IVE vs PBUS: Grades, Fees and Holdings Compared

iShares S&P 500 Value ETF

IVEANYSE Arca

Invesco MSCI USA ETF

PBUSACboe

Overlap

58.3%by weight

Expense ratio

PBUS −0.14pt a year

IVE0.18%PBUS0.04%

Avg volume · 30D

IVE 1.6×the volume

IVE681KPBUS433K

5Y return · a year

IVE +0.1pt

IVE+11.6%PBUS+11.5%

IVE vs PBUS Performance

Oct 29, 2021 – Oct 30, 2026

+73.0%IVE+72.6%PBUS

Expense ratio: IVE 0.18%; PBUS 0.04%, better
Fund size: IVE $50.7B; PBUS $10.5B
1Y total return: IVE +16.6%, better; PBUS +11.5%
Yield (12M): IVE 1.51%, better; PBUS 1.02%
Holdings: IVE 438; PBUS 517
Avg volume (30D): IVE 681K sh, better; PBUS 433K sh
NAV per share: IVE $239.42; PBUS $75.71
52W range

ETF.net Grade

Pillar letters and Scores for IVE, PBUS, with each pillar’s weight
Pillar	IVE	PBUS
Cost30% weight	B59	A98Higher
Mission25% weight	A87	A100Higher
Risk15% weight	A82Higher	B63
Tradability15% weight	A94Higher	A86
Holdings10% weight	A71Higher	C50
Durability5% weight	A89Higher	A74

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. IVE 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 IVE 7th 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 6AVXFVanguard Extended Market ETFScore 78
Rank 7AIVEiShares S&P 500 Value ETFScore 77
Rank 8ADIAState Street SPDR Dow Jones Industrial Average ETF TrustScore 76

Our read on each fund

ETF.net Research

IVEAiShares S&P 500 Value ETF

PBUSAInvesco MSCI USA ETF

In short

IVE One of the original style-box ETFs, running since 2000. It splits the S&P 500 and keeps the value half, ranked on book value, earnings and sales. A big, heavily traded way to own large-cap value, at a price the newer clones undercut.

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

IVE The fund tracks an index of U.S. large-cap stocks selected for value characteristics using measures including book value, earnings, and sales.

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

IVE Owns the value side of the S&P 500, ranked on book value, earnings and sales. Rules do the picking, not a manager's hunch.ishares.com
Live since 2000 and now a multi-billion-dollar fund. Few value index ETFs have that much runway behind them.
0.18% a year, well under the typical fund in its index-wrapper peer group, and one of the stronger index implementations in that group.
Actively traded, which usually keeps bid-ask spreads slim on retail-sized orders. Distributions land quarterly.

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

IVE Cheaper shelf-mates chase large-cap value too: SPYV at 0.04%, VOOV at 0.07%. The 0.18% here buys the older, more heavily traded name.
Roughly 400 names, the value half of the index, so it can behave quite differently from the full S&P 500 for years at a stretch.
Value is a tilt, not a cushion. This is still all-in US large-cap stock risk.

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 IVE profile⁠

Full PBUS profile⁠

IVE vs PBUS Holdings

How IVE and PBUS differ

Overlap by weight

58.3%

Shared holdings make up 96.5% of IVE and 60.4% of PBUS.

Level by level

Holdings371 in both58.3%
Sector11 Sectors73.2%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in IVE and PBUS, widest gap first
Sector	More in IVEMore in PBUS	IVE	PBUS
Technology	PBUS +19.4 points	20.8%	40.2%
Communication	PBUS +7.4 points	2.5%	9.9%
Consumer Staples	IVE +4.7 points	9.0%	4.3%
Energy	IVE +4.7 points	8.2%	3.5%
Financials	IVE +4.2 points	15.2%	11.0%
Health Care	IVE +4.0 points	13.3%	9.3%
Industrials	IVE +2.9 points	10.8%	7.9%
Utilities	IVE +2.2 points	4.0%	1.8%
Materials	IVE +1.7 points	3.3%	1.6%
Real Estate	IVE +1.5 points	3.1%	1.6%
Consumer Discretionary	IVE +1.0 points	9.8%	8.8%

Country, concentration and asset class

Country by domicile

Country weights in IVE and PBUS, widest gap first
Country	More in IVEMore in PBUS	IVE	PBUS
United States	Same weight	99.2%	99.2%
Switzerland	IVE +0.3 points	0.6%	0.3%
Brazil	PBUS +0.1 points	0.0%	0.1%
United Kingdom	Same weight	0.1%	0.1%
China	Same weight	0.1%	0.1%
Canada	PBUS +0.1 points	0.0%	0.1%
Ireland	IVE +0.1 points	0.1%	0.0%
Mexico	PBUS +0.1 points	0.0%	0.1%
Australia	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

