GTOQ vs. IBHH
GTOQ (Invesco High Yield Systematic Bond ETF) and IBHH (iShares iBonds 2028 Term High Yield and Income ETF) are both High Yield Bonds funds. GTOQ is actively managed, while IBHH is passively managed. Over the past 3 years, GTOQ returned 8.14%/yr vs 8.21%/yr for IBHH. Their 0.75 correlation means they have sometimes moved together and sometimes differently. GTOQ charges 0.39%/yr vs 0.35%/yr for IBHH.
Performance
GTOQ vs. IBHH - 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 IBHH's 2.18% 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%
IBHH
- 1D
- -0.09%
- 1M
- 0.08%
- 6M
- 1.69%
- YTD
- 2.18%
- 1Y
- 5.22%
- 3Y*
- 8.21%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.75K | $50.01K | $1.37M | |
| $2.03M | $2.31M | $2.52M |
GTOQ vs. IBHH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 1.80% | 8.04% | 8.13% | 14.17% | -7.93% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2.18% | 8.02% | 7.53% | 12.87% | -6.70% |
Correlation
The correlation between GTOQ and IBHH is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.75 |
The correlation between GTOQ and IBHH has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
GTOQ vs. IBHH — Risk / Return Rank
GTOQ
IBHH
GTOQ vs. IBHH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and iShares iBonds 2028 Term High Yield and Income ETF (IBHH). 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 | IBHH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 4.31 | -2.46 |
| Martin ratioReturn relative to average drawdown | 7.87 | 17.21 | -9.34 |
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Drawdowns
GTOQ vs. IBHH - Drawdown Comparison
The maximum GTOQ drawdown since its inception was -15.96%, which is greater than IBHH's maximum drawdown of -12.05%. Use the drawdown chart below to compare losses from any high point for GTOQ and IBHH.
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Drawdown Indicators
| GTOQ | IBHH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -12.05% | -3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -1.22% | -1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -4.66% | -0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -15.96% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.09% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -2.22% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.31% | +0.38% |
Volatility
GTOQ vs. IBHH - Volatility Comparison
Invesco High Yield Systematic Bond ETF (GTOQ) has a higher volatility of 0.76% compared to iShares iBonds 2028 Term High Yield and Income ETF (IBHH) at 0.63%. This indicates that GTOQ's price experiences larger fluctuations and is considered to be riskier than IBHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTOQ | IBHH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.63% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.14% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 2.74% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 7.14% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 7.14% | -1.68% |
GTOQ vs. IBHH - Expense Ratio Comparison
GTOQ has a 0.39% expense ratio, which is higher than IBHH's 0.35% expense ratio.
Dividends
GTOQ vs. IBHH - Dividend Comparison
GTOQ's dividend yield for the trailing twelve months is around 6.88%, more than IBHH's 6.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 6.88% | 7.04% | 7.20% | 6.76% | 6.17% | 4.86% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 5.68% | 6.39% | 6.93% | 6.65% | 5.36% | 0.00% |
Frequently Asked Questions
GTOQ and IBHH have a correlation of 0.76, 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 IBHH (0.63%). In terms of maximum drawdown, GTOQ dropped -15.96% vs IBHH's -12.05%.
On 3-year performance, IBHH leads with 8.21% vs 8.14% for GTOQ. On fees, IBHH is cheaper at 0.35% per year. On volatility, IBHH has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBHH has performed better with a 8.21% return vs 8.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHH is cheaper with a 0.35% expense ratio, compared with 0.39% for GTOQ.
GTOQ has the higher dividend yield at 6.88%, compared with 5.68% for IBHH.
They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for GTOQ and 0.35% for IBHH.
IBHH currently has the higher Sharpe Ratio (1.93 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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