JTEK vs PSR

JTEKCJPMorgan U.S. Tech Leaders ETF

PSRAInvesco Active U.S. Real Estate ETF

In short

JTEK J.P. Morgan's stock-picker take on tech: roughly 60 U.S. names where the manager thinks the market is underrating future growth, including technology-enabled businesses that never show up on a sector screen.

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

JTEK The Fund seeks long-term capital appreciation by investing primarily in technology and technology-enabled companies whose future growth the adviser believes is underappreciated.

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

• JTEK Active mandate, not an index clone: it targets technology and technology-enabled companies whose future growth the adviser believes is underappreciated.
• Concentrated by design at about 60 holdings, so an individual pick carries real weight in the portfolio.
• The 0.65% fee sits right at the median for active US equity ETFs, so the stock-picking does not come at a premium price.
• A multi-billion-dollar fund from one of the largest asset managers, with moderate daily trading activity behind it.

• 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

• JTEK One sector, about 60 stocks. Swings can run sharper than a whole-market fund, in both directions.
• That 0.65% towers over the systematic peers in its cohort, like DFAU at 0.12% and AVLC at 0.15%. The active research has a fee gap to close.
• Launched in 2023, so the track record is short. The mandate is long-term capital appreciation, not income.

• 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 JTEK profile⁠

Full PSR profile⁠