PBUS vs USMV
Invesco MSCI USA ETF vs iShares MSCI USA Minimum Volatility Factor ETF
Which is better, PBUS or USMV?
PBUS has been ahead.
PBUS has a lower expense ratio. PBUS led over 1Y, 3Y, 5Y and the full window. USMV is less concentrated, with 15.2% of the fund in its ten largest positions against 38.2%.
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 | PBUS | USMV |
|---|---|---|
| Expense Ratio | 0.04%Best | 0.15% |
| AUM | $10.8B | $23.8B |
| Dividend Yield | 1.01% | 1.45% |
| Holdings | 1,048 | 178 |
| YTD Return | +12.43%Best | +7.90% |
| 1Y Return | +15.79%Best | +7.14% |
| 3Y Return (annualized) | +22.02%Best | +12.56% |
| 5Y Return (annualized) | +12.54%Best | +7.48% |
| Volatility (annualized) | 15.9% | 12.9%Best |
| Max Drawdown | -33.2% | -33.1%Best |
| $10,000 over 5 years | $18,052Best | $14,343 |
| Top 10 Weight | 38.2% | 15.2%Best |
| Fund Family | Invesco (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 22, 2017 | Oct 18, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2017 to Oct 14, 2026 (9.1 years).
PBUS vs USMV 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 9.1 years both funds cover.
PBUS vs USMV Performance
Invesco MSCI USA ETF (PBUS) is an ETF from Invesco (US) and iShares MSCI USA Minimum Volatility Factor ETF (USMV) is an ETF from iShares by BlackRock (US). Over the past year PBUS returned +15.79% while USMV returned +7.14%. Year to date, PBUS is up 12.43% versus a gain of 7.90% for USMV.
Over three years, PBUS compounded at +22.02% per year against +12.56% for USMV; over five years the annualized figures are +12.54% and +7.48% respectively. Across the full 9-year window we track, PBUS has the edge at +14.84% annualized vs +8.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBUS has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 12.9% for USMV. 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 -33.2% for PBUS and -33.1% for USMV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBUS charges 0.04% per year while USMV charges 0.15%. On a $10,000 position that is $4 vs $15 annually, a gap of $11 per year that compounds over a long holding period. On income, PBUS currently yields 1.01% against 1.45% for USMV.
Holdings Overlap
68.3% of PBUS's money is in holdings USMV also owns. 99.7% of USMV's money is in holdings PBUS also owns.
Most of USMV is already inside PBUS. Owning both mostly buys the same companies twice.
173 positions in common, counted across the 509 positions we hold weights for in PBUS and 176 in USMV, against full books of 1,048 and 178.
What only one of them owns
Our book lists 3 positions for USMV that do not appear in our book for PBUS (0.2% of the fund), and 326 for PBUS that do not appear in USMV (31.4%).
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 PBUS | Weight in USMV | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.08% | 1.64% | 6.44% |
| AAPLApple, Inc | 7.36% | 0.96% | 6.40% |
| MSFTMicrosoft Corp | 5.48% | 1.64% | 3.84% |
| AMZNAmazon.Com Inc | 3.65% | 0.13% | 3.52% |
| AVGOBroadcom Inc | 2.41% | 0.91% | 1.50% |
| GOOGAlphabet Inc. C | 2.39% | 0.38% | 2.01% |
| MUMicron Technology, Inc. | 1.82% | 0.86% | 0.96% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.06% | 1.45% | 0.39% |
| METAMeta Platforms Inc | 2.40% | 0.10% | 2.30% |
| XOMExxonmobil Corp. | 1.02% | 1.48% | 0.46% |
99.7% of USMV 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, PBUS or USMV?
PBUS has an expense ratio of 0.04% while USMV charges 0.15%. PBUS is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, PBUS or USMV?
Over the past year PBUS returned +15.79% vs +7.14% for USMV, so PBUS leads on 1-year performance. Over the longest common window we track (9 years), PBUS annualized +14.84% vs +8.96% for USMV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBUS or USMV?
PBUS has been the more volatile fund at 15.9% annualized versus 12.9% for USMV. Worst drawdown: PBUS -33.2% vs USMV -33.1%.
Should I hold both PBUS and USMV?
PBUS and USMV have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PBUS and USMV?
99.7% of USMV's money is in holdings PBUS also owns. 99.7% of USMV's is in holdings PBUS also owns. They hold 173 positions in common, counted across the 509 positions we hold weights for in PBUS and 176 in USMV.
Which pays a higher dividend, PBUS or USMV?
PBUS yields 1.01% while USMV yields 1.45%, so USMV currently pays the higher dividend yield.
Is USMV better than PBUS?
PBUS has a lower expense ratio. PBUS led over 1Y, 3Y, 5Y and the full window. USMV is less concentrated, with 15.2% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.