PKW vs VYM
Invesco BuyBack Achievers ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | PKW | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.62% | 0.04% | |
| AUM | $1.8B | $81.6B | |
| Dividend Yield | 0.77% | 2.24% | |
| Holdings | 227 | 616 | |
| YTD Return | +10.77% | +14.66% | |
| 1Y Return | +17.15% | +22.16% | |
| 3Y Return (annualized) | +18.95% | +18.72% | |
| 5Y Return (annualized) | +11.18% | +12.18% | |
| Volatility (annualized) | 17.1% | 14.6% | |
| Max Drawdown | -55.3% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 20, 2006 | Nov 10, 2006 |
PKW vs VYM Performance
Invesco BuyBack Achievers ETF (PKW) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PKW returned +17.15% while VYM returned +22.16%. Year to date, PKW is up 10.77% versus a gain of 14.66% for VYM.
Over three years, PKW compounded at +18.95% per year against +18.72% for VYM; over five years the annualized figures are +11.18% and +12.18% respectively. Across the full 20-year window we track, PKW has the edge at +9.84% annualized vs +7.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PKW has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 14.6% for VYM. 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 -55.3% for PKW and -58.8% for VYM. 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PKW charges 0.62% per year while VYM charges 0.04%. On a $10,000 position that is $62 vs $4 annually, a gap of $58 per year that compounds over a long holding period. On income, PKW currently yields 0.77% against 2.24% for VYM.
Holdings Overlap
PKW and VYM share 65 holdings out of 764 unique holdings combined, representing a 5.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PKW or VYM?
PKW has an expense ratio of 0.62% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $58 per year of difference.
Which performed better, PKW or VYM?
Over the past year PKW returned +17.15% vs +22.16% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), PKW annualized +9.84% vs +7.01% for VYM. Past performance does not guarantee future results.
Which is riskier, PKW or VYM?
PKW has been the more volatile fund at 17.1% annualized versus 14.6% for VYM. Worst drawdown: PKW -55.3% vs VYM -58.8%.
Should I hold both PKW and VYM?
PKW and VYM have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between PKW and VYM?
PKW and VYM share 65 common holdings with a 5.3% weight overlap. Combined, they hold 764 unique securities.
Which pays a higher dividend, PKW or VYM?
PKW yields 0.77% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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