MAMB vs. GTO

Last updated Jun 4, 2026

MAMB (Monarch Ambassador Income ETF) and GTO (Invesco Total Return Bond ETF) are both Intermediate Core-Plus Bond funds. MAMB is passively managed, while GTO is actively managed. Over the past 5 years, MAMB returned 0.72%/yr vs 0.07%/yr for GTO. Their correlation of 0.86 suggests significant overlap in exposure. MAMB charges 1.49%/yr vs 0.35%/yr for GTO.

Performance

MAMB vs. GTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Ambassador Income ETF (MAMB) and Invesco Total Return Bond ETF (GTO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAMB achieves a 2.01% return, which is significantly higher than GTO's 0.68% return.

MAMB

• 1D: -0.26%
• 1M: 0.63%
• YTD: 2.01%
• 6M: 1.90%
• 1Y: 9.37%
• 3Y*: 5.37%
• 5Y*: 0.72%
• 10Y*: —

GTO

• 1D: -0.15%
• 1M: 0.49%
• YTD: 0.68%
• 6M: 0.69%
• 1Y: 6.41%
• 3Y*: 4.86%
• 5Y*: 0.07%
• 10Y*: 2.93%

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

MAMB vs. GTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAMB Monarch Ambassador Income ETF	2.01%	10.69%	1.32%	4.90%	-13.02%	1.46%
GTO Invesco Total Return Bond ETF	0.68%	7.17%	2.63%	5.95%	-14.77%	1.87%

Correlation

The correlation between MAMB and GTO is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.86

The correlation between MAMB and GTO has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

MAMB vs. GTO - Sectors Allocation Comparison

Sectors	MAMB	GTO
Financial Services	100.0%	13.5%
Utilities	70.8%	2.8%
Healthcare	19.5%	13.6%
Industrials	8.5%	8.8%
Consumer Cyclical	1.1%	12.5%
Communication Services	0.2%	10.8%
Basic Materials	-	2.3%
Consumer Defensive	-	7.0%
Energy	-	2.3%
Real Estate	-	2.4%
Technology	-	24.2%

Return for Risk

MAMB vs. GTO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAMB

MAMB Risk / Return Rank: 48
MAMB Sharpe Ratio Rank: 48
MAMB Sortino Ratio Rank: 47
MAMB Omega Ratio Rank: 47
MAMB Calmar Ratio Rank: 53
MAMB Martin Ratio Rank: 46

GTO

GTO Risk / Return Rank: 53
GTO Sharpe Ratio Rank: 55
GTO Sortino Ratio Rank: 59
GTO Omega Ratio Rank: 56
GTO Calmar Ratio Rank: 47
GTO Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MAMB vs. GTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Ambassador Income ETF (MAMB) and Invesco Total Return Bond ETF (GTO). 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.

	MAMB	GTO	Difference
Sharpe ratio Return per unit of total volatility	1.66	1.88	-0.22
Sortino ratio Return per unit of downside risk	2.33	2.80	-0.48
Omega ratio Gain probability vs. loss probability	1.29	1.35	-0.05
Calmar ratio Return relative to maximum drawdown	2.65	2.36	+0.29
Martin ratio Return relative to average drawdown	7.49	7.50	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAMB vs. GTO - Sharpe Ratio Comparison

The current MAMB Sharpe Ratio is 1.66, which is comparable to the GTO Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MAMB and GTO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MAMB	GTO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.88	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.01	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.52	-0.36

Drawdowns

MAMB vs. GTO - Drawdown Comparison

The maximum MAMB drawdown since its inception was -19.33%, smaller than the maximum GTO drawdown of -20.61%. Use the drawdown chart below to compare losses from any high point for MAMB and GTO.

Drawdown Indicators

	MAMB	GTO	Difference
Max Drawdown Largest peak-to-trough decline	-19.33%	-20.61%	+1.28%
Max Drawdown (1Y) Largest decline over 1 year	-3.55%	-2.73%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-7.38%	-5.98%	-1.40%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-20.61%	+1.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.61%	—
Current Drawdown Current decline from peak	-1.65%	-1.62%	-0.03%
Average Drawdown Average peak-to-trough decline	-7.50%	-4.80%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	0.86%	+0.39%

Volatility

MAMB vs. GTO - Volatility Comparison

Monarch Ambassador Income ETF (MAMB) has a higher volatility of 1.72% compared to Invesco Total Return Bond ETF (GTO) at 1.19%. This indicates that MAMB's price experiences larger fluctuations and is considered to be riskier than GTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAMB	GTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.19%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	4.21%	2.50%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	5.67%	3.43%	+2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.99%	5.68%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.91%	5.58%	+1.33%

MAMB vs. GTO - Expense Ratio Comparison

MAMB has a 1.49% expense ratio, which is higher than GTO's 0.35% expense ratio.

Dividends

MAMB vs. GTO - Dividend Comparison

MAMB's dividend yield for the trailing twelve months is around 2.44%, less than GTO's 4.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GTO Invesco Total Return Bond ETF	4.76%	4.70%	4.42%	4.05%	3.47%	1.93%	4.04%	2.97%	5.25%	2.81%	2.57%
MAMB Monarch Ambassador Income ETF	2.44%	2.47%	2.11%	1.73%	0.92%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAMB and GTO in my portfolio?

MAMB and GTO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAMB or GTO?

MAMB has higher volatility (1.72%) compared to GTO (1.19%). In terms of maximum drawdown, MAMB dropped -19.33% vs GTO's -20.61%.

Which ETF is better, MAMB or GTO?

On 5-year performance, MAMB leads with 0.72% vs 0.07% for GTO. On fees, GTO is cheaper at 0.35% per year. On volatility, GTO has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAMB or GTO?

Over the 5-year period, MAMB has performed better with a 0.72% return vs 0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAMB or GTO?

GTO is cheaper with a 0.35% expense ratio, compared with 1.49% for MAMB.

Which ETF pays a higher dividend yield, MAMB or GTO?

GTO has the higher dividend yield at 4.76%, compared with 2.44% for MAMB.

What is the main difference between MAMB and GTO?

They also come from different issuers: Monarch and Invesco. Their fees differ too: 1.49% for MAMB and 0.35% for GTO.

Which has better risk-adjusted returns?

GTO currently has the higher Sharpe Ratio (1.88 vs 1.66), 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.