At a glance
PSCU charges 0.29% a year, above the 0.16% average of the 4 funds most like it (the 4th cheapest of 5). It has $16.0M in assets, the 5th largest of that group; it paid 0.86% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +0.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 5 funds; over three years it returned +10.2% a year. At its worst it fell 28.7% in the 2020 crash (S&P 500: 33.7%) and 24.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 25 months after the lows. Its ten largest positions make up 52.9% of the fund, out of 34 in all.
The short version
Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) tracks an S&P index of about three dozen small U.S. utility and communication services stocks. It offers targeted exposure to two sectors, pairing media and telecom names such as Match Group and Lumen Technologies with water, electric and gas utilities. It charges 0.29% a year, above the 0.16% average of similar funds, and held only about $16 million as of August 31, 2026.
Price history
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PSCU +0.6% 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 | |
|---|---|---|---|---|---|---|
| PSCU official prospectus, to Dec 31, 2024 | — | +10.80% | — | +4.09% | +6.74% | — |
| PSCU price data to Oct 27, 2026 | +6.2% | +0.6% | +10.2% | 0.0% | +5.3% | +8.1% |
- Over the year to Oct 27, 2026, PSCU returned +0.6%, 5th of 5 among similar funds.
- Its 5-year annualized return was 0.0% and its 10-year +5.3%.
- In the 2020 COVID crash it fell 28.7% and regained its old high 9.8 months after the low.
- Its worst full calendar year was 2022 (-19.7%); its best was 2021 (+30.1%).
- The deepest fall in its price history was 30% (Jan 3, 2022 to Oct 27, 2023), recovered by Nov 11, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.2% | — |
| 2025 | -1.9% | — |
| 2024 | +10.7% | +10.80% |
| 2023 | +2.1% | +2.21% |
| 2022 | -19.7% | -19.57% |
| 2021 | +30.1% | +29.92% |
| 2020 | +3.8% | +3.28% |
| 2019 | +9.7% | +9.99% |
| 2018 | -4.8% | -4.47% |
| 2017 | +12.4% | +11.91% |
| 2016 | +24.4% | +24.80% |
| 2015 | +5.8% | +7.04% |
| 2014 | +17.7% | — |
| 2013 | +22.1% | — |
| 2012 | +0.2% | — |
| 2011 | +12.1% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 28.6% over that stretch · deepest drop along the way 28.7%, back to its old high 9.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.7% over that stretch · deepest drop along the way 24.1%, back to its old high 25.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2900 | |
| 2025 | $0.6300 | +8.6% |
| 2024 | $0.5800 | -32.6% |
| 2023 | $0.8600 | -6.5% |
| 2022 | $0.9200 | -49.7% |
| 2021 | $1.8300 | +181.5% |
| 2020 | $0.6500 | -50.0% |
| 2019 | $1.3000 | +12.1% |
| 2018 | $1.1600 | +18.4% |
| 2017 | $0.9800 | -70.4% |
| 2016 | $3.3100 | +175.8% |
| 2015 | $1.2000 | +23.7% |
| 2014 | $0.9700 | -4.0% |
| 2013 | $1.0100 | -19.8% |
| 2012 | $1.2600 | +35.5% |
| 2011 | $0.9300 |
What's inside
As of Aug 31, 2026, the fund held 34 securities; the ten largest made up 52.92% of assets. It also reported 27.05% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Match Group, Inc. | 9.61% | |
| Madison Square Garden Sports Corp. | 7.01% | |
| Lumen Technologies, Inc. | 6.00% | |
| Versant Media Group, Inc. | 5.88% | |
| Iridium Communications Inc. | 5.03% | |
| MDU Resources Group, Inc. | 4.22% | |
| Clearway Energy, Inc. | 3.90% | |
| Otter Tail Corp. | 3.85% | |
| Sphere Entertainment Co. | 3.72% | |
| Cinemark Holdings, Inc. | 3.71% | |
| American States Water Co. | 3.55% | |
| Telephone and Data Systems, Inc. | 3.30% | |
| Chesapeake Utilities Corp. | 3.24% | |
| Avista Corp. | 3.11% | |
| California Water Service Group | 3.03% |
By country
United States 99.82%By asset type
Stocks 99.82%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $1.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.18%, -2.83%, -0.11%.
How it works
PSCU aims to match, before fees, the S&P SmallCap 600 Capped Utilities & Communication Services Index, run by S&P Dow Jones Indices. The index starts with the S&P SmallCap 600, about 600 small U.S. companies. It keeps only those classed as utilities or communication services under GICS, a standard system for sorting companies by industry. That covers electric, gas and water utilities plus telecom, media, entertainment and interactive media firms. As of October 31, 2025, the index had 36 stocks with market values from $336 million to $10.5 billion.
The fund uses full replication: it generally owns every stock in the index in the same proportions, keeping at least 90% of its assets in index stocks. The word "Capped" in the index name means single-company weights are limited. Because the fund simply follows the index, it won't sell a lagging company unless the index drops it. Portfolio turnover was 24% in its latest fiscal year.
