PRFZ vs. DFSVX

Last updated Jul 22, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and DFSVX (DFA U.S. Small Cap Value Portfolio I) are both funds - PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index, while DFSVX is a Small Cap Value Equities fund actively managed by Dimensional. PRFZ is passively managed, while DFSVX is actively managed. Over the past 10 years, PRFZ returned 11.70%/yr vs 11.45%/yr for DFSVX. With a 0.96 correlation, they move nearly in lockstep. PRFZ charges 0.39%/yr vs 0.30%/yr for DFSVX.

Performance

PRFZ vs. DFSVX - 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 DFA U.S. Small Cap Value Portfolio I (DFSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PRFZ having a 19.43% return and DFSVX slightly higher at 19.81%. Both investments have delivered pretty close results over the past 10 years, with PRFZ having a 11.70% annualized return and DFSVX not far behind at 11.45%.

PRFZ

• 1D: 1.26%
• 1M: 2.57%
• 6M: 13.47%
• YTD: 19.43%
• 1Y: 31.60%
• 3Y*: 16.34%
• 5Y*: 10.13%
• 10Y*: 11.70%
• ALL TIME*: 10.13%

DFSVX

• 1D: -0.89%
• 1M: 2.78%
• 6M: 14.28%
• YTD: 19.81%
• 1Y: 30.90%
• 3Y*: 16.05%
• 5Y*: 12.39%
• 10Y*: 11.45%
• ALL TIME*: 11.48%

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

PRFZ vs. DFSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	19.43%	11.26%	12.68%	20.21%	-16.29%	28.26%	11.84%	21.91%	-11.43%	13.82%
DFSVX DFA U.S. Small Cap Value Portfolio I	19.81%	8.37%	9.58%	19.02%	-3.57%	39.97%	2.24%	18.15%	-15.13%	6.82%

Correlation

The correlation between PRFZ and DFSVX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 20, 2006	0.96

The correlation between PRFZ and DFSVX shifts across timeframes, from 0.86 (1 year) to 0.96 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRFZ vs. DFSVX — Risk / Return Rank

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

PRFZ

PRFZ Risk / Return Rank: 74
PRFZ Sharpe Ratio Rank: 73
PRFZ Sortino Ratio Rank: 75
PRFZ Omega Ratio Rank: 67
PRFZ Calmar Ratio Rank: 79
PRFZ Martin Ratio Rank: 77

DFSVX

DFSVX Risk / Return Rank: 75
DFSVX Sharpe Ratio Rank: 72
DFSVX Sortino Ratio Rank: 74
DFSVX Omega Ratio Rank: 67
DFSVX Calmar Ratio Rank: 85
DFSVX Martin Ratio Rank: 76

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. DFSVX - 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 DFA U.S. Small Cap Value Portfolio I (DFSVX). 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	DFSVX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.82	-0.06
Sortino ratio: Return per unit of downside risk	2.55	2.70	-0.16
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	3.06	3.22	-0.16
Martin ratio: Return relative to average drawdown	10.42	10.34	+0.07

PRFZ vs. DFSVX - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.75, which is comparable to the DFSVX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of PRFZ and DFSVX, 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. DFSVX - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, smaller than the maximum DFSVX drawdown of -66.70%. Use the drawdown chart below to compare losses from any high point for PRFZ and DFSVX.

Drawdown Indicators

	PRFZ	DFSVX	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-66.70%	+4.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-9.59%	-0.79%
Max Drawdown (3Y) Largest decline over 3 years	-26.54%	-27.69%	+1.15%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-27.69%	+1.11%
Max Drawdown (10Y) Largest decline over 10 years	-44.28%	-52.12%	+7.84%
Current Drawdown Current decline from peak	-2.13%	-1.67%	-0.46%
Average Drawdown Average peak-to-trough decline	-9.37%	-9.44%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.97%	+0.07%

Volatility

PRFZ vs. DFSVX - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 3.74% compared to DFA U.S. Small Cap Value Portfolio I (DFSVX) at 3.10%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than DFSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFZ	DFSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	3.10%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	11.25%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	18.09%	17.03%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	21.24%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	23.79%	-1.41%

PRFZ vs. DFSVX - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than DFSVX's 0.30% expense ratio.

Dividends

PRFZ vs. DFSVX - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.79%, less than DFSVX's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSVX DFA U.S. Small Cap Value Portfolio I	1.52%	1.69%	1.47%	3.67%	6.77%	10.40%	1.96%	2.83%	7.54%	5.18%	4.18%	5.29%
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	0.79%	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 DFSVX in my portfolio?

PRFZ and DFSVX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRFZ or DFSVX?

PRFZ has higher volatility (3.74%) compared to DFSVX (3.10%). In terms of maximum drawdown, PRFZ dropped -62.41% vs DFSVX's -66.70%.

Which has better risk-adjusted returns?

DFSVX currently has the higher Sharpe Ratio (1.82 vs 1.75), 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.