PRF vs. PFF
PRF (Invesco RAFI US 1000 ETF) and PFF (iShares Preferred and Income Securities ETF) are both exchange-traded funds - PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while PFF is a Preferred Stock fund tracking the ICE Exchange-Listed Preferred & Hybrid Securities Index. Both are passively managed. Over the past 10 years, PRF returned 13.75%/yr vs 3.03%/yr for PFF. Their 0.55 correlation means they have sometimes moved together and sometimes differently. PRF charges 0.34%/yr vs 0.46%/yr for PFF.
Performance
PRF vs. PFF - Performance Comparison
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Returns By Period
In the year-to-date period, PRF achieves a 19.74% return, which is significantly higher than PFF's 2.26% return. Over the past 10 years, PRF has outperformed PFF with an annualized return of 13.75%, while PFF has yielded a comparatively lower 3.03% annualized 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%
PFF
- 1D
- 0.03%
- 1M
- 0.47%
- 6M
- 0.14%
- YTD
- 2.26%
- 1Y
- 3.89%
- 3Y*
- 6.34%
- 5Y*
- 0.90%
- 10Y*
- 3.03%
- ALL TIME*
- 3.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $93.14M | $84.03M | $92.87M | |
| $14.15M | $15.87M | $21.40M |
PRF vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRF Invesco RAFI US 1000 ETF | 19.74% | 18.33% | 16.73% | 15.72% | -7.79% | 31.12% | 7.78% | 27.42% | -8.71% | 16.01% |
PFF iShares Preferred and Income Securities ETF | 2.26% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | 8.10% |
Correlation
The correlation between PRF and PFF is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.55 |
The correlation between PRF and PFF shifts across timeframes, from 0.55 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRF vs. PFF — Risk / Return Rank
PRF
PFF
PRF vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and iShares Preferred and Income Securities ETF (PFF). 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 | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.09 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 5.08 | 0.74 | +4.34 |
| Martin ratioReturn relative to average drawdown | 21.28 | 1.89 | +19.39 |
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Drawdowns
PRF vs. PFF - Drawdown Comparison
The maximum PRF drawdown since its inception was -60.35%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PRF and PFF.
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Drawdown Indicators
| PRF | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -65.55% | +5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -5.28% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -10.63% | -5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | -21.05% | +1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -34.10% | -4.06% |
Current DrawdownCurrent decline from peak | -0.45% | -1.75% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -6.88% | -5.74% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 2.06% | -0.49% |
Volatility
PRF vs. PFF - Volatility Comparison
Invesco RAFI US 1000 ETF (PRF) has a higher volatility of 2.84% compared to iShares Preferred and Income Securities ETF (PFF) at 2.53%. This indicates that PRF's price experiences larger fluctuations and is considered to be riskier than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRF | PFF | 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% | 5.94% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 7.35% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.11% | 10.42% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.60% | 12.70% | +4.90% |
PRF vs. PFF - Expense Ratio Comparison
PRF has a 0.34% expense ratio, which is lower than PFF's 0.46% expense ratio.
Dividends
PRF vs. PFF - Dividend Comparison
PRF's dividend yield for the trailing twelve months is around 1.33%, less than PFF's 5.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 5.39% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
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
PRF and PFF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRF has higher volatility (2.84%) compared to PFF (2.53%). In terms of maximum drawdown, PRF dropped -60.35% vs PFF's -65.55%.
On 10-year performance, PRF leads with 13.75% vs 3.03% for PFF. On fees, PRF is cheaper at 0.34% per year. On volatility, PFF has been the lower-risk option at 2.53%. 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 13.75% return vs 3.03%. 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 0.46% for PFF.
PFF has the higher dividend yield at 5.39%, compared with 1.33% for PRF.
PRF is categorized as Large Cap Value Equities, while PFF is Preferred Stock. PRF tracks RAFI Fundamental Select US 1000 Index, while PFF tracks ICE Exchange-Listed Preferred & Hybrid Securities Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.34% for PRF and 0.46% for PFF.
PRF currently has the higher Sharpe Ratio (3.10 vs 0.53), 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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