GTOH vs SCYB

GTOHBInvesco Short Duration High Yield ETF

SCYBASchwab High Yield Bond ETF

In short

GTOH Most high-yield ETFs are index machines that own whatever the benchmark hands them. GTOH is the active, short-maturity cut: a manager picks roughly 160 junk bonds, keeps maturities short, and pays out monthly.

SCYB Three basis points for the broad US high-yield corporate market. Schwab undercuts a category where the typical fund charges more than ten times as much, spreading the bet across roughly 1,800 bonds and paying monthly.

Stated mandate

GTOH The Fund is an actively managed ETF focused on generating current income through a short-duration high-yield strategy.

SCYB The fund follows a rules-based strategy intended to track the high-yield bond market, primarily through bonds in the Bloomberg Barclays US Corporate High Yield Total Return Index and similar derivatives.

Why people hold it

• GTOH Short maturities are the point: less price swing from rate moves than a long-dated junk portfolio, while still reaching for high-yield income.invesco.com
• Actively managed, so the team picks credits and uses derivatives to steer duration instead of owning the whole index by weight.invesco.com
• Income arrives monthly, not quarterly, and the portfolio has stuck closely to the short-duration high-yield job it advertises since its 2022 launch.

• SCYB 0.03% a year against a category median of 0.40%. Even the cheap rivals sit above it: SPHY at 0.05%, USHY at 0.08%.
• Tracks the same Bloomberg US Corporate High Yield index as BKHY, which charges 0.22%. Same map, cheaper toll.
• Roughly 1,800 bonds, so no single issuer's blowup drives the outcome. Rules-based and passive, and it has hugged its index closely.
• A multi-billion-dollar fund that trades actively and pays monthly, which matters in a corner of the market where getting out cheaply is half the job.

Worth knowing

• GTOH 0.48% net of a waiver through August 31, 2027 (0.49% gross), above the category median. Index peers SCYB (0.03%) and USHY (0.08%) buy the broad market far cheaper.
• A small, lightly traded fund. Spreads can be wider than the giants of the category, so limit orders matter more here.
• Short duration trims rate sensitivity, not credit risk. These are below-investment-grade borrowers, and they can wobble alongside stocks.

• SCYB High yield means below-investment-grade credit. These bonds behave more like stocks than Treasuries when the economy sours, and the extra income is the payment for that risk.
• Launched in 2023, so it has a shorter record than rivals that have traded through more credit cycles.
• The strategy can hold derivatives alongside the bonds themselves to track the index, one layer beyond plain bond ownership.

Full GTOH profile⁠

Full SCYB profile⁠