PBUS vs TMFX: Grades, Fees and Holdings Compared

Invesco MSCI USA ETF

PBUSACboe

Motley Fool Next Index ETF

TMFXCCboe

Overlap

1.7%by weight

Expense ratio

PBUS −0.46pt a year

PBUS0.04%TMFX0.50%

Avg volume · 30D

PBUS 53.3×the volume

PBUS433KTMFX8.13K

3Y return · a year

PBUS +2.2pt

PBUS+23.5%TMFX+21.3%

PBUS vs TMFX Performance

Oct 31, 2025 – Oct 30, 2026

+11.5%PBUS+12.5%TMFX

Expense ratio: PBUS 0.04%, better; TMFX 0.50%
Fund size: PBUS $10.5B; TMFX $38M
1Y total return: PBUS +11.5%; TMFX +12.5%, better
Yield (12M): PBUS 1.02%, better; TMFX 0.04%
Holdings: PBUS 517; TMFX 199
Avg volume (30D): PBUS 433K sh, better; TMFX 8.13K sh
NAV per share: PBUS $75.71; TMFX $24.42
52W range

ETF.net Grade

Pillar letters and Scores for PBUS, TMFX, with each pillar’s weight
Pillar	PBUS	TMFX
Cost30% weight	A98Higher	D28
Mission25% weight	A100Higher	A76
Risk15% weight	B63Higher	D28
Tradability15% weight	A86Higher	C41
Holdings10% weight	C50	A79Higher
Durability5% weight	A74Higher	D39

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. PBUS and TMFX are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds

See all 42 ›

PBUS ranks 3rd and TMFX 26th of 42 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 3APBUSInvesco MSCI USA ETFScore 85
Rank 4AVOOVVanguard S&P 500 Value ETFScore 79
Rank 25CRFVInvesco S&P MidCap 400 Pure Value ETFScore 48
Rank 26CTMFXMotley Fool Next Index ETFScore 47
Rank 26CWLDRAffinity World Leaders Equity ETFScore 47

Our read on each fund

ETF.net Research

PBUSAInvesco MSCI USA ETF

TMFXCMotley Fool Next Index 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.

TMFX The Motley Fool's recommendation list, minus the household names. TMFX tracks a rules-based index of mid- and small-cap US companies its analysts have flagged, deliberately leaving out the 100 largest.

Stated mandate

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

TMFX The fund seeks to track, before fees and expenses, the total return of the Motley Fool Next 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.

TMFX The entry rule is unusually legible: mid- and small-cap US companies recommended by Motley Fool's analysts and newsletters, with the biggest 100 stripped out.stockanalysis.com aaii.com
It fishes below the mega-cap waterline where most index money already sits, which makes it a different exposure from a standard US core fund rather than a repeat of one.fooletfs.com stockanalysis.com
Rules run the portfolio, not a stock picker's mood: passive, market-cap weighted, tracking the Motley Fool Next Index before fees and expenses.stockanalysis.com
Live since 2021, so the strategy has traded through a full cycle of rate shocks and growth swings instead of existing only on a backtest.

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.

TMFX At 0.50% a year, it costs meaningfully more than plain-vanilla broad index trackers. The proprietary index is what you're paying the extra for.
Small fund, thin tape. Spreads can widen, so limit orders do more work here than with a heavily traded index ETF.
Smaller, growth-leaning companies move harder in both directions than large-cap core, and payouts are occasional rather than a steady income stream.fooletfs.com

Full PBUS profile⁠

Full TMFX profile⁠

PBUS vs TMFX Holdings

How PBUS and TMFX differ

Overlap by weight

1.7%

Shared holdings make up 51.6% of TMFX and 1.7% of PBUS.

Level by level

Holdings48 in both1.7%
Sector11 Sectors72.1%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in PBUS and TMFX, widest gap first
Sector	More in PBUSMore in TMFX	PBUS	TMFX
Technology	PBUS +13.4 points	40.2%	26.8%
Health Care	TMFX +12.3 points	9.3%	21.6%
Industrials	TMFX +9.6 points	7.9%	17.5%
Communication	PBUS +5.0 points	9.9%	4.9%
Consumer Discretionary	TMFX +4.8 points	8.8%	13.6%
Financials	PBUS +2.8 points	11.0%	8.2%
Consumer Staples	PBUS +2.2 points	4.3%	2.1%
Energy	PBUS +1.9 points	3.5%	1.6%
Utilities	PBUS +1.8 points	1.8%	0.0%
Real Estate	TMFX +1.2 points	1.6%	2.8%
Materials	PBUS +0.8 points	1.6%	0.8%

Country, concentration and asset class

Country by domicile

Country weights in PBUS and TMFX, widest gap first
Country	More in PBUSMore in TMFX	PBUS	TMFX
United States	TMFX +0.8 points	99.2%	100.0%
Other countries (8)	PBUS +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

