GTOH vs. NHYB
GTOH (Invesco Short Duration High Yield ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. GTOH is actively managed, while NHYB is passively managed. Their correlation of 0.88 suggests significant overlap in exposure. GTOH charges 0.48%/yr vs 0.08%/yr for NHYB.
Performance
GTOH vs. NHYB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GTOH having a 1.89% return and NHYB slightly higher at 1.91%.
GTOH
- 1D
- -0.06%
- 1M
- 0.51%
- YTD
- 1.89%
- 6M
- 2.05%
- 1Y
- 6.36%
- 3Y*
- 8.01%
- 5Y*
- —
- 10Y*
- —
NHYB
- 1D
- -0.04%
- 1M
- 0.52%
- YTD
- 1.91%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GTOH vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GTOH Invesco Short Duration High Yield ETF | 1.89% | 1.24% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.91% | 1.24% |
Correlation
The correlation between GTOH and NHYB is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.88 |
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Return for Risk
GTOH vs. NHYB — Risk / Return Rank
GTOH
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GTOH vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration High Yield ETF (GTOH) and Nuveen High Yield Corporate Bond ETF (NHYB). 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.
| GTOH | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.40 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | — | — |
| Martin ratioReturn relative to average drawdown | 13.64 | — | — |
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Drawdowns
GTOH vs. NHYB - Drawdown Comparison
The maximum GTOH drawdown since its inception was -4.77%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for GTOH and NHYB.
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Drawdown Indicators
| GTOH | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.77% | -2.40% | -2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.29% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.13% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.20% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -0.36% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | — | — |
Volatility
GTOH vs. NHYB - Volatility Comparison
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Volatility by Period
| GTOH | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 3.64% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 3.64% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 3.64% | +0.81% |
GTOH vs. NHYB - Expense Ratio Comparison
GTOH has a 0.48% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
GTOH vs. NHYB - Dividend Comparison
GTOH's dividend yield for the trailing twelve months is around 6.20%, more than NHYB's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GTOH Invesco Short Duration High Yield ETF | 6.20% | 6.57% | 6.81% | 6.81% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.25% | 1.28% | 0.00% | 0.00% |
Frequently Asked Questions
GTOH and NHYB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.48% for GTOH.
GTOH has the higher dividend yield at 6.20%, compared with 4.25% for NHYB.
They also come from different issuers: Invesco and Nuveen. Their fees differ too: 0.48% for GTOH and 0.08% for NHYB.
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