IPKW vs. IQLT

Last updated Aug 2, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and IQLT (iShares MSCI Intl Quality Factor ETF) are both exchange-traded funds - IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index, while IQLT is a Quality Factor fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net). Both are passively managed. Over the past 10 years, IPKW returned 11.92%/yr vs 9.70%/yr for IQLT. Their 0.78 correlation means they have sometimes moved together and sometimes differently. IPKW charges 0.55%/yr vs 0.30%/yr for IQLT.

Performance

IPKW vs. IQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International BuyBack Achievers™ ETF (IPKW) and iShares MSCI Intl Quality Factor ETF (IQLT). 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 IQLT's 12.06% return. Over the past 10 years, IPKW has outperformed IQLT with an annualized return of 11.92%, while IQLT has yielded a comparatively lower 9.70% annualized 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%

IQLT

• 1D: -0.81%
• 1M: 1.15%
• 6M: 6.98%
• YTD: 12.06%
• 1Y: 24.16%
• 3Y*: 14.51%
• 5Y*: 7.74%
• 10Y*: 9.70%
• ALL TIME*: 8.64%

*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)
IPKW Invesco International BuyBack Achievers™ ETF	$2.21M	$2.03M	$2.36M
IQLT iShares MSCI Intl Quality Factor ETF	$80.44M	$83.91M	$72.09M

IPKW vs. IQLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPKW Invesco International BuyBack Achievers™ ETF	11.03%	45.50%	10.56%	15.12%	-12.81%	11.41%	16.18%	20.26%	-21.59%	34.21%
IQLT iShares MSCI Intl Quality Factor ETF	12.06%	25.42%	1.54%	18.73%	-15.22%	12.94%	12.48%	28.18%	-10.76%	24.04%

Correlation

The correlation between IPKW and IQLT is 0.84, 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.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Jan 15, 2015	0.78

The correlation between IPKW and IQLT has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

IPKW vs. IQLT - Sectors Allocation Comparison

Sectors	IPKW	IQLT
Financial Services	36.7%	26.4%
Consumer Cyclical	18.1%	7.7%
Energy	16.1%	5.5%
Industrials	12.0%	18.0%
Communication Services	4.8%	2.4%
Technology	3.7%	12.3%
Utilities	3.2%	3.7%
Basic Materials	2.8%	6.7%
Healthcare	1.1%	8.8%
Real Estate	1.0%	1.5%
Consumer Defensive	0.4%	6.4%

Return for Risk

IPKW vs. IQLT — 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

IQLT

IQLT Risk / Return Rank: 69
IQLT Sharpe Ratio Rank: 70
IQLT Sortino Ratio Rank: 70
IQLT Omega Ratio Rank: 66
IQLT Calmar Ratio Rank: 66
IQLT Martin Ratio Rank: 74

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. IQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and iShares MSCI Intl Quality Factor ETF (IQLT). 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	IQLT	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.58	+0.25
Sortino ratio: Return per unit of downside risk	2.59	2.28	+0.32
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.06
Calmar ratio: Return relative to maximum drawdown	2.98	2.30	+0.68
Martin ratio: Return relative to average drawdown	9.39	9.18	+0.21

IPKW vs. IQLT - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.83, which is comparable to the IQLT Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IPKW and IQLT, 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. IQLT - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, which is greater than IQLT's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for IPKW and IQLT.

Drawdown Indicators

	IPKW	IQLT	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-32.21%	-15.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-10.38%	+1.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-13.18%	-4.59%
Max Drawdown (5Y) Largest decline over 5 years	-32.56%	-30.24%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	-32.21%	-15.03%
Current Drawdown Current decline from peak	-0.74%	-0.81%	+0.07%
Average Drawdown Average peak-to-trough decline	-8.91%	-6.15%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.59%	+0.31%

Volatility

IPKW vs. IQLT - Volatility Comparison

Invesco International BuyBack Achievers™ ETF (IPKW) and iShares MSCI Intl Quality Factor ETF (IQLT) have volatilities of 3.94% and 3.86%, 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	IQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.86%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	12.38%	12.95%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	15.13%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	16.57%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	16.77%	+0.98%

IPKW vs. IQLT - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is higher than IQLT's 0.30% expense ratio.

Dividends

IPKW vs. IQLT - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.38%, more than IQLT's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IQLT iShares MSCI Intl Quality Factor ETF	2.38%	2.33%	2.87%	2.27%	3.14%	2.24%	1.61%	2.28%	2.72%	2.36%	2.91%	2.78%

Frequently Asked Questions

Can I hold both IPKW and IQLT in my portfolio?

IPKW and IQLT have a correlation of 0.84, 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 IQLT?

IPKW has higher volatility (3.94%) compared to IQLT (3.86%). In terms of maximum drawdown, IPKW dropped -47.24% vs IQLT's -32.21%.

Which ETF is better, IPKW or IQLT?

On 10-year performance, IPKW leads with 11.92% vs 9.70% for IQLT. On fees, IQLT is cheaper at 0.30% 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 IQLT?

Over the 10-year period, IPKW has performed better with a 11.92% return vs 9.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or IQLT?

IQLT is cheaper with a 0.30% expense ratio, compared with 0.55% for IPKW.

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

IPKW has the higher dividend yield at 3.38%, compared with 2.38% for IQLT.

What is the main difference between IPKW and IQLT?

IPKW is categorized as Global Equities, while IQLT is Quality Factor. IPKW tracks NASDAQ International BuyBack Achievers Index, while IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.55% for IPKW and 0.30% for IQLT.

Which has better risk-adjusted returns?

IPKW currently has the higher Sharpe Ratio (1.83 vs 1.58), 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.