PRFZ vs. HSMV
Compare and contrast key facts about Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV).
PRFZ and HSMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PRFZ is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI US 1500 Small-Mid Index. It was launched on Sep 20, 2006. HSMV is an actively managed fund by First Trust. It was launched on Apr 6, 2020.
Performance
PRFZ vs. HSMV - Performance Comparison
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PRFZ vs. HSMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF | 0.18% | 11.26% | 12.68% | 20.21% | -16.29% | 28.26% | 72.29% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 1.79% | 1.57% | 13.17% | 5.01% | -9.44% | 23.72% | 34.70% |
Returns By Period
In the year-to-date period, PRFZ achieves a 0.18% return, which is significantly lower than HSMV's 1.79% return.
PRFZ
- 1D
- 3.16%
- 1M
- -5.16%
- YTD
- 0.18%
- 6M
- 1.47%
- 1Y
- 22.36%
- 3Y*
- 13.14%
- 5Y*
- 6.39%
- 10Y*
- 10.68%
HSMV
- 1D
- 0.83%
- 1M
- -5.20%
- YTD
- 1.79%
- 6M
- 0.63%
- 1Y
- 2.50%
- 3Y*
- 7.20%
- 5Y*
- 4.19%
- 10Y*
- —
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PRFZ vs. HSMV - Expense Ratio Comparison
PRFZ has a 0.39% expense ratio, which is lower than HSMV's 0.80% expense ratio.
Return for Risk
PRFZ vs. HSMV — Risk / Return Rank
PRFZ
HSMV
PRFZ vs. HSMV - 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 First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). 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.
| PRFZ | HSMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.18 | +0.82 |
Sortino ratioReturn per unit of downside risk | 1.53 | 0.36 | +1.17 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.05 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.59 | 0.30 | +1.29 |
Martin ratioReturn relative to average drawdown | 6.02 | 1.11 | +4.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRFZ | HSMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 0.18 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.28 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.67 | -0.29 |
Correlation
The correlation between PRFZ and HSMV is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PRFZ vs. HSMV - Dividend Comparison
PRFZ's dividend yield for the trailing twelve months is around 0.95%, less than HSMV's 2.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF | 0.95% | 0.82% | 1.45% | 1.42% | 1.33% | 0.93% | 0.91% | 1.29% | 1.37% | 0.97% | 1.31% | 1.39% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 2.03% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PRFZ vs. HSMV - Drawdown Comparison
The maximum PRFZ drawdown since its inception was -62.41%, which is greater than HSMV's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for PRFZ and HSMV.
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Drawdown Indicators
| PRFZ | HSMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.41% | -19.16% | -43.25% |
Max Drawdown (1Y)Largest decline over 1 year | -13.87% | -10.57% | -3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | -19.16% | -7.42% |
Max Drawdown (10Y)Largest decline over 10 years | -44.28% | — | — |
Current DrawdownCurrent decline from peak | -7.55% | -5.59% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -5.71% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 2.89% | +0.78% |
Volatility
PRFZ vs. HSMV - Volatility Comparison
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 6.88% compared to First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) at 3.53%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than HSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFZ | HSMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 3.53% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 13.55% | 7.15% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.39% | 13.63% | +8.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.38% | 15.02% | +6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.44% | 16.19% | +6.25% |