Invesco BuyBack Achievers ETF PKW indirectly favors highly profitable firms through its share repurchasing screen. However, past repurchasing activity doesn't appear to be predictive of future performance after controlling for profitability. There is little to suggest the fund will have a durable edge over the long term, so it earns a Morningstar Analyst Rating of Neutral.
Invesco BuyBack Achievers ETF PKW
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will PKW outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PKW’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PKW management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PKW’s parent organization’s priorities and whether they’re in line with investors’ interests.
Buybacks don't drive stock returns.
