PKW vs. TMVE

Last updated Jun 24, 2026

PKW (Invesco BuyBack Achievers™ ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - PKW tracks the NASDAQ US BuyBack Achievers Index while TMVE tracks the Actively Managed. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. PKW charges 0.62%/yr vs 0.55%/yr for TMVE.

Performance

PKW vs. TMVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BuyBack Achievers™ ETF (PKW) and Thrivent Mid Cap Value ETF (TMVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKW achieves a 3.81% return, which is significantly lower than TMVE's 17.39% 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%

TMVE

• 1D: -0.32%
• 1M: 3.25%
• YTD: 17.39%
• 6M: 16.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PKW vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
PKW Invesco BuyBack Achievers™ ETF	3.81%	4.38%
TMVE Thrivent Mid Cap Value ETF	17.39%	6.04%

Correlation

The correlation between PKW and TMVE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.85

Return for Risk

PKW vs. TMVE — Risk / Return Rank

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

PKW

PKW Risk / Return Rank: 38
PKW Sharpe Ratio Rank: 36
PKW Sortino Ratio Rank: 36
PKW Omega Ratio Rank: 33
PKW Calmar Ratio Rank: 43
PKW Martin Ratio Rank: 42

TMVE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BuyBack Achievers™ ETF (PKW) and Thrivent Mid Cap Value ETF (TMVE). 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	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.83	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	2.07	—	—
Martin ratio: Return relative to average drawdown	6.50	—	—

Drawdowns

PKW vs. TMVE - Drawdown Comparison

The maximum PKW drawdown since its inception was -54.59%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for PKW and TMVE.

Drawdown Indicators

	PKW	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-8.21%	-46.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.51%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.93%	—	—
Current Drawdown Current decline from peak	-0.87%	-0.69%	-0.18%
Average Drawdown Average peak-to-trough decline	-7.94%	-1.43%	-6.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	—	—

Volatility

Volatility by Period

	PKW	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.29%	13.81%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.43%	13.81%	+3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	13.81%	+5.94%

PKW vs. TMVE - Expense Ratio Comparison

PKW has a 0.62% expense ratio, which is higher than TMVE's 0.55% expense ratio.

Dividends

PKW vs. TMVE - Dividend Comparison

PKW's dividend yield for the trailing twelve months is around 0.81%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PKW and TMVE in my portfolio?

PKW and TMVE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PKW or TMVE?

On fees, TMVE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PKW or TMVE?

TMVE is cheaper with a 0.55% expense ratio, compared with 0.62% for PKW.

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

PKW has the higher dividend yield at 0.81%, compared with 0.10% for TMVE.

What is the main difference between PKW and TMVE?

PKW tracks NASDAQ US BuyBack Achievers Index, while TMVE tracks Actively Managed. They also come from different issuers: Invesco and Thrivent. Their fees differ too: 0.62% for PKW and 0.55% for TMVE.