ACSI vs PBUS: Grades, Fees and Holdings Compared

American Customer Satisfaction ETF

ACSIDCboe

Invesco MSCI USA ETF

PBUSACboe

Overlap

25.9%by weight

Expense ratio

PBUS −0.61pt a year

ACSI0.65%PBUS0.04%

Avg volume · 30D

PBUS 1252.1×the volume

ACSI346PBUS433K

5Y return · a year

PBUS +2.9pt

ACSI+8.6%PBUS+11.5%

ACSI vs PBUS Performance

Oct 29, 2021 – Oct 30, 2026

+51.1%ACSI+72.6%PBUS

Expense ratio: ACSI 0.65%; PBUS 0.04%, better
Fund size: ACSI $115M; PBUS $10.5B
1Y total return: ACSI +14.9%, better; PBUS +11.5%
Yield (12M): ACSI 0.80%; PBUS 1.02%, better
Holdings: ACSI 32; PBUS 517
Avg volume (30D): ACSI 346 sh; PBUS 433K sh, better
NAV per share: ACSI $75.65; PBUS $75.71
52W range

ETF.net Grade

Pillar letters and Scores for ACSI, PBUS, with each pillar’s weight
Pillar	ACSI	PBUS
Cost30% weight	F13	A98Higher
Mission25% weight	C48	A100Higher
Risk15% weight	A75Higher	B63
Tradability15% weight	F23	A86Higher
Holdings10% weight	D36	C50Higher
Durability5% weight	C54	A74Higher

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. ACSI and PBUS are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds

See all 42 ›

PBUS ranks 3rd and ACSI 31st of 42 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 3APBUSInvesco MSCI USA ETFScore 85
Rank 4AVOOVVanguard S&P 500 Value ETFScore 79
Rank 30DFLAGGlobal X S&P 500 U.S. Market Leaders Top 50 ETFScore 39
Rank 31DACSIAmerican Customer Satisfaction ETFScore 37
Rank 31DGVIPGoldman Sachs Hedge Industry VIP ETFScore 37

Our read on each fund

ETF.net Research

ACSIDAmerican Customer Satisfaction ETF

PBUSAInvesco MSCI USA ETF

In short

ACSI Most index funds rank stocks by size or price. This one ranks them by how happy the customers are, turning the long-running American Customer Satisfaction Index survey data into a concentrated basket of roughly 40 US stocks.

PBUS Roughly 500 US stocks for 0.04% a year, benchmarked to the MSCI USA Index instead of the S&P 500. Invesco's rules-based core holding, running since 2017.

Stated mandate

ACSI The Fund passively tracks the American Customer Satisfaction Investable Index before fees and expenses. The index selects U.S.-listed companies using customer-satisfaction data and a rules-based methodology.

PBUS The Fund tracks the MSCI USA Index and commits at least 90% of its assets to securities included in that index.

Why people hold it

ACSI The screen is survey data, not the balance sheet. Index rules select US-listed companies using customer-satisfaction scores, an input you will not find in a standard value or momentum sort.
The data predates the fund by decades. The ACSI has run customer interviews through a University of Michigan econometric model since 1994, covering ten sectors of the US economy.theacsi.org umich.edu
Rules-based and passive: the index picks, not a manager's gut. The fund has been running this same mandate since its 2016 launch, so the idea has been tested in live markets.

PBUS 0.04% a year sits at the floor of its peer group, matching SPYV and a hair above SCHK's 0.03%.invesco.com
Returns have hugged the MSCI USA Index about as tightly as anything in its cohort, so index-level exposure arrives with very little slippage.
A multi-billion-dollar fund trading since 2017, with a real market cycle behind it rather than a launch-window track record.
Roughly 500 names and quarterly distributions: a plain broad-market wrapper with no options overlay, no leverage, no sector tilt bolted on.

Worth knowing

ACSI At 0.65% a year it runs above the 0.45% median for index-tracking funds in its group, and many times the cost of plain broad-market trackers like SCHK at 0.03%.
It trades thinly next to mainstream index funds, so spreads can widen and the price on screen can sit away from the value of what is inside.
About 40 holdings means each name carries real weight, and a satisfaction screen can land the sector mix well away from a broad US market fund. Distributions come once or twice a year.

