PRF vs. FNDX

Last updated Jun 4, 2026

PRF (Invesco RAFI US 1000 ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds - PRF tracks the RAFI Fundamental Select US 1000 Index while FNDX tracks the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 10 years, PRF returned 13.67%/yr vs 14.26%/yr for FNDX. With a 0.99 correlation, they move nearly in lockstep. PRF charges 0.34%/yr vs 0.25%/yr for FNDX.

Performance

PRF vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PRF having a 14.79% return and FNDX slightly lower at 14.57%. Both investments have delivered pretty close results over the past 10 years, with PRF having a 13.67% annualized return and FNDX not far ahead at 14.26%.

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%

FNDX

• 1D: -0.13%
• 1M: 3.88%
• YTD: 14.57%
• 6M: 14.58%
• 1Y: 32.32%
• 3Y*: 20.90%
• 5Y*: 12.82%
• 10Y*: 14.26%

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

PRF vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.57%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between PRF and FNDX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.99

The correlation between PRF and FNDX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

PRF vs. FNDX - Sectors Allocation Comparison

Sectors	PRF	FNDX
Technology	20.9%	19.1%
Financial Services	15.4%	14.1%
Healthcare	11.7%	12.0%
Communication Services	10.2%	10.1%
Industrials	9.2%	9.3%
Consumer Cyclical	9.1%	9.2%
Energy	8.2%	10.3%
Consumer Defensive	6.3%	7.4%
Basic Materials	3.4%	3.7%
Utilities	3.1%	3.2%
Real Estate	2.5%	1.8%

Return for Risk

PRF vs. FNDX — Risk / Return Rank

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

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

FNDX

FNDX Risk / Return Rank: 90
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 89
FNDX Martin Ratio Rank: 90

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.

PRF vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.

	PRF	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	3.18	-0.08
Sortino ratio: Return per unit of downside risk	4.33	4.47	-0.14
Omega ratio: Gain probability vs. loss probability	1.57	1.59	-0.02
Calmar ratio: Return relative to maximum drawdown	5.00	5.35	-0.35
Martin ratio: Return relative to average drawdown	20.67	20.97	-0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRF vs. FNDX - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 3.10, which is comparable to the FNDX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of PRF and FNDX, 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

	PRF	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	3.18	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.85	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.82	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.79	-0.31

Drawdowns

PRF vs. FNDX - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for PRF and FNDX.

Drawdown Indicators

	PRF	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-60.35%	-37.72%	-22.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-6.06%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	-16.30%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-19.06%	-0.66%
Max Drawdown (10Y) Largest decline over 10 years	-38.16%	-37.72%	-0.44%
Current Drawdown Current decline from peak	-0.20%	-0.13%	-0.07%
Average Drawdown Average peak-to-trough decline	-6.93%	-3.55%	-3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.55%	+0.04%

Volatility

PRF vs. FNDX - Volatility Comparison

Invesco RAFI US 1000 ETF (PRF) has a higher volatility of 2.64% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.25%. This indicates that PRF's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRF	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.25%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	7.25%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	10.22%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	15.18%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	17.50%	+0.17%

PRF vs. FNDX - Expense Ratio Comparison

PRF has a 0.34% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

PRF vs. FNDX - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.38%, less than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
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 PRF and FNDX in my portfolio?

With a correlation of 0.99, PRF and FNDX 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 FNDX?

PRF has higher volatility (2.64%) compared to FNDX (2.25%). In terms of maximum drawdown, PRF dropped -60.35% vs FNDX's -37.72%.

Which ETF is better, PRF or FNDX?

On 10-year performance, FNDX leads with 14.26% vs 13.67% for PRF. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRF or FNDX?

Over the 10-year period, FNDX has performed better with a 14.26% return vs 13.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRF or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.34% for PRF.

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

FNDX has the higher dividend yield at 1.45%, compared with 1.38% for PRF.

What is the main difference between PRF and FNDX?

PRF tracks RAFI Fundamental Select US 1000 Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.34% for PRF and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 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.