IDLV vs IPKW

IDLVBInvesco S&P International Developed Low Volatility ETF

IPKWCInvesco International BuyBack Achievers ETF

In short

IDLV Screens developed markets for calm instead of size: roughly 200 international large and mid caps chosen by an S&P low volatility index, run on the same rulebook since 2012.

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

IDLV The Fund seeks exposure to large- and mid-cap stocks from international developed markets through the S&P BMI International Developed Low Volatility Index. It invests at least 90% of total assets in securities comprising that Index.

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

• IDLV The low-vol screen is a rule, not a mood. The fund keeps at least 90% of assets in the S&P BMI International Developed Low Volatility Index it advertises.invesco.com
• Holdings line up with the stated mandate: about 200 developed-market large and mid caps, no drift into off-label names.
• Live since 2012, so this is a long-running version of the low-volatility idea abroad, not a freshly launched factor experiment. Distributions come quarterly.

• 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.govnasdaq.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

• IDLV At 0.25% it runs above the cohort median of 0.18%, and well above plain cap-weighted developed peers like VEA and SPDW at 0.03%. The volatility screen is what the extra buys.
• Thinly traded for its category, so limit orders and mid-session trading matter more here than with the giants of developed-markets indexing.
• A volatility screen reshuffles the map: country and sector weights can sit far from a standard developed-markets index, and the fund can lag when riskier stocks lead.

• 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.govnasdaq.com
• It trades lightly next to mainstream international funds, so spreads and order type carry more weight at the point of trade.

Full IDLV profile⁠

Full IPKW profile⁠