GTOS vs NMI
Invesco Short Duration Total Return Bond ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
GTOS has a lower expense ratio. NMI delivered stronger 1-year returns. GTOS offers more diversification with 703 holdings.
Side-by-Side Comparison
| Metric | GTOS | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.73% | |
| AUM | $124M | - | |
| Dividend Yield | 4.52% | 4.65% | |
| Holdings | 703 | 220 | |
| YTD Return | -0.70% | +8.00% | |
| 1Y Return | +1.20% | +11.54% | |
| 3Y Return (annualized) | +4.69% | +8.79% | |
| 5Y Return (annualized) | - | +1.52% | |
| Volatility (annualized) | 1.9% | 11.0% | |
| Max Drawdown | -1.8% | -34.4% | |
| Fund Family | Invesco (US) | Nuveen | |
| Category | Fixed Income | Tax Preferred | |
| Inception | Dec 9, 2022 | Apr 20, 1988 |
GTOS vs NMI Performance
Invesco Short Duration Total Return Bond ETF (GTOS) is a ETF from Invesco (US) and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year GTOS returned +1.20% while NMI returned +11.54%. Year to date, GTOS is down 0.70% versus a gain of 8.00% for NMI.
Over three years, GTOS compounded at +4.69% per year against +8.79% for NMI. Across the full 4-year window we track, GTOS has the edge at +4.33% annualized vs +0.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMI has been the more volatile fund, with annualized monthly volatility of 11.0% compared with 1.9% for GTOS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -1.8% for GTOS and -34.4% for NMI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.37. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GTOS charges 0.30% per year while NMI charges 0.73%. On a $10,000 position that is $30 vs $73 annually, a gap of $43 per year that compounds over a long holding period. On income, GTOS currently yields 4.52% against 4.65% for NMI.
Holdings Overlap
GTOS and NMI share 0 holdings out of 354 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GTOS or NMI?
GTOS has an expense ratio of 0.30% while NMI charges 0.73%. GTOS is the cheaper option. On a $10,000 investment, that is $43 per year of difference.
Which performed better, GTOS or NMI?
Over the past year GTOS returned +1.20% vs +11.54% for NMI, so NMI leads on 1-year performance. Over the longest common window we track (4 years), GTOS annualized +4.33% vs +0.28% for NMI. Past performance does not guarantee future results.
Which is riskier, GTOS or NMI?
NMI has been the more volatile fund at 11.0% annualized versus 1.9% for GTOS. Worst drawdown: GTOS -1.8% vs NMI -34.4%.
Should I hold both GTOS and NMI?
GTOS and NMI have a monthly-return correlation of 0.37, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GTOS and NMI?
GTOS and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 354 unique securities.
Which pays a higher dividend, GTOS or NMI?
GTOS yields 4.52% while NMI yields 4.65%, so NMI currently pays the higher dividend yield.
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