GTOQ vs. SCYB

Last updated Aug 2, 2026

GTOQ (Invesco High Yield Systematic Bond ETF) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds. GTOQ is actively managed, while SCYB is passively managed. Over the past 3 years, GTOQ returned 8.14%/yr vs 8.22%/yr for SCYB. Their 0.79 correlation means they have sometimes moved together and sometimes differently. GTOQ charges 0.39%/yr vs 0.03%/yr for SCYB.

Performance

GTOQ vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Systematic Bond ETF (GTOQ) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GTOQ having a 1.80% return and SCYB slightly higher at 1.87%.

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%

SCYB

• 1D: 0.08%
• 1M: -0.27%
• 6M: 1.11%
• YTD: 1.87%
• 1Y: 5.41%
• 3Y*: 8.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.43%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GTOQ Invesco High Yield Systematic Bond ETF	$55.75K	$50.01K	$1.37M
SCYB Schwab High Yield Bond ETF	$27.25M	$28.58M	$31.43M

GTOQ vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GTOQ Invesco High Yield Systematic Bond ETF	1.80%	8.04%	8.13%	8.11%
SCYB Schwab High Yield Bond ETF	1.87%	8.33%	8.15%	7.29%

Correlation

The correlation between GTOQ and SCYB is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	0.79

The correlation between GTOQ and SCYB has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

GTOQ vs. SCYB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GTOQ

GTOQ Risk / Return Rank: 63
GTOQ Sharpe Ratio Rank: 64
GTOQ Sortino Ratio Rank: 67
GTOQ Omega Ratio Rank: 66
GTOQ Calmar Ratio Rank: 51
GTOQ Martin Ratio Rank: 64

SCYB

SCYB Risk / Return Rank: 67
SCYB Sharpe Ratio Rank: 62
SCYB Sortino Ratio Rank: 66
SCYB Omega Ratio Rank: 66
SCYB Calmar Ratio Rank: 64
SCYB Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GTOQ vs. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) and Schwab High Yield Bond ETF (SCYB). 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	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.44	+0.06
Sortino ratio: Return per unit of downside risk	2.23	2.17	+0.06
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	1.84	2.21	-0.37
Martin ratio: Return relative to average drawdown	7.87	9.67	-1.80

GTOQ vs. SCYB - Sharpe Ratio Comparison

The current GTOQ Sharpe Ratio is 1.51, which is comparable to the SCYB Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of GTOQ and SCYB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GTOQ vs. SCYB - Drawdown Comparison

The maximum GTOQ drawdown since its inception was -15.96%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for GTOQ and SCYB.

Drawdown Indicators

	GTOQ	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-4.92%	-11.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.95%	-2.44%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-5.25%	-4.92%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.46%	+0.11%
Average Drawdown Average peak-to-trough decline	-3.22%	-0.50%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.56%	+0.13%

Volatility

GTOQ vs. SCYB - Volatility Comparison

Invesco High Yield Systematic Bond ETF (GTOQ) and Schwab High Yield Bond ETF (SCYB) have volatilities of 0.76% and 0.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTOQ	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	0.74%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	3.04%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	3.75%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.72%	5.04%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.46%	5.04%	+0.42%

GTOQ vs. SCYB - Expense Ratio Comparison

GTOQ has a 0.39% expense ratio, which is higher than SCYB's 0.03% expense ratio.

Dividends

GTOQ vs. SCYB - Dividend Comparison

GTOQ's dividend yield for the trailing twelve months is around 6.88%, which matches SCYB's 6.94% 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%
SCYB Schwab High Yield Bond ETF	6.31%	6.99%	7.06%	3.36%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTOQ and SCYB in my portfolio?

GTOQ and SCYB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTOQ or SCYB?

GTOQ has higher volatility (0.76%) compared to SCYB (0.74%). In terms of maximum drawdown, GTOQ dropped -15.96% vs SCYB's -4.92%.

Which ETF is better, GTOQ or SCYB?

On 3-year performance, SCYB leads with 8.22% vs 8.14% for GTOQ. On fees, SCYB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GTOQ or SCYB?

Over the 3-year period, SCYB has performed better with a 8.22% return vs 8.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GTOQ or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.39% for GTOQ.

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

GTOQ has the higher dividend yield at 6.88%, compared with 6.31% for SCYB.

What is the main difference between GTOQ and SCYB?

They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.39% for GTOQ and 0.03% for SCYB.

Which has better risk-adjusted returns?

GTOQ currently has the higher Sharpe Ratio (1.51 vs 1.44), 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.