PRF vs. BND
PRF (Invesco RAFI US 1000 ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, PRF returned 13.74%/yr vs 1.60%/yr for BND. At a correlation of -0.16, they often move in opposite directions. PRF charges 0.34%/yr vs 0.03%/yr for BND.
Performance
PRF vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, PRF achieves a 15.24% return, which is significantly higher than BND's 0.65% return. Over the past 10 years, PRF has outperformed BND with an annualized return of 13.74%, while BND has yielded a comparatively lower 1.60% annualized return.
PRF
- 1D
- 0.62%
- 1M
- 2.30%
- YTD
- 15.24%
- 6M
- 15.31%
- 1Y
- 32.77%
- 3Y*
- 20.33%
- 5Y*
- 13.55%
- 10Y*
- 13.74%
BND
- 1D
- 0.27%
- 1M
- 1.01%
- YTD
- 0.65%
- 6M
- 0.69%
- 1Y
- 4.73%
- 3Y*
- 4.05%
- 5Y*
- 0.04%
- 10Y*
- 1.60%
PRF vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRF Invesco RAFI US 1000 ETF | 15.24% | 18.33% | 16.73% | 15.72% | -7.79% | 31.12% | 7.78% | 27.42% | -8.71% | 16.01% |
BND Vanguard Total Bond Market ETF | 0.65% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between PRF and BND is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | -0.16 |
The correlation between PRF and BND shifts across timeframes, from -0.16 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRF vs. BND — Risk / Return Rank
PRF
BND
PRF vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Vanguard Total Bond Market ETF (BND). 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.
| PRF | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.22 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.99 | 1.77 | +3.22 |
| Martin ratioReturn relative to average drawdown | 20.39 | 5.10 | +15.30 |
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Drawdowns
PRF vs. BND - Drawdown Comparison
The maximum PRF drawdown since its inception was -60.35%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for PRF and BND.
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Drawdown Indicators
| PRF | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -18.58% | -41.77% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -2.68% | -3.91% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -5.92% | -9.90% |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | -17.91% | -1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -18.58% | -19.58% |
Current DrawdownCurrent decline from peak | -1.03% | -1.99% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -3.06% | -3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 0.93% | +0.68% |
Volatility
PRF vs. BND - Volatility Comparison
Invesco RAFI US 1000 ETF (PRF) has a higher volatility of 3.74% compared to Vanguard Total Bond Market ETF (BND) at 1.14%. This indicates that PRF's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRF | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 1.14% | +2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 8.24% | 2.76% | +5.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.97% | 3.72% | +7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.21% | 6.03% | +9.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 5.53% | +12.16% |
PRF vs. BND - Expense Ratio Comparison
PRF has a 0.34% expense ratio, which is higher than BND's 0.03% expense ratio.
Dividends
PRF vs. BND - Dividend Comparison
PRF's dividend yield for the trailing twelve months is around 1.38%, less than BND's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.95% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
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
PRF and BND have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRF has higher volatility (3.74%) compared to BND (1.14%). In terms of maximum drawdown, PRF dropped -60.35% vs BND's -18.58%.
On 10-year performance, PRF leads with 13.74% vs 1.60% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.14%. 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 13.74% return vs 1.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.34% for PRF.
BND has the higher dividend yield at 3.95%, compared with 1.38% for PRF.
PRF is categorized as Large Cap Value Equities, while BND is Total Bond Market. PRF tracks RAFI Fundamental Select US 1000 Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.34% for PRF and 0.03% for BND.
PRF currently has the higher Sharpe Ratio (3.00 vs 1.27), 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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