GTOC vs. SPHD

Last updated Jun 5, 2026

GTOC (Invesco Core Fixed Income ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - GTOC is a Intermediate Core Bond fund actively managed by Invesco, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. GTOC is actively managed, while SPHD is passively managed. At a 0.31 correlation, their price movements are largely independent. GTOC charges 0.26%/yr vs 0.30%/yr for SPHD.

Performance

GTOC vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Core Fixed Income ETF (GTOC) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTOC achieves a 0.50% return, which is significantly lower than SPHD's 5.63% return.

GTOC

• 1D: 0.11%
• 1M: 0.30%
• YTD: 0.50%
• 6M: 0.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPHD

• 1D: 1.20%
• 1M: 0.01%
• YTD: 5.63%
• 6M: 6.27%
• 1Y: 10.27%
• 3Y*: 11.98%
• 5Y*: 5.73%
• 10Y*: 7.17%

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

GTOC vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025
GTOC Invesco Core Fixed Income ETF	0.50%	3.52%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	5.63%	-0.86%

Correlation

The correlation between GTOC and SPHD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.31

Return for Risk

GTOC vs. SPHD — Risk / Return Rank

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

SPHD

SPHD Risk / Return Rank: 27
SPHD Sharpe Ratio Rank: 27
SPHD Sortino Ratio Rank: 27
SPHD Omega Ratio Rank: 24
SPHD Calmar Ratio Rank: 29
SPHD Martin Ratio Rank: 26

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. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Core Fixed Income ETF (GTOC) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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	SPHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.58	+0.71

Drawdowns

GTOC vs. SPHD - Drawdown Comparison

The maximum GTOC drawdown since its inception was -2.70%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for GTOC and SPHD.

Drawdown Indicators

	GTOC	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-2.70%	-41.39%	+38.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.39%	—
Current Drawdown Current decline from peak	-1.42%	-4.24%	+2.82%
Average Drawdown Average peak-to-trough decline	-0.66%	-4.70%	+4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.94%	—

Volatility

Volatility by Period

	GTOC	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	11.10%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.61%	14.17%	-10.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	17.64%	-14.03%

GTOC vs. SPHD - Expense Ratio Comparison

GTOC has a 0.26% expense ratio, which is lower than SPHD's 0.30% expense ratio.

Dividends

GTOC vs. SPHD - Dividend Comparison

GTOC's dividend yield for the trailing twelve months is around 3.64%, less than SPHD's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.57%	4.02%	3.41%	4.48%	3.89%	3.45%	4.89%	4.07%	4.40%	3.14%	3.83%	3.49%

Frequently Asked Questions

Can I hold both GTOC and SPHD in my portfolio?

GTOC and SPHD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GTOC or SPHD?

On fees, GTOC is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GTOC or SPHD?

GTOC is cheaper with a 0.26% expense ratio, compared with 0.30% for SPHD.

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

SPHD has the higher dividend yield at 4.57%, compared with 3.64% for GTOC.

What is the main difference between GTOC and SPHD?

GTOC is categorized as Intermediate Core Bond, while SPHD is Dividend. Their fees differ too: 0.26% for GTOC and 0.30% for SPHD.