ETF Evaluator:
Invesco Total Return Bond ETF (GTO)
Follow This ETF
(as of Jul 31)
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 10.5% | Infrastructure Capital Bond Income ETF (BNDS) |
| 7.0% | Monarch Ambassador Income ETF (MAMB) |
| 5.2% | PIMCO Active Bond ETF (BOND) |
| 4.8% | Nuveen Core Plus Bond ETF (NCPB) |
| 4.8% | Invesco Total Return Bond ETF (GTO) |
Risk
Index
Risk
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ETF Details
Invesco Total Return Bond ETF Overview
Invesco Total Return Bond ETF (GTO) is an actively managed Taxable Bond Intermediate Core-Plus Bond exchange-traded fund (ETF). Invesco launched the ETF in 2016.
The investment seeks maximum total return, comprised of income and capital appreciation.
The fund will normally invest in a portfolio of fixed income instruments of varying maturities and of any credit quality. It will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income instruments, which may be represented by certain derivative instruments, and also include exchange-traded funds ("ETFs") and closed-end funds ("CEFs") that invest substantially all of their assets in fixed income instruments (which may include ETFs and CEFs affiliated with the fund).
About Invesco Total Return Bond ETF (GTO)
There are 4 members of the management team with an average tenure of 7.51 years: Michael Hyman (2018), Matthew Brill (2018), Todd Schomberg (2021) and Chuck Burge (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Invesco Total Return Bond ETF has 1905 securities in its portfolio. The top 10 holdings constitute 42.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco Total Return Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Invesco Total Return Bond ETF has 16.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 1.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.3% (81.5% domestic bond, 16.7% foreign bond and 0.3% convertible bond). Invesco Total Return Bond ETF has -0.3% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $2 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GTO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Total Return Bond ETF expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Invesco Total Return Bond ETF has an expense ratio of 0.35%, which is 23% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Total Return Bond ETF has a portfolio turnover rate of 629%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 159% for the Intermediate Core-Plus Bond category.
Recently, in the month of June 2026, Invesco Total Return Bond ETF returned 0.2%, which earned it a grade of D, as the Intermediate Core-Plus Bond category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco Total Return Bond ETF has a trailing yield of 4.80%, which is above the 4.56% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco Total Return Bond ETF Grades
Year to date, the ETF has returned 1.0%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 4.8% over the past year (grade of A), 4.9% over the past three years (grade of C) and 0.0% per year over the past five years (grade of F) and 2.9% per year over the past 10 years (grade of B).
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GTO Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GTO Return (NAV) | 0.2% | 1.2% | 4.8% | 4.9% | 0.0% | 2.9% |
| GTO Return (Price) | 0.3% | 1.2% | 4.8% | 4.9% | 0.1% | 2.9% |
| NAV +/- Price Return | -0.064% | -0.065% | -0.022% | -0.013% | -0.012% | -0.037% |
| Intermediate Core-Plus Bond Avg | 0.2% | 1.1% | 4.3% | 5.1% | 0.8% | 2.3% |
| GTO Grade (NAV) | D | A | A | C | F | B |
| +/- Category (NAV) | 0.0% | 0.1% | 0.5% | -0.2% | -0.7% | 0.5% |
| GTO Tax-Cost Ratio | na | na | 1.9% | 1.8% | 1.6% | 1.5% |
GTO Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GTO Return (NAV) | 1.0% | 7.2% | 2.7% | 5.9% | -14.7% | -0.4% | 10.9% | 11.4% | 0.2% | 6.9% | na |
| GTO Return (Price) | 1.1% | 7.2% | 2.6% | 6.0% | -14.8% | -0.4% | 10.9% | 11.7% | -0.3% | 7.4% | na |
| NAV +/- Price Ret | 0.083% | -0.000% | -0.026% | 0.012% | 0.002% | 0.048% | -0.001% | 2.2% | -253.6% | 7.3% | na |
| Intermediate Core-Plus Bond Avg | 0.9% | 7.4% | 2.9% | 6.6% | -13.1% | -0.8% | 8.0% | 9.8% | -0.2% | 4.3% | 4.9% |
| GTO Grade (NAV) | B | D | B | D | F | A | A | A | B | A | na |
| +/- Category | 0.1% | -0.2% | -0.2% | -0.7% | -1.6% | 0.4% | 2.9% | 1.6% | 0.4% | 2.6% | na |
| Risk Measures | |
| Beta: | 1.00 |
| R-Squared: | 98% |
| Standard Deviation: | 5.6% |
| Category Risk Index: | 1.02 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.46 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.8% |
| Total Assets: | $ 2,418 Mil |
| Share Class Assets: | $ 2,418 Mil |
| Turnover: | 629.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.2 years | |||
| Average Tenure: 7.5 years | |||
| Managers (Year): Hyman Michael (2018), Brill Matthew (2018), Burge Chuck (2018), Schomberg Todd (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1905 |
| % in Top 10 Holdings: | 42.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.6% |
| Domestic Bond: | 81.5% |
| Foreign Bond: | 16.7% |
| Convertible Bond: | 0.3% |
| Other: | 0.1% |
| Cash: | -0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | February 10, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.46% |