IVE24.3%
PBUS36.6%

Securities held

IVE435
PBUS515

Asset class

IVE: Equity
PBUS: Equity

Holdings

Only in IVE64
In both371
Only in PBUS144

Only in IVE

64 securities, 3.3% of IVE by weight

Elevance Health Inc0.30%
Moderna0.27%
Becton Dickinson0.18%
Vivmark Residential0.15%
Block Class A0.14%
Fiserv Inc0.09%
Viatris0.07%
Southwest Airlines0.07%
Apa0.06%
Ball Corp0.06%
Revvity0.06%
Host Hotels & Resorts Reit0.06%
Charles River Laboratories Interna0.06%
Zebra Technologies Corp Class A0.06%
Hasbro0.05%
Stanley Black & Decker0.05%
Trimble Inc0.05%
Tyler Technologies0.05%
Godaddy Class A0.05%
Gartner0.05%
Assurant Inc0.05%
Avery Dennison Corp0.05%
Jm Smucker0.05%
Akamai Technologies Inc0.04%
Healthpeak Properties Inc0.04%
Pinnacle West0.04%
Huntington Ingalls Industries0.04%
Globe Life0.04%
Costar Group0.04%
Invesco Ltd0.04%
Factset Research Systems0.04%
Solventum0.04%
Baxter International0.04%
Generac Holdings0.04%
Jack Henry and Associates Inc0.04%
Bio Techne0.04%
Lululemon Athletica0.04%
Albemarle Corp0.04%
Pentair0.04%
Aes0.03%
Clorox0.03%
Udr Reit0.03%
Dominos Pizza0.03%
Camden Property Trust Reit0.03%
Bxp0.03%
Align Technology0.03%
Universal Health Services Class B0.03%
Aptiv PLC0.03%
Franklin Templeton0.03%
Federal Realty Investment Trust Re0.03%

Only in PBUS

144 securities, 39.6% of PBUS by weight

NVIDIA Corp7.39%
Microsoft Corp5.63%
Alphabet Inc2.51%
Broadcom Inc2.35%
Meta Platforms Inc2.06%
Alphabet Inc1.99%
Eli Lilly & Co1.65%
Micron Technology Inc1.59%
Advanced Micro Devices Inc1.39%
Berkshire Hathaway Inc1.15%
Palantir Technologies Inc0.64%
Applied Materials Inc0.50%
Lam Research Corp0.48%
Caterpillar Inc0.45%
RTX Corp0.40%
Crowdstrike Holdings Inc0.39%
Netflix Inc0.39%
GE Vernova Inc0.36%
KLA Corp0.33%
Amphenol Corp0.30%
Sandisk Corp0.30%
Arista Networks Inc0.30%
Welltower Inc0.25%
Intuitive Surgical Inc0.24%
Newmont Corp0.18%
Uber Technologies Inc0.18%
Booking Holdings Inc0.18%
Snowflake Inc0.16%
Cloudflare Inc0.15%
Quanta Services Inc0.14%
Elevance Health Inc0.14%
Vertiv Holdings Co0.13%
Marriott International Inc/MD0.13%
Space Exploration Technologies Corp0.13%
Datadog Inc0.13%
Howmet Aerospace Inc0.12%
Hilton Worldwide Holdings Inc0.12%
Royal Caribbean Cruises Ltd0.12%
MercadoLibre Inc0.12%
HCA Healthcare Inc0.11%
O'Reilly Automotive Inc0.11%
Lumentum Holdings Inc0.11%
Robinhood Markets Inc0.10%
TransDigm Group Inc0.10%
DoorDash Inc0.10%
Monster Beverage Corp0.10%
Cheniere Energy Inc0.10%
Bloom Energy Corp0.09%
Natera Inc0.09%
AppLovin Corp0.09%

Weight gaps

The 100 widest of 371 Holdings in both funds.