PBUS36.6%
TMFX15.4%

Securities held

PBUS515
TMFX198

Asset class

PBUS: Equity
TMFX: Equity

Holdings

Only in PBUS467
In both48
Only in TMFX150

Only in PBUS

467 securities, 98.2% of PBUS by weight

Apple Inc7.71%
NVIDIA Corp7.39%
Microsoft Corp5.63%
Amazon.com Inc3.55%
Alphabet Inc2.51%
Broadcom Inc2.35%
Meta Platforms Inc2.06%
Alphabet Inc1.99%
Tesla Inc1.74%
Eli Lilly & Co1.65%
Micron Technology Inc1.59%
Advanced Micro Devices Inc1.39%
JPMorgan Chase & Co1.37%
Berkshire Hathaway Inc1.15%
ExxonMobil Holdings Corp1.14%
Visa Inc1.02%
Johnson & Johnson1.00%
Walmart Inc0.80%
Mastercard Inc0.77%
AbbVie Inc0.77%
Costco Wholesale Corp0.67%
Palantir Technologies Inc0.64%
Cisco Systems Inc0.64%
Chevron Corp0.64%
Intel Corp0.61%
Procter & Gamble Co/The0.56%
UnitedHealth Group Inc0.56%
Merck & Co Inc0.54%
Coca-Cola Co/The0.54%
Applied Materials Inc0.50%
Bank of America Corp0.50%
Home Depot Inc/The0.49%
Philip Morris International Inc0.49%
General Electric Co0.49%
Lam Research Corp0.48%
Palo Alto Networks Inc0.47%
Caterpillar Inc0.45%
Texas Instruments Inc0.43%
Goldman Sachs Group Inc/The0.41%
RTX Corp0.40%
Thermo Fisher Scientific Inc0.40%
Crowdstrike Holdings Inc0.39%
Netflix Inc0.39%
Wells Fargo & Co0.39%
Amgen Inc0.37%
International Business Machines Corp0.36%
Oracle Corp0.36%
GE Vernova Inc0.36%
Linde PLC0.35%
Morgan Stanley0.34%

Only in TMFX

150 securities, 47.9% of TMFX by weight

Ubiquiti Inc1.39%
Coupang Inc1.08%
Rubrik Inc1.07%
Guardant Health Inc0.99%
Medpace Holdings Inc0.76%
Nutanix Inc0.76%
Exelixis Inc0.72%
Zebra Technologies Corp0.71%
Hasbro Inc0.70%
WESCO International Inc0.70%
Unity Software Inc0.69%
Tyler Technologies Inc0.67%
Wayfair Inc0.67%
Docusign Inc0.64%
UL Solutions Inc0.62%
Bridgebio Pharma Inc0.61%
RBC Bearings Inc0.61%
GoDaddy Inc0.61%
Gartner Inc0.60%
Manhattan Associates Inc0.60%
Solventum Corp0.58%
Five Below Inc0.55%
CNA Financial Corp0.55%
RPM International Inc0.55%
Maplebear Inc0.54%
SiTime Corp0.54%
TKO Group Holdings Inc0.54%
CoStar Group Inc0.51%
Mueller Industries Inc0.50%
Texas Roadhouse Inc0.50%
GameStop Corp0.50%
HubSpot Inc0.49%
FactSet Research Systems Inc0.49%
Paycom Software Inc0.49%
QXO Inc0.48%
New York Times Co/The0.47%
Jack Henry & Associates Inc0.47%
BioMarin Pharmaceutical Inc0.47%
Pinterest Inc0.46%
Align Technology Inc0.44%
Jefferies Financial Group Inc0.44%
Sterling Infrastructure Inc0.44%
BorgWarner Inc0.44%
Globus Medical Inc0.44%
Toro Co/The0.44%
Kymera Therapeutics Inc0.44%
Insulet Corp0.43%
Krystal Biotech Inc0.42%
Repligen Corp0.42%
Affiliated Managers Group Inc0.41%

Weight gaps

All 48 Holdings in both funds, largest gap first.