PBUS MSCI USA is not the S&P 500. Holdings and results drift from an S&P-benchmarked portfolio, which matters if that is the yardstick you track against.invesco.com
The mandate commits at least 90% of assets to index securities, which leaves a slice of room outside the benchmark.
Moderately traded rather than one of the tape's busiest tickers, so spreads deserve a glance and limit orders earn their keep.

Full ACSI profile⁠

Full PBUS profile⁠

ACSI vs PBUS Holdings

How ACSI and PBUS differ

Overlap by weight

25.9%

Shared holdings make up 86.3% of ACSI and 27.5% of PBUS.

Level by level

Holdings26 in both25.9%
Sector11 Sectors59.0%
Countryby domicile93.2%
Asset classEquity100%

Sector

Sector weights in ACSI and PBUS, widest gap first
Sector	More in ACSIMore in PBUS	ACSI	PBUS
Technology	PBUS +26.1 points	14.1%	40.2%
Consumer Discretionary	ACSI +14.9 points	23.7%	8.8%
Communication	ACSI +13.8 points	23.7%	9.9%
Financials	ACSI +6.0 points	17.0%	11.0%
Health Care	PBUS +4.7 points	4.6%	9.3%
Consumer Staples	ACSI +4.3 points	8.6%	4.3%
Industrials	PBUS +3.5 points	4.4%	7.9%
Energy	PBUS +3.5 points	0.0%	3.5%
Utilities	ACSI +2.0 points	3.8%	1.8%
Real Estate	PBUS +1.6 points	0.0%	1.6%
Materials	PBUS +1.6 points	0.0%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in ACSI and PBUS, widest gap first
Country	More in ACSIMore in PBUS	ACSI	PBUS
United States	PBUS +6.1 points	93.1%	99.2%
Canada	ACSI +3.7 points	3.8%	0.1%
Japan	ACSI +3.1 points	3.1%	0.0%
Other countries (7)	PBUS +0.7 points	0.0%	0.7%

Concentration

Weight in the 10 largest Holdings

ACSI42.2%
PBUS36.6%

Securities held

ACSI31
PBUS515

Asset class

ACSI: Equity
PBUS: Equity

Holdings

Only in ACSI5
In both26
Only in PBUS489

Only in ACSI

5 securities, 13.6% of ACSI by weight

Toronto-Dominion Bank/The3.80%
Texas Roadhouse Inc3.29%
PVH Corp3.15%
Toyota Motor Corp3.08%
First American Government Obligations Fund 12/01/20310.29%

Only in PBUS

489 securities, 72.4% of PBUS by weight

NVIDIA Corp7.39%
Alphabet Inc2.51%
Broadcom Inc2.35%
Tesla Inc1.74%
Eli Lilly & Co1.65%
Micron Technology Inc1.59%
Advanced Micro Devices Inc1.39%
Berkshire Hathaway Inc1.15%
ExxonMobil Holdings Corp1.14%
Visa Inc1.02%
Johnson & Johnson1.00%
Mastercard Inc0.77%
AbbVie Inc0.77%
Palantir Technologies Inc0.64%
Cisco Systems Inc0.64%
Chevron Corp0.64%
Intel Corp0.61%
Procter & Gamble Co/The0.56%
UnitedHealth Group Inc0.56%
Merck & Co Inc0.54%
Applied Materials Inc0.50%
Philip Morris International Inc0.49%
General Electric Co0.49%
Lam Research Corp0.48%
Palo Alto Networks Inc0.47%
Caterpillar Inc0.45%
Texas Instruments Inc0.43%
Goldman Sachs Group Inc/The0.41%
RTX Corp0.40%
Thermo Fisher Scientific Inc0.40%
Crowdstrike Holdings Inc0.39%
Wells Fargo & Co0.39%
Amgen Inc0.37%
International Business Machines Corp0.36%
Oracle Corp0.36%
GE Vernova Inc0.36%
Linde PLC0.35%
Morgan Stanley0.34%
KLA Corp0.33%
Citigroup Inc0.32%
Analog Devices Inc0.32%
Gilead Sciences Inc0.31%
Amphenol Corp0.30%
Sandisk Corp0.30%
Arista Networks Inc0.30%
QUALCOMM Inc0.29%
Walt Disney Co/The0.29%
Marvell Technology Inc0.28%
Salesforce Inc0.28%
ConocoPhillips0.27%

Weight gaps

All 26 Holdings in both funds, largest gap first.

Holding weights in ACSI and PBUS, widest gap first
Holding	More in ACSIMore in PBUS	ACSI	PBUS
Humana IncHUM	ACSI +4.25 points	4.33%	0.08%
Dell Technologies IncDELL	ACSI +3.46 points	3.67%	0.21%
Ulta Beauty IncULTA	ACSI +3.26 points	3.30%	0.04%
Verizon Communications IncVZ	ACSI +3.06 points	3.33%	0.27%
Hilton Worldwide Holdings IncHLT	ACSI +3.05 points	3.17%	0.12%
T-Mobile US IncTMUS	ACSI +3.04 points	3.15%	0.11%
Yum! Brands IncYUM	ACSI +3.04 points	3.10%	0.06%
Charles Schwab Corp/TheSCHW	ACSI +2.96 points	3.18%	0.22%
FedEx CorpFDX	ACSI +2.80 points	2.90%	0.10%
Home Depot Inc/TheHD	ACSI +2.80 points	3.29%	0.49%
AT&T IncT	ACSI +2.78 points	3.00%	0.22%
Bank of America CorpBAC	ACSI +2.74 points	3.24%	0.50%
Delta Air Lines IncDAL	ACSI +2.71 points	2.73%	0.02%
Coca-Cola Co/TheKO	ACSI +2.60 points	3.14%	0.54%
Costco Wholesale CorpCOST	ACSI +2.46 points	3.13%	0.67%
Walmart IncWMT	ACSI +2.45 points	3.25%	0.80%
Netflix IncNFLX	ACSI +2.41 points	2.80%	0.39%
JPMorgan Chase & Co.JPM	ACSI +2.16 points	3.53%	1.37%
Meta Platforms IncMETA	ACSI +1.88 points	3.94%	2.06%
Alphabet IncGOOG	ACSI +1.68 points	3.67%	1.99%
Atmos Energy CorpATO	ACSI +1.45 points	1.49%	0.04%
SempraSRE	ACSI +1.41 points	1.49%	0.08%
NextEra Energy IncNEE	ACSI +1.24 points	1.50%	0.26%
Microsoft CorpMSFT	PBUS +1.14 points	4.49%	5.63%
Amazon.com IncAMZN	ACSI +0.66 points	4.21%	3.55%
Apple IncAAPL	PBUS +0.46 points	7.25%	7.71%

All 36 ACSI holdings⁠All 515 PBUS holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACSI vs PBUS Cost

Overpaying ACSI vs PBUS

$11,868

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ACSI 0.65%
$12,717
PBUS 0.04%
$849

Amount$10,000

Years30 years

Cost over time

ACSI 0.65%
PBUS 0.04%
Overpaying

Year by year

Year	ACSI	PBUS	Overpaying
10	$1,163	$73	$1,090
20	$4,440	$288	$4,152
30	$12,717	$849	$11,868

Expense ratio

0.65%ACSI
0.04%PBUS, cheaper

PBUS0.04%ACSI0.65%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

PBUS 2nd cheapest of 42 funds

ACSI 36th cheapest of 42 funds

ACSI vs PBUS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACSI 0.80%; PBUS 1.02%, better
Payout (12M): ACSI $0.61; PBUS $0.77
Last payment: ACSI $0.61; PBUS $0.19
Ex-dividend: ACSI Dec 24, 2025; PBUS Sep 21, 2026
Paid on: ACSI Dec 26, 2025; PBUS Sep 25, 2026
Frequency: ACSI Annual; PBUS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ACSIAnnual · 9 paymentsAll ACSI payments⁠

PBUSQuarterly · 36 paymentsAll PBUS payments⁠

ACSI vs PBUS Risk

Fall from peak · 5 years

ACSI
PBUS

Risk facts

VolatilityStd dev, 3 years: ACSI 11.8%, betterPBUS 12.5%
Return per unit of riskSharpe ratio, 3 years: ACSI 1.30PBUS 1.41, better
Worst fallMax drawdown, 5 years: ACSI −24.9%, betterPBUS −25.4%
Market sensitivityBeta, 5 years: ACSI 0.83PBUS 1.02; Market = 1

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