Skip to content
etf.net

IVOV vs PBUS

Vanguard S&P Mid-Cap 400 Value ETF

IVOVBNYSE Arca

Invesco MSCI USA ETF

PBUSACboe

Overlap

Expense ratio

PBUS −0.06pt a year

IVOV0.10%PBUS0.04%

Avg volume · 30D

PBUS 16.6×the volume

IVOV21.1KPBUS349K

5Y return · a year

PBUS +3.6pt

IVOV+7.5%PBUS+11.1%

IVOV vs PBUS Performance

Nov 9, 2021 – Nov 9, 2026

+43.4%IVOV+68.9%PBUS

Nov 9, 2021 to Nov 9, 2026. IVOV +43.4%. PBUS +68.9%. Use the arrow keys to read each point.−20%0%20%80%Nov 2021May 2024Nov 2026
Expense ratio
IVOV 0.10%
PBUS 0.04%, better
Fund size
IVOV $1.2B
PBUS $10.2B
1Y total return
IVOV +17.0%, better
PBUS +12.9%
Yield (12M)
IVOV 1.61%, better
PBUS 1.02%
Holdings
IVOV 304
PBUS 516
Avg volume (30D)
IVOV 21.1K sh
PBUS 349K sh, better
NAV per share
IVOV $111.38
PBUS $73.60
52W range

ETF.net Grade

IVOV: Cost 79, Risk 50, Mission 74, Tradability 45, Holdings 79, Durability 77. PBUS: Cost 98, Risk 61, Mission 100, Tradability 77, Holdings 52, Durability 74.
Pillar letters and Scores for IVOV, PBUS, with each pillar’s weight
PillarIVOVPBUS
Cost30% weightA79A98Higher
Mission25% weightA74A100Higher
Risk15% weightC50B61Higher
Tradability15% weightC45A77Higher
Holdings10% weightA79HigherC52
Durability5% weightA77HigherA74

Rank among Other Major Indexes funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IVOV and PBUS are both graded against the same 41 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 41 funds
See all 41 ›

PBUS ranks 3rd and IVOV 13th of 41 funds in the Other Major Indexes Category.

  1. Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
  2. Rank 2ASCHKSchwab 1000 Index ETFScore 86
  3. Rank 3APBUSInvesco MSCI USA ETFScore 83
  4. Rank 4AVOOVVanguard S&P 500 Value ETFScore 80
  5. Rank 10BXOEXXtrackers S&P 100 Ex Top 20 ETFScore 69
  6. Rank 13BIVOVVanguard S&P Mid-Cap 400 Value ETFScore 68
  7. Rank 14BRWLInvesco S&P 500 Revenue ETFScore 66

Our read on each fund

ETF.net Research

IVOVBVanguard S&P Mid-Cap 400 Value ETF

PBUSAInvesco MSCI USA ETF

In short

IVOV The forgotten middle of the market, priced like an afterthought. IVOV tracks the S&P MidCap 400 Value Index, roughly 300 medium-sized US companies on the value side of the ledger, for 0.10% a year while the typical index wrapper charges far more.

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

IVOV The fund seeks to track the S&P MidCap 400 Value Index, a benchmark of medium-sized U.S. value companies.

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

  • IVOV Charges 0.10% a year against a 0.45% median for the index funds we grade. Cost is the one edge in indexing you actually control.
  • About 300 medium-sized US value names in one basket, sorted by S&P's published index rules rather than a manager's conviction.vanguard.com
  • Launched in 2010 and now a multi-billion-dollar fund. A settled Vanguard product with a long operating record, not a launch-year experiment.
  • Sits in the upper tier of the index-tracking funds we grade, on cost, portfolio construction and staying power.
  • 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

  • IVOV Thinly traded for a Vanguard fund. Spreads can widen, so limit orders matter more here than with the mega-cap giants.
  • Mid-cap value by design: no mega-cap ballast, and the growthier half of the mid-cap market is screened out. The ride diverges from an S&P 500 fund.vanguard.com
  • Distributions arrive on an annual or semiannual schedule, not monthly, which shapes how income lands in a cash-flow plan.
  • 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 IVOV profile⁠

Full PBUS profile⁠

IVOV vs 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.

