IPKW vs. DISVX

Last updated Jun 4, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and DISVX (DFA International Small Cap Value Portfolio) are both funds - IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index, while DISVX is a Foreign Small & Mid Cap Equities fund managed by Dimensional. Over the past 10 years, IPKW returned 11.44%/yr vs 10.65%/yr for DISVX. Their correlation of 0.85 suggests significant overlap in exposure. IPKW charges 0.55%/yr vs 0.46%/yr for DISVX.

Performance

IPKW vs. DISVX - Performance Comparison

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

Returns By Period

In the year-to-date period, IPKW achieves a 6.08% return, which is significantly lower than DISVX's 10.61% return. Over the past 10 years, IPKW has outperformed DISVX with an annualized return of 11.44%, while DISVX has yielded a comparatively lower 10.65% annualized return.

IPKW

• 1D: -1.07%
• 1M: 0.86%
• YTD: 6.08%
• 6M: 9.96%
• 1Y: 26.14%
• 3Y*: 23.62%
• 5Y*: 9.19%
• 10Y*: 11.44%

DISVX

• 1D: 0.06%
• 1M: 3.32%
• YTD: 10.61%
• 6M: 14.85%
• 1Y: 36.19%
• 3Y*: 26.27%
• 5Y*: 13.72%
• 10Y*: 10.65%

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

IPKW vs. DISVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPKW Invesco International BuyBack Achievers™ ETF	6.08%	45.50%	10.56%	15.12%	-12.81%	11.41%	16.18%	20.26%	-21.59%	34.21%
DISVX DFA International Small Cap Value Portfolio	10.61%	52.17%	7.88%	17.58%	-9.80%	15.84%	0.82%	21.04%	-23.36%	25.41%

Correlation

The correlation between IPKW and DISVX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Feb 28, 2014	0.85

The correlation between IPKW and DISVX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

IPKW vs. DISVX — Risk / Return Rank

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

IPKW

IPKW Risk / Return Rank: 54
IPKW Sharpe Ratio Rank: 53
IPKW Sortino Ratio Rank: 53
IPKW Omega Ratio Rank: 53
IPKW Calmar Ratio Rank: 58
IPKW Martin Ratio Rank: 56

DISVX

DISVX Risk / Return Rank: 60
DISVX Sharpe Ratio Rank: 73
DISVX Sortino Ratio Rank: 68
DISVX Omega Ratio Rank: 66
DISVX Calmar Ratio Rank: 49
DISVX Martin Ratio Rank: 46

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. DISVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and DFA International Small Cap Value Portfolio (DISVX). 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.

	IPKW	DISVX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.49	-0.65
Sortino ratio: Return per unit of downside risk	2.58	3.43	-0.85
Omega ratio: Gain probability vs. loss probability	1.33	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	2.87	2.68	+0.19
Martin ratio: Return relative to average drawdown	9.91	9.57	+0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPKW vs. DISVX - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.84, which is comparable to the DISVX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of IPKW and DISVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IPKW	DISVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.49	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.86	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.64	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.52	+0.07

Drawdowns

IPKW vs. DISVX - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, smaller than the maximum DISVX drawdown of -61.57%. Use the drawdown chart below to compare losses from any high point for IPKW and DISVX.

Drawdown Indicators

	IPKW	DISVX	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-61.57%	+14.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-13.26%	+4.12%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-13.69%	-4.08%
Max Drawdown (5Y) Largest decline over 5 years	-33.18%	-27.43%	-5.75%
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	-49.24%	+2.00%
Current Drawdown Current decline from peak	-2.45%	-3.34%	+0.89%
Average Drawdown Average peak-to-trough decline	-9.00%	-12.20%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	3.70%	-1.06%

Volatility

IPKW vs. DISVX - Volatility Comparison

Invesco International BuyBack Achievers™ ETF (IPKW) has a higher volatility of 4.37% compared to DFA International Small Cap Value Portfolio (DISVX) at 3.94%. This indicates that IPKW's price experiences larger fluctuations and is considered to be riskier than DISVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	DISVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	3.94%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	11.64%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	14.31%	14.37%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	16.07%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	16.78%	+1.13%

IPKW vs. DISVX - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is higher than DISVX's 0.46% expense ratio.

Dividends

IPKW vs. DISVX - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.52%, less than DISVX's 6.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DISVX DFA International Small Cap Value Portfolio	6.52%	7.17%	4.56%	3.87%	2.40%	3.51%	1.84%	3.97%	5.91%	3.77%	5.85%	3.51%
IPKW Invesco International BuyBack Achievers™ ETF	3.52%	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 DISVX in my portfolio?

IPKW and DISVX have a correlation of 0.82, 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 DISVX?

IPKW has higher volatility (4.37%) compared to DISVX (3.94%). In terms of maximum drawdown, IPKW dropped -47.24% vs DISVX's -61.57%.

Which has better risk-adjusted returns?

DISVX currently has the higher Sharpe Ratio (2.49 vs 1.84), 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.