PRFZ vs. AFSC

Last updated Jun 24, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and AFSC (abrdn Focused U.S. Small Cap Active ETF) are both Small Cap Blend Equities funds. PRFZ is passively managed, while AFSC is actively managed. Over the past year, PRFZ returned 34.11% vs 38.50% for AFSC. Their correlation of 0.91 suggests significant overlap in exposure. PRFZ charges 0.39%/yr vs 0.65%/yr for AFSC.

Performance

PRFZ vs. AFSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) and abrdn Focused U.S. Small Cap Active ETF (AFSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFZ achieves a 16.06% return, which is significantly lower than AFSC's 26.03% return.

PRFZ

• 1D: -0.43%
• 1M: 3.82%
• YTD: 16.06%
• 6M: 13.71%
• 1Y: 34.11%
• 3Y*: 18.53%
• 5Y*: 8.31%
• 10Y*: 12.16%

AFSC

• 1D: 0.38%
• 1M: 8.13%
• YTD: 26.03%
• 6M: 20.70%
• 1Y: 38.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRFZ vs. AFSC - Yearly Performance Comparison

	2026 (YTD)	2025
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	16.06%	7.81%
AFSC abrdn Focused U.S. Small Cap Active ETF	26.03%	2.33%

Correlation

The correlation between PRFZ and AFSC is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 18, 2025	0.91

The correlation between PRFZ and AFSC has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

PRFZ vs. AFSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRFZ

PRFZ Risk / Return Rank: 62
PRFZ Sharpe Ratio Rank: 59
PRFZ Sortino Ratio Rank: 61
PRFZ Omega Ratio Rank: 54
PRFZ Calmar Ratio Rank: 70
PRFZ Martin Ratio Rank: 66

AFSC

AFSC Risk / Return Rank: 67
AFSC Sharpe Ratio Rank: 64
AFSC Sortino Ratio Rank: 63
AFSC Omega Ratio Rank: 56
AFSC Calmar Ratio Rank: 76
AFSC Martin Ratio Rank: 77

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.

PRFZ vs. AFSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) and abrdn Focused U.S. Small Cap Active ETF (AFSC). 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.

	PRFZ	AFSC	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.04	-0.16
Sortino ratio: Return per unit of downside risk	2.68	2.84	-0.16
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.30	3.76	-0.46
Martin ratio: Return relative to average drawdown	11.37	14.29	-2.92

PRFZ vs. AFSC - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.88, which is comparable to the AFSC Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PRFZ and AFSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRFZ vs. AFSC - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than AFSC's maximum drawdown of -21.93%. Use the drawdown chart below to compare losses from any high point for PRFZ and AFSC.

Drawdown Indicators

	PRFZ	AFSC	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-21.93%	-40.48%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-10.29%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-26.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.28%	—	—
Current Drawdown Current decline from peak	-0.43%	0.00%	-0.43%
Average Drawdown Average peak-to-trough decline	-9.40%	-4.13%	-5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.70%	+0.31%

Volatility

PRFZ vs. AFSC - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 5.54% compared to abrdn Focused U.S. Small Cap Active ETF (AFSC) at 5.19%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than AFSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFZ	AFSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	5.19%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	12.96%	14.53%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	19.00%	-0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	22.52%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	22.52%	-0.08%

PRFZ vs. AFSC - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is lower than AFSC's 0.65% expense ratio.

Dividends

PRFZ vs. AFSC - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.81%, more than AFSC's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFSC abrdn Focused U.S. Small Cap Active ETF	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	0.81%	0.82%	1.45%	1.42%	1.33%	0.93%	0.91%	1.29%	1.37%	0.97%	1.31%	1.39%

Frequently Asked Questions

Can I hold both PRFZ and AFSC in my portfolio?

With a correlation of 0.90, PRFZ and AFSC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PRFZ or AFSC?

PRFZ has higher volatility (5.54%) compared to AFSC (5.19%). In terms of maximum drawdown, PRFZ dropped -62.41% vs AFSC's -21.93%.

Which ETF is better, PRFZ or AFSC?

On 1-year performance, AFSC leads with 38.50% vs 34.11% for PRFZ. On fees, PRFZ is cheaper at 0.39% per year. On volatility, AFSC has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFZ or AFSC?

Over the 1-year period, AFSC has performed better with a 38.50% return vs 34.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFZ or AFSC?

PRFZ is cheaper with a 0.39% expense ratio, compared with 0.65% for AFSC.

Which ETF pays a higher dividend yield, PRFZ or AFSC?

PRFZ has the higher dividend yield at 0.81%, compared with 0.06% for AFSC.

What is the main difference between PRFZ and AFSC?

They also come from different issuers: Invesco and Aberdeen. Their fees differ too: 0.39% for PRFZ and 0.65% for AFSC.

Which has better risk-adjusted returns?

AFSC currently has the higher Sharpe Ratio (2.04 vs 1.88), 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.