 26, 2024.
Performance
GTO vs. CAAA - Performance Comparison
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GTO vs. CAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GTO Invesco Total Return Bond ETF | -0.10% | 7.17% | 3.75% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 0.17% | 8.03% | 4.65% |
Returns By Period
In the year-to-date period, GTO achieves a -0.10% return, which is significantly lower than CAAA's 0.17% return.
GTO
- 1D
- 0.30%
- 1M
- -1.96%
- YTD
- -0.10%
- 6M
- 0.92%
- 1Y
- 4.65%
- 3Y*
- 4.30%
- 5Y*
- 0.16%
- 10Y*
- 3.02%
CAAA
- 1D
- 0.22%
- 1M
- -1.28%
- YTD
- 0.17%
- 6M
- 1.67%
- 1Y
- 5.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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GTO vs. CAAA - Expense Ratio Comparison
GTO has a 0.35% expense ratio, which is lower than CAAA's 0.55% expense ratio.
Return for Risk
GTO vs. CAAA — Risk / Return Rank
GTO
CAAA
GTO vs. CAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Total Return Bond ETF (GTO) and First Trust Commercial Mortgage Opportunities ETF (CAAA). 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.
| GTO | CAAA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 1.68 | -0.52 |
Sortino ratioReturn per unit of downside risk | 1.58 | 2.43 | -0.85 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.75 | -1.07 |
Martin ratioReturn relative to average drawdown | 5.09 | 9.74 | -4.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GTO | CAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.68 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 1.91 | -1.40 |
Correlation
The correlation between GTO and CAAA is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GTO vs. CAAA - Dividend Comparison
GTO's dividend yield for the trailing twelve months is around 4.78%, less than CAAA's 5.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
GTO Invesco Total Return Bond ETF | 4.78% | 4.70% | 4.42% | 4.05% | 3.47% | 1.93% | 4.04% | 2.97% | 5.25% | 2.81% | 2.57% |
CAAA First Trust Commercial Mortgage Opportunities ETF | 5.68% | 6.09% | 4.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GTO vs. CAAA - Drawdown Comparison
The maximum GTO drawdown since its inception was -20.61%, which is greater than CAAA's maximum drawdown of -2.24%. Use the drawdown chart below to compare losses from any high point for GTO and CAAA.
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Drawdown Indicators
| GTO | CAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -2.24% | -18.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.08% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.61% | — | — |
Current DrawdownCurrent decline from peak | -2.39% | -1.42% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -0.52% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.59% | +0.38% |
Volatility
GTO vs. CAAA - Volatility Comparison
Invesco Total Return Bond ETF (GTO) has a higher volatility of 1.58% compared to First Trust Commercial Mortgage Opportunities ETF (CAAA) at 1.20%. This indicates that GTO's price experiences larger fluctuations and is considered to be riskier than CAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTO | CAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.20% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 2.20% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 3.34% | +0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.69% | 3.23% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.57% | 3.23% | +2.34% |