NXTI vs PBUS

NXTICSimplify NEXT Intangible Core Index ETF

PBUSAInvesco MSCI USA ETF

In short

NXTI Most index funds count factories. NXTI tracks an index that counts the other stuff: R&D, brands, software. It picks US companies with the highest intangible capital relative to book assets, sector by sector.

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

NXTI The Fund seeks to track, before fees and expenses, the NEXT Intangible Core Index. That index selects U.S. companies with relatively high intangible-capital-to-book-assets ratios within their sectors.

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

• NXTI Charges 0.25% a year, well under the median for its index-fund peer group, for a screen you won't find in plain market-cap beta.
• Selects within sectors, so the intangibles tilt spreads across roughly 200 US names instead of collapsing into an all-software portfolio.simplify.us
• Fully rules-based: the index does the picking, not a manager's gut. Distributions come 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

• NXTI Small and thinly traded. Spreads can run wider than on warehouse-scale index staples like SCHK or VOOV, which also cost a few basis points to own.
• The intangibles screen reshuffles sector-relative weights, so the portfolio can look and behave quite differently from a cap-weighted US benchmark.simplify.us
• Launched in 2024, so there isn't yet a full market cycle showing how the strategy holds up through a deep drawdown.

• 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 NXTI profile⁠

Full PBUS profile⁠