PBUS vs RFV

PBUSAInvesco MSCI USA ETF

RFVCInvesco S&P MidCap 400 Pure Value 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.

RFV Mid-cap value with no hedging: RFV holds only the deepest-value slice of the S&P MidCap 400, roughly 100 names, and skips everything else. It has run that same screen since 2006 at a fee below the typical index fund in its class.

Stated mandate

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

RFV The Fund seeks to track the S&P MidCap 400® Pure Value 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.

• RFV The screen is the whole point. About 100 names survive out of the S&P MidCap 400, so the value tilt actually shows up in the portfolio instead of getting diluted.
• 0.35% a year, under the median for its index-fund peer group. A concentrated factor screen without a boutique price tag.
• Live since 2006 under Invesco, so the strategy has a long public record rather than a backtest, and it distributes quarterly.

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.

• RFV Thinly traded. Bid-ask spreads can run wider than on mainstream index funds, which makes the mechanics of the trade itself worth attention.
• Concentration cuts both ways: roughly 100 hard-screened stocks move around more than the full 400, and value can sit out of favor for long stretches.
• Cheap for a factor fund, not cheap outright. Plain vanilla value index peers such as SPYV and VOOV charge a fraction as much for broader, blunter exposure.

Full PBUS profile⁠

Full RFV profile⁠