GTOC vs. BTOT

Last updated Jun 25, 2026

GTOC (Invesco Core Fixed Income ETF) and BTOT (iShares Total USD Fixed Income Market ETF) are both exchange-traded funds - GTOC is a Intermediate Core Bond fund actively managed by Invesco, while BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index. GTOC is actively managed, while BTOT is passively managed. With a 0.96 correlation, they move nearly in lockstep. GTOC charges 0.26%/yr vs 0.09%/yr for BTOT.

Performance

GTOC vs. BTOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Core Fixed Income ETF (GTOC) and iShares Total USD Fixed Income Market ETF (BTOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GTOC having a 1.02% return and BTOT slightly higher at 1.04%.

GTOC

• 1D: 0.44%
• 1M: 1.04%
• YTD: 1.02%
• 6M: 0.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTOT

• 1D: 0.42%
• 1M: 1.09%
• YTD: 1.04%
• 6M: 0.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GTOC vs. BTOT - Yearly Performance Comparison

	2026 (YTD)	2025
GTOC Invesco Core Fixed Income ETF	1.02%	0.10%
BTOT iShares Total USD Fixed Income Market ETF	1.04%	0.12%

Correlation

The correlation between GTOC and BTOT 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 Dec 11, 2025	0.96

Return for Risk

GTOC vs. BTOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Core Fixed Income ETF (GTOC) and iShares Total USD Fixed Income Market ETF (BTOT). 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.

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

Drawdowns

GTOC vs. BTOT - Drawdown Comparison

The maximum GTOC drawdown since its inception was -2.70%, which is greater than BTOT's maximum drawdown of -2.36%. Use the drawdown chart below to compare losses from any high point for GTOC and BTOT.

Drawdown Indicators

	GTOC	BTOT	Difference
Max Drawdown Largest peak-to-trough decline	-2.70%	-2.36%	-0.34%
Current Drawdown Current decline from peak	-0.91%	-0.54%	-0.37%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.79%	+0.09%

Volatility

Volatility by Period

	GTOC	BTOT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.73%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	3.73%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	3.73%	-0.04%

GTOC vs. BTOT - Expense Ratio Comparison

GTOC has a 0.26% expense ratio, which is higher than BTOT's 0.09% 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. BTOT - Dividend Comparison

GTOC's dividend yield for the trailing twelve months is around 4.03%, more than BTOT's 2.11% yield.

Position	TTM	2025
BTOT iShares Total USD Fixed Income Market ETF	2.11%	0.22%
GTOC Invesco Core Fixed Income ETF	4.03%	1.88%

Frequently Asked Questions

Can I hold both GTOC and BTOT in my portfolio?

With a correlation of 0.96, GTOC and BTOT 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 BTOT?

On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GTOC or BTOT?

BTOT is cheaper with a 0.09% expense ratio, compared with 0.26% for GTOC.

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

GTOC has the higher dividend yield at 4.03%, compared with 2.11% for BTOT.

What is the main difference between GTOC and BTOT?

GTOC is categorized as Intermediate Core Bond, while BTOT is Total Bond Market. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.26% for GTOC and 0.09% for BTOT.