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PRF vs. VSS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PRF vs. VSS

Last updated Jun 14, 2026

PRF (Invesco RAFI US 1000 ETF) and VSS (Vanguard FTSE All-World ex-US Small-Cap ETF) are both exchange-traded funds - PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while VSS is a Foreign Small & Mid Cap Equities fund tracking the FTSE Global Small Cap ex US Index. Both are passively managed. Over the past 10 years, PRF returned 13.91%/yr vs 8.49%/yr for VSS. A 0.79 correlation means they provide meaningful diversification when combined. PRF charges 0.34%/yr vs 0.07%/yr for VSS.

Performance

PRF vs. VSS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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 15.65% return, which is significantly higher than VSS's 10.04% return. Over the past 10 years, PRF has outperformed VSS with an annualized return of 13.91%, while VSS has yielded a comparatively lower 8.49% annualized return.

PRF

1D
0.88%
1M
3.48%
YTD
15.65%
6M
15.18%
1Y
33.40%
3Y*
20.72%
5Y*
12.67%
10Y*
13.91%

VSS

1D
0.50%
1M
0.08%
YTD
10.04%
6M
12.05%
1Y
24.95%
3Y*
15.73%
5Y*
5.58%
10Y*
8.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PRF vs. VSS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PRF
Invesco RAFI US 1000 ETF		15.65%18.33%16.73%15.72%-7.79%31.12%7.78%27.42%-8.71%16.01%
VSS
Vanguard FTSE All-World ex-US Small-Cap ETF		10.04%29.61%2.94%15.52%-21.48%13.05%11.81%21.36%-18.48%30.61%

Correlation

The correlation between PRF and VSS 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

0.76

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

0.75

Correlation (All Time)
Calculated using the full available price history since Apr 6, 2009

0.79

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

PRF vs. VSS - Sectors Allocation Comparison

Sectors
PRF
VSS

Technology

23.1%
13.9%

Financial Services

15.4%
14.2%

Healthcare

12.0%
4.3%

Communication Services

9.4%
2.0%

Industrials

8.9%
19.9%

Consumer Cyclical

8.7%
7.3%

Energy

7.9%
8.4%

Consumer Defensive

6.0%
2.7%

Basic Materials

3.3%
16.0%

Utilities

3.0%
3.6%

Real Estate

2.4%
7.2%

Technology

PRF
23.1%
VSS
13.9%

Financial Services

PRF
15.4%
VSS
14.2%

Healthcare

PRF
12.0%
VSS
4.3%

Communication Services

PRF
9.4%
VSS
2.0%

Industrials

PRF
8.9%
VSS
19.9%

Consumer Cyclical

PRF
8.7%
VSS
7.3%

Energy

PRF
7.9%
VSS
8.4%

Consumer Defensive

PRF
6.0%
VSS
2.7%

Basic Materials

PRF
3.3%
VSS
16.0%

Utilities

PRF
3.0%
VSS
3.6%

Real Estate

PRF
2.4%
VSS
7.2%

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

Vanguard FTSE All-World ex-US Small-Cap ETF

Often compared with PRF:
PRF vs. SPYPRF vs. VOOPRF vs. RSPPRF vs. PFMPRF vs. VTVPRF vs. SCHDPRF vs. PXF
Often compared with VSS:
VSS vs. AVDVVSS vs. VEUVSS vs. VXUSVSS vs. SCHCVSS vs. SCZVSS vs. VWOVSS vs. VOO

Return for Risk

PRF vs. VSS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PRF
PRF Risk / Return Rank: 9292
Overall Rank
PRF Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PRF Sortino Ratio Rank: 9393
Sortino Ratio Rank
PRF Omega Ratio Rank: 9292
Omega Ratio Rank
PRF Calmar Ratio Rank: 9090
Calmar Ratio Rank
PRF Martin Ratio Rank: 9292
Martin Ratio Rank
VSS
VSS Risk / Return Rank: 4949
Overall Rank
VSS Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VSS Sortino Ratio Rank: 4848
Sortino Ratio Rank
VSS Omega Ratio Rank: 5151
Omega Ratio Rank
VSS Calmar Ratio Rank: 4646
Calmar Ratio Rank
VSS Martin Ratio Rank: 5151
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. VSS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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.

