INRO vs PBUS
iShares US Industry Rotation Active ETF vs Invesco MSCI USA ETF
Which is better, INRO or PBUS?
Nearly the same fund. PBUS costs less.
PBUS has a lower expense ratio. INRO led over 1Y, PBUS over the full window. The two have moved almost in lockstep, correlation 0.98. PBUS is less concentrated, with 37.3% of the fund in its ten largest positions against 38.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | INRO | PBUS |
|---|---|---|
| Expense Ratio | 0.42% | 0.04%Best |
| AUM | $416M | $11.4B |
| Dividend Yield | 0.59% | 1.00% |
| Holdings | 296 | 1,048 |
| YTD Return | +16.58%Best | +13.76% |
| 1Y Return | +19.83%Best | +17.02% |
| 3Y Return (annualized) | - | +22.52% |
| 5Y Return (annualized) | - | +13.16% |
| Volatility (annualized) | 12.9% | 12.1%Best |
| Max Drawdown | -20.0% | -19.1%Best |
| $10,000 over 2.5 years | $15,023 | $15,055Best |
| Top 10 Weight | 38.5% | 37.3%Best |
| Fund Family | BlackRock, Inc. (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 26, 2024 | Sep 22, 2017 |
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 28, 2024 to Oct 13, 2026 (2.5 years).
INRO vs PBUS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.5 years both funds cover.
INRO vs PBUS Performance
iShares US Industry Rotation Active ETF (INRO) is an ETF from BlackRock, Inc. (US) and Invesco MSCI USA ETF (PBUS) is an ETF from Invesco (US). Over the past year INRO returned +19.83% while PBUS returned +17.02%. Year to date, INRO is up 16.58% versus a gain of 13.76% for PBUS.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
INRO has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 12.1% for PBUS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.0% for INRO and -19.1% for PBUS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
INRO charges 0.42% per year while PBUS charges 0.04%. On a $10,000 position that is $42 vs $4 annually, a gap of $38 per year that compounds over a long holding period. On income, INRO currently yields 0.59% against 1.00% for PBUS.
Holdings Overlap
94.5% of INRO's money is in holdings PBUS also owns. 82.2% of PBUS's money is in holdings INRO also owns.
Most of INRO is already inside PBUS. Owning both mostly buys the same companies twice.
230 positions in common, counted across the 293 positions we hold weights for in INRO and 515 in PBUS, against full books of 296 and 1,048.
What only one of them owns
Our book lists 275 positions for PBUS that do not appear in our book for INRO (17.4% of the fund), and 54 for INRO that do not appear in PBUS (4.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in INRO | Weight in PBUS | Difference |
|---|---|---|---|
| AAPLApple, Inc | 8.28% | 7.38% | 0.90% |
| NVDANvidia Corp | 7.60% | 7.60% | 0.00% |
| MSFTMicrosoft Corp | 5.68% | 5.29% | 0.39% |
| AMZNAmazon.Com Inc | 3.79% | 3.76% | 0.03% |
| GOOGLAlphabet Inc,class A | 2.93% | 3.01% | 0.08% |
| GOOGAlphabet Inc. C | 2.22% | 2.37% | 0.15% |
| AVGOBroadcom Inc | 2.02% | 2.47% | 0.45% |
| METAMeta Platforms Inc | 2.05% | 2.15% | 0.10% |
| JPMJpmorgan Chase | 2.21% | 1.43% | 0.78% |
| MUMicron Technology, Inc. | 1.71% | 1.67% | 0.04% |
94.5% of INRO is already inside PBUS.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, INRO or PBUS?
INRO has an expense ratio of 0.42% while PBUS charges 0.04%. PBUS is the cheaper option, by $38 a year on a $10,000 investment.
Which performed better, INRO or PBUS?
Over the past year INRO returned +19.83% vs +17.02% for PBUS, so INRO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INRO or PBUS?
INRO has been the more volatile fund at 12.9% annualized versus 12.1% for PBUS. Worst drawdown: INRO -20.0% vs PBUS -19.1%.
Should I hold both INRO and PBUS?
INRO and PBUS have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between INRO and PBUS?
94.5% of INRO's money is in holdings PBUS also owns. 82.2% of PBUS's is in holdings INRO also owns. They hold 230 positions in common, counted across the 293 positions we hold weights for in INRO and 515 in PBUS.
Which pays a higher dividend, INRO or PBUS?
INRO yields 0.59% while PBUS yields 1.00%, so PBUS currently pays the higher dividend yield.
Is PBUS better than INRO?
PBUS has a lower expense ratio. INRO led over 1Y, PBUS over the full window. The two have moved almost in lockstep, correlation 0.98. PBUS is less concentrated, with 37.3% of the fund in its ten largest positions against 38.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.