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MGV vs PKW

Vanguard Morningstar Mega Cap Value ETF

MGVANYSE Arca

Invesco BuyBack Achievers ETF

PKWDNasdaq

Overlap

Expense ratio

MGV −0.58pt a year

MGV0.05%PKW0.63%

Avg volume · 30D

MGV 8.5×the volume

MGV247KPKW29K

10Y return · a year

PKW +0.4pt

MGV+13.3%PKW+13.7%

MGV vs PKW Performance

Oct 29, 2021 – Oct 30, 2026

+83.6%MGV+68.3%PKW

Oct 29, 2021 to Oct 30, 2026. MGV +83.6%. PKW +68.3%. Use the arrow keys to read each point.−20%0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
MGV 0.05%, better
PKW 0.63%
Fund size
MGV $13.6B
PKW $1.77B
1Y total return
MGV +25.6%, better
PKW +16.9%
Yield (12M)
MGV 1.82%, better
PKW 0.64%
Holdings
MGV 117
PKW 287
Avg volume (30D)
MGV 247K sh, better
PKW 29K sh
NAV per share
MGV $168.92
PKW $150.53
52W range

ETF.net Grade

MGV: Cost 100, Risk 92, Mission 67, Tradability 49, Holdings 57, Durability 90. PKW: Cost 0, Risk 67, Mission not scored, Tradability 66, Holdings 38, Durability 60.
Pillar letters and Scores for MGV, PKW, with each pillar’s weight
PillarMGVPKW
Cost30% weightA100HigherF0
Mission25% weightB67Not scored
Risk15% weightA92HigherB67
Tradability15% weightC49B66Higher
Holdings10% weightB57HigherD38
Durability5% weightA90HigherB60

Rank among US Factor Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MGV and PKW are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds
See all 30 ›

MGV ranks 1st and PKW 23rd of 30 funds in the US Factor Index Category.

  1. Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
  2. Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
  3. Rank 22DHAPSHarbor Human Capital Factor US Small Cap ETFScore 37
  4. Rank 23DPKWInvesco BuyBack Achievers ETFScore 35
  5. Rank 24DUPGDInvesco Bloomberg Analyst Rating Improvers ETFScore 34

Our read on each fund

ETF.net Research

MGVAVanguard Morningstar Mega Cap Value ETF

PKWDInvesco BuyBack Achievers ETF

In short

MGV Most "value" ETFs slide down into mid caps. MGV stays at the very top of the US market and buys the value half of it for five basis points. Vanguard's plain, cheap way to own the old-guard giants.

PKW A buyback fund with a real bar to clear: companies must have shrunk their net share count by 5% or more over the past year. PKW has tracked that same index since 2006, for 0.63%.

Stated mandate

MGV The ETF seeks to track the Morningstar US Mega Cap Value Index and provides passive, diversified exposure to the largest value stocks in the U.S. market.

PKW The fund seeks exposure to the Nasdaq US BuyBack Achievers Index by normally investing at least 90% of assets in the common stocks comprising that index.

Why people hold it

  • MGV At 0.05% it is the cheapest fund in its factor peer group, where the median charges 0.28%. It undercuts fellow top-rated peers SIZE (0.15%) and SUSA (0.25%).vanguard.com
  • Launched December 2007, straight into the crash, and now a multi-billion-dollar fund. Long history, quarterly distributions, Vanguard plumbing behind it.
  • One of the strongest overall showings in its US factor peer group, built on cost and staying power rather than a clever screen.
  • PKW The screen counts net share reduction, 5% or more over the trailing 12 months, so repurchases cancelled out by fresh stock issuance don't qualify.nasdaqomx.com
  • Roughly 300 names, reconstituted each January and rebalanced quarterly as companies fall off the buyback wagon. Distributions land quarterly.invesco.com
  • Trading since 2006 on an index that launched the same day, and now a multi-billion-dollar fund. A long public track record, not a backtest.nasdaqomx.com
  • Index candidates must also clear a liquidity screen: $500,000 average daily value traded in each of the three months leading into reconstitution.nasdaqomx.com

Worth knowing

  • MGV About 130 names, all mega caps. The biggest holdings carry real weight, and small and mid caps are absent by design.
  • It tracks a Morningstar index of the largest US value stocks, so it leaves out the market's growth giants and can move very differently from a total-market fund.vanguard.com
  • Moderately traded rather than a household-name ticker, so limit orders and mid-session trading matter more here than with the very largest index ETFs.
  • PKW At 0.63%, it sits above the typical US factor fund, and well above index peers like MGV at 0.05% or SIZE at 0.15%.
  • Thinly traded next to the category's heavyweights, so limit orders earn their keep, especially in fast markets.
  • The filter looks backward: it rewards buybacks already completed, and a shrinking share count says nothing about why management chose to shrink it.nasdaqomx.com

Full MGV profile⁠

Full PKW profile⁠

MGV vs PKW 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.

