IPKW vs. DFIV

Last updated Aug 2, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and DFIV (Dimensional International Value ETF) are both exchange-traded funds - IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index, while DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional. IPKW is passively managed, while DFIV is actively managed. Over the past 3 years, IPKW returned 23.55%/yr vs 23.26%/yr for DFIV. Their correlation of 0.91 means they have usually moved in the same direction. IPKW charges 0.55%/yr vs 0.27%/yr for DFIV.

Performance

IPKW vs. DFIV - Performance Comparison

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

Returns By Period

In the year-to-date period, IPKW achieves a 11.03% return, which is significantly lower than DFIV's 16.68% return.

IPKW

• 1D: -0.74%
• 1M: 5.81%
• 6M: 5.67%
• YTD: 11.03%
• 1Y: 28.03%
• 3Y*: 23.55%
• 5Y*: 11.05%
• 10Y*: 11.92%
• ALL TIME*: 10.62%

DFIV

• 1D: -0.47%
• 1M: 4.37%
• 6M: 10.06%
• YTD: 16.68%
• 1Y: 37.44%
• 3Y*: 23.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.12%

*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)
DFIV Dimensional International Value ETF	$76.53M	$67.72M	$67.89M
IPKW Invesco International BuyBack Achievers™ ETF	$2.21M	$2.03M	$2.36M

IPKW vs. DFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IPKW Invesco International BuyBack Achievers™ ETF	11.03%	45.50%	10.56%	15.12%	-12.81%	-7.44%
DFIV Dimensional International Value ETF	16.68%	45.36%	7.26%	17.75%	-3.70%	0.50%

Correlation

The correlation between IPKW and DFIV is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021	0.91

The correlation between IPKW and DFIV has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

IPKW vs. DFIV - Sectors Allocation Comparison

Sectors	IPKW	DFIV
Financial Services	36.7%	34.3%
Consumer Cyclical	18.1%	9.7%
Energy	16.1%	14.1%
Industrials	12.0%	9.8%
Communication Services	4.8%	4.0%
Technology	3.7%	3.1%
Utilities	3.2%	2.3%
Basic Materials	2.8%	10.5%
Healthcare	1.1%	5.4%
Real Estate	1.0%	1.7%
Consumer Defensive	0.4%	5.2%

Return for Risk

IPKW vs. DFIV — Risk / Return Rank

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

IPKW

IPKW Risk / Return Rank: 79
IPKW Sharpe Ratio Rank: 80
IPKW Sortino Ratio Rank: 80
IPKW Omega Ratio Rank: 79
IPKW Calmar Ratio Rank: 82
IPKW Martin Ratio Rank: 75

DFIV

DFIV Risk / Return Rank: 93
DFIV Sharpe Ratio Rank: 95
DFIV Sortino Ratio Rank: 94
DFIV Omega Ratio Rank: 93
DFIV Calmar Ratio Rank: 90
DFIV Martin Ratio Rank: 91

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. DFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and Dimensional International Value ETF (DFIV). 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	DFIV	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.69	-0.85
Sortino ratio: Return per unit of downside risk	2.59	3.65	-1.05
Omega ratio: Gain probability vs. loss probability	1.33	1.48	-0.15
Calmar ratio: Return relative to maximum drawdown	2.98	3.86	-0.88
Martin ratio: Return relative to average drawdown	9.39	14.96	-5.58

IPKW vs. DFIV - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.83, which is lower than the DFIV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of IPKW and DFIV, 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. DFIV - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, which is greater than DFIV's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for IPKW and DFIV.

Drawdown Indicators

	IPKW	DFIV	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-25.42%	-21.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-9.66%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-14.72%	-3.05%
Max Drawdown (5Y) Largest decline over 5 years	-32.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.47%	-0.27%
Average Drawdown Average peak-to-trough decline	-8.91%	-4.37%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.49%	+0.41%

Volatility

IPKW vs. DFIV - Volatility Comparison

Invesco International BuyBack Achievers™ ETF (IPKW) and Dimensional International Value ETF (DFIV) have volatilities of 3.94% and 3.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	DFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.89%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	12.38%	11.59%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	13.91%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	16.55%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	16.55%	+1.20%

IPKW vs. DFIV - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is higher than DFIV's 0.27% expense ratio.

Dividends

IPKW vs. DFIV - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.38%, more than DFIV's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIV Dimensional International Value ETF	2.58%	2.92%	3.88%	3.93%	3.84%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPKW Invesco International BuyBack Achievers™ ETF	3.38%	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 DFIV in my portfolio?

With a correlation of 0.94, IPKW and DFIV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IPKW or DFIV?

IPKW has higher volatility (3.94%) compared to DFIV (3.89%). In terms of maximum drawdown, IPKW dropped -47.24% vs DFIV's -25.42%.

Which ETF is better, IPKW or DFIV?

On 3-year performance, IPKW leads with 23.55% vs 23.26% for DFIV. On fees, DFIV is cheaper at 0.27% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPKW or DFIV?

Over the 3-year period, IPKW has performed better with a 23.55% return vs 23.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or DFIV?

DFIV is cheaper with a 0.27% expense ratio, compared with 0.55% for IPKW.

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

IPKW has the higher dividend yield at 3.38%, compared with 2.58% for DFIV.

What is the main difference between IPKW and DFIV?

IPKW is categorized as Global Equities, while DFIV is Foreign Large Cap Equities. They also come from different issuers: Invesco and Dimensional. Their fees differ too: 0.55% for IPKW and 0.27% for DFIV.

Which has better risk-adjusted returns?

DFIV currently has the higher Sharpe Ratio (2.69 vs 1.83), 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.