DRGVX vs. PRF

Last updated Jun 4, 2026

DRGVX (BNY Mellon Dynamic Value Fund Class I) and PRF (Invesco RAFI US 1000 ETF) are both Large Cap Value Equities funds. DRGVX is actively managed, while PRF is passively managed. Over the past 10 years, DRGVX returned 13.75%/yr vs 13.67%/yr for PRF. With a 0.96 correlation, they move nearly in lockstep. DRGVX charges 0.68%/yr vs 0.34%/yr for PRF.

Performance

DRGVX vs. PRF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Dynamic Value Fund Class I (DRGVX) and Invesco RAFI US 1000 ETF (PRF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DRGVX having a 14.17% return and PRF slightly higher at 14.79%. Both investments have delivered pretty close results over the past 10 years, with DRGVX having a 13.75% annualized return and PRF not far behind at 13.67%.

DRGVX

• 1D: 1.21%
• 1M: 4.66%
• YTD: 14.17%
• 6M: 15.61%
• 1Y: 29.74%
• 3Y*: 19.96%
• 5Y*: 13.43%
• 10Y*: 13.75%

PRF

• 1D: -0.20%
• 1M: 4.19%
• YTD: 14.79%
• 6M: 15.01%
• 1Y: 32.80%
• 3Y*: 21.40%
• 5Y*: 12.43%
• 10Y*: 13.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DRGVX vs. PRF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRGVX BNY Mellon Dynamic Value Fund Class I	14.17%	18.48%	14.26%	12.83%	1.51%	31.14%	3.94%	27.04%	-10.52%	15.06%
PRF Invesco RAFI US 1000 ETF	14.79%	18.33%	16.73%	15.72%	-7.79%	31.12%	7.78%	27.42%	-8.71%	16.01%

Correlation

The correlation between DRGVX and PRF is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.96

The correlation between DRGVX and PRF has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

DRGVX vs. PRF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DRGVX

DRGVX Risk / Return Rank: 80
DRGVX Sharpe Ratio Rank: 79
DRGVX Sortino Ratio Rank: 75
DRGVX Omega Ratio Rank: 68
DRGVX Calmar Ratio Rank: 90
DRGVX Martin Ratio Rank: 88

PRF

PRF Risk / Return Rank: 89
PRF Sharpe Ratio Rank: 89
PRF Sortino Ratio Rank: 90
PRF Omega Ratio Rank: 88
PRF Calmar Ratio Rank: 87
PRF Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DRGVX vs. PRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Dynamic Value Fund Class I (DRGVX) and Invesco RAFI US 1000 ETF (PRF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DRGVX	PRF	Difference
Sharpe ratio: Return per unit of total volatility	2.59	3.10	-0.51
Sortino ratio: Return per unit of downside risk	3.62	4.33	-0.71
Omega ratio: Gain probability vs. loss probability	1.46	1.57	-0.10
Calmar ratio: Return relative to maximum drawdown	4.63	5.00	-0.37
Martin ratio: Return relative to average drawdown	17.09	20.67	-3.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRGVX vs. PRF - Sharpe Ratio Comparison

The current DRGVX Sharpe Ratio is 2.59, which is comparable to the PRF Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of DRGVX and PRF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DRGVX	PRF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	3.10	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.82	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.78	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.48	+0.18

Drawdowns

DRGVX vs. PRF - Drawdown Comparison

The maximum DRGVX drawdown since its inception was -42.60%, smaller than the maximum PRF drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for DRGVX and PRF.

Drawdown Indicators

	DRGVX	PRF	Difference
Max Drawdown Largest peak-to-trough decline	-42.60%	-60.35%	+17.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.65%	-6.59%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.01%	-15.82%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	-17.01%	-19.72%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	-42.60%	-38.16%	-4.44%
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-4.34%	-6.93%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.59%	+0.21%

Volatility

DRGVX vs. PRF - Volatility Comparison

BNY Mellon Dynamic Value Fund Class I (DRGVX) has a higher volatility of 3.64% compared to Invesco RAFI US 1000 ETF (PRF) at 2.64%. This indicates that DRGVX's price experiences larger fluctuations and is considered to be riskier than PRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRGVX	PRF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	2.64%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	7.74%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	10.63%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	15.18%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	17.67%	+1.16%

DRGVX vs. PRF - Expense Ratio Comparison

DRGVX has a 0.68% expense ratio, which is higher than PRF's 0.34% expense ratio.

Dividends

DRGVX vs. PRF - Dividend Comparison

DRGVX's dividend yield for the trailing twelve months is around 6.03%, more than PRF's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRGVX BNY Mellon Dynamic Value Fund Class I	6.03%	6.88%	6.87%	5.31%	7.99%	21.73%	2.85%	3.52%	17.87%	10.95%	2.89%	16.07%
PRF Invesco RAFI US 1000 ETF	1.38%	1.59%	1.78%	1.84%	2.01%	1.58%	1.97%	1.99%	2.25%	1.58%	2.17%	2.25%

Frequently Asked Questions

Can I hold both DRGVX and PRF in my portfolio?

With a correlation of 0.94, DRGVX and PRF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DRGVX or PRF?

DRGVX has higher volatility (3.64%) compared to PRF (2.64%). In terms of maximum drawdown, DRGVX dropped -42.60% vs PRF's -60.35%.

Which has better risk-adjusted returns?

PRF currently has the higher Sharpe Ratio (3.10 vs 2.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.