PKW - Invesco BuyBack Achievers ETF: The Results Speak For Themselves

• PKW has a multi-year track record of consistently outperforming the benchmark index across different cycles.
• PKW’s current portfolio of stocks is dominated by names that managed to keep up the buyback momentum at a time when most US companies had stopped their buyback programs.
• US companies currently have relatively superior cash stockpiles ($3 tn) vs. the pre-pandemic phase, and already $300bn worth of buyback plans have been announced in 2021 (vs $130bn in 2020).
• PKW’s largest weight is towards financial stocks and the Fed is poised to lift buyback restrictions for banks on June 30, 2021.
• The price action of PKW feels very stretched.

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