MGV vs PKW Cost

Overpaying PKW vs MGV

$11,299

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

  • MGV 0.05%

    $1,060

  • PKW 0.63%

    $12,359

$10,000
30 years

Cost over time

  • MGV 0.05%
  • PKW 0.63%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530PKW $12,359MGV $1,060

Year by year

YearMGVPKWOverpaying
10$92$1,128$1,036
20$360$4,311$3,951
30$1,060$12,359$11,299

Expense ratio

  • 0.05%MGV, cheaper
  • 0.63%PKW
  • Middle half of US Factor Index funds
  • Median 0.30%

MGV cheapest of 30 funds

PKW 30th cheapest of 30 funds

MGV vs PKW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MGV 1.82%, better
PKW 0.64%
Payout (12M)
MGV $3.07
PKW $0.97
Last payment
MGV $0.72
PKW $0.22
Ex-dividend
MGV Sep 28, 2026
PKW Sep 21, 2026
Paid on
MGV Sep 30, 2026
PKW Sep 25, 2026
Frequency
MGV Quarterly
PKW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MGVQuarterly · 39 paymentsAll MGV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 29, 2017 $0.39; Jun 23, 2017 $0.41; Sep 27, 2017 $0.51; Dec 26, 2017 $0.47; Mar 22, 2018 $0.42; Jun 28, 2018 $0.46; Sep 28, 2018 $0.50; Dec 24, 2018 $0.51; Mar 25, 2019 $0.60; Jun 27, 2019 $0.57; Oct 1, 2019 $0.57; Dec 24, 2019 $0.60; Mar 26, 2020 $0.51; Jun 25, 2020 $0.53; Sep 11, 2020 $0.46; Dec 24, 2020 $0.65; Mar 26, 2021 $0.49; Jun 24, 2021 $0.55; Sep 29, 2021 $0.62; Dec 27, 2021 $0.66; Mar 24, 2022 $0.55; Jun 23, 2022 $0.60; Sep 28, 2022 $0.68; Dec 22, 2022 $0.70; Mar 23, 2023 $0.59; Jun 23, 2023 $0.66; Sep 21, 2023 $0.68; Dec 21, 2023 $0.77; Mar 21, 2024 $0.70; Jun 27, 2024 $0.73; Sep 26, 2024 $0.72; Dec 23, 2024 $0.72; Mar 27, 2025 $0.68; Jun 30, 2025 $0.68; Sep 29, 2025 $0.70; Dec 22, 2025 $0.82; Mar 27, 2026 $0.79; Jun 26, 2026 $0.73; Sep 28, 2026 $0.72. Use the arrow keys to read each point.$0$0.502017202020232026YTD
PKWQuarterly · 38 paymentsAll PKW payments⁠
One bar per payment. 38 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.11; Sep 18, 2017 $0.15; Dec 18, 2017 $0.12; Mar 19, 2018 $0.08; Jun 18, 2018 $0.21; Sep 24, 2018 $0.18; Dec 24, 2018 $0.21; Mar 18, 2019 $0.13; Jun 24, 2019 $0.27; Sep 23, 2019 $0.25; Dec 23, 2019 $0.25; Mar 23, 2020 $0.29; Jun 22, 2020 $0.34; Sep 21, 2020 $0.23; Dec 21, 2020 $0.23; Mar 22, 2021 $0.20; Jun 21, 2021 $0.19; Sep 20, 2021 $0.13; Dec 20, 2021 $0.18; Mar 21, 2022 $0.22; Jun 21, 2022 $0.27; Sep 19, 2022 $0.27; Dec 19, 2022 $0.27; Mar 20, 2023 $0.30; Jun 20, 2023 $0.26; Sep 18, 2023 $0.22; Dec 18, 2023 $0.38; Mar 18, 2024 $0.31; Jun 24, 2024 $0.22; Sep 23, 2024 $0.23; Dec 23, 2024 $0.22; Mar 24, 2025 $0.31; Jun 23, 2025 $0.37; Sep 22, 2025 $0.38; Dec 22, 2025 $0.27; Mar 23, 2026 $0.22; Jun 22, 2026 $0.26; Sep 21, 2026 $0.22. Use the arrow keys to read each point.$0$0.502017202020232026YTD

MGV vs PKW Risk

Fall from peak · 5 years

  • MGV
  • PKW
Oct 29, 2021 to Oct 30, 2026. Worst fall: PKW −23.5% · Sep 2022. Use the arrow keys to read each point.−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
MGV 11.1%, betterPKW 14.5%
Return per unit of riskSharpe ratio, 3 years
MGV 1.48, betterPKW 1.13
Worst fallMax drawdown, 5 years
MGV −16.5%, betterPKW −23.5%
Market sensitivityBeta, 5 years
MGV 0.66PKW 0.82

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