VYMI vs. IPKW

Last updated Jun 14, 2026

VYMI (Vanguard International High Dividend Yield ETF) and IPKW (Invesco International BuyBack Achievers™ ETF) are both exchange-traded funds - VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index, while IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index. Both are passively managed. Over the past 10 years, VYMI returned 11.24%/yr vs 11.93%/yr for IPKW. Their correlation of 0.88 suggests significant overlap in exposure. VYMI charges 0.07%/yr vs 0.55%/yr for IPKW.

Performance

VYMI vs. IPKW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard International High Dividend Yield ETF (VYMI) and Invesco International BuyBack Achievers™ ETF (IPKW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VYMI achieves a 12.90% return, which is significantly higher than IPKW's 5.48% return. Over the past 10 years, VYMI has underperformed IPKW with an annualized return of 11.24%, while IPKW has yielded a comparatively higher 11.93% annualized return.

VYMI

• 1D: 0.54%
• 1M: 1.28%
• YTD: 12.90%
• 6M: 14.90%
• 1Y: 31.26%
• 3Y*: 21.73%
• 5Y*: 12.29%
• 10Y*: 11.24%

IPKW

• 1D: 0.03%
• 1M: -1.22%
• YTD: 5.48%
• 6M: 7.67%
• 1Y: 23.37%
• 3Y*: 22.77%
• 5Y*: 9.12%
• 10Y*: 11.93%

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

VYMI vs. IPKW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VYMI Vanguard International High Dividend Yield ETF	12.90%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-12.65%	22.36%
IPKW Invesco International BuyBack Achievers™ ETF	5.48%	45.50%	10.56%	15.12%	-12.81%	11.41%	16.18%	20.26%	-21.59%	34.21%

Correlation

The correlation between VYMI and IPKW is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 2, 2016	0.88

The correlation between VYMI and IPKW has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

VYMI vs. IPKW - Sectors Allocation Comparison

Sectors	VYMI	IPKW
Financial Services	41.9%	35.1%
Energy	9.5%	17.4%
Consumer Defensive	7.0%	0.4%
Basic Materials	6.8%	3.0%
Healthcare	6.6%	1.0%
Industrials	6.6%	11.8%
Consumer Cyclical	6.5%	17.7%
Utilities	5.6%	3.3%
Technology	4.3%	3.8%
Communication Services	4.0%	5.4%
Real Estate	1.3%	1.0%

Return for Risk

VYMI vs. IPKW — Risk / Return Rank

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

VYMI

VYMI Risk / Return Rank: 76
VYMI Sharpe Ratio Rank: 82
VYMI Sortino Ratio Rank: 80
VYMI Omega Ratio Rank: 80
VYMI Calmar Ratio Rank: 68
VYMI Martin Ratio Rank: 72

IPKW

IPKW Risk / Return Rank: 53
IPKW Sharpe Ratio Rank: 51
IPKW Sortino Ratio Rank: 51
IPKW Omega Ratio Rank: 51
IPKW Calmar Ratio Rank: 57
IPKW Martin Ratio Rank: 55

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.

VYMI vs. IPKW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard International High Dividend Yield ETF (VYMI) and Invesco International BuyBack Achievers™ ETF (IPKW). 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.

	VYMI	IPKW	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.55	+0.70
Sortino ratio: Return per unit of downside risk	3.08	2.22	+0.87
Omega ratio: Gain probability vs. loss probability	1.41	1.28	+0.12
Calmar ratio: Return relative to maximum drawdown	2.96	2.49	+0.47
Martin ratio: Return relative to average drawdown	11.60	8.37	+3.23

VYMI vs. IPKW - Sharpe Ratio Comparison

The current VYMI Sharpe Ratio is 2.26, which is higher than the IPKW Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of VYMI and IPKW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VYMI vs. IPKW - Drawdown Comparison

The maximum VYMI drawdown since its inception was -40.00%, smaller than the maximum IPKW drawdown of -47.24%. Use the drawdown chart below to compare losses from any high point for VYMI and IPKW.

Drawdown Indicators

	VYMI	IPKW	Difference
Max Drawdown Largest peak-to-trough decline	-40.00%	-47.24%	+7.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-9.14%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-12.84%	-17.77%	+4.93%
Max Drawdown (5Y) Largest decline over 5 years	-24.05%	-32.67%	+8.62%
Max Drawdown (10Y) Largest decline over 10 years	-40.00%	-47.24%	+7.24%
Current Drawdown Current decline from peak	0.00%	-3.00%	+3.00%
Average Drawdown Average peak-to-trough decline	-6.30%	-8.98%	+2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.72%	-0.13%

Volatility

VYMI vs. IPKW - Volatility Comparison

Vanguard International High Dividend Yield ETF (VYMI) and Invesco International BuyBack Achievers™ ETF (IPKW) have volatilities of 4.40% and 4.33%, 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

	VYMI	IPKW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.33%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	12.27%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	14.68%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	17.06%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	17.90%	-1.05%

VYMI vs. IPKW - Expense Ratio Comparison

VYMI has a 0.07% expense ratio, which is lower than IPKW's 0.55% expense ratio.

Dividends

VYMI vs. IPKW - Dividend Comparison

VYMI's dividend yield for the trailing twelve months is around 3.39%, less than IPKW's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPKW Invesco International BuyBack Achievers™ ETF	3.54%	3.55%	4.12%	2.66%	3.77%	7.37%	1.45%	2.41%	2.61%	0.93%	2.82%	1.31%
VYMI Vanguard International High Dividend Yield ETF	3.39%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%	0.00%

Frequently Asked Questions

Can I hold both VYMI and IPKW in my portfolio?

With a correlation of 0.91, VYMI and IPKW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VYMI or IPKW?

VYMI has higher volatility (4.40%) compared to IPKW (4.33%). In terms of maximum drawdown, VYMI dropped -40.00% vs IPKW's -47.24%.

Which ETF is better, VYMI or IPKW?

On 10-year performance, IPKW leads with 11.93% vs 11.24% for VYMI. On fees, VYMI is cheaper at 0.07% 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, VYMI or IPKW?

Over the 10-year period, IPKW has performed better with a 11.93% return vs 11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VYMI or IPKW?

VYMI is cheaper with a 0.07% expense ratio, compared with 0.55% for IPKW.

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

IPKW has the higher dividend yield at 3.54%, compared with 3.39% for VYMI.

What is the main difference between VYMI and IPKW?

VYMI is categorized as Dividend, while IPKW is Global Equities. VYMI tracks FTSE All-World ex US High Dividend Yield Index, while IPKW tracks NASDAQ International BuyBack Achievers Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VYMI and 0.55% for IPKW.

Which has better risk-adjusted returns?

VYMI currently has the higher Sharpe Ratio (2.26 vs 1.55), 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.