PRF vs. PWV
PRF (Invesco RAFI US 1000 ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds from Invesco - PRF tracks the RAFI Fundamental Select US 1000 Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, PRF returned 13.67%/yr vs 11.81%/yr for PWV. Their correlation of 0.92 suggests significant overlap in exposure. PRF charges 0.34%/yr vs 0.58%/yr for PWV.
Performance
PRF vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, PRF achieves a 14.79% return, which is significantly higher than PWV's 12.10% return. Over the past 10 years, PRF has outperformed PWV with an annualized return of 13.67%, while PWV has yielded a comparatively lower 11.81% annualized return.
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%
PWV
- 1D
- -0.14%
- 1M
- 2.43%
- YTD
- 12.10%
- 6M
- 12.38%
- 1Y
- 25.33%
- 3Y*
- 20.79%
- 5Y*
- 12.50%
- 10Y*
- 11.81%
PRF vs. PWV - 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% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
Correlation
The correlation between PRF and PWV is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2005 | 0.92 |
The correlation between PRF and PWV shifts across timeframes, from 0.79 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRF vs. PWV — Risk / Return Rank
PRF
PWV
PRF vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Invesco Dynamic Large Cap Value ETF (PWV). 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 | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.48 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.00 | 6.28 | -1.28 |
| Martin ratioReturn relative to average drawdown | 20.67 | 21.16 | -0.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRF | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 2.74 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.88 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.69 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.41 | +0.07 |
Drawdowns
PRF vs. PWV - Drawdown Comparison
The maximum PRF drawdown since its inception was -60.35%, which is greater than PWV's maximum drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for PRF and PWV.
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Drawdown Indicators
| PRF | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -49.04% | -11.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -4.05% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -14.31% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | -16.36% | -3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -37.67% | -0.49% |
Current DrawdownCurrent decline from peak | -0.20% | -0.51% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -9.50% | +2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.20% | +0.39% |
Volatility
PRF vs. PWV - Volatility Comparison
Invesco RAFI US 1000 ETF (PRF) has a higher volatility of 2.64% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that PRF's price experiences larger fluctuations and is considered to be riskier than PWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRF | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.35% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 6.62% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.63% | 9.31% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 14.35% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 17.16% | +0.51% |
PRF vs. PWV - Expense Ratio Comparison
PRF has a 0.34% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
PRF vs. PWV - Dividend Comparison
PRF's dividend yield for the trailing twelve months is around 1.38%, less than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PWV Invesco Dynamic Large Cap Value ETF | 1.81% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
Frequently Asked Questions
PRF and PWV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRF has higher volatility (2.64%) compared to PWV (2.35%). In terms of maximum drawdown, PRF dropped -60.35% vs PWV's -49.04%.
On 10-year performance, PRF leads with 13.67% vs 11.81% for PWV. On fees, PRF is cheaper at 0.34% per year. On volatility, PWV has been the lower-risk option at 2.35%. 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 13.67% return vs 11.81%. 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 0.58% for PWV.
PWV has the higher dividend yield at 1.81%, compared with 1.38% for PRF.
PRF tracks RAFI Fundamental Select US 1000 Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). Their fees differ too: 0.34% for PRF and 0.58% for PWV.
PRF currently has the higher Sharpe Ratio (3.10 vs 2.74), 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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