EFG vs IPKW: Grades, Fees and Holdings Compared

iShares MSCI EAFE Growth ETF

EFGBCboe

Invesco International BuyBack Achievers ETF

IPKWCNasdaq

Overlap

2.4%by weight

Expense ratio

EFG −0.21pt a year

EFG0.34%IPKW0.55%

Avg volume · 30D

EFG 20.2×the volume

EFG894KIPKW44.2K

10Y return · a year

IPKW +3.6pt

EFG+7.9%IPKW+11.5%

EFG vs IPKW Performance

Oct 29, 2021 – Oct 30, 2026

+16.4%EFG+71.4%IPKW

Expense ratio: EFG 0.34%, better; IPKW 0.55%
Fund size: EFG $15B; IPKW $571M
1Y total return: EFG +5.0%; IPKW +18.0%, better
Yield (12M): EFG 2.35%; IPKW 3.35%, better
Holdings: EFG 364; IPKW 177
Avg volume (30D): EFG 894K sh, better; IPKW 44.2K sh
NAV per share: EFG $118.54; IPKW $59.80
52W range

ETF.net Grade

Pillar letters and Scores for EFG, IPKW, with each pillar’s weight
Pillar	EFG	IPKW
Cost30% weight	C50Higher	D25
Mission25% weight	A93	Not scored
Risk15% weight	F24	C50Higher
Tradability15% weight	A91Higher	B65
Holdings10% weight	B61Higher	D27
Durability5% weight	A86Higher	B55

Rank among International Factor Index funds

How we build Categories ›

Same Category. EFG and IPKW are both graded against the same 15 International Factor Index funds, so their Grades compare head to head.

International Factor Index⁠

Category · 15 funds

See all 15 ›

EFG ranks 4th and IPKW 12th of 15 funds in the International Factor Index Category.

Rank 1AEFAViShares MSCI EAFE Min Vol Factor ETFScore 75
Rank 2BACWViShares MSCI Global Min Vol Factor ETFScore 68
Rank 3BIDLVInvesco S&P International Developed Low Volatility ETFScore 66
Rank 4BEFGiShares MSCI EAFE Growth ETFScore 65
Rank 5BIDMOInvesco S&P International Developed Momentum ETFScore 61
Rank 11CFYLDCambria Foreign Shareholder Yield ETFScore 50
Rank 12CIPKWInvesco International BuyBack Achievers ETFScore 40
Rank 12CVEFAVanEck MSCI EAFE Analyst Sentiment ETFScore 40

Our read on each fund

ETF.net Research

EFGBiShares MSCI EAFE Growth ETF

IPKWCInvesco International BuyBack Achievers ETF

In short

EFG MSCI splits the EAFE benchmark into a value half and a growth half. EFG is the growth half: roughly 400 companies across Europe, Australasia and the Far East, screened on earnings and sales growth, running since 2005.

IPKW Buybacks are an American obsession. IPKW exports the screen: non-US companies that actually shrank their share count by 5% or more in their latest fiscal year, roughly 160 of them, in one ticker.

Stated mandate

EFG The fund seeks to track an index of developed-market equities outside the United States and Canada that exhibit growth characteristics.

IPKW The fund tracks an index of common stocks of foreign companies that satisfy the requirements for classification as BuyBack AchieversTM.

Why people hold it

EFG MSCI ranks EAFE companies on five growth measures (forward and past EPS growth, internal growth rate, sales-per-share trend) and keeps the top scorers. No manager hunches.msci.com
0.34% a year, under the 0.41% median for international factor ETFs, on a mandate iShares has run since 2005.
A multi-billion-dollar fund that trades actively, and it has tracked its stated index closely.
Roughly 400 names spread across Europe, Australasia and the Far East, so the growth bet is a broad one.cboe.com

IPKW The overseas counterpart to Invesco's US buyback fund: same core test, non-US companies. A niche corner of the ETF shelf that few issuers bother to fill.invesco.com
The rule is checkable, not a black box: a net 5% cut in shares outstanding in the latest fiscal year, plus $250M minimum market cap and $1M average daily dollar volume.sec.gov nasdaq.com
Spread across roughly 160 names instead of a handful of big repurchasers, with distributions paid quarterly.
Running since 2014, so the strategy has a decade-plus of live track record behind it rather than a backtest.

