PKW vs. MOAT

Last updated Jun 4, 2026

PKW (Invesco BuyBack Achievers™ ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - PKW is a Mid Cap Value Equities fund tracking the NASDAQ US BuyBack Achievers Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, PKW returned 12.81%/yr vs 13.37%/yr for MOAT. Their correlation of 0.86 suggests significant overlap in exposure. PKW charges 0.62%/yr vs 0.47%/yr for MOAT.

Performance

PKW vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BuyBack Achievers™ ETF (PKW) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKW achieves a 2.43% return, which is significantly higher than MOAT's -0.94% return. Both investments have delivered pretty close results over the past 10 years, with PKW having a 12.81% annualized return and MOAT not far ahead at 13.37%.

PKW

• 1D: -0.38%
• 1M: -0.04%
• YTD: 2.43%
• 6M: 3.41%
• 1Y: 16.01%
• 3Y*: 18.60%
• 5Y*: 9.90%
• 10Y*: 12.81%

MOAT

• 1D: -1.37%
• 1M: 3.30%
• YTD: -0.94%
• 6M: -0.69%
• 1Y: 14.97%
• 3Y*: 11.34%
• 5Y*: 8.01%
• 10Y*: 13.37%

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

PKW vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKW Invesco BuyBack Achievers™ ETF	2.43%	17.92%	17.33%	17.24%	-10.21%	32.62%	8.41%	34.09%	-10.53%	17.75%
MOAT VanEck Morningstar Wide Moat ETF	-0.94%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between PKW and MOAT is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012	0.86

The correlation between PKW and MOAT has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

PKW vs. MOAT - Sectors Allocation Comparison

Sectors	PKW	MOAT
Financial Services	29.4%	6.7%
Consumer Cyclical	19.1%	10.3%
Industrials	14.2%	13.5%
Technology	10.8%	32.8%
Healthcare	10.1%	16.0%
Energy	5.6%	-
Communication Services	4.0%	2.4%
Consumer Defensive	3.4%	17.5%
Utilities	2.1%	-
Basic Materials	1.1%	-
Real Estate	0.3%	0.8%

Return for Risk

PKW vs. MOAT — Risk / Return Rank

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

PKW

PKW Risk / Return Rank: 36
PKW Sharpe Ratio Rank: 34
PKW Sortino Ratio Rank: 34
PKW Omega Ratio Rank: 31
PKW Calmar Ratio Rank: 41
PKW Martin Ratio Rank: 40

MOAT

MOAT Risk / Return Rank: 27
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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.

PKW vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BuyBack Achievers™ ETF (PKW) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	PKW	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.09	+0.14
Sortino ratio: Return per unit of downside risk	1.84	1.64	+0.20
Omega ratio: Gain probability vs. loss probability	1.22	1.19	+0.03
Calmar ratio: Return relative to maximum drawdown	2.05	1.21	+0.84
Martin ratio: Return relative to average drawdown	6.46	3.77	+2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PKW vs. MOAT - Sharpe Ratio Comparison

The current PKW Sharpe Ratio is 1.23, which is comparable to the MOAT Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of PKW and MOAT, 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

	PKW	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.09	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.44	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.72	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.77	-0.25

Drawdowns

PKW vs. MOAT - Drawdown Comparison

The maximum PKW drawdown since its inception was -54.59%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for PKW and MOAT.

Drawdown Indicators

	PKW	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-33.31%	-21.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-12.43%	+4.57%
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	-21.44%	+0.53%
Max Drawdown (5Y) Largest decline over 5 years	-23.51%	-23.96%	+0.45%
Max Drawdown (10Y) Largest decline over 10 years	-40.93%	-33.31%	-7.62%
Current Drawdown Current decline from peak	-2.15%	-4.72%	+2.57%
Average Drawdown Average peak-to-trough decline	-7.96%	-3.83%	-4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	3.98%	-1.49%

Volatility

PKW vs. MOAT - Volatility Comparison

The current volatility for Invesco BuyBack Achievers™ ETF (PKW) is 3.18%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 3.82%. This indicates that PKW experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PKW	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.82%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	9.87%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	13.86%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	18.18%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.78%	18.68%	+1.10%

PKW vs. MOAT - Expense Ratio Comparison

PKW has a 0.62% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

PKW vs. MOAT - Dividend Comparison

PKW's dividend yield for the trailing twelve months is around 0.90%, less than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
PKW Invesco BuyBack Achievers™ ETF	0.90%	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

Can I hold both PKW and MOAT in my portfolio?

PKW and MOAT have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PKW or MOAT?

MOAT has higher volatility (3.82%) compared to PKW (3.18%). In terms of maximum drawdown, PKW dropped -54.59% vs MOAT's -33.31%.

Which ETF is better, PKW or MOAT?

On 10-year performance, MOAT leads with 13.37% vs 12.81% for PKW. On fees, MOAT is cheaper at 0.47% per year. On volatility, PKW has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PKW or MOAT?

Over the 10-year period, MOAT has performed better with a 13.37% return vs 12.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PKW or MOAT?

MOAT is cheaper with a 0.47% expense ratio, compared with 0.62% for PKW.

Which ETF pays a higher dividend yield, PKW or MOAT?

MOAT has the higher dividend yield at 1.37%, compared with 0.90% for PKW.

What is the main difference between PKW and MOAT?

PKW is categorized as Mid Cap Value Equities, while MOAT is Large Cap Blend Equities. PKW tracks NASDAQ US BuyBack Achievers Index, while MOAT tracks Morningstar Wide Moat Focus Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.62% for PKW and 0.47% for MOAT.

Which has better risk-adjusted returns?

PKW currently has the higher Sharpe Ratio (1.23 vs 1.09), 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.