# Invesco RAFI Europe Fundamental Value UCITS ETF EUR (PSRE)

**Page:** https://fundology.uk/fund/psre · ISIN IE00B23D8X81

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, PSRE (Invesco RAFI Europe Fundamental Value UCITS ETF EUR, ISIN IE00B23D8X81) closed at £13.97 on the London Stock Exchange. Its ongoing charge is 0.39% a year (about £39 on £10,000). Over the five years to 13/11/2026 its total return was +80.1%, or +40.6% after UK CPIH inflation.

## Summary

Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR is an exchange-traded fund (ETF) from Invesco, launched in 2007. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.39% a year — about £39 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£13.97** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | PSRE |
| ISIN | IE00B23D8X81 |
| Also listed as | 6PSC (Xetra, euros) |
| Category | European shares |
| Type | ETF |
| Provider | Invesco |
| Income | Distributing |
| Ongoing charge | 0.39% a year (£39 per £10,000) |
| Fund size | £31.5m |
| Launched | 2007 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/10/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +13.16% | +9.15% | income reinvested |
| 3 years | +67.34% | +51.19% | income reinvested |
| 5 years | +80.13% | +40.60% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR in pounds (price only, income paid out not included): 2022 −1.6%, 2023 +9.3%, 2024 +2.8%, 2025 +30.8%; 2026 to 13/11/2026 +8.0%. Returns of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +12.7%; to 30/09/2025: +18.3%; to 30/09/2024: +11.1%; to 30/09/2023: +17.6%; to 30/09/2022: −9.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -1.6% | -9.9% | Price |
| 2023 | +9.3% | +5.0% | Price |
| 2024 | +2.8% | -0.7% | Price |
| 2025 | +30.8% | +26.3% | Price |
| 2026 to 13/11/2026 | +8.0% | +4.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.04% | -9.74% |
| 3 years | 12.28% | -9.74% |
| 5 years | 14.46% | -15.93% |

## Largest fall

Volatility of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR in pounds, annualised from weekly returns to 13/11/2026: 13.0% over 1 year, 12.3% over 3 years, 14.5% over 5 years. Largest fall in the price of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR since November 2021, in pounds: −15.9% from 11/02/2022 to 30/09/2022. The lowest 12-month return of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR in pounds (price only, income paid out not included) since January 2021 was −10.6% (12 months to 14/10/2022); the highest was +33.0% (12 months to 10/04/2026). On 13/11/2026 the price of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR was 0.6% below its highest weekly close since November 2021 (28/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR 0.39% a year. Compared on 14/11/2026, 37 of the 242 other European share funds charge more, 0 the same and 205 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.39%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 12/11/2026, PSRE holds 364 positions, according to its published holdings. The largest is Shell at 4.68% of the fund; the ten largest make up 22.0%.

### Top holdings

Largest positions (as of 12/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Shell | [SHEL](https://fundology.uk/stock/SHEL) | 4.68% |
| 2 | TotalEnergies | [TTE](https://fundology.uk/stock/TTE) | 3.08% |
| 3 | Roche | [RO](https://fundology.uk/stock/RO) | 2.46% |
| 4 | HSBC | [HSBA](https://fundology.uk/stock/HSBA) | 2.37% |
| 5 | BP | [BP.](https://fundology.uk/stock/BP.) | 1.93% |
| 6 | Nestle | [NESN](https://fundology.uk/stock/NESN) | 1.62% |
| 7 | Novartis | [NOVN](https://fundology.uk/stock/NOVN) | 1.61% |
| 8 | Sanofi | [SAN](https://fundology.uk/stock/EURONEXT:SAN) | 1.47% |
| 9 | Glencore | [GLEN](https://fundology.uk/stock/GLEN) | 1.42% |
| 10 | Bayer | [BAYN](https://fundology.uk/stock/BAYN) | 1.33% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 05/11/2026.

| Sector | Weight |
|---|---|
| Financials | 22.2% |
| Energy | 13.5% |
| Health Care | 12.4% |
| Industrials | 11.2% |
| Consumer Staples | 10.5% |
| Materials | 8.8% |
| Consumer Discretionary | 8.6% |
| Utilities | 4.6% |
| Other sectors | 8.1% |

### By country

As published for the fund, as of 05/11/2026.

| Country | Weight |
|---|---|
| United Kingdom | 22.6% |
| Germany | 15.8% |
| France | 14.2% |
| Switzerland | 8.4% |
| United States | 7.3% |
| Spain | 5.0% |
| Italy | 4.5% |
| Sweden | 4.3% |
| Other countries | 17.8% |

The 359 holdings on record (of 364 reported): https://fundology.uk/fund/psre/holdings

## Questions people ask

**What is the ongoing charge of PSRE?**

The ongoing charge of PSRE is 0.39% a year — about £39 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Invesco Markets III PLC - Invesco RAFI Europe Fundamental Value UCITS ETF EUR 0.39% a year. Compared on 14/11/2026, 37 of the 242 other European share funds charge more, 0 the same and 205 less (share classes counted once).

**Is PSRE accumulating or distributing?**

PSRE is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of PSRE?**

The ISIN of PSRE is IE00B23D8X81. An ISIN identifies one exact share class of a fund; PSRE is its ticker on the London Stock Exchange. The same share class is also listed as 6PSC (Xetra, euros).

**What does PSRE hold?**

As of 12/11/2026, PSRE holds 364 positions, according to its published holdings. The largest is Shell at 4.68% of the fund; the ten largest make up 22.0%. Its ten largest holdings are Shell (4.68%), TotalEnergies (3.08%), Roche (2.46%), HSBC (2.37%), BP (1.93%), Nestle (1.62%), Novartis (1.61%), Sanofi (1.47%), Glencore (1.42%) and Bayer (1.33%).

**What were PSRE’s returns in each of the last five years?**

Calendar-year returns of PSRE in pounds (price only, income paid out not included): 2022 −1.6%, 2023 +9.3%, 2024 +2.8%, 2025 +30.8%; 2026 to 13/11/2026 +8.0%. Past performance is not a guide to future returns.

**How has PSRE done after inflation?**

Over the five years to 13/11/2026 PSRE’s total return was +80.1%, or +40.6% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.