PKW vs. DVLU
PKW (Invesco BuyBack Achievers™ ETF) and DVLU (First Trust Dorsey Wright Momentum & Value ETF) are both exchange-traded funds - PKW is a Mid Cap Value Equities fund tracking the NASDAQ US BuyBack Achievers Index, while DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, PKW returned 10.28%/yr vs 12.25%/yr for DVLU. Their correlation of 0.84 suggests significant overlap in exposure. PKW charges 0.62%/yr vs 0.60%/yr for DVLU.
Performance
PKW vs. DVLU - Performance Comparison
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Returns By Period
In the year-to-date period, PKW achieves a 3.81% return, which is significantly lower than DVLU's 10.79% return.
PKW
- 1D
- 0.23%
- 1M
- 2.07%
- YTD
- 3.81%
- 6M
- 2.73%
- 1Y
- 16.22%
- 3Y*
- 18.43%
- 5Y*
- 10.28%
- 10Y*
- 13.54%
DVLU
- 1D
- 0.30%
- 1M
- 4.14%
- YTD
- 10.79%
- 6M
- 8.85%
- 1Y
- 36.17%
- 3Y*
- 21.46%
- 5Y*
- 12.25%
- 10Y*
- —
PKW vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PKW Invesco BuyBack Achievers™ ETF | 3.81% | 17.92% | 17.33% | 17.24% | -10.21% | 32.62% | 8.41% | 34.09% | -13.05% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.79% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between PKW and DVLU is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.84 |
The correlation between PKW and DVLU has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
PKW vs. DVLU — Risk / Return Rank
PKW
DVLU
PKW vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BuyBack Achievers™ ETF (PKW) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| PKW | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.97 | -0.90 |
| Martin ratioReturn relative to average drawdown | 6.50 | 10.71 | -4.21 |
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Drawdowns
PKW vs. DVLU - Drawdown Comparison
The maximum PKW drawdown since its inception was -54.59%, roughly equal to the maximum DVLU drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for PKW and DVLU.
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Drawdown Indicators
| PKW | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.59% | -53.26% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -12.24% | +4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -24.86% | +3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -23.51% | -24.86% | +1.35% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | — | — |
Current DrawdownCurrent decline from peak | -0.87% | -0.65% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -7.94% | -8.73% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 3.39% | -0.89% |
Volatility
PKW vs. DVLU - Volatility Comparison
The current volatility for Invesco BuyBack Achievers™ ETF (PKW) is 3.39%, while First Trust Dorsey Wright Momentum & Value ETF (DVLU) has a volatility of 3.70%. This indicates that PKW experiences smaller price fluctuations and is considered to be less risky than DVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PKW | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 3.70% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 12.34% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 16.43% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 21.39% | -3.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.75% | 25.73% | -5.98% |
PKW vs. DVLU - Expense Ratio Comparison
PKW has a 0.62% expense ratio, which is higher than DVLU's 0.60% expense ratio.
Dividends
PKW vs. DVLU - Dividend Comparison
PKW's dividend yield for the trailing twelve months is around 0.81%, more than DVLU's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% | 0.00% | 0.00% |
PKW Invesco BuyBack Achievers™ ETF | 0.81% | 0.99% | 0.86% | 1.17% | 1.22% | 0.72% | 1.48% | 1.30% | 1.30% | 0.65% | 1.59% | 1.14% |
Frequently Asked Questions
PKW and DVLU 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.
DVLU has higher volatility (3.70%) compared to PKW (3.39%). In terms of maximum drawdown, PKW dropped -54.59% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 12.25% vs 10.28% for PKW. On fees, DVLU is cheaper at 0.60% per year. On volatility, PKW has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.25% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DVLU is cheaper with a 0.60% expense ratio, compared with 0.62% for PKW.
PKW has the higher dividend yield at 0.81%, compared with 0.62% for DVLU.
PKW is categorized as Mid Cap Value Equities, while DVLU is Momentum. PKW tracks NASDAQ US BuyBack Achievers Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.62% for PKW and 0.60% for DVLU.
DVLU currently has the higher Sharpe Ratio (2.22 vs 1.23), 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.
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