PBUSvsSMAXETF Comparison
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Invesco PureBeta MSCI USA ETF (PBUS) belongs to the US Large Cap segment. iShares Large Cap Max Buffer Sep ETF (SMAX) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Healthcare. PBUS is less expensive with a Total Expense Ratio (TER) of 0.04%, versus 0.53% for SMAX. PBUS is up 12.1% year-to-date (YTD) with -$210M in YTD flows. SMAX performs worse with 5.35% YTD performance, and -$34M in YTD flows. Run a side-by-side ETF comparison of PBUS and SMAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PBUS vs SMAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBUS SMAX | -2.06%+0.36% | +1.22%+1.74% | +12.10%+5.35% | +16.08%+7.16% | +75.96%n/a | +80.04%n/a |
| Flows | PBUS SMAX | -$107M-$1M | +$90M-$4M | -$210M-$34M | +$1.88B+$515K | +$4.81B- | +$5.79B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBUS SMAX | +11.42%+2.06% | +13.00%+2.77% | +15.23%n/a | +17.27%n/a |
| Max drawdown | PBUS SMAX | -3.31%-0.49% | -9.06%-1.93% | -19.13%n/a | -25.42%n/a |
| Max drawdown duration | PBUS SMAX | 19d14d | 77d44d | 126dn/a | 715dn/a |
Trading data
PBUS | SMAX | |
Last sale 9/15/2026 at 1:30 PM | $75.97 | $28.33 |
| Previous close 09/14/2026 | $76.31 | $28.30 |
| Consolidated volume 09/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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SMAX
is actively managed and doesn’t replicate an indexPBUS | SMAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 1:30 PM
Live
Closed
PBUS | SMAX | |
|---|---|---|
| Last price | $75.97 | $28.33 |
| 1D performance | -0.45% | +0.09% |
| AuM | $11.56 B | $88.39 M |
| E/R | 0.04% | 0.53% |
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Exposure
Countries
PBUS
USA
97.26%
Other
2.74%
SMAX
USA
102.01%
Other
-2.01%
Sectors
PBUS
Technology
43.38%
Finance
14.09%
Healthcare
9.46%
Consumer Non-Cycl.
9.14%
Industrials
7.99%
Other
15.94%
SMAX
Technology
46.23%
Finance
14.48%
Healthcare
9.28%
Consumer Non-Cycl.
9.23%
Industrials
8.09%
Other
12.68%
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Diversification
PBUS
Total weight of top 15 holdings out of 15
41.85%
SMAX
Total weight of top 15 holdings out of 15
45.4%
Top 15 holdings
Data as of July 31, 2026
PBUS
Apple, Inc.
7.87%
NVIDIA Corp.
6.96%
Microsoft Corp.
4.37%
Amazon.com, Inc.
3.48%
Alphabet, Inc.
3.11%
Broadcom Inc.
2.64%
Alphabet, Inc.
2.46%
Meta Platforms, Inc.
2.04%
Eli Lilly & Co.
1.54%
JPMorgan Chase & Co.
1.47%
Tesla, Inc.
1.33%
Micron Technology, Inc.
1.32%
Berkshire Hathaway, Inc.
1.12%
Advanced Micro Devices, Inc.
1.11%
ExxonMobil Holdings Corp.
1.03%
SMAX
Apple, Inc.
7.90%
NVIDIA Corp.
7.62%
Microsoft Corp.
5.40%
Amazon.com, Inc.
3.72%
Alphabet, Inc.
3.16%
Broadcom Inc.
2.96%
Alphabet, Inc.
2.54%
Meta Platforms, Inc.
1.91%
Micron Technology, Inc.
1.59%
JPMorgan Chase & Co.
1.52%
Berkshire Hathaway, Inc.
1.51%
Eli Lilly & Co.
1.47%
BlackRock Cash Funds - Treasury
1.42%
Tesla, Inc.
1.40%
Advanced Micro Devices, Inc.
1.28%
Frequently asked questions about PBUS and SMAX
How have the PBUS and SMAX ETFs performed in 2026?
As of September 14, 2026, PBUS is up 12.1% year-to-date (YTD), while SMAX has returned 5.35%. That puts PBUS better performer ahead so far this year.
Which ETF is attracting more investor money: PBUS or SMAX?
Year-to-date, the PBUS ETF saw -$210M in flows, compared to -$34M for SMAX.
Which ETF is more volatile: PBUS or SMAX?
Over the past year, PBUS had a volatility of 13%, while SMAX experienced 2.77%.
Which ETF is bigger: PBUS or SMAX?
As of September 14, 2026, PBUS holds $11.56 B in assets under management (AUM), while SMAX manages $88.39 M.
What sectors do the PBUS and SMAX ETFs invest in?
PBUS leans toward sectors like Technology, Finance and Healthcare. Meanwhile, SMAX focuses on Technology, Finance and Healthcare.
What are the top holdings of the PBUS ETF and SMAX ETF?
PBUS top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. SMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..
Which ETF is more diversified: PBUS or SMAX?
PBUS holds 527 securities with 41.85% of its assets in the top 15. SMAX has 504 securities and a top 15 weight of 45.4%.
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