LFSC vs PSR

LFSCBF/M Emerald Life Sciences Innovation ETF

PSRAInvesco Active U.S. Real Estate ETF

In short

LFSC An actively managed swing at life sciences innovation, launched in 2024 and priced below the typical active US equity fund. Healthcare stock-picking in a single ticket, not a sector index.

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

LFSC The fund is intended to provide exposure to the healthcare sector, primarily through the F/m Emerald Life Sciences Innovation ETF.

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

• LFSC 0.54% buys active healthcare management for less than the median active US equity fund charges, so the stock-picking doesn't start in a fee hole.
• The portfolio sticks closely to the healthcare mandate in its filings. What the documents describe is what shows up in the holdings.
• One ticket for a specialist life sciences sleeve run by a manager making calls, rather than a rules-based sector index rebalancing on a calendar.

• 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

• LFSC Thinly traded, with a modest asset base. Spreads can run wider than on giant sector funds, which makes limit orders and quiet mid-session windows worth the attention.
• Launched in October 2024, so the track record is short and any read on its risk behavior rests on limited history.
• This is a total-return vehicle, not an income one. It has not been paying distributions.

• 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 LFSC profile⁠

Full PSR profile⁠