IPKW vs. BKIE

Last updated Jun 24, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and BKIE (BNY Mellon International Equity ETF) are both exchange-traded funds - IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index, while BKIE is a Foreign Large Cap Equities fund tracking the Morningstar Developed Markets ex-US Large Cap Index. Both are passively managed. Over the past 5 years, IPKW returned 9.02%/yr vs 9.19%/yr for BKIE. Their correlation of 0.88 suggests significant overlap in exposure. IPKW charges 0.55%/yr vs 0.04%/yr for BKIE.

Performance

IPKW vs. BKIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International BuyBack Achievers™ ETF (IPKW) and BNY Mellon International Equity ETF (BKIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPKW achieves a 3.20% return, which is significantly lower than BKIE's 8.20% return.

IPKW

• 1D: -1.58%
• 1M: -3.12%
• YTD: 3.20%
• 6M: 3.35%
• 1Y: 21.92%
• 3Y*: 22.84%
• 5Y*: 9.02%
• 10Y*: 11.86%

BKIE

• 1D: -1.71%
• 1M: 0.06%
• YTD: 8.20%
• 6M: 7.80%
• 1Y: 22.90%
• 3Y*: 17.32%
• 5Y*: 9.19%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IPKW vs. BKIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IPKW Invesco International BuyBack Achievers™ ETF	3.20%	45.50%	10.56%	15.12%	-12.81%	11.41%	57.80%
BKIE BNY Mellon International Equity ETF	8.20%	32.08%	4.63%	18.25%	-13.60%	13.75%	34.17%

Correlation

The correlation between IPKW and BKIE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.88

The correlation between IPKW and BKIE has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

IPKW vs. BKIE - Sectors Allocation Comparison

Sectors	IPKW	BKIE
Financial Services	35.1%	25.9%
Consumer Cyclical	17.7%	7.4%
Energy	17.4%	5.5%
Industrials	11.8%	18.2%
Communication Services	5.4%	4.4%
Technology	3.8%	10.9%
Utilities	3.3%	3.5%
Basic Materials	3.0%	7.3%
Healthcare	1.0%	8.9%
Real Estate	1.0%	1.9%
Consumer Defensive	0.4%	6.2%

Return for Risk

IPKW vs. BKIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IPKW

IPKW Risk / Return Rank: 47
IPKW Sharpe Ratio Rank: 45
IPKW Sortino Ratio Rank: 45
IPKW Omega Ratio Rank: 44
IPKW Calmar Ratio Rank: 52
IPKW Martin Ratio Rank: 49

BKIE

BKIE Risk / Return Rank: 45
BKIE Sharpe Ratio Rank: 45
BKIE Sortino Ratio Rank: 45
BKIE Omega Ratio Rank: 44
BKIE Calmar Ratio Rank: 42
BKIE Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IPKW vs. BKIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and BNY Mellon International Equity ETF (BKIE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IPKW	BKIE	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.52	-0.02
Sortino ratio: Return per unit of downside risk	2.14	2.17	-0.03
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	2.41	2.02	+0.39
Martin ratio: Return relative to average drawdown	7.94	7.76	+0.18

IPKW vs. BKIE - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.50, which is comparable to the BKIE Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of IPKW and BKIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPKW vs. BKIE - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, which is greater than BKIE's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for IPKW and BKIE.

Drawdown Indicators

	IPKW	BKIE	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-28.19%	-19.05%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-11.41%	+2.27%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-13.19%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-32.56%	-28.19%	-4.37%
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	—	—
Current Drawdown Current decline from peak	-5.09%	-1.87%	-3.22%
Average Drawdown Average peak-to-trough decline	-8.97%	-4.94%	-4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.96%	-0.19%

Volatility

IPKW vs. BKIE - Volatility Comparison

The current volatility for Invesco International BuyBack Achievers™ ETF (IPKW) is 4.36%, while BNY Mellon International Equity ETF (BKIE) has a volatility of 4.96%. This indicates that IPKW experiences smaller price fluctuations and is considered to be less risky than BKIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	BKIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.96%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	12.84%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	15.14%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.05%	16.21%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.79%	16.37%	+1.42%

IPKW vs. BKIE - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is higher than BKIE's 0.04% expense ratio.

Dividends

IPKW vs. BKIE - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.63%, more than BKIE's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKIE BNY Mellon International Equity ETF	3.27%	3.12%	3.31%	2.88%	2.97%	2.58%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%
IPKW Invesco International BuyBack Achievers™ ETF	3.63%	3.55%	4.12%	2.66%	3.77%	7.37%	1.45%	2.41%	2.61%	0.93%	2.82%	1.31%

Frequently Asked Questions

Can I hold both IPKW and BKIE in my portfolio?

IPKW and BKIE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPKW or BKIE?

BKIE has higher volatility (4.96%) compared to IPKW (4.36%). In terms of maximum drawdown, IPKW dropped -47.24% vs BKIE's -28.19%.

Which ETF is better, IPKW or BKIE?

On 5-year performance, BKIE leads with 9.19% vs 9.02% for IPKW. On fees, BKIE is cheaper at 0.04% per year. On volatility, IPKW has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPKW or BKIE?

Over the 5-year period, BKIE has performed better with a 9.19% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or BKIE?

BKIE is cheaper with a 0.04% expense ratio, compared with 0.55% for IPKW.

Which ETF pays a higher dividend yield, IPKW or BKIE?

IPKW has the higher dividend yield at 3.63%, compared with 3.27% for BKIE.

What is the main difference between IPKW and BKIE?

IPKW is categorized as Global Equities, while BKIE is Foreign Large Cap Equities. IPKW tracks NASDAQ International BuyBack Achievers Index, while BKIE tracks Morningstar Developed Markets ex-US Large Cap Index. They also come from different issuers: Invesco and BNY Mellon. Their fees differ too: 0.55% for IPKW and 0.04% for BKIE.

Which has better risk-adjusted returns?

BKIE currently has the higher Sharpe Ratio (1.52 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.