GTOQ vs. EQLS

Last updated Jun 5, 2026

GTOQ (Invesco High Yield Systematic Bond ETF) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both exchange-traded funds - GTOQ is a High Yield Bonds fund actively managed by Invesco, while EQLS is a Long-Short fund actively managed by Simplify. Both are actively managed. At a correlation of -0.07, they often move in opposite directions. GTOQ charges 0.39%/yr vs 1.00%/yr for EQLS.

Performance

GTOQ vs. EQLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Systematic Bond ETF (GTOQ) and Simplify Market Neutral Equity Long/Short ETF (EQLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GTOQ

• 1D: 0.09%
• 1M: 0.63%
• YTD: 1.57%
• 6M: 2.16%
• 1Y: 6.99%
• 3Y*: 9.02%
• 5Y*: 3.98%
• 10Y*: —

EQLS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GTOQ vs. EQLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GTOQ Invesco High Yield Systematic Bond ETF	1.57%	8.04%	8.13%	8.83%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.63%

Correlation

The correlation between GTOQ and EQLS is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	-0.07

Return for Risk

GTOQ vs. EQLS — Risk / Return Rank

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

GTOQ

GTOQ Risk / Return Rank: 58
GTOQ Sharpe Ratio Rank: 59
GTOQ Sortino Ratio Rank: 63
GTOQ Omega Ratio Rank: 62
GTOQ Calmar Ratio Rank: 49
GTOQ Martin Ratio Rank: 59

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.

GTOQ vs. EQLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and Simplify Market Neutral Equity Long/Short ETF (EQLS). 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.

	GTOQ	EQLS	Difference
Sharpe ratio: Return per unit of total volatility	1.95	—	—
Sortino ratio: Return per unit of downside risk	2.90	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.38	—	—
Martin ratio: Return relative to average drawdown	10.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GTOQ	EQLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	—	—

Drawdowns

Drawdown Indicators

	GTOQ	EQLS	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.95%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	—	—
Current Drawdown Current decline from peak	-0.13%	—	—
Average Drawdown Average peak-to-trough decline	-3.31%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	—	—

Volatility

Volatility by Period

	GTOQ	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.60%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.52%	—	—

GTOQ vs. EQLS - Expense Ratio Comparison

GTOQ has a 0.39% expense ratio, which is lower than EQLS's 1.00% expense ratio.

Dividends

GTOQ vs. EQLS - Dividend Comparison

GTOQ's dividend yield for the trailing twelve months is around 6.80%, while EQLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%
GTOQ Invesco High Yield Systematic Bond ETF	6.80%	7.04%	7.20%	6.76%	6.17%	4.86%

Frequently Asked Questions

Can I hold both GTOQ and EQLS in my portfolio?

GTOQ and EQLS have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GTOQ or EQLS?

On fees, GTOQ is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GTOQ or EQLS?

GTOQ is cheaper with a 0.39% expense ratio, compared with 1.00% for EQLS.

Which ETF pays a higher dividend yield, GTOQ or EQLS?

GTOQ has the higher dividend yield at 6.80%, compared with 0.00% for EQLS.

What is the main difference between GTOQ and EQLS?

GTOQ is categorized as High Yield Bonds, while EQLS is Long-Short. They also come from different issuers: Invesco and Simplify. Their fees differ too: 0.39% for GTOQ and 1.00% for EQLS.