PBUS vs RFG

PBUSAInvesco MSCI USA ETF

RFGCInvesco S&P MidCap 400 Pure Growth ETF

In short

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.

RFG Most mid-cap growth funds cast a wide net. RFG runs the pure version: about 100 names from the S&P MidCap 400 that screen strongest on growth, tracked as an index, for 0.35% a year.

Stated mandate

PBUS The Fund tracks the MSCI USA Index and commits at least 90% of its assets to securities included in that index.

RFG The fund seeks to track the performance of the S&P MidCap 400 Pure Growth Index before fees and expenses and generally invests in the securities comprising that index.

Why people hold it

• 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.

• RFG Cheaper than the typical index wrapper in its peer group: 0.35% a year versus a 0.45% cohort median.
• The mandate leaves no wiggle room: track the S&P MidCap 400 Pure Growth Index and hold the securities in it. Rules pick the portfolio, not a manager's mood.
• Concentrated by design, roughly 100 stocks rather than the whole mid-cap 400, so the growth tilt actually shows up in the portfolio.
• Trading since 2006, a long live record for a single-factor slice, and it lands in the upper half of its index-wrapper cohort.

Worth knowing

• 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.

• RFG Thinly traded for an index fund, so spreads and order handling matter more here than with the cohort's giants.
• It sits at the more volatile end of its peer group: a concentrated growth screen with no value names to steady it.
• Distributions arrive quarterly, but income is a byproduct of a growth screen, not the objective.

Full PBUS profile⁠

Full RFG profile⁠