PRFZ vs. SCHG

Last updated Jun 23, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both exchange-traded funds - PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, PRFZ returned 12.21%/yr vs 18.81%/yr for SCHG. A 0.76 correlation means they provide meaningful diversification when combined. PRFZ charges 0.39%/yr vs 0.04%/yr for SCHG.

Performance

PRFZ vs. SCHG - 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 Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFZ achieves a 16.56% return, which is significantly higher than SCHG's 2.76% return. Over the past 10 years, PRFZ has underperformed SCHG with an annualized return of 12.21%, while SCHG has yielded a comparatively higher 18.81% annualized return.

PRFZ

• 1D: 0.11%
• 1M: 4.27%
• YTD: 16.56%
• 6M: 13.40%
• 1Y: 36.25%
• 3Y*: 18.70%
• 5Y*: 8.61%
• 10Y*: 12.21%

SCHG

• 1D: -1.24%
• 1M: -2.59%
• YTD: 2.76%
• 6M: 2.11%
• 1Y: 20.89%
• 3Y*: 22.70%
• 5Y*: 13.68%
• 10Y*: 18.81%

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

PRFZ vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	16.56%	11.26%	12.68%	20.21%	-16.29%	28.26%	11.84%	21.91%	-11.43%	13.82%
SCHG Schwab U.S. Large-Cap Growth ETF	2.76%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between PRFZ and SCHG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.76

The correlation between PRFZ and SCHG shifts across timeframes, from 0.63 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

PRFZ vs. SCHG - Sectors Allocation Comparison

Sectors	PRFZ	SCHG
Technology	19.6%	46.7%
Healthcare	16.8%	8.4%
Industrials	16.6%	6.0%
Financial Services	13.2%	6.6%
Consumer Cyclical	10.8%	12.4%
Real Estate	7.2%	0.5%
Energy	5.0%	0.7%
Basic Materials	3.5%	1.3%
Communication Services	2.9%	15.3%
Consumer Defensive	2.8%	1.6%
Utilities	1.5%	0.4%

Return for Risk

PRFZ vs. SCHG — Risk / Return Rank

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

PRFZ

PRFZ Risk / Return Rank: 64
PRFZ Sharpe Ratio Rank: 62
PRFZ Sortino Ratio Rank: 63
PRFZ Omega Ratio Rank: 55
PRFZ Calmar Ratio Rank: 71
PRFZ Martin Ratio Rank: 68

SCHG

SCHG Risk / Return Rank: 33
SCHG Sharpe Ratio Rank: 37
SCHG Sortino Ratio Rank: 35
SCHG Omega Ratio Rank: 35
SCHG Calmar Ratio Rank: 27
SCHG Martin Ratio Rank: 30

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. SCHG - 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 Schwab U.S. Large-Cap Growth ETF (SCHG). 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	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.30	+0.69
Sortino ratio: Return per unit of downside risk	2.82	1.79	+1.02
Omega ratio: Gain probability vs. loss probability	1.33	1.23	+0.10
Calmar ratio: Return relative to maximum drawdown	3.51	1.28	+2.23
Martin ratio: Return relative to average drawdown	12.08	4.19	+7.90

PRFZ vs. SCHG - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.99, which is higher than the SCHG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of PRFZ and SCHG, 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. SCHG - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for PRFZ and SCHG.

Drawdown Indicators

	PRFZ	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-34.59%	-27.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-16.41%	+6.03%
Max Drawdown (3Y) Largest decline over 3 years	-26.54%	-23.39%	-3.15%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-34.59%	+8.01%
Max Drawdown (10Y) Largest decline over 10 years	-44.28%	-34.59%	-9.69%
Current Drawdown Current decline from peak	0.00%	-5.16%	+5.16%
Average Drawdown Average peak-to-trough decline	-9.40%	-5.20%	-4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	5.00%	-1.99%

Volatility

PRFZ vs. SCHG - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) and Schwab U.S. Large-Cap Growth ETF (SCHG) have volatilities of 5.52% and 5.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFZ	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	5.78%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	12.96%	12.50%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	18.32%	16.21%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	22.37%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.48%	21.61%	+0.87%

PRFZ vs. SCHG - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

PRFZ vs. SCHG - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 1.01%, more than SCHG's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	1.01%	0.82%	1.45%	1.42%	1.33%	0.93%	0.91%	1.29%	1.37%	0.97%	1.31%	1.39%
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both PRFZ and SCHG in my portfolio?

PRFZ and SCHG have a correlation of 0.65, 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 SCHG?

SCHG has higher volatility (5.78%) compared to PRFZ (5.52%). In terms of maximum drawdown, PRFZ dropped -62.41% vs SCHG's -34.59%.

Which ETF is better, PRFZ or SCHG?

On 10-year performance, SCHG leads with 18.81% vs 12.21% for PRFZ. On fees, SCHG is cheaper at 0.04% per year. On volatility, PRFZ has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFZ or SCHG?

Over the 10-year period, SCHG has performed better with a 18.81% return vs 12.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFZ or SCHG?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.39% for PRFZ.

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

PRFZ has the higher dividend yield at 1.01%, compared with 0.38% for SCHG.

What is the main difference between PRFZ and SCHG?

PRFZ is categorized as Small Cap Blend Equities, while SCHG is Large Cap Growth Equities. PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.39% for PRFZ and 0.04% for SCHG.

Which has better risk-adjusted returns?

PRFZ currently has the higher Sharpe Ratio (1.99 vs 1.30), 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.