GTOS vs PHDG
Invesco Short Duration Total Return Bond ETF vs Invesco S&P 500 Downside Hedged ETF
Quick Verdict
GTOS has a lower expense ratio. PHDG delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | GTOS | PHDG | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.39% | |
| AUM | $122M | $61M | |
| Dividend Yield | 4.55% | 1.68% | |
| Holdings | 1,047 | 514 | |
| YTD Return | -0.70% | +13.13% | |
| 1Y Return | +1.16% | +16.59% | |
| 3Y Return (annualized) | +4.68% | +9.80% | |
| 5Y Return (annualized) | - | +4.73% | |
| Volatility (annualized) | 1.9% | 9.9% | |
| Max Drawdown | -1.8% | -23.6% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 9, 2022 | Dec 5, 2012 |
GTOS vs PHDG Performance
Invesco Short Duration Total Return Bond ETF (GTOS) is a ETF from Invesco (US) and Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US). Over the past year GTOS returned +1.16% while PHDG returned +16.59%. Year to date, GTOS is down 0.70% versus a gain of 13.13% for PHDG.
Over three years, GTOS compounded at +4.68% per year against +9.80% for PHDG. Across the full 4-year window we track, PHDG has the edge at +4.45% annualized vs +4.34%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHDG has been the more volatile fund, with annualized monthly volatility of 9.9% 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 -23.6% for PHDG. 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GTOS charges 0.30% per year while PHDG charges 0.39%. On a $10,000 position that is $30 vs $39 annually, a gap of $9 per year that compounds over a long holding period. On income, GTOS currently yields 4.55% against 1.68% for PHDG.
Holdings Overlap
GTOS and PHDG share 2 holdings out of 786 unique holdings combined, representing a 2.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GTOS or PHDG?
GTOS has an expense ratio of 0.30% while PHDG charges 0.39%. GTOS is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, GTOS or PHDG?
Over the past year GTOS returned +1.16% vs +16.59% for PHDG, so PHDG leads on 1-year performance. Over the longest common window we track (4 years), GTOS annualized +4.34% vs +4.45% for PHDG. Past performance does not guarantee future results.
Which is riskier, GTOS or PHDG?
PHDG has been the more volatile fund at 9.9% annualized versus 1.9% for GTOS. Worst drawdown: GTOS -1.8% vs PHDG -23.6%.
Should I hold both GTOS and PHDG?
GTOS and PHDG have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GTOS and PHDG?
GTOS and PHDG share 2 common holdings with a 2.8% weight overlap. Combined, they hold 786 unique securities.
Which pays a higher dividend, GTOS or PHDG?
GTOS yields 4.55% while PHDG yields 1.68%, so GTOS currently pays the higher dividend yield.
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