PBUS vs. BBUS

Last updated Jun 4, 2026

PBUS (Invesco PureBeta MSCI USA ETF) and BBUS (JP Morgan Betabuilders U.S. Equity ETF) are both Large Cap Growth Equities funds - PBUS tracks the MSCI USA Index while BBUS tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 5 years, PBUS returned 13.48%/yr vs 13.43%/yr for BBUS. With a 0.98 correlation, they move nearly in lockstep. PBUS charges 0.04%/yr vs 0.02%/yr for BBUS.

Performance

PBUS vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PureBeta MSCI USA ETF (PBUS) and JP Morgan Betabuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PBUS having a 10.82% return and BBUS slightly lower at 10.60%.

PBUS

• 1D: -0.64%
• 1M: 5.14%
• YTD: 10.82%
• 6M: 10.68%
• 1Y: 27.65%
• 3Y*: 22.61%
• 5Y*: 13.48%
• 10Y*: —

BBUS

• 1D: -0.74%
• 1M: 5.12%
• YTD: 10.60%
• 6M: 10.47%
• 1Y: 27.47%
• 3Y*: 22.46%
• 5Y*: 13.43%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PBUS vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PBUS Invesco PureBeta MSCI USA ETF	10.82%	17.58%	24.99%	27.33%	-19.64%	26.77%	21.75%	15.65%
BBUS JP Morgan Betabuilders U.S. Equity ETF	10.60%	17.77%	24.89%	27.20%	-19.46%	27.13%	20.69%	16.53%

Correlation

The correlation between PBUS and BBUS is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Mar 14, 2019	0.98

The correlation between PBUS and BBUS has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

PBUS vs. BBUS - Sectors Allocation Comparison

Sectors	PBUS	BBUS
Technology	35.4%	37.1%
Financial Services	11.6%	10.8%
Communication Services	11.3%	10.8%
Consumer Cyclical	10.1%	9.4%
Healthcare	8.6%	8.1%
Industrials	8.6%	7.2%
Consumer Defensive	4.8%	4.5%
Energy	3.6%	3.2%
Utilities	2.3%	2.6%
Real Estate	1.9%	1.7%
Basic Materials	1.8%	1.2%

Return for Risk

PBUS vs. BBUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBUS

PBUS Risk / Return Rank: 68
PBUS Sharpe Ratio Rank: 70
PBUS Sortino Ratio Rank: 68
PBUS Omega Ratio Rank: 69
PBUS Calmar Ratio Rank: 62
PBUS Martin Ratio Rank: 73

BBUS

BBUS Risk / Return Rank: 68
BBUS Sharpe Ratio Rank: 70
BBUS Sortino Ratio Rank: 68
BBUS Omega Ratio Rank: 68
BBUS Calmar Ratio Rank: 60
BBUS Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBUS vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta MSCI USA ETF (PBUS) and JP Morgan Betabuilders U.S. Equity ETF (BBUS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PBUS	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.33	-0.02
Sortino ratio: Return per unit of downside risk	3.15	3.18	-0.03
Omega ratio: Gain probability vs. loss probability	1.41	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	3.08	3.00	+0.08
Martin ratio: Return relative to average drawdown	13.93	13.76	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBUS vs. BBUS - Sharpe Ratio Comparison

The current PBUS Sharpe Ratio is 2.30, which is comparable to the BBUS Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of PBUS and BBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBUS	BBUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.33	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.79	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.84	-0.04

Drawdowns

PBUS vs. BBUS - Drawdown Comparison

The maximum PBUS drawdown since its inception was -33.15%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for PBUS and BBUS.

Drawdown Indicators

	PBUS	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-33.15%	-35.35%	+2.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.02%	-9.21%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-19.01%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-25.46%	+0.06%
Current Drawdown Current decline from peak	-0.64%	-0.74%	+0.10%
Average Drawdown Average peak-to-trough decline	-5.13%	-5.46%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.00%	-0.01%

Volatility

PBUS vs. BBUS - Volatility Comparison

Invesco PureBeta MSCI USA ETF (PBUS) and JP Morgan Betabuilders U.S. Equity ETF (BBUS) have volatilities of 2.94% and 2.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBUS	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.88%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	8.96%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	11.87%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.05%	17.03%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	19.59%	-0.26%

PBUS vs. BBUS - Expense Ratio Comparison

PBUS has a 0.04% expense ratio, which is higher than BBUS's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PBUS vs. BBUS - Dividend Comparison

PBUS's dividend yield for the trailing twelve months is around 0.98%, which matches BBUS's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBUS JP Morgan Betabuilders U.S. Equity ETF	0.98%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%	0.00%	0.00%
PBUS Invesco PureBeta MSCI USA ETF	0.98%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%

Frequently Asked Questions

Can I hold both PBUS and BBUS in my portfolio?

With a correlation of 1.00, PBUS and BBUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PBUS or BBUS?

PBUS has higher volatility (2.94%) compared to BBUS (2.88%). In terms of maximum drawdown, PBUS dropped -33.15% vs BBUS's -35.35%.

Which ETF is better, PBUS or BBUS?

On 5-year performance, PBUS leads with 13.48% vs 13.43% for BBUS. On fees, BBUS is cheaper at 0.02% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBUS or BBUS?

Over the 5-year period, PBUS has performed better with a 13.48% return vs 13.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBUS or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.04% for PBUS.

Which ETF pays a higher dividend yield, PBUS or BBUS?

PBUS and BBUS have nearly identical dividend yields, around 0.98%.

What is the main difference between PBUS and BBUS?

PBUS tracks MSCI USA Index, while BBUS tracks Morningstar US Target Market Exposure Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.04% for PBUS and 0.02% for BBUS.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (2.33 vs 2.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.