# Invesco RAFI US Fundamental Value UCITS ETF USD (PSRF) **Page:** https://fundology.uk/fund/psrf · ISIN IE00B23D8S39 ## 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, PSRF (Invesco RAFI US Fundamental Value UCITS ETF USD, ISIN IE00B23D8S39) closed at £34.99 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 +79.4%, or +40.0% after UK CPIH inflation. ## Summary Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD is an exchange-traded fund (ETF) from Invesco, launched in 2007. It tracks the RAFI Fundamental US Index. 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: **£34.99** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | PSRF | | ISIN | IE00B23D8S39 | | Also listed as | PRUS (London Stock Exchange, US dollars), 6PSA (Xetra, euros) | | Category | US shares | | Type | ETF | | Provider | Invesco | | Tracks | RAFI Fundamental US Index | | Income | Distributing | | Ongoing charge | 0.39% a year (£39 per £10,000) | | Fund size | £1.0bn | | 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 | +23.26% | +18.89% | income reinvested | | 3 years | +68.45% | +52.19% | income reinvested | | 5 years | +79.40% | +40.03% | 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 US Fundamental Value UCITS ETF USD in pounds (price only, income paid out not included): 2022 +1.2%, 2023 +7.7%, 2024 +17.7%, 2025 +5.4%; 2026 to 13/11/2026 +23.2%. Returns of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +22.7%; to 30/09/2025: +9.9%; to 30/09/2024: +15.7%; to 30/09/2023: +3.3%; to 30/09/2022: +8.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +1.2% | -7.4% | Price | | 2023 | +7.7% | +3.4% | Price | | 2024 | +17.7% | +13.7% | Price | | 2025 | +5.4% | +1.7% | Price | | 2026 to 13/11/2026 | +23.2% | +19.2% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 8.96% | -4.25% | | 3 years | 11.06% | -17.17% | | 5 years | 12.41% | -17.17% | ## Largest fall Volatility of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 9.0% over 1 year, 11.1% over 3 years, 12.4% over 5 years. Largest fall in the price of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD since November 2021, in pounds: −17.2% from 17/01/2025 to 11/04/2025. The lowest 12-month return of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −7.2% (12 months to 18/08/2023); the highest was +32.7% (12 months to 22/05/2026). On 13/11/2026 the price of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD was at its highest weekly close since November 2021, in pounds. ## Charges compared with similar funds Ongoing charge of Invesco Markets III PLC - Invesco RAFI US Fundamental Value UCITS ETF USD 0.39% a year. Compared on 14/11/2026, 33 of the 254 other US share funds charge more, 2 the same and 219 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, PSRF holds 523 positions, according to its published holdings. The largest is Apple at 5.27% of the fund; the ten largest make up 25.5%. ### Top holdings Largest positions (as of 12/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Apple | [AAPL](https://fundology.uk/stock/AAPL) | 5.27% | | 2 | Microsoft | [MSFT](https://fundology.uk/stock/MSFT) | 3.41% | | 3 | Alphabet · Class A | [GOOGL](https://fundology.uk/stock/GOOGL) | 3.10% | | 4 | Amazon | [AMZN](https://fundology.uk/stock/AMZN) | 2.61% | | 5 | Berkshire Hathaway · Class B | [BRK.B](https://fundology.uk/stock/BRK.B) | 2.33% | | 6 | ExxonMobil | [XOM](https://fundology.uk/stock/XOM) | 2.21% | | 7 | Meta Platforms | [META](https://fundology.uk/stock/META) | 1.91% | | 8 | JP Morgan Chase | [JPM](https://fundology.uk/stock/JPM) | 1.78% | | 9 | Chevron | [CVX](https://fundology.uk/stock/CVX) | 1.55% | | 10 | UnitedHealth Group | [UNH](https://fundology.uk/stock/UNH) | 1.32% | ## 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 12/11/2026. | Sector | Weight | |---|---| | Information Technology | 19.3% | | Financials | 17.0% | | Health Care | 14.6% | | Communication Services | 8.6% | | Energy | 8.6% | | Consumer Discretionary | 8.4% | | Industrials | 8.2% | | Consumer Staples | 7.3% | | Other sectors | 8.0% | ### By country As published for the fund, as of 12/11/2026. | Country | Weight | |---|---| | United States | 99.4% | | Switzerland | 0.5% | ### By type of asset Added up from the fund’s published holdings, as of 12/11/2026. | Type of asset | Weight | |---|---| | Equity | 99.9% | | Cash and money market | 0.1% | The 516 holdings on record (of 523 reported): https://fundology.uk/fund/psrf/holdings ## Questions people ask **What is the ongoing charge of PSRF?** The ongoing charge of PSRF 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 US Fundamental Value UCITS ETF USD 0.39% a year. Compared on 14/11/2026, 33 of the 254 other US share funds charge more, 2 the same and 219 less (share classes counted once). **What does PSRF track?** PSRF tracks the RAFI Fundamental US Index. **Is PSRF accumulating or distributing?** PSRF 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 PSRF?** The ISIN of PSRF is IE00B23D8S39. An ISIN identifies one exact share class of a fund; PSRF is its ticker on the London Stock Exchange. The same share class is also listed as PRUS (London Stock Exchange, US dollars) and 6PSA (Xetra, euros). **What does PSRF hold?** As of 12/11/2026, PSRF holds 523 positions, according to its published holdings. The largest is Apple at 5.27% of the fund; the ten largest make up 25.5%. Its ten largest holdings are Apple (5.27%), Microsoft (3.41%), Alphabet · Class A (3.10%), Amazon (2.61%), Berkshire Hathaway · Class B (2.33%), ExxonMobil (2.21%), Meta Platforms (1.91%), JP Morgan Chase (1.78%), Chevron (1.55%) and UnitedHealth Group (1.32%). **What were PSRF’s returns in each of the last five years?** Calendar-year returns of PSRF in pounds (price only, income paid out not included): 2022 +1.2%, 2023 +7.7%, 2024 +17.7%, 2025 +5.4%; 2026 to 13/11/2026 +23.2%. Past performance is not a guide to future returns. **How has PSRF done after inflation?** Over the five years to 13/11/2026 PSRF’s total return was +79.4%, or +40.0% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.