At a glance
PKB charges 0.57% a year, above the 0.38% average of the 6 funds most like it (the 6th cheapest of 7). It has $429.6M in assets, the 7th largest of that group; it paid 0.22% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −10.6% with distributions reinvested (S&P 500: +11.5%), 6th of those 7 funds; over three years it returned +23.5% a year. At its worst it fell 52.3% in the 2020 crash (S&P 500: 33.7%) and 34.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 6 months and 12 months after the lows. Its ten largest positions make up 47.8% of the fund, out of 29 in all.
The short version
Invesco Building & Construction ETF (PKB) tracks the Dynamic Building & Construction Intellidex Index. The index holds 30 US building and construction stocks, from Home Depot and Vulcan Materials to contractors such as EMCOR and homebuilders such as Toll Brothers. PKB is a concentrated, non-diversified sector fund. Its 0.57% annual fee is higher than most similar infrastructure and homebuilding ETFs, which average 0.38%.
Price history
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PKB -10.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| PKB official prospectus, to Dec 31, 2025 | — | +22.75% | — | +17.99% | +14.96% | — |
| PKB price data to Oct 27, 2026 | -4.9% | -10.6% | +23.5% | +12.6% | +14.1% | +9.2% |
- Over the year to Oct 27, 2026, PKB returned -10.6%, 6th of 7 among similar funds.
- Its 5-year annualized return was +12.6% and its 10-year +14.1%.
- In the 2020 COVID crash it fell 52.3% and regained its old high 6.3 months after the low.
- Its worst full calendar year was 2008 (-35.3%); its best was 2023 (+55.3%).
- The deepest fall in its price history was 65.2% (Jul 19, 2007 to Mar 9, 2009), recovered by Mar 14, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -4.9% | — |
| 2025 | +22.5% | +22.75% |
| 2024 | +20.3% | +20.27% |
| 2023 | +55.3% | +54.79% |
| 2022 | -24.9% | -24.71% |
| 2021 | +33.0% | +32.91% |
| 2020 | +24.5% | +24.01% |
| 2019 | +40.2% | +40.41% |
| 2018 | -31.1% | -30.88% |
| 2017 | +24.7% | +24.44% |
| 2016 | +17.4% | +17.72% |
| 2015 | +10.3% | — |
| 2014 | -3.5% | — |
| 2013 | +28.7% | — |
| 2012 | +46.1% | — |
| 2011 | -7.8% | — |
| 2010 | +15.5% | — |
| 2009 | +1.4% | — |
| 2008 | -35.3% | — |
| 2007 | +10.8% | — |
| 2006 | +1.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 64.2% over that stretch · deepest drop along the way 64.2%, back to its old high 47.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 51.8% over that stretch · deepest drop along the way 52.3%, back to its old high 6.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.6% over that stretch · deepest drop along the way 34.6%, back to its old high 12.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1500 | |
| 2025 | $0.1300 | -27.8% |
| 2024 | $0.1800 | -14.3% |
| 2023 | $0.2100 | +16.7% |
| 2022 | $0.1800 | +28.6% |
| 2021 | $0.1400 | +16.7% |
| 2020 | $0.1200 | -2.4% |
| 2019 | $0.1230 | -5.4% |
| 2018 | $0.1300 | +116.7% |
| 2017 | $0.0600 | -25.0% |
| 2016 | $0.0800 | +300.0% |
| 2015 | $0.0200 | -20.0% |
| 2014 | $0.0250 | -72.2% |
| 2012 | $0.0900 | +542.9% |
| 2011 | $0.0140 | -98.2% |
| 2010 | $0.7800 | +3800.0% |
| 2009 | $0.0200 | 0.0% |
| 2008 | $0.0200 | 0.0% |
| 2007 | $0.0200 | +426.3% |
| 2006 | $0.0038 |
What's inside
As of Jul 31, 2026, the fund held 29 securities; the ten largest made up 47.81% of assets. It also reported 15.45% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Home Depot, Inc. (The) | 5.63% | |
| Johnson Controls International PLC | 5.51% | |
| Vulcan Materials Co. | 5.26% | |
| Amrize Ltd. | 5.01% | |
| Martin Marietta Materials, Inc. | 4.93% | |
| CRH PLC | 4.90% | |
| EMCOR Group, Inc. | 4.87% | |
| Comfort Systems USA, Inc. | 4.84% | |
| James Hardie Industries PLC | 3.52% | |
| Interface, Inc. | 3.35% | |
| LGI Homes, Inc. | 3.35% | |
| Tutor Perini Corp. | 3.22% | |
| Champion Homes, Inc. | 3.19% | |
| IES Holdings, Inc. | 3.07% | |
| Toll Brothers, Inc. | 3.04% |
By country
United States 78.21%Ireland 13.92%Switzerland 5.01%Belgium 2.83%By asset type
Stocks 99.97%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $8.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.62%, +7.17%, -10.55%.
How it works
PKB is an index fund. It aims to match the Dynamic Building & Construction Intellidex Index, which ICE Data Indices compiles and maintains. The index holds 30 US companies whose main business is building and construction. That covers homes, commercial and industrial buildings, and large infrastructure such as highways, tunnels, bridges, dams, power lines and airports. It can also include makers of building materials and construction machinery, installation and repair firms, and land developers. As of June 30, 2026, the companies in the index ranged in market value from $1.3 billion to $352.0 billion.
The fund uses "full replication." That means it generally owns every stock in the index, in the same proportions as the index. It is "non-diversified," so it can put more money into a few companies than a diversified fund can. As of July 31, 2026, the largest holdings were Home Depot (5.6%), Johnson Controls (5.5%), Vulcan Materials (5.3%) and Amrize (5.0%). The top 10 made up about 48% of assets. About 22% sat in companies registered in Ireland, Switzerland or Belgium, such as CRH and Johnson Controls.
Turnover was 97%. Turnover measures how much of the portfolio is replaced in a year, and here the holdings change a lot. Trading costs from that turnover are not included in the expense ratio. The fund also keeps a weak stock until the index drops it.
What it really costs
- PKB charges 0.57% a year, versus an average of 0.38% for the similar funds below (6th of 7, cheapest first).
- Of that, 0.5% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $58 in the first year and $713 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PKB | $58 | $183 | $318 | $713 |
In a retirement portfolio
PKB is a concentrated, non-diversified bet on one industry that has lost more than half its value twice, so it fits better as a small add-on than as a foundation.
PKB could add focused exposure to housing, building materials and infrastructure spending, but the ride has been rough. In the 2008 financial crisis it fell 64% from October 2007 to March 2009 and took about four years from that low to recover. In early 2020 it dropped 52% but regained its peak by October 2020. In the first half of 2022 it fell 35% and recovered by June 2023. Its worst calendar year was 2008, at -35.3%. Anyone selling shares to cover spending during drops like these would lock in steep losses. Income is small: the trailing 12-month yield was 0.22% as of October 27, 2026, paid quarterly. In the SEC's standard example ($10,000 earning 5% a year), costs come to $58 after one year and $713 after 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, targeted stake in US builders, contractors and materials makers such as Vulcan Materials, Martin Marietta, EMCOR and Comfort Systems USA.
- Holders who can sit through deep swings, including a 65% peak-to-bottom fall in 2007–2009 and a 52% drop in early 2020.
- Long-horizon investors comfortable with a sector bet, given its 14.96% average annual return over the 10 years to December 31, 2025.
Look elsewhere if
- Retirees who need income: the trailing yield was just 0.22% as of October 27, 2026.
- Cost-focused investors: its 0.57% fee compares with 0.30% for IFRA, 0.35% for XHB and a 0.38% average among similar funds.
- Anyone seeking a broad core holding: it owns about 30 stocks, is non-diversified, and had a one-year beta of 1.33 (more volatile than the market).
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| PKB this fund | — | 0.57% | $429.6M | -10.6% | +23.5% |
| AIRR First Trust RBA American Industrial Renaiss… | 18% | 0.7% | $11.49B | -0.9% | +28.4% |
| IFRA iShares U.S. Infrastructure ETF | 15% | 0.3% | $4.62B | +8.6% | +20.8% |
| PAVE Global X US Infrastructure Development ETF | 15% | 0.47% | $13.50B | +13.8% | +23.2% |
| XHB SPDR S&P Homebuilders ETF | 14% | 0.35% | $1.63B | -7.9% | +13.4% |
| ITB iShares U.S. Home Construction ETF | 14% | 0.39% | $2.60B | -12.1% | +9.2% |
| FMAT Fidelity MSCI Materials Index ETF | 11% | 0.084% | $578.7M | +13.8% | +13.3% |
Questions investors ask
Is PKB good for retirement?
PKB may work as a small slice of a retirement portfolio rather than its core. It is a concentrated bet on 30 building and construction stocks. It lost 64% in the 2008 financial crisis and 52% in the 2020 COVID crash. Its trailing yield was only 0.22% as of October 27, 2026, so it provides little income. Over the 10 years to December 31, 2025, it returned an average of 14.96% a year, according to its prospectus.
What does PKB invest in?
PKB holds the stocks in the Dynamic Building & Construction Intellidex Index: 30 US companies in homebuilding, building materials, construction services and infrastructure work. As of July 31, 2026, its largest holdings were Home Depot (5.6%), Johnson Controls (5.5%), Vulcan Materials (5.3%), Amrize (5.0%), Martin Marietta Materials (4.9%) and CRH (4.9%). The top 10 made up about 48% of the fund. About 22% was in companies registered in Ireland, Switzerland and Belgium.
What is PKB's expense ratio?
PKB's expense ratio is 0.57%, which includes a 0.50% management fee, according to the prospectus filed August 27, 2026. That ranks 6th of 7 among similar funds, which average 0.38%. For comparison, iShares U.S. Infrastructure ETF (IFRA) charges 0.30% and SPDR S&P Homebuilders ETF (XHB) charges 0.35%. In the SEC's standard example, $10,000 earning 5% a year would cost about $58 in the first year and $713 over 10 years.
Does PKB pay dividends?
Yes, PKB pays dividends every quarter, but they are small. Over the 12 months to October 27, 2026, it paid about $0.19 per share, a trailing yield of 0.22%. That means nearly all of the fund's return depends on stock prices rising, not on income. Investors who want regular cash from a stock fund usually compare dividend-focused funds, which aim for higher payouts.
PKB vs AIRR: what's the difference?
First Trust RBA American Industrial Renaissance ETF (AIRR) has the most holdings in common with PKB, but the two overlap by only 18%. No similar fund shares 20% or more of PKB's holdings. AIRR costs more (0.70% vs 0.57%) and is far larger, at $11.5 billion as of June 30, 2026, versus PKB's $430 million as of July 31, 2026. As of October 27, 2026, AIRR returned -0.9% over one year and 28.4% a year over three years. PKB returned -10.6% and 23.5%.