Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Invesco Short Duration Total Return Bond ETF
$24.670.00 (0.00%)
- 0.31%
- $125M
- +2.7%
- 4.52%
- 0M sh
- $24.67
- low $24.59high $25.27
The ETF.net GTOS Grade
B
Score 60 out of 100
- 59 of 117
Score 60 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C53 out of 100Rank 53 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.C49 out of 100Rank 96 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A93 out of 100Rank 1 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 68 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A86 out of 100Rank 7 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C47 out of 100Rank 72 of 117
Our read on GTOS
BMost of the aggregate-bond aisle buys the whole market and rides the entire rate curve. GTOS stays deliberately short, targeting one-to-three-year duration, and can reach into high yield for income. A picked portfolio, not an index clone.
The Fund seeks total return from income and capital appreciation. It invests at least 80% of net assets in fixed income securities, including high yield bonds, and aims for portfolio maturity and duration between one and three years.
Why people hold it
- Duration is kept tight: the mandate targets portfolio maturity and duration of one to three years, so rate moves move the price far less than in long-dated bond funds.invesco.com
- A 0.31% expense ratio undercuts the typical fund in its bond-fund cohort, which is unusual for a portfolio that is selected rather than tracking a published index.
- Wide net: roughly 700 bond positions, at least 80% of net assets in fixed income, and cash paid out monthly rather than quarterly.
Worth knowing
- Thinly traded with a modest asset base, so spreads can run wider than the household-name index bond funds. Order type matters more here.
- The core index heavyweights (BND, SPAB, SCHZ) charge 0.03%. GTOS costs meaningfully more, the price of an actively run short-duration book.
- The mandate permits high yield bonds, which carry more credit risk than a Treasury-only short-duration portfolio. Launched in 2022, so the record is short.
GTOS Holdings
- Bonds
- 764
- 13%
- United States Treasury Note/Bond 5.00% 09/30/2031
Sectors
- Financials69.5%
- Communication30.5%
Geography
- United States76.04%
- Japan4.28%
- United Kingdom3.57%
- Spain2.22%
- France1.65%
- Netherlands1.62%
- Canada1.56%
- Switzerland1.38%
- 7.68%
GTOS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
GTOS$10,268
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GTOS |
|---|---|
| Year to date | +1.3% |
| 1 month | 0.0% |
| 3 months | +0.1% |
| 1 year | +2.7% |
| 3 years | +5.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GTOS |
|---|---|---|
| 2026 YTD | +1.3% | |
| 2025 | +6.2% | |
| 2024 | +5.4% | |
| 2023 | +5.6% | |
| 2022 | −0.3% |
GTOS in the news
GTOS Dividends
- 4.52%
- $1.11
- $0.10 per share
- Monthly
Distribution history
GTOS Risk
- 1.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.44
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −1.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.07
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GTOS Cost
0.31%
GTOS0.31%
- The middle half of US Aggregate Bond funds
- Median 0.34%
50 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BTOTRT. Rowe Price Total Return ETFExpense ratio 0.31%1 year return −1.8%
- BVCOBVoya Core Bond ETFExpense ratio 0.25%1 year return —
- BUBNDVictoryShares Core Plus Bond ETFExpense ratio 0.45%1 year return −1.7%
- BAPCBActivePassive Core Bond ETFExpense ratio 0.36%1 year return −1.7%
- BCPAGF/m Compoundr U.S. Aggregate Bond ETFExpense ratio 0.31%1 year return −2.7%