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PRFZ vs. SMMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PRFZ vs. SMMV

Last updated Aug 2, 2026
Documentation

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds - PRFZ tracks the FTSE RAFI US 1500 Small-Mid Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, PRFZ returned 9.40%/yr vs 6.29%/yr for SMMV. Their correlation of 0.83 means they have usually moved in the same direction. PRFZ charges 0.39%/yr vs 0.20%/yr for SMMV.

Performance

PRFZ vs. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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 17.59% return, which is significantly higher than SMMV's 9.33% return.

PRFZ

1D
-0.23%
1M
-2.45%
6M
13.03%
YTD
17.59%
1Y
33.30%
3Y*
14.83%
5Y*
9.40%
10Y*
11.68%
ALL TIME*
10.03%

SMMV

1D
-0.06%
1M
0.56%
6M
7.36%
YTD
9.33%
1Y
16.10%
3Y*
12.24%
5Y*
6.29%
10Y*
—
ALL TIME*
8.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PRFZ

Invesco FTSE RAFI US 1500 Small-Mid ETF
$4.67M$5.60M$8.64M

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF
$337.38K$347.17K$431.55K

PRFZ vs. SMMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PRFZ
Invesco FTSE RAFI US 1500 Small-Mid ETF		17.59%11.26%12.68%20.21%-16.29%28.26%11.84%21.91%-11.43%13.82%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		9.33%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%

Correlation

The correlation between PRFZ and SMMV is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.66

Correlation (3Y)
Balances recent behavior with more history.

0.81

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.85

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2016

0.83

The correlation between PRFZ and SMMV shifts across timeframes, from 0.66 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

PRFZ vs. SMMV - Sectors Allocation Comparison

Sectors
PRFZ
SMMV

Technology

19.5%
13.7%

Healthcare

17.8%
18.7%

Industrials

16.1%
13.6%

Financial Services

13.6%
9.2%

Consumer Cyclical

11.2%
5.3%

Real Estate

6.9%
12.5%

Energy

4.4%
5.2%

Basic Materials

3.2%
1.6%

Consumer Defensive

3.0%
7.6%

Communication Services

2.9%
5.1%

Utilities

1.3%
7.5%

Technology

PRFZ
19.5%
SMMV
13.7%

Healthcare

PRFZ
17.8%
SMMV
18.7%

Industrials

PRFZ
16.1%
SMMV
13.6%

Financial Services

PRFZ
13.6%
SMMV
9.2%

Consumer Cyclical

PRFZ
11.2%
SMMV
5.3%

Real Estate

PRFZ
6.9%
SMMV
12.5%

Energy

PRFZ
4.4%
SMMV
5.2%

Basic Materials

PRFZ
3.2%
SMMV
1.6%

Consumer Defensive

PRFZ
3.0%
SMMV
7.6%

Communication Services

PRFZ
2.9%
SMMV
5.1%

Utilities

PRFZ
1.3%
SMMV
7.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco FTSE RAFI US 1500 Small-Mid ETF

iShares MSCI USA Small-Cap Min Vol Factor ETF

Often compared with PRFZ:
PRFZ vs. BSMIXPRFZ vs. FNDAPRFZ vs. PWBPRFZ vs. FVPRFZ vs. RWKPRFZ vs. VOOPRFZ vs. SCHA
Often compared with SMMV:
SMMV vs. SMLFSMMV vs. SMLVSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. VBSMMV vs. IWMSMMV vs. IVV

Return for Risk

PRFZ vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PRFZ
PRFZ Risk / Return Rank: 7777
Overall Rank
PRFZ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
PRFZ Sortino Ratio Rank: 7777
Sortino Ratio Rank
PRFZ Omega Ratio Rank: 7070
Omega Ratio Rank
PRFZ Calmar Ratio Rank: 8181
Calmar Ratio Rank
PRFZ Martin Ratio Rank: 7979
Martin Ratio Rank
SMMV
SMMV Risk / Return Rank: 6666
Overall Rank
SMMV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 7575
Sortino Ratio Rank
SMMV Omega Ratio Rank: 6868
Omega Ratio Rank
SMMV Calmar Ratio Rank: 6363
Calmar Ratio Rank
SMMV Martin Ratio Rank: 5656
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PRFZ vs. SMMV - 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 iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

PRFZSMMVDifference
Sharpe ratioReturn per unit of total volatility
1.71
1.58

+0.13

Sortino ratioReturn per unit of downside risk
2.49
2.42

+0.07

Omega ratioGain probability vs. loss probability

1.29

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

2.97

2.19

+0.78

Martin ratioReturn relative to average drawdown

10.08

6.75

+3.33

PRFZ vs. SMMV - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.71, which is comparable to the SMMV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of PRFZ and SMMV, 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. SMMV - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for PRFZ and SMMV.

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Drawdown Indicators

PRFZSMMVDifference

Max Drawdown

Largest peak-to-trough decline

-62.41%

-38.77%

-23.64%

Max Drawdown (1Y)

Largest decline over 1 year

-10.38%

-7.02%

-3.36%

Max Drawdown (3Y)

Largest decline over 3 years

-26.54%

-13.68%

-12.86%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-18.00%

-8.58%

Max Drawdown (10Y)

Largest decline over 10 years

-44.28%

—

—

Current Drawdown

Current decline from peak

-3.64%

-1.07%

-2.57%

Average Drawdown

Average peak-to-trough decline

-9.36%

-5.04%

-4.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.06%

2.28%

+0.78%

Volatility

PRFZ vs. SMMV - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 3.77% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PRFZSMMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.77%

2.85%

+0.92%

Volatility (6M)

Calculated over the trailing 6-month period

12.86%

6.98%

+5.88%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

9.75%

+8.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.23%

13.44%

+7.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

15.62%

+6.76%

PRFZ vs. SMMV - Expense Ratio Comparison

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

Dividends

PRFZ vs. SMMV - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.80%, less than SMMV's 1.66% yield.

PositionTTM20252024202320222021202020192018201720162015
PRFZ
Invesco FTSE RAFI US 1500 Small-Mid ETF		0.80%0.82%1.45%1.42%1.33%0.93%0.91%1.29%1.37%0.97%1.31%1.39%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.66%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%

Frequently Asked Questions

PRFZ and SMMV have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PRFZ has higher volatility (3.77%) compared to SMMV (2.85%). In terms of maximum drawdown, PRFZ dropped -62.41% vs SMMV's -38.77%.

On 5-year performance, PRFZ leads with 9.40% vs 6.29% for SMMV. On fees, SMMV is cheaper at 0.20% per year. On volatility, SMMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, PRFZ has performed better with a 9.40% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SMMV has the higher dividend yield at 1.66%, compared with 0.80% for PRFZ.

PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for PRFZ and 0.20% for SMMV.

PRFZ currently has the higher Sharpe Ratio (1.71 vs 1.58), 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.

Portfolio Optimizer

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