Worth knowing

EFG The growth index is about half the parent EAFE index by free-float market value. The value half sits elsewhere, so this is one style, not all of developed international.cboe.com
Growth swings harder. Several peers in this cohort (EFAV, ACWV, QLVD) are engineered to damp volatility; EFG is not, and its risk profile is the choppier side of the group.
Holdings trade in yen, euros, pounds and other currencies, so moves in the dollar feed straight into what a US investor sees.ishares.com

IPKW 0.55% a year is a premium price in factor land, where broad peers like MGV (0.05%) and SIZE (0.15%) charge a sliver of that.
The screen looks backward. It rewards repurchases already booked in the last fiscal year, and the roster only changes on the index's scheduled rebalance dates.sec.gov nasdaq.com
It trades lightly next to mainstream international funds, so spreads and order type carry more weight at the point of trade.

Full EFG profile⁠

Full IPKW profile⁠

EFG vs IPKW Holdings

How EFG and IPKW differ

Overlap by weight

2.4%

Shared holdings make up 22.5% of IPKW and 2.4% of EFG.

Level by level

Holdings10 in both2.4%
Countryby domicile59.1%
Sector11 Sectors68.8%
Asset classEquity100%

Sector

Sector weights in EFG and IPKW, widest gap first
Sector	More in EFGMore in IPKW	EFG	IPKW
Technology	EFG +13.6 points	19.0%	5.4%
Financials	IPKW +12.4 points	12.1%	24.5%
Energy	IPKW +11.2 points	0.6%	11.8%
Industrials	EFG +8.7 points	27.8%	19.1%
Health Care	EFG +8.7 points	14.0%	5.3%
Consumer Discretionary	IPKW +2.7 points	10.2%	12.9%
Materials	IPKW +1.8 points	5.9%	7.7%
Utilities	IPKW +1.1 points	1.8%	2.9%
Communication	IPKW +0.9 points	4.0%	4.9%
Consumer Staples	IPKW +0.9 points	4.2%	5.1%
Real Estate	EFG +0.2 points	0.5%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in EFG and IPKW, widest gap first
Country	More in EFGMore in IPKW	EFG	IPKW
United Kingdom	IPKW +10.7 points	13.1%	23.8%
Germany	EFG +9.0 points	9.2%	0.2%
China	IPKW +7.1 points	0.0%	7.1%
Australia	EFG +6.4 points	7.0%	0.6%
Japan	IPKW +5.7 points	24.7%	30.4%
France	EFG +5.2 points	9.1%	3.9%
Sweden	EFG +4.8 points	5.4%	0.6%
Canada	IPKW +4.5 points	0.0%	4.5%
Other countries (21)	EFG +2.5 points	31.5%	29.0%

Outside the US: EFG 99% developed, 1% emerging. IPKW 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

EFG21.3%
IPKW44.4%

Securities held

EFG347
IPKW174

Asset class

EFG: Equity
IPKW: Equity

Holdings

Only in EFG337
In both10
Only in IPKW164

Only in EFG

337 securities, 97.0% of EFG by weight

Asml Holding5.82%
Astrazeneca PLC2.68%
Sap2.27%
Commonwealth Bank of Australia1.87%
Advantest1.54%
Recruit Holdings Ltd1.53%
Ubs Group AG1.41%
Sony Group1.39%
Schneider Electric1.39%
Hitachi1.36%
Rolls-Royce Holdings PLC1.32%
Tokyo Electron1.28%
Abb Ltd1.27%
Novo Nordisk Class B1.22%
Airbus Group1.21%
Roche Ps Par AG1.15%
Siemens Energy N AG1.04%
Compagnie Financiere Richemont SA1.03%
Safran SA1.01%
Aia Group0.96%
Glaxosmithkline0.95%
Deutsche Telekom N AG0.94%
Kioxia Holdings0.94%
Keyence0.89%
Fast Retailing0.83%
Spotify Technology0.83%
Itochu0.78%
Lair Liquide Societe Anonyme Pour0.78%
Bae Systems PLC0.77%
Dbs Group Holdings Ltd0.73%
Loreal SA0.72%
Investor Class B0.71%
Siemens N AG0.71%
Infineon Technologies AG0.70%
Anheuser-Busch Inbev SA0.69%
Bhp Group Ltd0.68%
Relx PLC0.67%
Mitsubishi Heavy Industries0.66%
Industria De Diseno Textil SA0.65%
Glencore PLC0.62%
Deutsche Boerse AG0.62%
Macquarie Group Ltd Def0.62%
Tokio Marine Holdings0.61%
Wesfarmers0.58%
Essilorluxottica SA0.57%
Nintendo0.55%
Compass Group PLC0.55%
Vinci SA0.54%
Banco Santander0.54%
Argenx0.54%

