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PRF vs. SPLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PRF vs. SPLV

Last updated Jun 16, 2026

PRF (Invesco RAFI US 1000 ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. Both are passively managed. Over the past 10 years, PRF returned 13.94%/yr vs 8.33%/yr for SPLV. A 0.74 correlation means they provide meaningful diversification when combined. PRF charges 0.34%/yr vs 0.25%/yr for SPLV.

Performance

PRF vs. SPLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) and Invesco S&P 500 Low Volatility ETF (SPLV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PRF achieves a 16.44% return, which is significantly higher than SPLV's 4.85% return. Over the past 10 years, PRF has outperformed SPLV with an annualized return of 13.94%, while SPLV has yielded a comparatively lower 8.33% annualized return.

PRF

1D
0.68%
1M
4.19%
YTD
16.44%
6M
16.00%
1Y
34.32%
3Y*
20.74%
5Y*
13.06%
10Y*
13.94%

SPLV

1D
-0.36%
1M
2.76%
YTD
4.85%
6M
4.17%
1Y
4.71%
3Y*
8.01%
5Y*
6.29%
10Y*
8.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PRF vs. SPLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PRF
Invesco RAFI US 1000 ETF		16.44%18.33%16.73%15.72%-7.79%31.12%7.78%27.42%-8.71%16.01%
SPLV
Invesco S&P 500 Low Volatility ETF		4.85%4.10%13.93%0.53%-4.88%24.13%-1.39%27.87%-0.19%17.32%

Correlation

The correlation between PRF and SPLV is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since May 5, 2011

0.74

Over the past year, the correlation between PRF and SPLV has dropped to 0.42 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

PRF vs. SPLV - Sectors Allocation Comparison

Sectors
PRF
SPLV

Technology

23.1%
0.8%

Financial Services

15.4%
21.3%

Healthcare

12.0%
4.0%

Communication Services

9.4%
0.8%

Industrials

8.9%
12.2%

Consumer Cyclical

8.7%
4.0%

Energy

7.9%
2.7%

Consumer Defensive

6.0%
9.4%

Basic Materials

3.3%
2.1%

Utilities

3.0%
24.9%

Real Estate

2.4%
17.8%

Technology

PRF
23.1%
SPLV
0.8%

Financial Services

PRF
15.4%
SPLV
21.3%

Healthcare

PRF
12.0%
SPLV
4.0%

Communication Services

PRF
9.4%
SPLV
0.8%

Industrials

PRF
8.9%
SPLV
12.2%

Consumer Cyclical

PRF
8.7%
SPLV
4.0%

Energy

PRF
7.9%
SPLV
2.7%

Consumer Defensive

PRF
6.0%
SPLV
9.4%

Basic Materials

PRF
3.3%
SPLV
2.1%

Utilities

PRF
3.0%
SPLV
24.9%

Real Estate

PRF
2.4%
SPLV
17.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco RAFI US 1000 ETF

Invesco S&P 500 Low Volatility ETF

Often compared with PRF:
PRF vs. SPYPRF vs. VOOPRF vs. RSPPRF vs. PFMPRF vs. VTVPRF vs. SCHDPRF vs. PXF
Often compared with SPLV:
SPLV vs. USMVSPLV vs. SPYSPLV vs. SPHBSPLV vs. VOOSPLV vs. SPHDSPLV vs. JEPISPLV vs. DGRW

Return for Risk

PRF vs. SPLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PRF
PRF Risk / Return Rank: 9393
Overall Rank
PRF Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
PRF Sortino Ratio Rank: 9494
Sortino Ratio Rank
PRF Omega Ratio Rank: 9393
Omega Ratio Rank
PRF Calmar Ratio Rank: 9191
Calmar Ratio Rank
PRF Martin Ratio Rank: 9393
Martin Ratio Rank
SPLV
SPLV Risk / Return Rank: 1717
Overall Rank
SPLV Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
SPLV Sortino Ratio Rank: 1616
Sortino Ratio Rank
SPLV Omega Ratio Rank: 1515
Omega Ratio Rank
SPLV Calmar Ratio Rank: 1818
Calmar Ratio Rank
SPLV Martin Ratio Rank: 1717
Martin Ratio Rank
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. SPLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Invesco S&P 500 Low Volatility ETF (SPLV). 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.

