PRFZ vs. ASCE

Last updated Jun 24, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. PRFZ is passively managed, while ASCE is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. PRFZ charges 0.39%/yr vs 0.38%/yr for ASCE.

Performance

PRFZ vs. ASCE - 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 Allspring SMID Core ETF (ASCE). 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 ASCE's 31.27% 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%

ASCE

• 1D: 1.63%
• 1M: 8.80%
• YTD: 31.27%
• 6M: 25.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRFZ vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	16.06%	11.10%
ASCE Allspring SMID Core ETF	31.27%	8.46%

Correlation

The correlation between PRFZ and ASCE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.91

Return for Risk

PRFZ vs. ASCE — 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

ASCE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. ASCE - 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 Allspring SMID Core ETF (ASCE). 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	ASCE	Difference
Sharpe ratio: Return per unit of total volatility	1.88	—	—
Sortino ratio: Return per unit of downside risk	2.68	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.30	—	—
Martin ratio: Return relative to average drawdown	11.37	—	—

Drawdowns

PRFZ vs. ASCE - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for PRFZ and ASCE.

Drawdown Indicators

	PRFZ	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-9.22%	-53.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	—	—
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%	-2.01%	-7.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	—	—

Volatility

Volatility by Period

	PRFZ	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	19.66%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	19.66%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	19.66%	+2.78%

PRFZ vs. ASCE - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than ASCE's 0.38% expense ratio.

Dividends

PRFZ vs. ASCE - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.81%, more than ASCE's 0.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCE Allspring SMID Core ETF	0.16%	0.22%	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 ASCE in my portfolio?

With a correlation of 0.91, PRFZ and ASCE 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 ETF is better, PRFZ or ASCE?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRFZ or ASCE?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.39% for PRFZ.

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

PRFZ has the higher dividend yield at 0.81%, compared with 0.16% for ASCE.

What is the main difference between PRFZ and ASCE?

They also come from different issuers: Invesco and Allspring. Their fees differ too: 0.39% for PRFZ and 0.38% for ASCE.