Holding weights in PBUS and TMFX, widest gap first
Holding	More in PBUSMore in TMFX	PBUS	TMFX
Everpure IncP	TMFX +1.62 points	0.07%	1.69%
Zscaler IncZS	TMFX +1.58 points	0.04%	1.62%
HEICO CorpHEI	TMFX +1.53 points	0.02%	1.55%
Biogen IncBIIB	TMFX +1.51 points	0.06%	1.57%
Crown Castle IncCCI	TMFX +1.48 points	0.06%	1.54%
Rocket Cos IncRKT	TMFX +1.47 points	0.02%	1.49%
Okta IncOKTA	TMFX +1.46 points	0.06%	1.52%
Cboe Global Markets IncCBOE	TMFX +1.43 points	0.05%	1.48%
Illumina IncILMN	TMFX +1.43 points	0.06%	1.49%
Old Dominion Freight Line IncODFL	TMFX +1.39 points	0.05%	1.44%
EQT CorpEQT	TMFX +1.39 points	0.05%	1.44%
GE HealthCare Technologies IncGEHC	TMFX +1.39 points	0.05%	1.44%
Axon Enterprise IncAXON	TMFX +1.39 points	0.05%	1.44%
ResMed IncRMD	TMFX +1.31 points	0.06%	1.37%
Dexcom IncDXCM	TMFX +1.25 points	0.05%	1.30%
ROBLOX CorpRBLX	TMFX +1.20 points	0.05%	1.25%
Williams-Sonoma IncWSM	TMFX +1.19 points	0.05%	1.24%
Cognizant Technology Solutions CorpCTSH	TMFX +1.17 points	0.04%	1.21%
EMCOR Group IncEME	TMFX +1.15 points	0.05%	1.20%
MongoDB IncMDB	TMFX +1.13 points	0.05%	1.18%
Zoom Communications IncZM	TMFX +1.13 points	0.03%	1.16%
Copart IncCPRT	TMFX +1.12 points	0.04%	1.16%
Quest Diagnostics IncDGX	TMFX +1.12 points	0.04%	1.16%
Ulta Beauty IncULTA	TMFX +1.10 points	0.04%	1.14%
Veralto CorpVLTO	TMFX +1.09 points	0.04%	1.13%
Samsara IncIOT	TMFX +1.01 points	0.02%	1.03%
Casey's General Stores IncCASY	TMFX +0.99 points	0.04%	1.03%
Incyte CorpINCY	TMFX +0.99 points	0.03%	1.02%
Markel Group IncMKL	TMFX +0.93 points	0.04%	0.97%
XPO IncXPO	TMFX +0.90 points	0.03%	0.93%
Alnylam Pharmaceuticals IncALNY	TMFX +0.89 points	0.03%	0.92%
SoFi Technologies IncSOFI	TMFX +0.87 points	0.03%	0.90%
SS&C Technologies Holdings IncSSNC	TMFX +0.76 points	0.03%	0.79%
Toast IncTOST	TMFX +0.76 points	0.02%	0.78%
First Solar IncFSLR	TMFX +0.75 points	0.03%	0.78%
Reddit IncRDDT	TMFX +0.72 points	0.02%	0.74%
Tractor Supply CoTSCO	TMFX +0.71 points	0.03%	0.74%
Hyatt Hotels CorpH	TMFX +0.70 points	0.01%	0.71%
Rollins IncROL	TMFX +0.68 points	0.02%	0.70%
Invitation Homes IncINVH	TMFX +0.63 points	0.02%	0.65%
NVR IncNVR	TMFX +0.62 points	0.03%	0.65%
Fair Isaac CorpFICO	TMFX +0.62 points	0.02%	0.64%
MasTec IncMTZ	TMFX +0.59 points	0.02%	0.61%
Neurocrine Biosciences IncNBIX	TMFX +0.60 points	0.02%	0.62%
Textron IncTXT	TMFX +0.59 points	0.02%	0.61%
McCormick & Co Inc/MDMKC	TMFX +0.51 points	0.02%	0.53%
AST SpaceMobile IncASTS	TMFX +0.47 points	0.02%	0.49%
Watsco IncWSO	TMFX +0.47 points	0.02%	0.49%

All 515 PBUS holdings⁠All TMFX holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PBUS vs TMFX Cost

Overpaying TMFX vs PBUS

$9,130

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

PBUS 0.04%
$849
TMFX 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

PBUS 0.04%
TMFX 0.50%
Overpaying

Year by year

Year	PBUS	TMFX	Overpaying
10	$73	$900	$827
20	$288	$3,460	$3,172
30	$849	$9,979	$9,130

Expense ratio

0.04%PBUS, cheaper
0.50%TMFX

PBUS0.04%TMFX0.50%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

PBUS 2nd cheapest of 42 funds

TMFX 31st cheapest of 42 funds

PBUS vs TMFX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): PBUS 1.02%, better; TMFX 0.04%
Payout (12M): PBUS $0.77; TMFX $0.01
Last payment: PBUS $0.19; TMFX $0.01
Ex-dividend: PBUS Sep 21, 2026; TMFX Dec 18, 2025
Paid on: PBUS Sep 25, 2026; TMFX Dec 19, 2025
Frequency: PBUS Quarterly; TMFX Annual

Distribution history

Per share, 2017 to 2026, same scale for both

PBUSQuarterly · 36 paymentsAll PBUS payments⁠

TMFXAnnual · 4 paymentsAll TMFX payments⁠

PBUS vs TMFX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PBUS 12.5%, betterTMFX 17.2%
Return per unit of riskSharpe ratio, 3 years: PBUS 1.41, betterTMFX 0.96
Worst fallMax drawdown, 5 years: PBUS −25.4%TMFX −34.3%since Dec 2021
Market sensitivityBeta, 5 years: PBUS 1.02TMFX 1.15; Market = 1

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