IPKW vs. PID

Last updated Jun 4, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and PID (Invesco International Dividend Achievers™ ETF) are both Global Equities funds from Invesco - IPKW tracks the NASDAQ International BuyBack Achievers Index while PID tracks the Nasdaq International Dividend Achievers (NR). Both are passively managed. Over the past 10 years, IPKW returned 11.44%/yr vs 8.80%/yr for PID. A 0.77 correlation means they provide meaningful diversification when combined. IPKW charges 0.55%/yr vs 0.56%/yr for PID.

Performance

IPKW vs. PID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International BuyBack Achievers™ ETF (IPKW) and Invesco International Dividend Achievers™ ETF (PID). 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 higher than PID's 5.45% return. Over the past 10 years, IPKW has outperformed PID with an annualized return of 11.44%, while PID has yielded a comparatively lower 8.80% 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%

PID

• 1D: -1.07%
• 1M: 1.28%
• YTD: 5.45%
• 6M: 6.61%
• 1Y: 16.04%
• 3Y*: 12.52%
• 5Y*: 8.28%
• 10Y*: 8.80%

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

IPKW vs. PID - 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%
PID Invesco International Dividend Achievers™ ETF	5.45%	24.45%	3.08%	14.28%	-6.48%	24.49%	-6.56%	25.87%	-11.46%	19.05%

Correlation

The correlation between IPKW and PID is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 28, 2014	0.77

The correlation between IPKW and PID has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

IPKW vs. PID - Sectors Allocation Comparison

Sectors	IPKW	PID
Financial Services	32.3%	17.5%
Energy	21.4%	13.3%
Consumer Cyclical	15.8%	6.4%
Industrials	11.4%	7.9%
Communication Services	6.3%	13.8%
Technology	3.8%	8.7%
Utilities	3.5%	14.2%
Basic Materials	2.9%	3.4%
Real Estate	1.1%	0.4%
Healthcare	1.0%	8.4%
Consumer Defensive	0.4%	6.0%

Return for Risk

IPKW vs. PID — 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

PID

PID Risk / Return Rank: 46
PID Sharpe Ratio Rank: 47
PID Sortino Ratio Rank: 50
PID Omega Ratio Rank: 47
PID Calmar Ratio Rank: 43
PID Martin Ratio Rank: 44

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. PID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and Invesco International Dividend Achievers™ ETF (PID). 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	PID	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.66	+0.18
Sortino ratio: Return per unit of downside risk	2.58	2.46	+0.12
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio: Return relative to maximum drawdown	2.87	2.16	+0.72
Martin ratio: Return relative to average drawdown	9.91	7.36	+2.55
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. PID - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.84, which is comparable to the PID Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of IPKW and PID, 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	PID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.66	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.60	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.49	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.27	+0.33

Drawdowns

IPKW vs. PID - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, smaller than the maximum PID drawdown of -66.34%. Use the drawdown chart below to compare losses from any high point for IPKW and PID.

Drawdown Indicators

	IPKW	PID	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-66.34%	+19.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-7.47%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-13.34%	-4.43%
Max Drawdown (5Y) Largest decline over 5 years	-33.18%	-22.97%	-10.21%
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	-46.07%	-1.17%
Current Drawdown Current decline from peak	-2.45%	-2.19%	-0.26%
Average Drawdown Average peak-to-trough decline	-9.00%	-13.04%	+4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.18%	+0.46%

Volatility

IPKW vs. PID - Volatility Comparison

Invesco International BuyBack Achievers™ ETF (IPKW) has a higher volatility of 4.37% compared to Invesco International Dividend Achievers™ ETF (PID) at 2.75%. This indicates that IPKW's price experiences larger fluctuations and is considered to be riskier than PID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	PID	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	2.75%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	7.62%	+4.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.31%	9.70%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	13.97%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	17.84%	+0.07%

IPKW vs. PID - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is lower than PID's 0.56% expense ratio.

Dividends

IPKW vs. PID - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.52%, more than PID's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PID Invesco International Dividend Achievers™ ETF	3.27%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%

Frequently Asked Questions

Can I hold both IPKW and PID in my portfolio?

IPKW and PID have a correlation of 0.70, 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 PID?

IPKW has higher volatility (4.37%) compared to PID (2.75%). In terms of maximum drawdown, IPKW dropped -47.24% vs PID's -66.34%.

Which ETF is better, IPKW or PID?

On 10-year performance, IPKW leads with 11.44% vs 8.80% for PID. On fees, IPKW is cheaper at 0.55% per year. On volatility, PID has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPKW or PID?

Over the 10-year period, IPKW has performed better with a 11.44% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or PID?

IPKW is cheaper with a 0.55% expense ratio, compared with 0.56% for PID.

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

IPKW has the higher dividend yield at 3.52%, compared with 3.27% for PID.

What is the main difference between IPKW and PID?

IPKW tracks NASDAQ International BuyBack Achievers Index, while PID tracks Nasdaq International Dividend Achievers (NR). Their fees differ too: 0.55% for IPKW and 0.56% for PID.

Which has better risk-adjusted returns?

IPKW currently has the higher Sharpe Ratio (1.84 vs 1.66), 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.