GTO vs. VWEHX
GTO (Invesco Total Return Bond ETF) and VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) are both funds - GTO is a Intermediate Core-Plus Bond fund actively managed by Invesco, while VWEHX is a High Yield Bonds fund actively managed by Vanguard. Both are actively managed. Over the past 10 years, GTO returned 2.60%/yr vs 4.84%/yr for VWEHX. Their 0.31 correlation means their historical movements had little consistent relationship. GTO charges 0.35%/yr vs 0.22%/yr for VWEHX.
Performance
GTO vs. VWEHX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GTO achieves a -0.23% return, which is significantly lower than VWEHX's 0.76% return. Over the past 10 years, GTO has underperformed VWEHX with an annualized return of 2.60%, while VWEHX has yielded a comparatively higher 4.84% annualized return.
GTO
- 1D
- -0.22%
- 1M
- -1.23%
- 6M
- -0.66%
- YTD
- -0.23%
- 1Y
- 2.89%
- 3Y*
- 4.56%
- 5Y*
- -0.44%
- 10Y*
- 2.60%
- ALL TIME*
- 2.95%
VWEHX
- 1D
- 0.18%
- 1M
- -0.73%
- 6M
- 0.61%
- YTD
- 0.76%
- 1Y
- 4.52%
- 3Y*
- 7.46%
- 5Y*
- 3.72%
- 10Y*
- 4.84%
- ALL TIME*
- 4.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.60M | $9.43M | $10.69M | |
| $0.00 | $0.00 | $0.00 |
GTO vs. VWEHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GTO Invesco Total Return Bond ETF | -0.23% | 7.17% | 2.63% | 5.95% | -14.77% | -0.38% | 10.86% | 11.65% | -0.26% | 7.41% |
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 0.76% | 9.38% | 6.33% | 11.66% | -9.04% | 2.97% | 5.30% | 15.81% | -2.93% | 7.05% |
Correlation
The correlation between GTO and VWEHX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2016 | 0.31 |
Over the past year, GTO and VWEHX have become more correlated (0.54) than their long-term average of 0.31, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GTO vs. VWEHX — Risk / Return Rank
GTO
VWEHX
GTO vs. VWEHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Total Return Bond ETF (GTO) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). 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 | VWEHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.36 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.02 | -0.69 |
| Martin ratioReturn relative to average drawdown | 3.63 | 9.69 | -6.06 |
Loading charts...
Drawdowns
GTO vs. VWEHX - Drawdown Comparison
The maximum GTO drawdown since its inception was -20.61%, smaller than the maximum VWEHX drawdown of -30.17%. Use the drawdown chart below to compare losses from any high point for GTO and VWEHX.
Loading charts...
Drawdown Indicators
| GTO | VWEHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -30.17% | +9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.52% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -5.06% | -3.33% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | -13.83% | -6.78% |
Max Drawdown (10Y)Largest decline over 10 years | -20.61% | -19.69% | -0.92% |
Current DrawdownCurrent decline from peak | -2.52% | -0.91% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -4.28% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.52% | +0.48% |
Volatility
GTO vs. VWEHX - Volatility Comparison
Invesco Total Return Bond ETF (GTO) has a higher volatility of 0.90% compared to Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) at 0.68%. This indicates that GTO's price experiences larger fluctuations and is considered to be riskier than VWEHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GTO | VWEHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.68% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 2.68% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 3.31% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 4.92% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 5.24% | +0.28% |
GTO vs. VWEHX - Expense Ratio Comparison
GTO has a 0.35% expense ratio, which is higher than VWEHX's 0.22% expense ratio.
Dividends
GTO vs. VWEHX - Dividend Comparison
GTO's dividend yield for the trailing twelve months is around 4.91%, less than VWEHX's 5.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTO Invesco Total Return Bond ETF | 4.91% | 4.70% | 4.42% | 4.05% | 3.47% | 1.93% | 4.04% | 2.97% | 5.25% | 2.81% | 2.57% | 0.00% |
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 5.77% | 6.15% | 6.11% | 5.68% | 5.11% | 3.43% | 4.62% | 5.24% | 5.94% | 5.29% | 5.41% | 6.42% |
Frequently Asked Questions
GTO and VWEHX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTO has higher volatility (0.90%) compared to VWEHX (0.68%). In terms of maximum drawdown, GTO dropped -20.61% vs VWEHX's -30.17%.
VWEHX currently has the higher Sharpe Ratio (1.54 vs 1.08), 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.
Find the right allocation for GTO and VWEHX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer