# Invesco S&P SmallCap 600 UCITS ETF (USML) **Source:** https://fundology.uk/fund/usml · ISIN IE00BH3YZ803 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## 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 30/09/2026, USML (Invesco S&P SmallCap 600 UCITS ETF, ISIN IE00BH3YZ803) closed at $80.38 on the London Stock Exchange. Its ongoing charge is 0.14% a year (about £14 on £10,000). Over the five years to 30/09/2026 its total return was +39.0%, or +8.7% after UK CPIH inflation. ## Summary Invesco S&P SmallCap 600 UCITS ETF is an exchange-traded fund (ETF) from Invesco, launched in 2019. It tracks the S&P Small Cap 600. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.14% a year — about £14 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **$80.38** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | USML | | ISIN | IE00BH3YZ803 | | Category | Smaller companies | | Type | ETF | | Provider | Invesco | | Tracks | S&P Small Cap 600 | | Income | Accumulating | | Ongoing charge | 0.14% a year (£14 per £10,000) | | Fund size | £255m | | Launched | 2019 | | Domicile | Ireland | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +17.92% | +14.22% | income reinvested | | 3 years | +40.15% | +26.47% | income reinvested | | 5 years | +39.01% | +8.67% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco S&P SmallCap 600 UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −5.8%, 2023 +11.2%, 2024 +9.1%, 2025 0.0%; 2026 to 30/09/2026 +14.2%. Returns of Invesco S&P SmallCap 600 UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +18.0%; to 30/09/2025: +2.4%; to 30/09/2024: +14.8%; to 30/09/2023: −2.5%; to 30/09/2022: +1.5%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -5.8% | -13.8% | Price | | 2023 | +11.2% | +6.7% | Price | | 2024 | +9.1% | +5.4% | Price | | 2025 | +0.0% | -3.4% | Price | | 2026 to 30/09/2026 | +14.2% | +11.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 15.32% | -7.19% | | 3 years | 18.10% | -28.13% | | 5 years | 18.40% | -28.13% | ## Largest fall Volatility of Invesco S&P SmallCap 600 UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 15.3% over 1 year, 18.1% over 3 years, 18.4% over 5 years. Largest fall in the price of Invesco S&P SmallCap 600 UCITS ETF since October 2021, in pounds: −28.1% from 29/11/2024 to 11/04/2025. The lowest 12-month return of Invesco S&P SmallCap 600 UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −14.3% (12 months to 11/04/2025); the highest was +41.1% (12 months to 26/06/2026). On 30/09/2026 the price of Invesco S&P SmallCap 600 UCITS ETF was 7.2% below its highest weekly close since October 2021 (26/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Invesco S&P SmallCap 600 UCITS ETF 0.14% a year, as of 01/10/2026: 29 of the 32 other smaller-company funds charge more, 2 the same and 1 less (share classes counted once). ## Funds tracking the same index 2 funds track S&P Small Cap 600, this one included and share classes counted once; their ongoing charges range from 0.14% to 0.40% a year (30/09/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Invesco S&P SmallCap 600 UCITS ETF (this fund) | 0.14% | +17.9% | +40.1% | +39.0% | | iShares S&P SmallCap 600 UCITS ETF USD | 0.40% | +18.2% | +38.3% | +33.7% | Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.14%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 17/08/2026): | Holding | Weight | |---|---| | Brinker International | 0.60% | | Corcept Therapeutics | 0.60% | | Formfactor | 0.60% | | Glaukos | 0.60% | | Viasat | 0.60% | | Eastman Chemical | 0.50% | | Element Solutions | 0.50% | | Jackson Financial · Class A | 0.50% | | Match Group | 0.50% | | Paycom Software | 0.50% | ## Where it invests Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed. ### By sector As published by Invesco, as of 17/08/2026. | Sector | Weight | |---|---| | Information Technology | 22.2% | | Consumer Discretionary | 16.1% | | Health Care | 13.0% | | Financials | 12.3% | | Industrials | 12.2% | | Consumer Staples | 11.4% | | Communication Services | 7.7% | | Real Estate | 1.9% | | Other sectors | 3.1% | ### By country As published by Invesco, as of 17/08/2026. | Country | Weight | |---|---| | United States | 78.8% | | Switzerland | 13.1% | | China | 2.3% | | Taiwan | 1.7% | | Singapore | 1.2% | | South Korea | 1.1% | | Brazil | 1.0% | | United Kingdom | 0.7% | All 601 holdings: https://fundology.uk/fund/usml/holdings --- 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.