GTO vs. DODIX
GTO (Invesco Total Return Bond ETF) and DODIX (Dodge & Cox Income Fund) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 10 years, GTO returned 2.86%/yr vs 2.92%/yr for DODIX. Their correlation of 0.82 suggests significant overlap in exposure. GTO charges 0.35%/yr vs 0.41%/yr for DODIX.
Performance
GTO vs. DODIX - Performance Comparison
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Returns By Period
In the year-to-date period, GTO achieves a 0.74% return, which is significantly higher than DODIX's 0.67% return. Both investments have delivered pretty close results over the past 10 years, with GTO having a 2.86% annualized return and DODIX not far ahead at 2.92%.
GTO
- 1D
- -0.21%
- 1M
- 0.57%
- YTD
- 0.74%
- 6M
- 0.80%
- 1Y
- 5.64%
- 3Y*
- 4.78%
- 5Y*
- 0.05%
- 10Y*
- 2.86%
DODIX
- 1D
- 0.23%
- 1M
- 0.95%
- YTD
- 0.67%
- 6M
- 0.83%
- 1Y
- 5.75%
- 3Y*
- 5.20%
- 5Y*
- 1.20%
- 10Y*
- 2.92%
GTO vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GTO Invesco Total Return Bond ETF | 0.74% | 7.17% | 2.63% | 5.95% | -14.77% | -0.38% | 10.86% | 11.65% | -0.26% | 7.41% |
DODIX Dodge & Cox Income Fund | 0.67% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
Correlation
The correlation between GTO and DODIX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2016 | 0.82 |
The correlation between GTO and DODIX shifts across timeframes, from 0.82 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GTO vs. DODIX — Risk / Return Rank
GTO
DODIX
GTO vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Total Return Bond ETF (GTO) and Dodge & Cox Income Fund (DODIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GTO | DODIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 1.82 | +0.25 |
| Martin ratioReturn relative to average drawdown | 6.33 | 5.22 | +1.11 |
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Drawdowns
GTO vs. DODIX - Drawdown Comparison
The maximum GTO drawdown since its inception was -20.61%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for GTO and DODIX.
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Drawdown Indicators
| GTO | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -16.89% | -3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.17% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -5.68% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | -16.89% | -3.72% |
Max Drawdown (10Y)Largest decline over 10 years | -20.61% | -16.89% | -3.72% |
Current DrawdownCurrent decline from peak | -1.57% | -1.48% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.79% | -1.50% | -3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.10% | -0.21% |
Volatility
GTO vs. DODIX - Volatility Comparison
The current volatility for Invesco Total Return Bond ETF (GTO) is 0.98%, while Dodge & Cox Income Fund (DODIX) has a volatility of 1.18%. This indicates that GTO experiences smaller price fluctuations and is considered to be less risky than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTO | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.18% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 3.06% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 4.05% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 5.57% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 4.45% | +1.14% |
GTO vs. DODIX - Expense Ratio Comparison
GTO has a 0.35% expense ratio, which is lower than DODIX's 0.41% expense ratio.
Dividends
GTO vs. DODIX - Dividend Comparison
GTO's dividend yield for the trailing twelve months is around 5.18%, more than DODIX's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.25% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
GTO Invesco Total Return Bond ETF | 5.18% | 4.70% | 4.42% | 4.05% | 3.47% | 1.93% | 4.04% | 2.97% | 5.25% | 2.81% | 2.57% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, GTO and DODIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DODIX has higher volatility (1.18%) compared to GTO (0.98%). In terms of maximum drawdown, GTO dropped -20.61% vs DODIX's -16.89%.
GTO currently has the higher Sharpe Ratio (1.67 vs 1.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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