I'm not exactly an expert on the subject but I believe that the further from the riser the sight is the more accurate it will be. That is with all things being equal, a lot of things effect accuracy. I think it's like comparing pistol sights vs. rifle sights.
For hunting bows they are usually closer to the riser to protect them from damage in the field. Ever get your sight caught up in a bush or branch?

"Hunt smart, know your target and beyond"