Data as of Oct 28, 2026.
GTO vs SMTH: Differences, Returns & Fees
GTO's duration was 5.7 years on Jul 31, 2026 and SMTH's 6.2 on May 31, 2026; GTO charges 0.35% to SMTH's 0.59%.
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Net assets: $2.6bn on Oct 27, 2026 for Invesco Total Return Bond ETF, and $2.7bn on May 31, 2026 for ALPS Smith Core Plus Bond ETF.
Pair scorecard
GTO costs 0.24 points a year less; their one-year returns differ by 0.3 points.
| Measure | GTO | SMTH |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.4% | −1.7% |
| Drawdown | ||
| Below its high | 3.4%, high on Sep 14, 2021 | |
| Benchmark | ||
| What it tracks | No index, actively managed | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.35% | 0.59% |
| Net assets, GTO as of Oct 27, 2026 and SMTH as of May 31, 2026 | $2.6bn | $2.7bn |
| Holdings | ||
| Holdings in common | 5% | |
Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method
Risk and return
Dec 15, 2023 to Oct 23, 2026 · 149 weekly returns · each against AGGGTO returned slightly more: +9.4% to +9.1%. SMTH swung slightly less: 4.6% to 4.8%. GTO fell slightly less at its worst: −4.4% to −4.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GTO | SMTH | AGG | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +9.4% | +9.1% | GTO (slight) | Price change plus distributions, reinvested. | |
| Annualized | +3.2% | +3.1% | GTO (slight) | Total return as a yearly rate. | |
| Price return | −4.4% | −4.1% | SMTH (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 4.8% | 4.6% | SMTH (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 3.6% | 3.4% | SMTH (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −4.4% | −4.6% | GTO (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 99.2% | 96.9% | 100.0% | GTO (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 96.6% | 94.8% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.98 | 0.93 | 1.00 | SMTH lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.97 | 0.97 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | −0.24 | −0.28 | GTO | Return above Treasury bills per unit of volatility. | |
| Sortino | −0.32 | −0.37 | GTO | Return above Treasury bills per unit of downside deviation. | |
| Treynor | −0.012 | −0.014 | −0.016 | GTO | Return above Treasury bills per unit of beta. |
| Calmar | 0.72 | 0.67 | GTO (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | AGG | AGG | AGG | The ETF each fund is measured against. | |
| Alpha | +0.4% a year | +0.2% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.76 | 0.37 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.6% to +1.3% | −0.8% to +1.2% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.49 | 0.32 | GTO | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.8% | 0.9% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 149 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GTO and SMTH hold 5% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.
half
5% in common
Only in one fund ↓
Side by side
GTO and SMTH on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GTO and SMTH are built for the same job. How do they differ in cost, holdings and results?
- Holdings in common. 5% of the weight is in the same securities (holdings dated Jul 31, 2026 and May 31, 2026).
- Cost. GTO charges 0.35% of assets a year and SMTH 0.59%, a gap of 0.24 points.
- What each follows (similar). Both follow No index, actively managed.
Data as of Oct 28, 2026.
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GTO
GTO is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −1.4% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.35% a year. It sat 3.4% below its high of Sep 14, 2021 on Oct 28, 2026.
SMTH
SMTH is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −1.7% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.59% a year.
Questions people ask
- Which returned more over the last year, GTO or SMTH?
- In the year to Oct 28, 2026, with distributions reinvested, GTO returned −1.4% and SMTH −1.7%.
- Which is cheaper, GTO or SMTH?
- GTO is cheaper, by 0.24 percentage points a year. That is about $24 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, GTO against SMTH, data as of Oct 28, 2026. https://etfiq.com/compare/any/gto-vs-smth
ETFIQ. (Oct 28, 2026). GTO against SMTH. Retrieved from https://etfiq.com/compare/any/gto-vs-smth
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