PRFVSSDifference
Sharpe ratioReturn per unit of total volatility
2.95
1.51

+1.44

Sortino ratioReturn per unit of downside risk
4.07
2.10

+1.98

Omega ratioGain probability vs. loss probability

1.54

1.28

+0.26

Calmar ratioReturn relative to maximum drawdown

4.90

2.03

+2.88

Martin ratioReturn relative to average drawdown

20.07

7.61

+12.46

PRF vs. VSS - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 2.95, which is higher than the VSS Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PRF and VSS, 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. VSS - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, which is greater than VSS's maximum drawdown of -43.51%. Use the drawdown chart below to compare losses from any high point for PRF and VSS.

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Drawdown Indicators

PRFVSSDifference

Max Drawdown

Largest peak-to-trough decline

-60.35%

-43.51%

-16.84%

Max Drawdown (1Y)

Largest decline over 1 year

-6.59%

-11.62%

+5.03%

Max Drawdown (3Y)

Largest decline over 3 years

-15.82%

-15.73%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-19.72%

-33.93%

+14.21%

Max Drawdown (10Y)

Largest decline over 10 years

-38.16%

-43.51%

+5.35%

Current Drawdown

Current decline from peak

-0.00%

-3.05%

+3.05%

Average Drawdown

Average peak-to-trough decline

-6.92%

-9.63%

+2.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.61%

3.09%

-1.48%

Volatility

PRF vs. VSS - Volatility Comparison

The current volatility for Invesco RAFI US 1000 ETF (PRF) is 3.60%, while Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) has a volatility of 6.52%. This indicates that PRF experiences smaller price fluctuations and is considered to be less risky than VSS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PRFVSSDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

6.52%

-2.92%

Volatility (6M)

Calculated over the trailing 6-month period

8.17%

13.55%

-5.38%

Volatility (1Y)

Calculated over the trailing 1-year period

10.95%

15.60%

-4.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.23%

16.59%

-1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.68%

17.30%

+0.38%

PRF vs. VSS - Expense Ratio Comparison

PRF has a 0.34% expense ratio, which is higher than VSS's 0.07% expense ratio.

Dividends

PRF vs. VSS - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.37%, less than VSS's 3.08% yield.

PositionTTM20252024202320222021202020192018201720162015
PRF
Invesco RAFI US 1000 ETF		1.37%1.59%1.78%1.84%2.01%1.58%1.97%1.99%2.25%1.58%2.17%2.25%
VSS
Vanguard FTSE All-World ex-US Small-Cap ETF		3.08%3.39%3.44%3.14%2.30%2.74%1.90%3.25%2.80%2.83%2.93%2.66%

Frequently Asked Questions

PRF and VSS 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.

VSS has higher volatility (6.52%) compared to PRF (3.60%). In terms of maximum drawdown, PRF dropped -60.35% vs VSS's -43.51%.

On 10-year performance, PRF leads with 13.91% vs 8.49% for VSS. On fees, VSS is cheaper at 0.07% per year. On volatility, PRF has been the lower-risk option at 3.60%. 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 13.91% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VSS is cheaper with a 0.07% expense ratio, compared with 0.34% for PRF.

VSS has the higher dividend yield at 3.08%, compared with 1.37% for PRF.

PRF is categorized as Large Cap Value Equities, while VSS is Foreign Small & Mid Cap Equities. PRF tracks RAFI Fundamental Select US 1000 Index, while VSS tracks FTSE Global Small Cap ex US Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.34% for PRF and 0.07% for VSS.

PRF currently has the higher Sharpe Ratio (2.95 vs 1.51), 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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