PKW - Invesco BuyBack Achievers ETF: Fees And Slow Growth Ruin What Should Be A Solid Product

• PKW holds about 100 U.S.-listed securities that have reduced shares outstanding by 5% or more in the last year, but charges an outrageous 0.64% in fees.
• Dividends are miniscule when using the buyback method for security selection, so PKW is best compared with the S&P 500 or Total Stock Market ETFs.
• I didn't find a compelling reason to recommend PKW today, given how the majority of its holdings are low-growth and trading at higher multiples than other dividend stocks.
• Therefore, investors should avoid PKW for now, but check back in early February after the Index has reconstituted. The sector allocations aren't likely to change, but hopefully, the fund will have better growth prospects.

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