IVOV vs PBUS Cost

Overpaying IVOV vs PBUS

$1,257

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

  • IVOV 0.10%

    $2,106

  • PBUS 0.04%

    $849

$10,000
30 years

Cost over time

  • IVOV 0.10%
  • PBUS 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K$2.5K051015202530IVOV $2,106PBUS $849

Year by year

YearIVOVPBUSOverpaying
10$183$73$110
20$717$288$429
30$2,106$849$1,257

Expense ratio

  • 0.10%IVOV
  • 0.04%PBUS, cheaper
  • Middle half of Other Major Indexes funds
  • Median 0.29%

PBUS 2nd cheapest of 41 funds

IVOV 11th cheapest of 41 funds

IVOV vs PBUS Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
IVOV 1.61%, better
PBUS 1.02%
Payout (12M)
IVOV $1.84
PBUS $0.77
Last payment
IVOV $1.84
PBUS $0.19
Ex-dividend
IVOV Dec 22, 2025
PBUS Sep 21, 2026
Paid on
IVOV Dec 24, 2025
PBUS Sep 25, 2026
Frequency
IVOV Annual
PBUS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVOVAnnual · 9 paymentsAll IVOV payments⁠
One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 21, 2017 $0.94; Dec 13, 2018 $0.98; Dec 16, 2019 $1.14; Dec 22, 2020 $1.59; Dec 21, 2021 $1.50; Dec 20, 2022 $1.51; Dec 20, 2023 $1.33; Dec 23, 2024 $1.66; Dec 22, 2025 $1.84. Use the arrow keys to read each point.$0$22017202020232026YTD
PBUSQuarterly · 36 paymentsAll PBUS payments⁠
One bar per payment. 36 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.13; Mar 19, 2018 $0.10; Jun 18, 2018 $0.13; Sep 24, 2018 $0.14; Dec 26, 2018 $0.07; Mar 18, 2019 $0.11; Jun 24, 2019 $0.13; Sep 23, 2019 $0.08; Dec 23, 2019 $0.17; Mar 23, 2020 $0.15; Jun 22, 2020 $0.10; Sep 21, 2020 $0.13; Dec 21, 2020 $0.13; Mar 22, 2021 $0.13; Jun 21, 2021 $0.04; Sep 20, 2021 $0.13; Dec 20, 2021 $0.17; Mar 21, 2022 $0.16; Jun 21, 2022 $0.16; Sep 19, 2022 $0.16; Dec 19, 2022 $0.17; Mar 20, 2023 $0.17; Jun 20, 2023 $0.16; Sep 18, 2023 $0.14; Dec 18, 2023 $0.18; Mar 18, 2024 $0.17; Jun 24, 2024 $0.17; Sep 23, 2024 $0.17; Dec 23, 2024 $0.19; Mar 24, 2025 $0.18; Jun 23, 2025 $0.17; Sep 22, 2025 $0.18; Dec 22, 2025 $0.18; Mar 23, 2026 $0.20; Jun 22, 2026 $0.20; Sep 21, 2026 $0.19. Use the arrow keys to read each point.$0$22017202020232026YTD

IVOV vs PBUS Risk

Fall from peak · 5 years

  • IVOV
  • PBUS
Nov 9, 2021 to Nov 9, 2026. Worst fall: PBUS −25.4% · Oct 2022. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
IVOV 15.9%PBUS 12.5%, better
Return per unit of riskSharpe ratio, 3 years
IVOV 0.82PBUS 1.41, better
Worst fallMax drawdown, 5 years
IVOV −22.6%, betterPBUS −25.4%
Market sensitivityBeta, 5 years
IVOV 0.99PBUS 1.02

Popular comparisons

  • IVOVBvsSPYVA

    Vanguard S&P Mid-Cap 400 Value ETF · State Street SPDR Portfolio S&P 500 Value ETF

    Expense ratio
    0.10% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PBUSAvsSPYVA

    Invesco MSCI USA ETF · State Street SPDR Portfolio S&P 500 Value ETF

    Expense ratio
    0.04% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IVOVBvsSCHKA

    Vanguard S&P Mid-Cap 400 Value ETF · Schwab 1000 Index ETF

    Expense ratio
    0.10% · 0.03%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PBUSAvsSCHKA

    Invesco MSCI USA ETF · Schwab 1000 Index ETF

    Expense ratio
    0.04% · 0.03%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IVOVBvsVOOVA

    Vanguard S&P Mid-Cap 400 Value ETF · Vanguard S&P 500 Value ETF

    Expense ratio
    0.10% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PBUSAvsVOOVA

    Invesco MSCI USA ETF · Vanguard S&P 500 Value ETF

    Expense ratio
    0.04% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.