PGF vs. PRF
PGF (Invesco Financial Preferred ETF) and PRF (Invesco RAFI US 1000 ETF) are both exchange-traded funds - PGF is a Preferred Stock/Convertible Bonds fund tracking the Wachovia Hybrid & Preferred Securities Financial Index, while PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 10 years, PGF returned 2.30%/yr vs 14.01%/yr for PRF. At a 0.45 correlation, their price movements are largely independent. PGF charges 0.62%/yr vs 0.34%/yr for PRF.
Performance
PGF vs. PRF - Performance Comparison
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Returns By Period
In the year-to-date period, PGF achieves a -0.33% return, which is significantly lower than PRF's 15.07% return. Over the past 10 years, PGF has underperformed PRF with an annualized return of 2.30%, while PRF has yielded a comparatively higher 14.01% annualized return.
PGF
- 1D
- -0.78%
- 1M
- -0.02%
- YTD
- -0.33%
- 6M
- -0.47%
- 1Y
- 3.72%
- 3Y*
- 4.91%
- 5Y*
- -0.98%
- 10Y*
- 2.30%
PRF
- 1D
- -0.15%
- 1M
- 1.07%
- YTD
- 15.07%
- 6M
- 14.51%
- 1Y
- 32.54%
- 3Y*
- 21.07%
- 5Y*
- 13.06%
- 10Y*
- 14.01%
PGF vs. PRF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGF Invesco Financial Preferred ETF | -0.33% | 3.40% | 6.01% | 7.73% | -19.22% | 2.65% | 7.23% | 14.55% | -2.82% | 10.82% |
PRF Invesco RAFI US 1000 ETF | 15.07% | 18.33% | 16.73% | 15.72% | -7.79% | 31.12% | 7.78% | 27.42% | -8.71% | 16.01% |
Correlation
The correlation between PGF and PRF is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2006 | 0.45 |
The correlation between PGF and PRF shifts across timeframes, from 0.43 (10 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PGF vs. PRF — Risk / Return Rank
PGF
PRF
PGF vs. PRF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Financial Preferred ETF (PGF) 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.
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.
| PGF | PRF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.54 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 4.96 | -4.16 |
| Martin ratioReturn relative to average drawdown | 1.59 | 20.23 | -18.64 |
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Drawdowns
PGF vs. PRF - Drawdown Comparison
The maximum PGF drawdown since its inception was -75.69%, which is greater than PRF's maximum drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for PGF and PRF.
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Drawdown Indicators
| PGF | PRF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.69% | -60.35% | -15.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -6.59% | +1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -10.87% | -15.82% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -23.41% | -19.72% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -28.92% | -38.16% | +9.24% |
Current DrawdownCurrent decline from peak | -5.39% | -1.18% | -4.21% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -6.91% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 1.61% | +0.73% |
Volatility
PGF vs. PRF - Volatility Comparison
The current volatility for Invesco Financial Preferred ETF (PGF) is 1.48%, while Invesco RAFI US 1000 ETF (PRF) has a volatility of 3.66%. This indicates that PGF experiences smaller price fluctuations and is considered to be less risky than PRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGF | PRF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 3.66% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 8.22% | -4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 10.99% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.38% | 15.20% | -3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.01% | 17.69% | -5.68% |
PGF vs. PRF - Expense Ratio Comparison
PGF has a 0.62% expense ratio, which is higher than PRF's 0.34% expense ratio.
Dividends
PGF vs. PRF - Dividend Comparison
PGF's dividend yield for the trailing twelve months is around 6.91%, more than PRF's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGF Invesco Financial Preferred ETF | 6.91% | 6.30% | 6.24% | 6.15% | 5.95% | 4.68% | 4.91% | 5.14% | 5.73% | 5.32% | 5.92% | 5.68% |
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
PGF and PRF have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRF has higher volatility (3.66%) compared to PGF (1.48%). In terms of maximum drawdown, PGF dropped -75.69% vs PRF's -60.35%.
On 10-year performance, PRF leads with 14.01% vs 2.30% for PGF. On fees, PRF is cheaper at 0.34% per year. On volatility, PGF has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PRF has performed better with a 14.01% return vs 2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PRF is cheaper with a 0.34% expense ratio, compared with 0.62% for PGF.
PGF has the higher dividend yield at 6.91%, compared with 1.38% for PRF.
PGF is categorized as Preferred Stock/Convertible Bonds, while PRF is Large Cap Value Equities. PGF tracks Wachovia Hybrid & Preferred Securities Financial Index, while PRF tracks RAFI Fundamental Select US 1000 Index. Their fees differ too: 0.62% for PGF and 0.34% for PRF.
PRF currently has the higher Sharpe Ratio (2.98 vs 0.59), 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.
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