GTOQ vs. PHYD
GTOQ (Invesco High Yield Systematic Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. Both are actively managed. Their 0.79 correlation means they have sometimes moved together and sometimes differently. GTOQ charges 0.39%/yr vs 0.55%/yr for PHYD.
Performance
GTOQ vs. PHYD - Performance Comparison
Loading charts...
Returns By Period
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%
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.75K | $50.01K | $1.37M |
GTOQ vs. PHYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 1.80% | 8.04% | 8.13% | 9.69% |
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
Correlation
The correlation between GTOQ and PHYD is 0.77, 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. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.79 |
The correlation between GTOQ and PHYD has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GTOQ vs. PHYD — Risk / Return Rank
GTOQ
PHYD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GTOQ vs. PHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and Putnam ESG High Yield ETF - (PHYD). 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 | PHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.28 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | — | — |
| Martin ratioReturn relative to average drawdown | 7.87 | — | — |
Loading charts...
Drawdowns
GTOQ vs. PHYD - Drawdown Comparison
Loading charts...
Drawdown Indicators
| GTOQ | PHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.35% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.22% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | — | — |
Volatility
GTOQ vs. PHYD - Volatility Comparison
Loading charts...
Volatility by Period
| GTOQ | PHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | — | — |
GTOQ vs. PHYD - Expense Ratio Comparison
GTOQ has a 0.39% expense ratio, which is lower than PHYD's 0.55% expense ratio.
Dividends
GTOQ vs. PHYD - Dividend Comparison
GTOQ's dividend yield for the trailing twelve months is around 6.88%, while PHYD has not paid dividends to shareholders.
| 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% |
PHYD Putnam ESG High Yield ETF - | 8.00% | 6.63% | 6.80% | 6.15% | 0.00% | 0.00% |
Frequently Asked Questions
GTOQ and PHYD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GTOQ is cheaper with a 0.39% expense ratio, compared with 0.55% for PHYD.
PHYD has the higher dividend yield at 8.00%, compared with 6.88% for GTOQ.
They also come from different issuers: Invesco and Putnam. Their fees differ too: 0.39% for GTOQ and 0.55% for PHYD.
Find the right allocation for GTOQ and PHYD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer