HAUS vs PSR

HAUSCResidential REIT ETF

PSRAInvesco Active U.S. Real Estate ETF

In short

HAUS Owns landlords, not lobbies: apartments, single-family rentals, manufactured-home communities, senior housing. Launched in 2022 as the first active, pure-play US residential real estate ETF, and it still runs a hand-picked book.

PSR Active REIT stock-picking without the active price tag: since 2008, PSR has run a tight book of about 30 US property names for 0.35% a year, roughly half the median fee among active US equity ETFs.

Stated mandate

HAUS The Fund seeks total return.

PSR The Fund seeks high total return through capital appreciation and current income, investing principally in equity real estate investment trusts.

Why people hold it

• HAUS Pure-play by design: each holding must earn the bulk of its revenue from residential property, so cell towers, malls and data centers stay out.businesswire.com
• Costs 0.60% a year, which undercuts the typical actively managed US equity fund in our coverage.
• Active and concentrated at roughly 50 REITs, picked name by name across multifamily, single-family rental, manufactured housing and senior housing.reit.com
• Distributions arrive on a quarterly cadence, funded by rent-driven REIT payouts.

• PSR 0.35% a year against a 0.65% median for active US equity ETFs. Active management without the usual active-management markup.
• Running since 2008, across multiple rate regimes and property cycles, and it sits in the upper half of its active US equity peer group.
• Concentrated by design: about 30 equity REITs, so each holding carries real weight instead of being diluted across the entire property market.invesco.com
• The mandate targets capital appreciation plus current income from equity REITs, and the fund distributes quarterly.invesco.com

Worth knowing

• HAUS Thinly traded with a small asset base, so bid-ask spreads can run wider than they do on the giants of the category.
• One sector, one story: rents, housing supply and rate moves drive it, with no tech or energy holdings to cushion a rough stretch for landlords.
• Broad core equity funds like DFAU and AVLC charge a fraction of this, though they spread across the whole market rather than housing specifically.

• PSR Thinly traded. Spreads can widen and larger orders can move the price more than they would in a heavily traded index fund.
• One sector, one economy: US property. When rates jolt REITs, the portfolio has no other sector to lean on.
• Assets stay modest next to the giant index REIT funds, and smaller ETFs generally face a higher bar to stay open over the long haul.

Full HAUS profile⁠

Full PSR profile⁠