PKW vs. SYLD

Last updated Jun 3, 2026

PKW (Invesco BuyBack Achievers™ ETF) and SYLD (Cambria Shareholder Yield ETF) are both Mid Cap Value Equities funds. PKW is passively managed, while SYLD is actively managed. Over the past 10 years, PKW returned 12.85%/yr vs 13.04%/yr for SYLD. Their correlation of 0.90 suggests significant overlap in exposure. PKW charges 0.62%/yr vs 0.59%/yr for SYLD.

Performance

PKW vs. SYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BuyBack Achievers™ ETF (PKW) and Cambria Shareholder Yield ETF (SYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKW achieves a 2.82% return, which is significantly lower than SYLD's 14.24% return. Both investments have delivered pretty close results over the past 10 years, with PKW having a 12.85% annualized return and SYLD not far ahead at 13.04%.

PKW

• 1D: 0.22%
• 1M: -0.24%
• YTD: 2.82%
• 6M: 4.68%
• 1Y: 17.61%
• 3Y*: 18.75%
• 5Y*: 10.22%
• 10Y*: 12.85%

SYLD

• 1D: 0.68%
• 1M: -0.11%
• YTD: 14.24%
• 6M: 14.43%
• 1Y: 27.88%
• 3Y*: 13.67%
• 5Y*: 5.90%
• 10Y*: 13.04%

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

PKW vs. SYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKW Invesco BuyBack Achievers™ ETF	2.82%	17.92%	17.33%	17.24%	-10.21%	32.62%	8.41%	34.09%	-10.53%	17.75%
SYLD Cambria Shareholder Yield ETF	14.24%	3.94%	3.37%	16.46%	-6.14%	48.59%	13.61%	26.98%	-13.51%	20.03%

Correlation

The correlation between PKW and SYLD is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 15, 2013	0.90

The correlation between PKW and SYLD has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

PKW vs. SYLD - Sectors Allocation Comparison

Sectors	PKW	SYLD
Financial Services	29.4%	22.7%
Consumer Cyclical	19.1%	22.9%
Industrials	14.2%	8.1%
Technology	10.8%	2.3%
Healthcare	10.1%	5.6%
Energy	5.6%	17.7%
Communication Services	4.0%	6.0%
Consumer Defensive	3.4%	6.8%
Utilities	2.1%	-
Basic Materials	1.1%	7.9%
Real Estate	0.3%	-

Return for Risk

PKW vs. SYLD — Risk / Return Rank

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

PKW

PKW Risk / Return Rank: 40
PKW Sharpe Ratio Rank: 37
PKW Sortino Ratio Rank: 39
PKW Omega Ratio Rank: 36
PKW Calmar Ratio Rank: 45
PKW Martin Ratio Rank: 45

SYLD

SYLD Risk / Return Rank: 59
SYLD Sharpe Ratio Rank: 51
SYLD Sortino Ratio Rank: 57
SYLD Omega Ratio Rank: 50
SYLD Calmar Ratio Rank: 77
SYLD Martin Ratio Rank: 60

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. SYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BuyBack Achievers™ ETF (PKW) and Cambria Shareholder Yield ETF (SYLD). 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	SYLD	Difference
Sharpe ratio Return per unit of total volatility	1.35	1.80	-0.46
Sortino ratio Return per unit of downside risk	2.00	2.74	-0.74
Omega ratio Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio Return relative to maximum drawdown	2.29	4.00	-1.71
Martin ratio Return relative to average drawdown	7.24	10.87	-3.62
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. SYLD - Sharpe Ratio Comparison

The current PKW Sharpe Ratio is 1.35, which is comparable to the SYLD Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of PKW and SYLD, 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	SYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	1.80	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.29	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.57	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.57	-0.05

Drawdowns

PKW vs. SYLD - Drawdown Comparison

The maximum PKW drawdown since its inception was -54.59%, which is greater than SYLD's maximum drawdown of -45.36%. Use the drawdown chart below to compare losses from any high point for PKW and SYLD.

Drawdown Indicators

	PKW	SYLD	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-45.36%	-9.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-6.93%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	-26.62%	+5.71%
Max Drawdown (5Y) Largest decline over 5 years	-23.51%	-26.62%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	-40.93%	-45.36%	+4.43%
Current Drawdown Current decline from peak	-1.78%	-0.78%	-1.00%
Average Drawdown Average peak-to-trough decline	-7.96%	-5.66%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.55%	-0.07%

Volatility

PKW vs. SYLD - Volatility Comparison

Invesco BuyBack Achievers™ ETF (PKW) and Cambria Shareholder Yield ETF (SYLD) have volatilities of 3.21% and 3.24%, 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

	PKW	SYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	3.24%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	9.92%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.13%	15.54%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	20.62%	-3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.79%	22.96%	-3.17%

PKW vs. SYLD - Expense Ratio Comparison

PKW has a 0.62% expense ratio, which is higher than SYLD's 0.59% expense ratio.

Dividends

PKW vs. SYLD - Dividend Comparison

PKW's dividend yield for the trailing twelve months is around 0.90%, less than SYLD's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SYLD Cambria Shareholder Yield ETF	1.86%	2.25%	2.04%	1.92%	2.20%	2.37%	1.99%	2.08%	2.52%	1.57%	1.92%	6.93%

Frequently Asked Questions

Can I hold both PKW and SYLD in my portfolio?

PKW and SYLD have a correlation of 0.83, 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 SYLD?

SYLD has higher volatility (3.24%) compared to PKW (3.21%). In terms of maximum drawdown, PKW dropped -54.59% vs SYLD's -45.36%.

Which ETF is better, PKW or SYLD?

On 10-year performance, SYLD leads with 13.04% vs 12.85% for PKW. On fees, SYLD is cheaper at 0.59% 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, PKW or SYLD?

Over the 10-year period, SYLD has performed better with a 13.04% return vs 12.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PKW or SYLD?

SYLD is cheaper with a 0.59% expense ratio, compared with 0.62% for PKW.

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

SYLD has the higher dividend yield at 1.86%, compared with 0.90% for PKW.

What is the main difference between PKW and SYLD?

They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.62% for PKW and 0.59% for SYLD.

Which has better risk-adjusted returns?

SYLD currently has the higher Sharpe Ratio (1.80 vs 1.35), 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.