# Invesco RAFI All-World Fundamental Value UCITS ETF (PSRW)

**Page:** https://fundology.uk/fund/psrw · ISIN IE00B23LNQ02

## 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, PSRW (Invesco RAFI All-World Fundamental Value UCITS ETF, ISIN IE00B23LNQ02) closed at £30.83 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 +81.3%, or +41.5% after UK CPIH inflation.

## Summary

Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF is an exchange-traded fund (ETF) from Invesco, launched in 2007. It tracks the RAFI Fundamental Global 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: **£30.83** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | PSRW |
| ISIN | IE00B23LNQ02 |
| Also listed as | PSWD (Xetra, euros) |
| Category | Global shares |
| Type | ETF |
| Provider | Invesco |
| Tracks | RAFI Fundamental Global Index |
| Income | Distributing |
| Ongoing charge | 0.39% a year (£39 per £10,000) |
| Fund size | £378m |
| 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 | +19.99% | +15.74% | income reinvested |
| 3 years | +71.58% | +55.02% | income reinvested |
| 5 years | +81.31% | +41.53% | 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 All-World Fundamental Value UCITS ETF in pounds (price only, income paid out not included): 2022 −0.2%, 2023 +7.3%, 2024 +11.5%, 2025 +16.3%; 2026 to 13/11/2026 +17.7%. Returns of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +22.4%; to 30/09/2025: +14.5%; to 30/09/2024: +12.6%; to 30/09/2023: +7.1%; to 30/09/2022: +1.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -0.2% | -8.6% | Price |
| 2023 | +7.3% | +3.0% | Price |
| 2024 | +11.5% | +7.7% | Price |
| 2025 | +16.3% | +12.3% | Price |
| 2026 to 13/11/2026 | +17.7% | +14.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 9.70% | -6.86% |
| 3 years | 10.43% | -12.28% |
| 5 years | 11.70% | -12.28% |

## Largest fall

Volatility of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 9.7% over 1 year, 10.4% over 3 years, 11.7% over 5 years. Largest fall in the price of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF since November 2021, in pounds: −12.3% from 31/01/2025 to 11/04/2025. The lowest 12-month return of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −3.7% (12 months to 11/04/2025); the highest was +34.3% (12 months to 19/06/2026). On 13/11/2026 the price of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF was 0.4% below its highest weekly close since November 2021 (04/09/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco Markets III PLC - Invesco RAFI All-World Fundamental Value UCITS ETF 0.39% a year. Compared on 14/11/2026, 43 of the 207 other global share funds charge more, 3 the same and 161 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.39%** per year (as of 13/11/2026)
- 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, PSRW holds 1,202 positions, according to its published holdings. The largest is Apple at 2.73% of the fund; the ten largest make up 14.0%.

### 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) | 2.73% |
| 2 | Microsoft | [MSFT](https://fundology.uk/stock/MSFT) | 1.77% |
| 3 | Alphabet · Class A | [GOOGL](https://fundology.uk/stock/GOOGL) | 1.61% |
| 4 | Amazon | [AMZN](https://fundology.uk/stock/AMZN) | 1.35% |
| 5 | Berkshire Hathaway · Class B | [BRK.B](https://fundology.uk/stock/BRK.B) | 1.32% |
| 6 | ExxonMobil | [XOM](https://fundology.uk/stock/XOM) | 1.27% |
| 7 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 1.18% |
| 8 | Meta Platforms | [META](https://fundology.uk/stock/META) | 0.98% |
| 9 | JP Morgan Chase | [JPM](https://fundology.uk/stock/JPM) | 0.91% |
| 10 | Shell | [SHEL](https://fundology.uk/stock/SHEL) | 0.91% |

## 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 |
|---|---|
| Financials | 20.1% |
| Information Technology | 15.2% |
| Health Care | 11.1% |
| Industrials | 10.1% |
| Energy | 9.6% |
| Consumer Discretionary | 9.3% |
| Consumer Staples | 7.1% |
| Communication Services | 6.6% |
| Other sectors | 11.0% |

### By country

As published for the fund, as of 12/11/2026.

| Country | Weight |
|---|---|
| United States | 54.0% |
| Japan | 8.3% |
| United Kingdom | 4.2% |
| China | 3.8% |
| Canada | 3.5% |
| Germany | 2.8% |
| France | 2.8% |
| South Korea | 2.6% |
| Other countries | 18.0% |

The 1,198 holdings on record (of 1,202 reported): https://fundology.uk/fund/psrw/holdings

## Questions people ask

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

The ongoing charge of PSRW 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 All-World Fundamental Value UCITS ETF 0.39% a year. Compared on 14/11/2026, 43 of the 207 other global share funds charge more, 3 the same and 161 less (share classes counted once).

**What does PSRW track?**

PSRW tracks the RAFI Fundamental Global Index.

**Is PSRW accumulating or distributing?**

PSRW 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 PSRW?**

The ISIN of PSRW is IE00B23LNQ02. An ISIN identifies one exact share class of a fund; PSRW is its ticker on the London Stock Exchange. The same share class is also listed as PSWD (Xetra, euros).

**What does PSRW hold?**

As of 12/11/2026, PSRW holds 1,202 positions, according to its published holdings. The largest is Apple at 2.73% of the fund; the ten largest make up 14.0%. Its ten largest holdings are Apple (2.73%), Microsoft (1.77%), Alphabet · Class A (1.61%), Amazon (1.35%), Berkshire Hathaway · Class B (1.32%), ExxonMobil (1.27%), Samsung Electronics (1.18%), Meta Platforms (0.98%), JP Morgan Chase (0.91%) and Shell (0.91%).

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

Calendar-year returns of PSRW in pounds (price only, income paid out not included): 2022 −0.2%, 2023 +7.3%, 2024 +11.5%, 2025 +16.3%; 2026 to 13/11/2026 +17.7%. Past performance is not a guide to future returns.

**How has PSRW done after inflation?**

Over the five years to 13/11/2026 PSRW’s total return was +81.3%, or +41.5% 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.