Holding weights in IVE and PBUS, widest gap first
Holding	More in IVEMore in PBUS	IVE	PBUS
Exxonmobil Holdings CorpXOM	IVE +1.39 points	2.52%	1.14%
WalmartWMT	IVE +1.01 points	1.81%	0.80%
ChevronCVX	IVE +0.89 points	1.53%	0.64%
Costco Wholesale CorpCOST	IVE +0.80 points	1.47%	0.67%
Procter & GamblePG	IVE +0.67 points	1.23%	0.56%
Merck & Co IncMRK	IVE +0.67 points	1.21%	0.54%
UnitedHealth GroupUNH	IVE +0.64 points	1.20%	0.56%
Home DepotHD	IVE +0.59 points	1.08%	0.49%
Bank of AmericaBAC	IVE +0.57 points	1.07%	0.50%
AppleAAPL	IVE +0.54 points	8.25%	7.71%
Texas InstrumentTXN	IVE +0.47 points	0.90%	0.43%
Intel CorporationINTC	IVE +0.46 points	1.07%	0.61%
Thermo Fisher ScientificTMO	IVE +0.45 points	0.85%	0.40%
Wells FargoWFC	IVE +0.44 points	0.83%	0.39%
JPMorgan Chase & CoJPM	PBUS +0.43 points	0.94%	1.37%
Linde PLCLIN	IVE +0.43 points	0.78%	0.35%
CitigroupC	IVE +0.35 points	0.67%	0.32%
Analog DevicesADI	IVE +0.35 points	0.67%	0.32%
PepsicoPEP	IVE +0.34 points	0.61%	0.27%
Walt DisneyDIS	IVE +0.34 points	0.63%	0.29%
SalesforceCRM	IVE +0.34 points	0.62%	0.28%
Verizon Communications IncVZ	IVE +0.34 points	0.61%	0.27%
ConocophillipsCOP	IVE +0.34 points	0.61%	0.27%
Tesla IncTSLA	PBUS +0.34 points	1.40%	1.74%
Abbott LaboratoriesABT	IVE +0.33 points	0.60%	0.27%
Union PacificUNP	IVE +0.32 points	0.59%	0.27%
Nextera EnergyNEE	IVE +0.31 points	0.57%	0.26%
DeereDE	IVE +0.32 points	0.56%	0.24%
PfizerPFE	IVE +0.31 points	0.57%	0.26%
Accenture PLC Class AACN	IVE +0.29 points	0.52%	0.23%
QualcommQCOM	IVE +0.29 points	0.58%	0.29%
BlackRockBLK	IVE +0.28 points	0.54%	0.26%
AT&TT	IVE +0.26 points	0.48%	0.22%
Vertex PharmaceuticalsVRTX	IVE +0.25 points	0.46%	0.21%
DanaherDHR	IVE +0.25 points	0.48%	0.23%
Charles SchwabSCHW	IVE +0.25 points	0.47%	0.22%
Eaton PLCETN	IVE +0.24 points	0.47%	0.23%
Altria Group IncMO	IVE +0.24 points	0.43%	0.19%
Bristol Myers SquibbBMY	IVE +0.23 points	0.42%	0.19%
ChubbCB	IVE +0.23 points	0.42%	0.19%
Capital One Financial CorpCOF	IVE +0.23 points	0.41%	0.18%
Western Digital CorpWDC	IVE +0.23 points	0.43%	0.20%
Lockheed MartinLMT	IVE +0.22 points	0.42%	0.20%
Prologis ReitPLD	IVE +0.22 points	0.40%	0.18%
Marathon PetroleumMPC	IVE +0.22 points	0.41%	0.19%
Mastercard Class AMA	PBUS +0.21 points	0.56%	0.77%
Automatic Data Processing IncADP	IVE +0.21 points	0.38%	0.17%
Lowes Companies IncLOW	IVE +0.21 points	0.38%	0.17%
Starbucks CorpSBUX	IVE +0.21 points	0.39%	0.18%
Dell Technologies Inc Class CDELL	IVE +0.21 points	0.42%	0.21%
Valero Energy CorpVLO	IVE +0.21 points	0.38%	0.17%
Mckesson CorpMCK	IVE +0.21 points	0.38%	0.17%
Phillips 66PSX	IVE +0.21 points	0.37%	0.16%
Cvs HealthCVS	IVE +0.21 points	0.38%	0.17%
Medtronic PLCMDT	IVE +0.20 points	0.39%	0.19%
SouthernSO	IVE +0.19 points	0.35%	0.16%
Adobe IncADBE	IVE +0.18 points	0.33%	0.15%
Duke Energy CorpDUK	IVE +0.18 points	0.33%	0.15%
Equinix ReitEQIX	IVE +0.18 points	0.33%	0.15%
Intercontinental Exchange IncICE	IVE +0.17 points	0.31%	0.14%
Regeneron PharmaceuticalsREGN	IVE +0.17 points	0.30%	0.13%
MarshMRSH	IVE +0.17 points	0.31%	0.14%
CsxCSX	IVE +0.17 points	0.32%	0.15%
Us BancorpUSB	IVE +0.16 points	0.30%	0.14%
WilliamsWMB	IVE +0.16 points	0.30%	0.14%
Pnc Financial Services GroupPNC	IVE +0.16 points	0.30%	0.14%
SynopsysSNPS	IVE +0.16 points	0.29%	0.13%
Emerson ElectricEMR	IVE +0.16 points	0.30%	0.14%
BlackstoneBX	IVE +0.16 points	0.29%	0.13%
American Tower ReitAMT	IVE +0.16 points	0.29%	0.13%
3MMMM	IVE +0.15 points	0.29%	0.14%
Eog ResourcesEOG	IVE +0.15 points	0.28%	0.13%
Coca-ColaKO	IVE +0.15 points	0.69%	0.54%
AbbVieABBV	IVE +0.15 points	0.92%	0.77%
Freeport Mcmoran IncFCX	IVE +0.15 points	0.29%	0.14%
Mondelez International Class AMDLZ	IVE +0.15 points	0.27%	0.12%
Comcast Class ACMCSA	IVE +0.15 points	0.27%	0.12%
Travelers CompaniesTRV	IVE +0.14 points	0.27%	0.13%
United Parcel Service Inc Class BUPS	IVE +0.15 points	0.27%	0.12%
Waste Management IncWM	IVE +0.14 points	0.28%	0.14%
Motorola Solutions IncMSI	IVE +0.15 points	0.27%	0.12%
Colgate-PalmoliveCL	IVE +0.14 points	0.25%	0.11%
SlbSLB	IVE +0.14 points	0.26%	0.12%
CignaCI	IVE +0.14 points	0.26%	0.12%
T Mobile Us IncTMUS	IVE +0.14 points	0.25%	0.11%
Norfolk Southern CorpNSC	IVE +0.14 points	0.25%	0.11%
CintasCTAS	IVE +0.14 points	0.25%	0.11%
Delta Air LinesDAL	IVE +0.14 points	0.16%	0.02%
Sherwin WilliamsSHW	IVE +0.14 points	0.25%	0.11%
EcolabECL	IVE +0.13 points	0.25%	0.12%
General MotorsGM	IVE +0.13 points	0.25%	0.12%
Northrop Grumman CorpNOC	IVE +0.13 points	0.24%	0.11%
Air Products and ChemicalsAPD	IVE +0.13 points	0.23%	0.10%
Arthur J GallagherAJG	IVE +0.13 points	0.23%	0.10%
American Electric Power IncAEP	IVE +0.12 points	0.23%	0.11%
Target CorpTGT	IVE +0.13 points	0.23%	0.10%
Aon PLC Class AAON	IVE +0.12 points	0.22%	0.10%
Fedex CorpFDX	IVE +0.13 points	0.23%	0.10%
Targa ResourcesTRGP	IVE +0.12 points	0.22%	0.10%
Hewlett Packard EnterpriseHPE	IVE +0.12 points	0.24%	0.12%