PSCU is "non-diversified," a legal label meaning it can hold bigger stakes in fewer companies than a diversified fund. As of August 31, 2026, it owned 34 stocks, and the top 10 made up about 53% of assets. Match Group (9.6%), Madison Square Garden Sports (7.0%) and Lumen Technologies (6.0%) led the list. It uses no leverage, options or derivatives.
What it really costs
- PSCU charges 0.29% a year, versus an average of 0.16% for the similar funds below (4th of 5, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PSCU | $30 | $93 | $163 | $368 |
In a retirement portfolio
It is a very small, non-diversified fund of about three dozen small companies in just two sectors, so it fits a minor position more than a portfolio foundation.
PSCU adds small utilities plus media and telecom firms, but its sell-off declines have been deep. It launched in 2010, so it has no 2008 record. It fell 28.7% in the 2020 COVID crash and recovered by January 14, 2021. In the 2022 bear market it dropped 24.1%. It then slid to 30% below its peak by October 27, 2023, and didn't regain that January 2022 high until November 11, 2024. Its worst calendar year was 2022, down 19.57%. Anyone selling shares for income then would have sold at depressed prices.
Income is modest: the yield was 0.86% for the 12 months to October 27, 2026, paid quarterly. Costs are 0.29% a year, about $368 over 10 years on $10,000 in the SEC's standard example, versus 0.06% for iShares Core S&P Small-Cap ETF (IJR). Past results don't predict the future, 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 targeted small-cap exposure to U.S. utilities and communication services, from American States Water to Match Group and Lumen Technologies.
- Those adding a modest sector tilt beside a broad small-cap core such as IJR, whose holdings overlap little with PSCU's.
- Patient holders who can sit through drops like its 30% decline from January 2022, which wasn't fully recovered until November 2024.
Look elsewhere if
- Those expecting a defensive utility income fund: communication services names lead its holdings, and its yield was 0.86% as of October 27, 2026.
- Cost-focused investors: its 0.29% expense ratio is well above broad small-cap funds such as SPSM at 0.03% and IJR at 0.06%.
- Anyone wary of tiny funds: assets were about $16 million as of August 31, 2026, after $1.3 million of outflows over three months.
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 |
|---|---|---|---|---|---|
| PSCU this fund | — | 0.29% | $16.0M | +0.6% | +10.2% |
| XTL SPDR S&P Telecom ETF | 12% | 0.35% | $712.2M | +27.5% | +45.9% |
| IJS iShares S&P Small-Cap 600 Value ETF | 6% | 0.18% | $8.02B | +18.8% | +19.1% |
| SPSM SPDR Portfolio S&P 600 Small Cap ETF | 6% | 0.03% | $16.92B | +21.7% | +17.4% |
| IJR iShares Core S&P Small-Cap ETF | 5% | 0.06% | $111.32B | +21.7% | +17.4% |
Questions investors ask
Is PSCU a utilities ETF?
Only partly. PSCU holds small U.S. companies from both the utilities and communication services sectors of the S&P SmallCap 600. As of August 31, 2026, its five largest holdings were communication services companies: Match Group (9.6%), Madison Square Garden Sports (7.0%), Lumen Technologies (6.0%), Versant Media Group (5.9%) and Iridium Communications (5.0%). Utilities such as MDU Resources, Clearway Energy, Otter Tail and American States Water came next, at roughly 3.5% to 4.2% each.
Does PSCU pay monthly dividends?
No. PSCU pays dividends quarterly, and the amounts are small. Over the 12 months to October 27, 2026, it paid about $0.52 per share. That is a trailing yield of 0.86%, meaning the past year's payouts divided by the share price. That is low for a fund with utilities in its name, so it may add little for investors who rely on portfolio income.
What is PSCU's expense ratio?
PSCU's expense ratio is 0.29% a year, according to its prospectus filed December 18, 2025, and all of it is the management fee. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $30 in the first year and $368 over 10 years. That is above the 0.16% average for similar funds and well above broad small-cap index funds such as SPDR Portfolio S&P 600 Small Cap ETF (SPSM) at 0.03%.
What's the difference between PSCU and XTL?
They cover different slices of the market. PSCU follows small-cap utilities and communication services stocks from the S&P SmallCap 600, while SPDR S&P Telecom ETF (XTL) focuses on telecom. XTL is PSCU's closest match by holdings, yet their overlap is only about 12%. XTL costs more, at 0.35% versus 0.29%, but is far larger: $712 million in assets as of June 30, 2026, against PSCU's $16 million as of August 31, 2026. Over the year to October 27, 2026, XTL returned 27.5% and PSCU 0.6%.
How has PSCU performed over the long term?
Its returns have been uneven, with big swings. According to its prospectus, PSCU returned an average of 6.74% a year over the 10 years to December 31, 2024, and 4.09% a year over five years. Between 2015 and 2024, calendar-year returns ranged from a 29.92% gain in 2021 to a 19.57% loss in 2022. Based on prices through October 27, 2026, it was roughly flat over five years and up 0.6% over one year. IJR gained 20.8% over the year to October 30, 2026.