Invesco PowerShares listed an ETF this week that provides exposure to a portfolio of international companies with a demonstrated track record of stock buybacks.

The PowerShares International BuyBack AchieversTM Portfolio (IPKW) tracks an index of companies that have effected a net reduction of 5% or more of their outstanding shares in their most recent fiscal year, and have met additional criteria.

According to Invesco PowerShares, the buyback methodology is generally more tax-efficient relative to dividend payments and may provide investors enhanced total shareholder return.

The Fund includes common stocks of foreign companies classified as International BuyBack Achievers in accordance with the NASDAQ OMX Group, Inc. proprietary selection methodology. The Fund will generally invest in all of the securities comprising the Underlying Index, is rebalanced quarterly in January, April, July and October. The Fund has an expense ratio of 0.55%.

Invesco PowerShares also sponsors the US-focused PowerShares BuyBack Achievers Portfolio (PKW).

For more investing choices, see the list of Strategy ETFs.