Only in IPKW

164 securities, 77.1% of IPKW by weight

Shell PLC6.42%
Mitsubishi Corp5.37%
ING Groep NV4.72%
Meituan4.64%
Societe Generale SA3.64%
Equinor ASA3.46%
Honda Motor Co Ltd2.81%
Vodafone Group PLC2.73%
AIB Group PLC2.43%
ArcelorMittal SA2.35%
JD.com Inc2.34%
Imperial Brands PLC2.32%
Canon Inc2.17%
Kyocera Corp1.60%
Banco de Sabadell SA1.54%
International Consolidated Airlines Group SA1.49%
Japan Post Holdings Co Ltd1.44%
CGI Inc1.26%
AP Moller - Maersk A/S1.16%
Nippon Yusen KK0.94%
Smiths Group PLC0.91%
Pearson PLC0.86%
AtkinsRealis Group Inc0.80%
T&D Holdings Inc0.78%
Toray Industries Inc0.62%
Jyske Bank A/S0.62%
DCC Energy plc0.59%
Iss A/S0.57%
Meritz Financial Group Inc0.53%
Autotrader Group PLC0.49%
Tamarack Valley Energy Ltd0.46%
Nippon Express Holdings Inc0.46%
Glanbia PLC0.44%
Open Text Corp0.42%
Air Canada0.41%
Dyno Nobel Ltd0.40%
Grupo Financiero Inbursa SAB de CV0.37%
FLSmidth & Co A/S0.36%
Drax Group PLC0.34%
Vend Marketplaces ASA0.34%
Baytex Energy Corp0.34%
Berkeley Group Holdings PLC/The0.34%
TISI Inc0.30%
Catcher Technology Co Ltd0.30%
QinetiQ Group PLC0.29%
JET2 PLC0.28%
Plus500 Ltd0.27%
Inchcape PLC0.26%
Charoen Pokphand Foods PCL0.26%
Oji Holdings Corp0.26%

Weight gaps

All 10 Holdings in both funds, largest gap first.

Holding weights in EFG and IPKW, widest gap first
Holding	More in EFGMore in IPKW	EFG	IPKW
Standard Chartered PLCSTAN.L	IPKW +4.56 points	0.16%	4.72%
Novartis AG	IPKW +3.75 points	0.99%	4.74%
Shin Etsu Chemical	IPKW +3.51 points	0.38%	3.89%
Sompo Holdings	IPKW +2.14 points	0.12%	2.26%
Geberit AG	IPKW +1.82 points	0.14%	1.96%
Seven & I Holdings	IPKW +1.49 points	0.24%	1.73%
Tenaris SA	IPKW +0.92 points	0.09%	1.01%
Centrica PLCCNA.L	IPKW +0.80 points	0.09%	0.89%
Tokyo Gas Ltd	IPKW +0.59 points	0.12%	0.70%
Taisei	IPKW +0.51 points	0.10%	0.61%

All 348 EFG holdings⁠All 174 IPKW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EFG vs IPKW Cost

Overpaying IPKW vs EFG

$3,972

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EFG 0.34%
$6,932
IPKW 0.55%
$10,904

Amount$10,000

Years30 years

Cost over time

EFG 0.34%
IPKW 0.55%
Overpaying

Year by year

Year	EFG	IPKW	Overpaying
10	$616	$988	$372
20	$2,386	$3,790	$1,404
30	$6,932	$10,904	$3,972

Expense ratio

0.34%EFG, cheaper
0.55%IPKW

EFG0.34%IPKW0.55%

0.08%0.65%

Middle half of International Factor Index funds
Median 0.34%

EFG 8th cheapest of 15 funds

IPKW 11th cheapest of 15 funds

EFG vs IPKW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EFG 2.35%; IPKW 3.35%, better
Payout (12M): EFG $2.79; IPKW $2.00
Last payment: EFG $0.98; IPKW $0.25
Ex-dividend: EFG Jun 15, 2026; IPKW Sep 21, 2026
Paid on: EFG Jun 18, 2026; IPKW Sep 25, 2026
Frequency: EFG Twice a year; IPKW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFGTwice a year · 20 paymentsAll EFG payments⁠

IPKWQuarterly · 38 paymentsAll IPKW payments⁠

EFG vs IPKW Risk

Fall from peak · 5 years

EFG
IPKW

Risk facts

VolatilityStd dev, 3 years: EFG 13.8%IPKW 12.1%, better
Return per unit of riskSharpe ratio, 3 years: EFG 0.71IPKW 1.61, better
Worst fallMax drawdown, 5 years: EFG −35.5%IPKW −29.6%, better
Market sensitivityBeta, 5 years: EFG 0.96IPKW 0.65; Market = 1

EFG and IPKW in the news

All news⁠

New ETFs
Healthcare is 31% of Invesco's new QQI fund
Oct 5, 2026EFG

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