GTOQ vs. HYZD
GTOQ (Invesco High Yield Systematic Bond ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds. GTOQ is actively managed, while HYZD is passively managed. Over the past 5 years, GTOQ returned 3.76%/yr vs 6.27%/yr for HYZD. Their 0.47 correlation means their historical movements had little consistent relationship. GTOQ charges 0.39%/yr vs 0.43%/yr for HYZD.
Performance
GTOQ vs. HYZD - Performance Comparison
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Returns By Period
In the year-to-date period, GTOQ achieves a 1.80% return, which is significantly lower than HYZD's 3.50% return.
GTOQ
- 1D
- -0.02%
- 1M
- -0.26%
- 6M
- 1.10%
- YTD
- 1.80%
- 1Y
- 5.40%
- 3Y*
- 8.14%
- 5Y*
- 3.76%
- 10Y*
- —
- ALL TIME*
- 4.19%
HYZD
- 1D
- 0.15%
- 1M
- 0.51%
- 6M
- 2.66%
- YTD
- 3.50%
- 1Y
- 7.45%
- 3Y*
- 8.44%
- 5Y*
- 6.27%
- 10Y*
- 5.36%
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.75K | $50.01K | $1.37M | |
| $1.53M | $1.90M | $1.53M |
GTOQ vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 1.80% | 8.04% | 8.13% | 14.17% | -12.17% | 5.37% | 0.38% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.50% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | 1.39% |
Correlation
The correlation between GTOQ and HYZD is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.47 |
The correlation between GTOQ and HYZD shifts across timeframes, from 0.37 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GTOQ vs. HYZD — Risk / Return Rank
GTOQ
HYZD
GTOQ vs. HYZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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.
| GTOQ | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 3.66 | -1.81 |
| Martin ratioReturn relative to average drawdown | 7.87 | 15.97 | -8.10 |
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Drawdowns
GTOQ vs. HYZD - Drawdown Comparison
The maximum GTOQ drawdown since its inception was -15.96%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for GTOQ and HYZD.
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Drawdown Indicators
| GTOQ | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -25.66% | +9.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -1.91% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -5.85% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -15.96% | -8.97% | -6.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -0.35% | 0.00% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -2.18% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.44% | +0.25% |
Volatility
GTOQ vs. HYZD - Volatility Comparison
Invesco High Yield Systematic Bond ETF (GTOQ) has a higher volatility of 0.76% compared to WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) at 0.44%. This indicates that GTOQ's price experiences larger fluctuations and is considered to be riskier than HYZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTOQ | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.44% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.39% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.01% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 6.69% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 8.50% | -3.04% |
GTOQ vs. HYZD - Expense Ratio Comparison
GTOQ has a 0.39% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
GTOQ vs. HYZD - Dividend Comparison
GTOQ's dividend yield for the trailing twelve months is around 6.88%, more than HYZD's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 6.88% | 7.04% | 7.20% | 6.76% | 6.17% | 4.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.89% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
Frequently Asked Questions
GTOQ and HYZD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTOQ has higher volatility (0.76%) compared to HYZD (0.44%). In terms of maximum drawdown, GTOQ dropped -15.96% vs HYZD's -25.66%.
On 5-year performance, HYZD leads with 6.27% vs 3.76% for GTOQ. On fees, GTOQ is cheaper at 0.39% per year. On volatility, HYZD has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYZD has performed better with a 6.27% return vs 3.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTOQ is cheaper with a 0.39% expense ratio, compared with 0.43% for HYZD.
GTOQ has the higher dividend yield at 6.88%, compared with 5.89% for HYZD.
They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.39% for GTOQ and 0.43% for HYZD.
HYZD currently has the higher Sharpe Ratio (2.32 vs 1.51), 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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