IPKW vs SPY
Invesco International BuyBack Achievers ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IPKW delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IPKW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $539M | $789.1B | |
| Dividend Yield | 3.62% | 1.01% | |
| Holdings | 178 | 505 | |
| YTD Return | +12.03% | +13.79% | |
| 1Y Return | +26.47% | +23.66% | |
| 3Y Return (annualized) | +25.24% | +21.40% | |
| 5Y Return (annualized) | +11.70% | +13.37% | |
| Volatility (annualized) | 16.5% | 15.3% | |
| Max Drawdown | -50.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 24, 2014 | Jan 22, 1993 |
IPKW vs SPY Performance
Invesco International BuyBack Achievers ETF (IPKW) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IPKW returned +26.47% while SPY returned +23.66%. Year to date, IPKW is up 12.03% versus a gain of 13.79% for SPY.
Over three years, IPKW compounded at +25.24% per year against +21.40% for SPY; over five years the annualized figures are +11.70% and +13.37% respectively. Across the full 12-year window we track, IPKW has the edge at +9.55% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IPKW has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -50.3% for IPKW and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IPKW charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, IPKW currently yields 3.62% against 1.01% for SPY.
Holdings Overlap
IPKW and SPY share 0 holdings out of 662 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IPKW or SPY?
IPKW has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, IPKW or SPY?
Over the past year IPKW returned +26.47% vs +23.66% for SPY, so IPKW leads on 1-year performance. Over the longest common window we track (12 years), IPKW annualized +9.55% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IPKW or SPY?
IPKW has been the more volatile fund at 16.5% annualized versus 15.3% for SPY. Worst drawdown: IPKW -50.3% vs SPY -56.5%.
Should I hold both IPKW and SPY?
IPKW and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IPKW and SPY?
IPKW and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 662 unique securities.
Which pays a higher dividend, IPKW or SPY?
IPKW yields 3.62% while SPY yields 1.01%, so IPKW currently pays the higher dividend yield.
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