IPKW vs. BOAT

Last updated Aug 6, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - IPKW is a Foreign Large Cap Equities fund tracking the NASDAQ International BuyBack Achievers Index, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 5 years, IPKW returned 11.23%/yr vs 24.02%/yr for BOAT. Their 0.55 correlation means they have sometimes moved together and sometimes differently. IPKW charges 0.55%/yr vs 0.69%/yr for BOAT.

Performance

IPKW vs. BOAT - Performance Comparison

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

Returns By Period

In the year-to-date period, IPKW achieves a 11.70% return, which is significantly lower than BOAT's 42.13% return.

IPKW

• 1D: -0.33%
• 1M: 4.57%
• 6M: 4.94%
• YTD: 11.70%
• 1Y: 26.57%
• 3Y*: 24.50%
• 5Y*: 11.23%
• 10Y*: 11.91%
• ALL TIME*: 10.66%

BOAT

• 1D: -1.60%
• 1M: 8.65%
• 6M: 25.47%
• YTD: 42.13%
• 1Y: 50.36%
• 3Y*: 26.08%
• 5Y*: 24.02%
• 10Y*: —
• ALL TIME*: 24.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOAT SonicShares Global Shipping ETF	$1.73M	$1.10M	$1.06M
IPKW Invesco International BuyBack Achievers™ ETF	$2.41M	$2.05M	$2.20M

IPKW vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IPKW Invesco International BuyBack Achievers™ ETF	11.70%	45.50%	10.56%	15.12%	-12.81%	-6.13%
BOAT SonicShares Global Shipping ETF	42.13%	22.77%	5.97%	24.53%	6.26%	21.24%

Correlation

The correlation between IPKW and BOAT is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.54
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.55

The correlation between IPKW and BOAT shifts across timeframes, from 0.42 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

IPKW vs. BOAT - Sectors Allocation Comparison

Sectors	IPKW	BOAT
Financial Services	36.7%	6.6%
Consumer Cyclical	18.1%	-
Energy	16.1%	10.3%
Industrials	12.0%	29.2%
Communication Services	4.8%	-
Technology	3.7%	-
Utilities	3.2%	-
Basic Materials	2.8%	-
Healthcare	1.1%	-
Real Estate	1.0%	-
Consumer Defensive	0.4%	-

Return for Risk

IPKW vs. BOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPKW

IPKW Risk / Return Rank: 69
IPKW Sharpe Ratio Rank: 69
IPKW Sortino Ratio Rank: 69
IPKW Omega Ratio Rank: 69
IPKW Calmar Ratio Rank: 74
IPKW Martin Ratio Rank: 66

BOAT

BOAT Risk / Return Rank: 87
BOAT Sharpe Ratio Rank: 90
BOAT Sortino Ratio Rank: 88
BOAT Omega Ratio Rank: 84
BOAT Calmar Ratio Rank: 91
BOAT Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPKW vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and SonicShares Global Shipping ETF (BOAT). 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	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.80	2.46	-0.65
Sortino ratio: Return per unit of downside risk	2.55	3.26	-0.71
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.92	4.36	-1.44
Martin ratio: Return relative to average drawdown	9.19	12.30	-3.10

IPKW vs. BOAT - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.80, which is comparable to the BOAT Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of IPKW and BOAT, 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. BOAT - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for IPKW and BOAT.

Drawdown Indicators

	IPKW	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-33.94%	-13.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-11.60%	+2.46%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-33.94%	+16.17%
Max Drawdown (5Y) Largest decline over 5 years	-32.56%	-33.94%	+1.38%
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	—	—
Current Drawdown Current decline from peak	-0.33%	-2.56%	+2.23%
Average Drawdown Average peak-to-trough decline	-8.90%	-9.49%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	4.11%	-1.21%

Volatility

IPKW vs. BOAT - Volatility Comparison

The current volatility for Invesco International BuyBack Achievers™ ETF (IPKW) is 3.49%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 6.75%. This indicates that IPKW experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	6.75%	-3.26%
Volatility (6M) Calculated over the trailing 6-month period	12.36%	16.96%	-4.60%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	20.71%	-5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	25.03%	-8.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	25.06%	-7.31%

IPKW vs. BOAT - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is lower than BOAT's 0.69% expense ratio.

Dividends

IPKW vs. BOAT - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.36%, less than BOAT's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOAT SonicShares Global Shipping ETF	6.47%	8.08%	13.89%	13.65%	13.57%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPKW Invesco International BuyBack Achievers™ ETF	3.36%	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 BOAT in my portfolio?

IPKW and BOAT have a correlation of 0.42, 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 BOAT?

BOAT has higher volatility (6.75%) compared to IPKW (3.49%). In terms of maximum drawdown, IPKW dropped -47.24% vs BOAT's -33.94%.

Which ETF is better, IPKW or BOAT?

On 5-year performance, BOAT leads with 24.02% vs 11.23% for IPKW. On fees, IPKW is cheaper at 0.55% per year. On volatility, IPKW has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPKW or BOAT?

Over the 5-year period, BOAT has performed better with a 24.02% return vs 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or BOAT?

IPKW is cheaper with a 0.55% expense ratio, compared with 0.69% for BOAT.

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

BOAT has the higher dividend yield at 6.47%, compared with 3.36% for IPKW.

What is the main difference between IPKW and BOAT?

IPKW is categorized as Foreign Large Cap Equities, while BOAT is Industrials Equities. IPKW tracks NASDAQ International BuyBack Achievers Index, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Invesco and Tidal. Their fees differ too: 0.55% for IPKW and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.46 vs 1.80), 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.