NIXT vs. PRFZ
NIXT (Research Affiliates Deletions ETF) and PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) are both exchange-traded funds - NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index, while PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index. Both are passively managed. Over the past year, NIXT returned 30.90% vs 36.25% for PRFZ. Their correlation of 0.91 suggests significant overlap in exposure. NIXT charges 0.09%/yr vs 0.39%/yr for PRFZ.
Performance
NIXT vs. PRFZ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with NIXT having a 16.63% return and PRFZ slightly lower at 16.56%.
NIXT
- 1D
- -1.39%
- 1M
- -1.77%
- YTD
- 16.63%
- 6M
- 14.18%
- 1Y
- 30.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRFZ
- 1D
- 0.11%
- 1M
- 4.27%
- YTD
- 16.56%
- 6M
- 13.40%
- 1Y
- 36.25%
- 3Y*
- 18.70%
- 5Y*
- 8.61%
- 10Y*
- 12.21%
NIXT vs. PRFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 16.63% | 4.94% | 4.60% |
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF | 16.56% | 11.26% | 7.02% |
Correlation
The correlation between NIXT and PRFZ is 0.89, 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.91 |
The correlation between NIXT and PRFZ has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
NIXT vs. PRFZ — Risk / Return Rank
NIXT
PRFZ
NIXT vs. PRFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NIXT | PRFZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 3.51 | -0.86 |
| Martin ratioReturn relative to average drawdown | 8.95 | 12.08 | -3.13 |
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Drawdowns
NIXT vs. PRFZ - Drawdown Comparison
The maximum NIXT drawdown since its inception was -27.75%, smaller than the maximum PRFZ drawdown of -62.41%. Use the drawdown chart below to compare losses from any high point for NIXT and PRFZ.
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Drawdown Indicators
| NIXT | PRFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.75% | -62.41% | +34.66% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -10.38% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.28% | — |
Current DrawdownCurrent decline from peak | -3.74% | 0.00% | -3.74% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -9.40% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 3.01% | +0.45% |
Volatility
NIXT vs. PRFZ - Volatility Comparison
Research Affiliates Deletions ETF (NIXT) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) have volatilities of 5.52% and 5.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIXT | PRFZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 5.52% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 12.96% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.27% | 18.32% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.21% | 21.35% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.21% | 22.48% | +0.73% |
NIXT vs. PRFZ - Expense Ratio Comparison
NIXT has a 0.09% expense ratio, which is lower than PRFZ's 0.39% expense ratio.
Dividends
NIXT vs. PRFZ - Dividend Comparison
NIXT's dividend yield for the trailing twelve months is around 1.37%, more than PRFZ's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 1.37% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF | 0.81% | 0.82% | 1.45% | 1.42% | 1.33% | 0.93% | 0.91% | 1.29% | 1.37% | 0.97% | 1.31% | 1.39% |
Frequently Asked Questions
NIXT and PRFZ have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRFZ has higher volatility (5.52%) compared to NIXT (5.52%). In terms of maximum drawdown, NIXT dropped -27.75% vs PRFZ's -62.41%.
On 1-year performance, PRFZ leads with 36.25% vs 30.90% for NIXT. On fees, NIXT is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PRFZ has performed better with a 36.25% return vs 30.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.39% for PRFZ.
NIXT has the higher dividend yield at 1.37%, compared with 1.01% for PRFZ.
NIXT is categorized as Mid Cap Value Equities, while PRFZ is Small Cap Blend Equities. NIXT tracks Research Affiliates Deletions Index, while PRFZ tracks FTSE RAFI US 1500 Small-Mid Index. They also come from different issuers: Research Affiliates and Invesco. Their fees differ too: 0.09% for NIXT and 0.39% for PRFZ.
PRFZ currently has the higher Sharpe Ratio (1.99 vs 1.46), 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.
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