PRF vs. DFLV

Last updated Aug 6, 2026

PRF (Invesco RAFI US 1000 ETF) and DFLV (Dimensional US Large Cap Value ETF) are both Large Cap Value Equities funds. PRF is passively managed, while DFLV is actively managed. Over the past 3 years, PRF returned 20.80%/yr vs 18.72%/yr for DFLV. Their 0.95 correlation means they have historically moved very closely together. PRF charges 0.34%/yr vs 0.22%/yr for DFLV.

Performance

PRF vs. DFLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) and Dimensional US Large Cap Value ETF (DFLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRF achieves a 19.74% return, which is significantly lower than DFLV's 21.70% return.

PRF

• 1D: -0.45%
• 1M: 2.42%
• 6M: 13.29%
• YTD: 19.74%
• 1Y: 33.36%
• 3Y*: 20.80%
• 5Y*: 13.48%
• 10Y*: 13.75%
• ALL TIME*: 10.75%

DFLV

• 1D: -0.13%
• 1M: 3.77%
• 6M: 13.78%
• YTD: 21.70%
• 1Y: 34.69%
• 3Y*: 18.72%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFLV Dimensional US Large Cap Value ETF	$28.52M	$29.26M	$30.59M
PRF Invesco RAFI US 1000 ETF	$14.15M	$15.87M	$21.40M

PRF vs. DFLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PRF Invesco RAFI US 1000 ETF	19.74%	18.33%	16.73%	15.72%	-1.31%
DFLV Dimensional US Large Cap Value ETF	21.70%	15.90%	12.88%	12.31%	-0.94%

Correlation

The correlation between PRF and DFLV is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.95

The correlation between PRF and DFLV has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

PRF vs. DFLV - Sectors Allocation Comparison

Sectors	PRF	DFLV
Technology	22.3%	11.4%
Financial Services	16.0%	22.2%
Healthcare	12.6%	14.5%
Industrials	9.3%	13.5%
Consumer Cyclical	9.0%	7.4%
Communication Services	8.7%	4.7%
Energy	7.1%	14.4%
Consumer Defensive	6.2%	4.4%
Utilities	3.1%	-
Basic Materials	3.0%	6.8%
Real Estate	2.6%	0.4%

Return for Risk

PRF vs. DFLV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PRF

PRF Risk / Return Rank: 95
PRF Sharpe Ratio Rank: 96
PRF Sortino Ratio Rank: 95
PRF Omega Ratio Rank: 95
PRF Calmar Ratio Rank: 94
PRF Martin Ratio Rank: 95

DFLV

DFLV Risk / Return Rank: 95
DFLV Sharpe Ratio Rank: 96
DFLV Sortino Ratio Rank: 95
DFLV Omega Ratio Rank: 95
DFLV Calmar Ratio Rank: 96
DFLV Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PRF vs. DFLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Dimensional US Large Cap Value ETF (DFLV). 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	DFLV	Difference
Sharpe ratio: Return per unit of total volatility	3.10	3.12	-0.02
Sortino ratio: Return per unit of downside risk	4.28	4.32	-0.04
Omega ratio: Gain probability vs. loss probability	1.57	1.57	+0.01
Calmar ratio: Return relative to maximum drawdown	5.08	6.36	-1.27
Martin ratio: Return relative to average drawdown	21.28	23.54	-2.25

PRF vs. DFLV - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 3.10, which is comparable to the DFLV Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of PRF and DFLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRF vs. DFLV - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, which is greater than DFLV's maximum drawdown of -16.80%. Use the drawdown chart below to compare losses from any high point for PRF and DFLV.

Drawdown Indicators

	PRF	DFLV	Difference
Max Drawdown Largest peak-to-trough decline	-60.35%	-16.80%	-43.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-5.48%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	-16.80%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.16%	—	—
Current Drawdown Current decline from peak	-0.45%	-0.13%	-0.32%
Average Drawdown Average peak-to-trough decline	-6.88%	-2.95%	-3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.48%	+0.09%

Volatility

PRF vs. DFLV - Volatility Comparison

Invesco RAFI US 1000 ETF (PRF) has a higher volatility of 2.84% compared to Dimensional US Large Cap Value ETF (DFLV) at 2.53%. This indicates that PRF's price experiences larger fluctuations and is considered to be riskier than DFLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRF	DFLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	2.53%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	8.07%	8.02%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	11.16%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	14.06%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	14.06%	+3.54%

PRF vs. DFLV - Expense Ratio Comparison

PRF has a 0.34% expense ratio, which is higher than DFLV's 0.22% expense ratio.

Dividends

PRF vs. DFLV - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.33%, which matches DFLV's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLV Dimensional US Large Cap Value ETF	1.34%	1.61%	1.65%	1.72%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRF Invesco RAFI US 1000 ETF	1.33%	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 PRF and DFLV in my portfolio?

With a correlation of 0.91, PRF and DFLV 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, PRF or DFLV?

PRF has higher volatility (2.84%) compared to DFLV (2.53%). In terms of maximum drawdown, PRF dropped -60.35% vs DFLV's -16.80%.

Which ETF is better, PRF or DFLV?

On 3-year performance, PRF leads with 20.80% vs 18.72% for DFLV. On fees, DFLV is cheaper at 0.22% per year. On volatility, DFLV has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRF or DFLV?

Over the 3-year period, PRF has performed better with a 20.80% return vs 18.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRF or DFLV?

DFLV is cheaper with a 0.22% expense ratio, compared with 0.34% for PRF.

Which ETF pays a higher dividend yield, PRF or DFLV?

DFLV has the higher dividend yield at 1.34%, compared with 1.33% for PRF.

What is the main difference between PRF and DFLV?

They also come from different issuers: Invesco and Dimensional. Their fees differ too: 0.34% for PRF and 0.22% for DFLV.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (3.12 vs 3.10), 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.