PBUS vs USMV: Holdings Overlap
Invesco · 537 holdings · $11.4B · as of 2026-05-31
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
Holdings snapshots are 31 days apart (PBUS: 2026-05-31, USMV: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are PBUS and USMV?
Invesco MSCI USA ETF (PBUS, by Invesco) holds 537 positions; iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170. They have 169 holdings in common, and by portfolio weight the two funds are 32.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 32.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 169PBUS holds 537 · USMV holds 170
- Weight in Shared Holdings
- PBUS 65%·USMV 100%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in PBUS
368 of 537 positions (34.9% of the fund) are not held by USMV. Showing the top 30 by weight.
Only in USMV
1 of 170 positions (0.2% of the fund) are not held by PBUS.
CTRACoterra Energy Inc COM0.19%
Sector Breakdown
| Sector | PBUS | USMV |
|---|---|---|
| Information Technology | 38.0% | 29.2% |
| Financials | 11.1% | 13.7% |
| Health Care | 8.3% | 12.7% |
| Communication Services | 10.7% | 5.9% |
| Consumer Staples | 4.4% | 9.9% |
| Other Sectors | 27.1% | 28.3% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| PBUS | +3.4% | +14.0% | +23.4% | +21.4% | +12.9% | — | 0.99% |
| USMV | +2.3% | +7.6% | +10.3% | +12.2% | +7.4% | +9.9% | 1.44% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in PBUS vs USMV →
Shared Holdings(169)
The top 10 shared positions account for 30% of the overlap, led by NVDA, MSFT and BRK-B.
 NVDANVIDIA Corp. COM | 7.77% | 1.63% | 1.63% |
|---|---|---|---|
 MSFTMicrosoft Corp. COM | 4.81% | 1.56% | 1.56% |
 BRK-BBerkshire Hathaway, Inc., Class B | 0.99% | 1.41% | 0.99% |
 XOMExxon Mobil Corp. COM | 0.93% | 1.60% | 0.93% |
 VVisa, Inc., Class A | 0.83% | 0.94% | 0.83% |
 JNJJohnson & Johnson COM | 0.82% | 1.43% | 0.82% |
 AAPLApple Inc. COM | 6.94% | 0.82% | 0.82% |
 WMTWalmart Inc COM | 0.77% | 0.87% | 0.77% |
 CSCOCisco Systems, Inc. COM | 0.72% | 1.80% | 0.72% |
 LLYEli Lilly & Co. COM | 1.34% | 0.66% | 0.66% |
 MAMasterCard Incorporated CL A | 0.63% | 1.15% | 0.63% |
 ABBVAbbVie Inc. COM | 0.58% | 0.63% | 0.58% |
 AMDAdvanced Micro Devices Inc. COM | 1.27% | 0.53% | 0.53% |
 PGThe Procter & Gamble Co. COM | 0.51% | 1.10% | 0.51% |
 AVGOBroadcom Inc COM | 3.05% | 0.50% | 0.50% |
 PLTRPalantir Technologies, Inc., Class A | 0.54% | 0.49% | 0.49% |
 KOCoca-Cola Co (The) COM | 0.49% | 1.19% | 0.49% |
 GOOGAlphabet Inc. CAP STK CL C | 2.77% | 0.45% | 0.45% |
 MRKMerck & Co., Inc COM | 0.45% | 1.17% | 0.45% |
 IBMInternational Business Machines Corp. COM | 0.42% | 1.11% | 0.42% |
 TXNTexas Instruments Inc. COM | 0.42% | 0.77% | 0.42% |
 MUMicron Technology Inc. COM | 1.65% | 0.42% | 0.42% |
 PMPhilip Morris International Inc. COM | 0.42% | 0.52% | 0.42% |
 CVXChevron Corp. COM | 0.53% | 0.41% | 0.41% |
 UNHUnitedHealth Group Inc. COM | 0.52% | 0.39% | 0.39% |
Frequently Asked Questions
How much do PBUS and USMV overlap?
PBUS and USMV overlap by 32.6% of portfolio weight. They share 169 holdings (PBUS holds 537 positions and USMV holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PBUS and USMV?
The two portfolios are 32.6% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of PBUS and USMV?
The largest positions held by both funds are NVDA, MSFT, BRK-B, XOM and V. Together the top 10 shared positions account for 30% of the total overlap.
What does PBUS own that USMV doesn't?
368 positions (34.9% of PBUS) are unique to PBUS, led by GOOGL, TSLA and JPM. In the other direction, 1 positions (0.2% of USMV) are unique to USMV.