GTOC vs. BIV

Last updated Jun 4, 2026

GTOC (Invesco Core Fixed Income ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both Intermediate Core Bond funds. GTOC is actively managed, while BIV is passively managed. With a 0.96 correlation, they move nearly in lockstep. GTOC charges 0.26%/yr vs 0.03%/yr for BIV.

Performance

GTOC vs. BIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Core Fixed Income ETF (GTOC) and Vanguard Intermediate-Term Bond Index ETF (BIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTOC achieves a 0.39% return, which is significantly higher than BIV's -0.24% return.

GTOC

• 1D: -0.21%
• 1M: 0.32%
• YTD: 0.39%
• 6M: 0.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIV

• 1D: -0.22%
• 1M: 0.04%
• YTD: -0.24%
• 6M: -0.48%
• 1Y: 4.80%
• 3Y*: 4.27%
• 5Y*: 0.25%
• 10Y*: 1.91%

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

GTOC vs. BIV - Yearly Performance Comparison

	2026 (YTD)	2025
GTOC Invesco Core Fixed Income ETF	0.39%	3.52%
BIV Vanguard Intermediate-Term Bond Index ETF	-0.24%	3.57%

Correlation

The correlation between GTOC and BIV is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.96

Return for Risk

GTOC vs. BIV — Risk / Return Rank

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

BIV

BIV Risk / Return Rank: 31
BIV Sharpe Ratio Rank: 32
BIV Sortino Ratio Rank: 32
BIV Omega Ratio Rank: 30
BIV Calmar Ratio Rank: 30
BIV Martin Ratio Rank: 31

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.

GTOC vs. BIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Core Fixed Income ETF (GTOC) and Vanguard Intermediate-Term Bond Index ETF (BIV). 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

	GTOC	BIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.19	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.65	+0.62

Drawdowns

GTOC vs. BIV - Drawdown Comparison

The maximum GTOC drawdown since its inception was -2.70%, smaller than the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for GTOC and BIV.

Drawdown Indicators

	GTOC	BIV	Difference
Max Drawdown Largest peak-to-trough decline	-2.70%	-18.95%	+16.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.95%	—
Current Drawdown Current decline from peak	-1.52%	-2.04%	+0.52%
Average Drawdown Average peak-to-trough decline	-0.66%	-3.39%	+2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.05%	—

Volatility

Volatility by Period

	GTOC	BIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	4.06%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.62%	6.40%	-2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.62%	5.50%	-1.88%

GTOC vs. BIV - Expense Ratio Comparison

GTOC has a 0.26% expense ratio, which is higher than BIV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GTOC vs. BIV - Dividend Comparison

GTOC's dividend yield for the trailing twelve months is around 3.64%, less than BIV's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIV Vanguard Intermediate-Term Bond Index ETF	4.22%	4.01%	3.79%	3.09%	2.41%	3.42%	2.95%	2.75%	2.88%	2.69%	3.01%	3.02%
GTOC Invesco Core Fixed Income ETF	3.64%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTOC and BIV in my portfolio?

With a correlation of 0.96, GTOC and BIV 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.

Which ETF is better, GTOC or BIV?

On fees, BIV is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GTOC or BIV?

BIV is cheaper with a 0.03% expense ratio, compared with 0.26% for GTOC.

Which ETF pays a higher dividend yield, GTOC or BIV?

BIV has the higher dividend yield at 4.22%, compared with 3.64% for GTOC.

What is the main difference between GTOC and BIV?

They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.26% for GTOC and 0.03% for BIV.