PRFZ vs. QQQS

Last updated Jun 4, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and QQQS (Invesco NASDAQ Future Gen 200 ETF) are both Small Cap Blend Equities funds from Invesco - PRFZ tracks the FTSE RAFI US 1500 Small-Mid Index while QQQS tracks the Nasdaq Innovators Completion Cap Total Return Index. Both are passively managed. Over the past 3 years, PRFZ returned 17.38%/yr vs 15.89%/yr for QQQS. Their correlation of 0.88 suggests significant overlap in exposure. PRFZ charges 0.39%/yr vs 0.20%/yr for QQQS.

Performance

PRFZ vs. QQQS - 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 NASDAQ Future Gen 200 ETF (QQQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFZ achieves a 12.74% return, which is significantly lower than QQQS's 27.27% return.

PRFZ

• 1D: -1.32%
• 1M: 2.22%
• YTD: 12.74%
• 6M: 11.50%
• 1Y: 31.75%
• 3Y*: 17.38%
• 5Y*: 7.93%
• 10Y*: 11.50%

QQQS

• 1D: -1.70%
• 1M: 5.91%
• YTD: 27.27%
• 6M: 27.40%
• 1Y: 79.99%
• 3Y*: 15.89%
• 5Y*: —
• 10Y*: —

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

PRFZ vs. QQQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	12.74%	11.26%	12.68%	20.21%	4.49%
QQQS Invesco NASDAQ Future Gen 200 ETF	27.27%	23.03%	10.20%	-1.94%	6.56%

Correlation

The correlation between PRFZ and QQQS 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 (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 14, 2022	0.88

The correlation between PRFZ and QQQS has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

PRFZ vs. QQQS - Sectors Allocation Comparison

Sectors	PRFZ	QQQS
Technology	20.4%	42.1%
Industrials	16.5%	4.8%
Healthcare	16.2%	41.0%
Financial Services	13.5%	0.0%
Consumer Cyclical	10.2%	5.2%
Real Estate	6.8%	-
Energy	5.7%	2.2%
Basic Materials	3.3%	1.0%
Communication Services	2.6%	2.4%
Consumer Defensive	2.5%	1.4%
Utilities	1.5%	-

Return for Risk

PRFZ vs. QQQS — Risk / Return Rank

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

PRFZ

PRFZ Risk / Return Rank: 54
PRFZ Sharpe Ratio Rank: 51
PRFZ Sortino Ratio Rank: 53
PRFZ Omega Ratio Rank: 47
PRFZ Calmar Ratio Rank: 61
PRFZ Martin Ratio Rank: 59

QQQS

QQQS Risk / Return Rank: 85
QQQS Sharpe Ratio Rank: 88
QQQS Sortino Ratio Rank: 83
QQQS Omega Ratio Rank: 73
QQQS Calmar Ratio Rank: 91
QQQS Martin Ratio Rank: 88

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. QQQS - 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 NASDAQ Future Gen 200 ETF (QQQS). 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	QQQS	Difference
Sharpe ratio: Return per unit of total volatility	1.79	3.00	-1.22
Sortino ratio: Return per unit of downside risk	2.58	3.78	-1.21
Omega ratio: Gain probability vs. loss probability	1.30	1.44	-0.14
Calmar ratio: Return relative to maximum drawdown	3.07	5.90	-2.83
Martin ratio: Return relative to average drawdown	10.58	19.70	-9.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRFZ vs. QQQS - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.79, which is lower than the QQQS Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of PRFZ and QQQS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRFZ	QQQS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	3.00	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.63	-0.22

Drawdowns

PRFZ vs. QQQS - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than QQQS's maximum drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for PRFZ and QQQS.

Drawdown Indicators

	PRFZ	QQQS	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-38.06%	-24.35%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-13.63%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-26.54%	-34.32%	+7.78%
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	-1.32%	-2.55%	+1.23%
Average Drawdown Average peak-to-trough decline	-9.42%	-13.26%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	4.07%	-1.06%

Volatility

PRFZ vs. QQQS - Volatility Comparison

The current volatility for Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) is 4.51%, while Invesco NASDAQ Future Gen 200 ETF (QQQS) has a volatility of 7.39%. This indicates that PRFZ experiences smaller price fluctuations and is considered to be less risky than QQQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFZ	QQQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	7.39%	-2.88%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	18.49%	-6.17%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	26.90%	-9.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.31%	28.34%	-7.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	28.34%	-5.90%

PRFZ vs. QQQS - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than QQQS's 0.20% expense ratio.

Dividends

PRFZ vs. QQQS - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.85%, less than QQQS's 2.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	0.85%	0.82%	1.45%	1.42%	1.33%	0.93%	0.91%	1.29%	1.37%	0.97%	1.31%	1.39%
QQQS Invesco NASDAQ Future Gen 200 ETF	2.73%	3.48%	0.80%	0.68%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRFZ and QQQS in my portfolio?

With a correlation of 0.90, PRFZ and QQQS 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 QQQS?

QQQS has higher volatility (7.39%) compared to PRFZ (4.51%). In terms of maximum drawdown, PRFZ dropped -62.41% vs QQQS's -38.06%.

Which ETF is better, PRFZ or QQQS?

On 3-year performance, PRFZ leads with 17.38% vs 15.89% for QQQS. On fees, QQQS is cheaper at 0.20% per year. On volatility, PRFZ has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFZ or QQQS?

Over the 3-year period, PRFZ has performed better with a 17.38% return vs 15.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFZ or QQQS?

QQQS is cheaper with a 0.20% expense ratio, compared with 0.39% for PRFZ.

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

QQQS has the higher dividend yield at 2.73%, compared with 0.85% for PRFZ.

What is the main difference between PRFZ and QQQS?

PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while QQQS tracks Nasdaq Innovators Completion Cap Total Return Index. Their fees differ too: 0.39% for PRFZ and 0.20% for QQQS.

Which has better risk-adjusted returns?

QQQS currently has the higher Sharpe Ratio (3.00 vs 1.79), 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.