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PRFZ vs. PRF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PRFZ vs. PRF

Last updated Jun 24, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and PRF (Invesco RAFI US 1000 ETF) are both exchange-traded funds - PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index, while PRF is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 10 years, PRFZ returned 12.16%/yr vs 13.99%/yr for PRF. Their correlation of 0.89 suggests significant overlap in exposure. PRFZ charges 0.39%/yr vs 0.34%/yr for PRF.

Performance

PRFZ vs. PRF - 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 Invesco RAFI US 1000 ETF (PRF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PRFZ achieves a 16.06% return, which is significantly higher than PRF's 14.83% return. Over the past 10 years, PRFZ has underperformed PRF with an annualized return of 12.16%, while PRF has yielded a comparatively higher 13.99% annualized 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%

PRF

1D
-0.54%
1M
0.85%
YTD
14.83%
6M
14.24%
1Y
31.19%
3Y*
20.98%
5Y*
12.86%
10Y*
13.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PRFZ vs. PRF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PRFZ
Invesco FTSE RAFI US 1500 Small-Mid ETF		16.06%11.26%12.68%20.21%-16.29%28.26%11.84%21.91%-11.43%13.82%
PRF
Invesco RAFI US 1000 ETF		14.83%18.33%16.73%15.72%-7.79%31.12%7.78%27.42%-8.71%16.01%

Correlation

The correlation between PRFZ and PRF is 0.87, 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

0.87

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.89

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

0.89

Correlation (All Time)
Calculated using the full available price history since Sep 20, 2006

0.89

The correlation between PRFZ and PRF has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

PRFZ vs. PRF - Sectors Allocation Comparison

Sectors
PRFZ
PRF

Technology

19.6%
24.4%

Healthcare

16.8%
11.6%

Industrials

16.6%
9.0%

Financial Services

13.2%
15.6%

Consumer Cyclical

10.8%
8.7%

Real Estate

7.2%
2.3%

Energy

5.0%
7.2%

Basic Materials

3.5%
3.3%

Communication Services

2.9%
9.1%

Consumer Defensive

2.8%
5.9%

Utilities

1.5%
3.0%

Technology

PRFZ
19.6%
PRF
24.4%

Healthcare

PRFZ
16.8%
PRF
11.6%

Industrials

PRFZ
16.6%
PRF
9.0%

Financial Services

PRFZ
13.2%
PRF
15.6%

Consumer Cyclical

PRFZ
10.8%
PRF
8.7%

Real Estate

PRFZ
7.2%
PRF
2.3%

Energy

PRFZ
5.0%
PRF
7.2%

Basic Materials

PRFZ
3.5%
PRF
3.3%

Communication Services

PRFZ
2.9%
PRF
9.1%

Consumer Defensive

PRFZ
2.8%
PRF
5.9%

Utilities

PRFZ
1.5%
PRF
3.0%

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Invesco FTSE RAFI US 1500 Small-Mid ETF

Invesco RAFI US 1000 ETF

Often compared with PRFZ:
PRFZ vs. BSMIXPRFZ vs. FVPRFZ vs. FNDAPRFZ vs. PWBPRFZ vs. RWKPRFZ vs. VOOPRFZ vs. SCHA
Often compared with PRF:
PRF vs. SPYPRF vs. VOOPRF vs. RSPPRF vs. PFMPRF vs. VTVPRF vs. SCHDPRF vs. PXF

Return for Risk

PRFZ vs. PRF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PRFZ
PRFZ Risk / Return Rank: 6262
Overall Rank
PRFZ Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
PRFZ Sortino Ratio Rank: 6161
Sortino Ratio Rank
PRFZ Omega Ratio Rank: 5454
Omega Ratio Rank
PRFZ Calmar Ratio Rank: 7070
Calmar Ratio Rank
PRFZ Martin Ratio Rank: 6666
Martin Ratio Rank
PRF
PRF Risk / Return Rank: 8989
Overall Rank
PRF Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
PRF Sortino Ratio Rank: 9090
Sortino Ratio Rank
PRF Omega Ratio Rank: 8888
Omega Ratio Rank
PRF Calmar Ratio Rank: 8787
Calmar Ratio Rank
PRF Martin Ratio Rank: 9090
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.

PRFZ vs. PRF - 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 Invesco RAFI US 1000 ETF (PRF). 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.

PRFZPRFDifference
Sharpe ratioReturn per unit of total volatility
1.88
2.86

-0.98

Sortino ratioReturn per unit of downside risk
2.68
3.94

-1.27

Omega ratioGain probability vs. loss probability

1.32

1.52

-0.20

Calmar ratioReturn relative to maximum drawdown

3.30

4.75

-1.45

Martin ratioReturn relative to average drawdown

11.37

19.37

-8.00

PRFZ vs. PRF - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.88, which is lower than the PRF Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of PRFZ and PRF, 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

PRFZ vs. PRF - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, roughly equal to the maximum PRF drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for PRFZ and PRF.

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Drawdown Indicators

PRFZPRFDifference

Max Drawdown

Largest peak-to-trough decline

-62.41%

-60.35%

-2.06%

Max Drawdown (1Y)

Largest decline over 1 year

-10.38%

-6.59%

-3.79%

Max Drawdown (3Y)

Largest decline over 3 years

-26.54%

-15.82%

-10.72%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-19.72%

-6.86%

Max Drawdown (10Y)

Largest decline over 10 years

-44.28%

-38.16%

-6.12%

Current Drawdown

Current decline from peak

-0.43%

-1.39%

+0.96%

Average Drawdown

Average peak-to-trough decline

-9.40%

-6.91%

-2.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.01%

1.61%

+1.40%

Volatility

PRFZ vs. PRF - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 5.54% compared to Invesco RAFI US 1000 ETF (PRF) at 3.70%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than PRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PRFZPRFDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.54%

3.70%

+1.84%

Volatility (6M)

Calculated over the trailing 6-month period

12.96%

8.24%

+4.72%

Volatility (1Y)

Calculated over the trailing 1-year period

18.30%

10.99%

+7.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.35%

15.20%

+6.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.44%

17.65%

+4.79%

PRFZ vs. PRF - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than PRF's 0.34% expense ratio.

Dividends

PRFZ vs. PRF - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.81%, less than PRF's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
PRF
Invesco RAFI US 1000 ETF		1.39%1.59%1.78%1.84%2.01%1.58%1.97%1.99%2.25%1.58%2.17%2.25%
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

PRFZ and PRF have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PRFZ has higher volatility (5.54%) compared to PRF (3.70%). In terms of maximum drawdown, PRFZ dropped -62.41% vs PRF's -60.35%.

On 10-year performance, PRF leads with 13.99% vs 12.16% for PRFZ. On fees, PRF is cheaper at 0.34% per year. On volatility, PRF has been the lower-risk option at 3.70%. 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 13.99% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PRF is cheaper with a 0.34% expense ratio, compared with 0.39% for PRFZ.

PRF has the higher dividend yield at 1.39%, compared with 0.81% for PRFZ.

PRFZ is categorized as Small Cap Blend Equities, while PRF is Large Cap Value Equities. PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while PRF tracks RAFI Fundamental Select US 1000 Index. Their fees differ too: 0.39% for PRFZ and 0.34% for PRF.

PRF currently has the higher Sharpe Ratio (2.86 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.

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