Summary
PKW Chart
PKW: Low P/E Financials-Heavy Portfolio With An Upside Capture Problem, A Hold
I believe the Invesco Dynamic Buyback Achievers ETF is a Hold owing to its mixed performance and unappealing factor mix, which I expect to detract from its returns. PKW's financials-heavy portfolio has a high weighted average earnings yield and relatively low beta, a combination that is not supportive of alpha. PKW has underperformed IVV since the "methodology enhancement" in February 2025, mainly because of its weak upside capture.
PKW: Mixed Feelings About Invesco's Long-Running Buyback ETF
Invesco Buyback Achievers ETF is upgraded from 'sell' to 'hold' due to improving value ETF fundamentals, despite skepticism about its buyback-driven strategy. PKW's methodology—adding/removing stocks based on a 5% buyback yield—misaligns with long-term company strategies, leading to questionable execution. PKW's fundamentals, including accelerating EPS growth and discounted P/E, are competitive but slightly lag peers in quality and growth metrics.
This $1.5 Billion ETF Targets Companies Actually Reducing Share Counts, Not Just Talking About It
Share buybacks have become one of corporate America's favorite ways to return cash to shareholders.
Invesco BuyBack Achievers ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 5,505 | $591,619.82 | $820,189.95 | $228,570.13 | 38.63% |
 Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 9,004 | $1.14M | $1.32M | $187,354.08 | 16.49% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 44,227 | $6.27M | $6.6M | $336,991.56 | 5.38% |
 Means Investment Company Means Investment Company Inc. | 3,237 | $174,845.38 | $491,844.02 | $316,998.64 | 181.3% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 451 | $49,877.48 | $67,698.12 | $17,820.64 | 35.73% |
Invesco BuyBack Achievers ETF (PKW) FAQ
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Does it pay dividends? What is the current yield?
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Invesco BuyBack Achievers ETF Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
The company operates an investment fund that primarily focuses on investment strategies aligned with the NASDAQ's selection criteria for "BuyBack Achievers TM." It dedicates at least 90% of its total assets to securities included within the underlying index. These securities are chosen based on a proprietary selection methodology, which seeks to identify companies with a strong history of share buybacks. The rigorous selection process aims to include companies that have demonstrated a commitment to returning value to shareholders through consistent share repurchase programs.
Products and Services
- Investment in BuyBack Achievers TM
This service revolves around investing in companies that are part of the "BuyBack Achievers TM" index. These are companies that have been identified through a proprietary methodology for having robust share repurchase programs. Investing in these companies aims to leverage the potential market performance associated with firms that actively buy back their shares, theoretically signaling confidence in their own future and potentially leading to higher stock prices.
- Proprietary Selection Methodology
The fund utilizes a unique selection methodology to identify and include securities in its portfolio. This methodology is designed to assess companies based on specific criteria related to their share repurchase activities. The focus is on companies that not only buy back their shares but also meet other financial health indicators, creating a portfolio of securities that is expected to perform well based on the underlying index's strategy.
