USMC vs PBUS: Holdings Overlap
USMCPrincipal U.S. Mega-Cap ETF
Principal · 26 holdings · $3.6B · as of 2026-03-31
Invesco · 537 holdings · $11.4B · as of 2026-05-31
Holdings snapshots are 61 days apart (USMC: 2026-03-31, PBUS: 2026-05-31). 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 USMC and PBUS?
Principal U.S. Mega-Cap ETF (USMC, by Principal) holds 26 positions; Invesco MSCI USA ETF (PBUS, by Invesco) holds 537. They have 26 holdings in common, and by portfolio weight the two funds are 47.2% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 47.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 26USMC holds 26 · PBUS holds 537
- Weight in Shared Holdings
- USMC 100%·PBUS 48%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 USMC
Every position in USMC is also held by PBUS, so it brings nothing the other fund doesn’t already own.
Sector Breakdown
| Sector | USMC | PBUS |
|---|---|---|
| Information Technology | 26.6% | 38.0% |
| Financials | 20.4% | 11.1% |
| Communication Services | 14.1% | 10.7% |
| Consumer Staples | 10.2% | 4.4% |
| Consumer Discretionary | 8.2% | 9.7% |
| Other Sectors | 20.2% | 25.7% |
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 |
|---|---|---|---|---|---|---|---|
| USMC | +2.9% | +11.9% | +21.9% | +20.8% | +14.5% | — | 0.74% |
| PBUS | +3.4% | +14.0% | +23.4% | +21.4% | +12.9% | — | 0.99% |
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 USMC vs PBUS →
Shared Holdings(26)
The top 10 shared positions account for 76% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. | 7.57% | 7.77% | 7.57% |
|---|---|---|---|
 AAPLApple, Inc. | 6.70% | 6.94% | 6.70% |
 MSFTMicrosoft Corp. | 4.91% | 4.81% | 4.81% |
 AMZNAmazon.com, Inc. | 3.62% | 3.94% | 3.62% |
 GOOGLAlphabet Inc., Class A | 5.37% | 3.35% | 3.35% |
 AVGOBroadcom, Inc. | 4.50% | 3.05% | 3.05% |
 METAMeta Platforms, Inc., Class A | 4.11% | 2.09% | 2.09% |
 TSLATesla, Inc. | 2.36% | 1.86% | 1.86% |
 MUMicron Technology, Inc. | 2.95% | 1.65% | 1.65% |
 LLYEli Lilly and Co. | 2.23% | 1.34% | 1.34% |
 JPMJPMorgan Chase & Co. | 4.56% | 1.23% | 1.23% |
 BRK-BBerkshire Hathaway Inc., Class B | 3.42% | 0.99% | 0.99% |
 XOMExxon Mobil Corp. | 2.84% | 0.93% | 0.93% |
 VVisa Inc., Class A | 4.39% | 0.83% | 0.83% |
 JNJJohnson & Johnson | 3.54% | 0.82% | 0.82% |
 WMTWalmart, Inc. | 2.48% | 0.77% | 0.77% |
 COSTCostco Wholesale Corp. | 4.58% | 0.64% | 0.64% |
 MAMastercard Inc., Class A | 4.49% | 0.63% | 0.63% |
 CATCaterpillar, Inc. | 2.43% | 0.62% | 0.62% |
 ABBVAbbVie, Inc. | 3.37% | 0.58% | 0.58% |
 NFLXNetflix, Inc. | 4.65% | 0.55% | 0.55% |
 BACBank of America Corp. | 3.52% | 0.54% | 0.54% |
 CVXChevron Corp. | 2.83% | 0.53% | 0.53% |
 GEGeneral Electric Co. | 2.99% | 0.52% | 0.52% |
 PGProcter & Gamble Co. (The) | 3.11% | 0.51% | 0.51% |
Frequently Asked Questions
How much do USMC and PBUS overlap?
USMC and PBUS overlap by 47.2% of portfolio weight. They share 26 holdings (USMC holds 26 positions and PBUS holds 537), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMC and PBUS?
The two portfolios are 47.2% 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 USMC and PBUS?
The largest positions held by both funds are NVDA, AAPL, MSFT, AMZN and GOOGL. Together the top 10 shared positions account for 76% of the total overlap.
What does USMC own that PBUS doesn't?
Nothing. Every position in USMC is also held by PBUS. In the other direction, 511 positions (51.7% of PBUS) are unique to PBUS.