PRF vs. PXF

Last updated Jun 4, 2026

PRF (Invesco RAFI US 1000 ETF) and PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) are both exchange-traded funds - PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index. Both are passively managed. Over the past 10 years, PRF returned 13.67%/yr vs 11.80%/yr for PXF. A 0.79 correlation means they provide meaningful diversification when combined. PRF charges 0.34%/yr vs 0.45%/yr for PXF.

Performance

PRF vs. PXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRF achieves a 14.79% return, which is significantly lower than PXF's 20.42% return. Over the past 10 years, PRF has outperformed PXF with an annualized return of 13.67%, while PXF has yielded a comparatively lower 11.80% 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%

PXF

• 1D: -0.70%
• 1M: 6.92%
• YTD: 20.42%
• 6M: 24.34%
• 1Y: 44.15%
• 3Y*: 25.13%
• 5Y*: 13.47%
• 10Y*: 11.80%

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

PRF vs. PXF - 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%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	20.42%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%

Correlation

The correlation between PRF and PXF is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 26, 2007	0.79

The correlation between PRF and PXF has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

PRF vs. PXF - Sectors Allocation Comparison

Sectors	PRF	PXF
Technology	20.9%	11.4%
Financial Services	15.4%	19.7%
Healthcare	11.7%	7.2%
Communication Services	10.2%	4.3%
Industrials	9.2%	15.1%
Consumer Cyclical	9.1%	10.2%
Energy	8.2%	10.6%
Consumer Defensive	6.3%	6.1%
Basic Materials	3.4%	10.1%
Utilities	3.1%	3.6%
Real Estate	2.5%	1.8%

Return for Risk

PRF vs. PXF — 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

PXF

PXF Risk / Return Rank: 83
PXF Sharpe Ratio Rank: 87
PXF Sortino Ratio Rank: 84
PXF Omega Ratio Rank: 85
PXF Calmar Ratio Rank: 79
PXF Martin Ratio Rank: 79

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. PXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF). 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	PXF	Difference
Sharpe ratio: Return per unit of total volatility	3.10	2.92	+0.19
Sortino ratio: Return per unit of downside risk	4.33	3.83	+0.50
Omega ratio: Gain probability vs. loss probability	1.57	1.52	+0.04
Calmar ratio: Return relative to maximum drawdown	5.00	4.07	+0.93
Martin ratio: Return relative to average drawdown	20.67	15.61	+5.06
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. PXF - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 3.10, which is comparable to the PXF Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of PRF and PXF, 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	PXF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.92	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.82	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.66	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.24	+0.24

Drawdowns

PRF vs. PXF - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, smaller than the maximum PXF drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for PRF and PXF.

Drawdown Indicators

	PRF	PXF	Difference
Max Drawdown Largest peak-to-trough decline	-60.35%	-64.74%	+4.39%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-10.91%	+4.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	-14.06%	-1.76%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-26.82%	+7.10%
Max Drawdown (10Y) Largest decline over 10 years	-38.16%	-41.59%	+3.43%
Current Drawdown Current decline from peak	-0.20%	-0.70%	+0.50%
Average Drawdown Average peak-to-trough decline	-6.93%	-15.27%	+8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	2.84%	-1.25%

Volatility

PRF vs. PXF - Volatility Comparison

The current volatility for Invesco RAFI US 1000 ETF (PRF) is 2.64%, while Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a volatility of 5.33%. This indicates that PRF experiences smaller price fluctuations and is considered to be less risky than PXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRF	PXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	5.33%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	12.86%	-5.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	15.24%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	16.45%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	18.04%	-0.37%

PRF vs. PXF - Expense Ratio Comparison

PRF has a 0.34% expense ratio, which is lower than PXF's 0.45% expense ratio.

Dividends

PRF vs. PXF - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.38%, less than PXF's 3.07% 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%
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.07%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%

Frequently Asked Questions

Can I hold both PRF and PXF in my portfolio?

PRF and PXF 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.

Which is riskier, PRF or PXF?

PXF has higher volatility (5.33%) compared to PRF (2.64%). In terms of maximum drawdown, PRF dropped -60.35% vs PXF's -64.74%.

Which ETF is better, PRF or PXF?

On 10-year performance, PRF leads with 13.67% vs 11.80% for PXF. On fees, PRF is cheaper at 0.34% per year. On volatility, PRF has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRF or PXF?

Over the 10-year period, PRF has performed better with a 13.67% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRF or PXF?

PRF is cheaper with a 0.34% expense ratio, compared with 0.45% for PXF.

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

PXF has the higher dividend yield at 3.07%, compared with 1.38% for PRF.

What is the main difference between PRF and PXF?

PRF is categorized as Large Cap Value Equities, while PXF is Foreign Large Cap Equities. PRF tracks RAFI Fundamental Select US 1000 Index, while PXF tracks FTSE RAFI Developed Markets ex-U.S. Index. Their fees differ too: 0.34% for PRF and 0.45% for PXF.

Which has better risk-adjusted returns?

PRF currently has the higher Sharpe Ratio (3.10 vs 2.92), 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.