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Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) Alternatives

ETF · Currency in CAD · Last updated Jun 8, 2026

The Invesco FTSE RAFI Global Small-Mid ETF seeks to track a fundamentally weighted composite index made up of 50% FTSE RAFI Developed ex-US Mid-Small 1500 Index and 50% FTSE RAFI US 1500 Mid-Small Index. The RAFI methodology weights small- and mid-cap companies across global developed markets by fundamental measures such as sales, cash flow, dividends, and book value rather than market capitalization.

Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) belongs to the Global Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PZW.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to PZW.TO

Among 37 ETFs in the Global Equities category with expense-ratio data, the lowest-cost alternatives shown here go as low as 0.17%.

SymbolNameExpense RatioAUMInception
MEQT.TO
Mackenzie All-Equity Allocation ETF0.17%—Nov 2023PZW.TO vs MEQT.TO
TEQT.TO
TD All-Equity ETF Portfolio0.17%—Apr 2025PZW.TO vs TEQT.TO
ZEQT.TO
BMO All-Equity ETF0.18%784.15MJan 2022PZW.TO vs ZEQT.TO
HEQT.TO
Horizons All-Equity Asset Allocation ETF0.20%—Sep 2019PZW.TO vs HEQT.TO
XEQT.TO
iShares Core Equity ETF Portfolio0.20%18.38BAug 2019PZW.TO vs XEQT.TO

Best Risk-Adjusted Alternatives to PZW.TO

PZW.TO has a PortfoliosLab risk / return rank of 79. There is 1 ETF in the Global Equities category with a higher risk-adjusted rank, going as high as 83.

SymbolNameRisk / Return RankAUMInception
CYH.TO
iShares Global Monthly Dividend Index ETF (CAD-Hed...
83
191.39MJan 2008PZW.TO vs CYH.TO
TEQT.TO
TD All-Equity ETF Portfolio
79
—Apr 2025PZW.TO vs TEQT.TO
ZEQT.TO
BMO All-Equity ETF
79
784.15MJan 2022PZW.TO vs ZEQT.TO
VVL.TO
Vanguard Global Value Factor ETF CAD
76
751.34MJun 2016PZW.TO vs VVL.TO
XAW.TO
iShares Core MSCI All Country World ex Canada Inde...
75
4.32BFeb 2015PZW.TO vs XAW.TO

Top Performing PZW.TO Alternatives (YTD)

PZW.TO is at 13.28% YTD. There is 1 ETF in the Global Equities category with a higher YTD return, going as high as 20.26%.

SymbolNameYTD ReturnAUMInception
VMO.TO
Vanguard Global Momentum Factor ETF CAD
20.26%
464.43MJun 2016PZW.TO vs VMO.TO
VEF.TO
Vanguard FTSE Developed All Cap Ex US
12.72%
1.27BNov 2011PZW.TO vs VEF.TO
VDU.TO
Vanguard FTSE Developed All Cap ex U.S. Index ETF
12.62%
833.59MAug 2013PZW.TO vs VDU.TO
GEQT.TO
iShares ESG Equity ETF Portfolio
11.36%
258.06MSep 2020PZW.TO vs GEQT.TO
XAW.TO
iShares Core MSCI All Country World ex Canada Inde...
11.05%
4.32BFeb 2015PZW.TO vs XAW.TO

Lowest Volatility Alternatives to PZW.TO

PZW.TO has 14.15% 1-year volatility. There are 24 ETFs in the Global Equities category with lower 1-year volatility, going as low as 7.69%.

SymbolNameVolatility 1YAUMInception
VVO.TO
Vanguard Global Minimum Volatility ETF7.69%41.80MJun 2016PZW.TO vs VVO.TO
XMW.TO
iShares MSCI Min Vol Global Index ETF7.75%176.01MJul 2012PZW.TO vs XMW.TO
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)8.50%40.06MApr 2016PZW.TO vs XML.TO
XDGH.TO
iShares Core MSCI Global Quality Dividend Index ET...9.68%169.87MJun 2017PZW.TO vs XDGH.TO
CYH.TO
iShares Global Monthly Dividend Index ETF (CAD-Hed...10.00%191.39MJan 2008PZW.TO vs CYH.TO

Lowest Drawdown Alternatives to PZW.TO

PZW.TO has a 1-year max drawdown of -8.50%. There are 13 ETFs in the Global Equities category with shallower 1-year drawdowns, going as shallow as -4.88%.

SymbolNameMax Drawdown 1YAUMInception
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)
-4.88%
40.06MApr 2016PZW.TO vs XML.TO
TINF.TO
TD Active Global Infrastructure Equity ETF
-5.03%
409.19MMay 2020PZW.TO vs TINF.TO
XMW.TO
iShares MSCI Min Vol Global Index ETF
-5.14%
176.01MJul 2012PZW.TO vs XMW.TO
CYH.TO
iShares Global Monthly Dividend Index ETF (CAD-Hed...
-5.34%
191.39MJan 2008PZW.TO vs CYH.TO
XMI.TO
iShares MSCI Min Vol EAFE Index ETF
-6.12%
173.56MJul 2012PZW.TO vs XMI.TO

Other ETFs from Invesco

The 10 most viewed Invesco ETFs shown here include QQC.TO, QQC-F.TO, EQL.TO and span 6 categories. AUM among these funds goes as high as $2B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
QQC.TO
Invesco NASDAQ 100 Index ETF CAD HedgedNasdaq-100
71
16.65%
1.96BMay 2021PZW.TO vs QQC.TO
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD HedgedNasdaq-100
58
13.64%
1.54BMay 2021PZW.TO vs QQC-F.TO
EQL.TO
Invesco S&P 500 Equal Weight Index ETF CADS&P 500
62
10.46%
1.66BMay 2018PZW.TO vs EQL.TO
INAI.TO
Invesco Morningstar Global Next Gen AI Index ETFTechnology Equities———Jan 2024PZW.TO vs INAI.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETFS&P 500, Derivative Income
75
9.08%
155.19MNov 2025PZW.TO vs EQLI.TO
QQCI.TO
Invesco NASDAQ 100 Income Advantage ETFNasdaq-100
82
13.21%
59.49MNov 2025PZW.TO vs QQCI.TO
QQCE.TO
Invesco ESG NASDAQ 100 Index ETFNasdaq-100———Nov 2021PZW.TO vs QQCE.TO
ESG.TO
Invesco S&P 500 ESG Index ETFS&P 500, ESG
74
9.29%
1.05BMar 2020PZW.TO vs ESG.TO
TLV.TO
Invesco S&P/TSX Composite Low Volatility Index ETFCanada Equities
95
11.76%
99.35MApr 2012PZW.TO vs TLV.TO
ESGC.TO
Invesco S&P/TSX Composite ESG Index ETFCanada Equities, ESG———Oct 2020PZW.TO vs ESGC.TO

Compare PZW.TO with Any Fund or Stock

Compare PZW.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair PZW.TO with funds that move differently

Invesco FTSE RAFI Global Small-Mid ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PZW.TO.

Explore PZW.TO Diversifiers