GTOQ vs. HYLB
GTOQ (Invesco High Yield Systematic Bond ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. GTOQ is actively managed, while HYLB is passively managed. Over the past 5 years, GTOQ returned 3.98%/yr vs 4.06%/yr for HYLB. A 0.75 correlation means they provide meaningful diversification when combined. GTOQ charges 0.39%/yr vs 0.15%/yr for HYLB.
Performance
GTOQ vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, GTOQ achieves a 1.57% return, which is significantly lower than HYLB's 1.65% return.
GTOQ
- 1D
- 0.09%
- 1M
- 0.63%
- YTD
- 1.57%
- 6M
- 2.16%
- 1Y
- 6.99%
- 3Y*
- 9.02%
- 5Y*
- 3.98%
- 10Y*
- —
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
GTOQ vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 1.57% | 8.04% | 8.13% | 14.17% | -12.17% | 5.37% | 0.38% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 1.32% |
Correlation
The correlation between GTOQ and HYLB is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.75 |
The correlation between GTOQ and HYLB shifts across timeframes, from 0.75 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GTOQ vs. HYLB — Risk / Return Rank
GTOQ
HYLB
GTOQ vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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 | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.00 | -0.62 |
| Martin ratioReturn relative to average drawdown | 10.21 | 12.90 | -2.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GTOQ | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 1.84 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.55 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.58 | +0.19 |
Drawdowns
GTOQ vs. HYLB - Drawdown Comparison
The maximum GTOQ drawdown since its inception was -15.96%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for GTOQ and HYLB.
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Drawdown Indicators
| GTOQ | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -22.91% | +6.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -2.27% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -4.51% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -15.96% | -15.54% | -0.42% |
Current DrawdownCurrent decline from peak | -0.13% | -0.09% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -2.43% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.53% | +0.16% |
Volatility
GTOQ vs. HYLB - Volatility Comparison
The current volatility for Invesco High Yield Systematic Bond ETF (GTOQ) is 0.97%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.19%. This indicates that GTOQ experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTOQ | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.19% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.92% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 3.70% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 7.47% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 8.18% | -2.66% |
GTOQ vs. HYLB - Expense Ratio Comparison
GTOQ has a 0.39% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
GTOQ vs. HYLB - Dividend Comparison
GTOQ's dividend yield for the trailing twelve months is around 6.80%, more than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 6.80% | 7.04% | 7.20% | 6.76% | 6.17% | 4.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.48% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% |
Frequently Asked Questions
GTOQ and HYLB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYLB has higher volatility (1.19%) compared to GTOQ (0.97%). In terms of maximum drawdown, GTOQ dropped -15.96% vs HYLB's -22.91%.
On 5-year performance, HYLB leads with 4.06% vs 3.98% for GTOQ. On fees, HYLB is cheaper at 0.15% per year. On volatility, GTOQ has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLB has performed better with a 4.06% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.39% for GTOQ.
GTOQ has the higher dividend yield at 6.80%, compared with 6.48% for HYLB.
They also come from different issuers: Invesco and DWS. Their fees differ too: 0.39% for GTOQ and 0.15% for HYLB.
GTOQ currently has the higher Sharpe Ratio (1.95 vs 1.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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