PRFSPLVDifference
Sharpe ratioReturn per unit of total volatility
3.16
0.47

+2.69

Sortino ratioReturn per unit of downside risk
4.34
0.73

+3.60

Omega ratioGain probability vs. loss probability

1.58

1.08

+0.49

Calmar ratioReturn relative to maximum drawdown

5.23

0.64

+4.59

Martin ratioReturn relative to average drawdown

21.40

1.50

+19.90

PRF vs. SPLV - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 3.16, which is higher than the SPLV Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of PRF and SPLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PRF vs. SPLV - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, which is greater than SPLV's maximum drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for PRF and SPLV.

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Drawdown Indicators

PRFSPLVDifference

Max Drawdown

Largest peak-to-trough decline

-60.35%

-36.26%

-24.09%

Max Drawdown (1Y)

Largest decline over 1 year

-6.59%

-7.41%

+0.82%

Max Drawdown (3Y)

Largest decline over 3 years

-15.82%

-9.64%

-6.18%

Max Drawdown (5Y)

Largest decline over 5 years

-19.72%

-17.26%

-2.46%

Max Drawdown (10Y)

Largest decline over 10 years

-38.16%

-36.26%

-1.90%

Current Drawdown

Current decline from peak

0.00%

-3.66%

+3.66%

Average Drawdown

Average peak-to-trough decline

-6.92%

-3.55%

-3.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.61%

3.15%

-1.54%

Volatility

PRF vs. SPLV - Volatility Comparison

The current volatility for Invesco RAFI US 1000 ETF (PRF) is 3.64%, while Invesco S&P 500 Low Volatility ETF (SPLV) has a volatility of 4.03%. This indicates that PRF experiences smaller price fluctuations and is considered to be less risky than SPLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PRFSPLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.64%

4.03%

-0.39%

Volatility (6M)

Calculated over the trailing 6-month period

8.18%

7.20%

+0.98%

Volatility (1Y)

Calculated over the trailing 1-year period

10.93%

10.08%

+0.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.24%

12.51%

+2.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.69%

15.38%

+2.31%

PRF vs. SPLV - Expense Ratio Comparison

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

Dividends

PRF vs. SPLV - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.36%, less than SPLV's 2.15% yield.

PositionTTM20252024202320222021202020192018201720162015
PRF
Invesco RAFI US 1000 ETF		1.36%1.59%1.78%1.84%2.01%1.58%1.97%1.99%2.25%1.58%2.17%2.25%
SPLV
Invesco S&P 500 Low Volatility ETF		2.15%2.04%1.88%2.45%2.11%1.51%2.12%2.08%2.18%2.03%2.03%2.28%

Frequently Asked Questions

PRF and SPLV have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPLV has higher volatility (4.03%) compared to PRF (3.64%). In terms of maximum drawdown, PRF dropped -60.35% vs SPLV's -36.26%.

On 10-year performance, PRF leads with 13.94% vs 8.33% for SPLV. On fees, SPLV is cheaper at 0.25% per year. On volatility, PRF has been the lower-risk option at 3.64%. 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 13.94% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SPLV has the higher dividend yield at 2.15%, compared with 1.36% for PRF.

PRF is categorized as Large Cap Value Equities, while SPLV is S&P 500. PRF tracks RAFI Fundamental Select US 1000 Index, while SPLV tracks S&P 500 Low Volatility Index. Their fees differ too: 0.34% for PRF and 0.25% for SPLV.

PRF currently has the higher Sharpe Ratio (3.16 vs 0.47), 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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