All 435 IVE 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.

IVE vs PBUS Cost

Overpaying IVE vs PBUS

$2,900

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

IVE 0.18%
$3,749
PBUS 0.04%
$849

Amount$10,000

Years30 years

Cost over time

IVE 0.18%
PBUS 0.04%
Overpaying

Year by year

Year	IVE	PBUS	Overpaying
10	$328	$73	$255
20	$1,281	$288	$993
30	$3,749	$849	$2,900

Expense ratio

0.18%IVE
0.04%PBUS, cheaper

PBUS0.04%IVE0.18%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

PBUS 2nd cheapest of 42 funds

IVE 18th cheapest of 42 funds

IVE vs PBUS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IVE 1.51%, better; PBUS 1.02%
Payout (12M): IVE $3.61; PBUS $0.77
Last payment: IVE $0.93; PBUS $0.19
Ex-dividend: IVE Sep 15, 2026; PBUS Sep 21, 2026
Paid on: IVE Sep 18, 2026; PBUS Sep 25, 2026
Frequency: IVE Quarterly; PBUS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVEQuarterly · 39 paymentsAll IVE payments⁠

PBUSQuarterly · 36 paymentsAll PBUS payments⁠

IVE vs PBUS Risk

Fall from peak · 5 years

IVE
PBUS

Risk facts

VolatilityStd dev, 3 years: IVE 11.8%, betterPBUS 12.5%
Return per unit of riskSharpe ratio, 3 years: IVE 1.15PBUS 1.41, better
Worst fallMax drawdown, 5 years: IVE −18.0%, betterPBUS −25.4%
Market sensitivityBeta, 5 years: IVE 0.84PBUS 1.02; Market = 1

IVE and PBUS in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026IVE
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026IVE

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IVE vs PBUS

In short

Stated mandate

Why people hold it

Worth knowing

How IVE and PBUS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IVE

Only in PBUS

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

How IVE and PBUS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IVE

Only in PBUS

Weight gaps