PRFZ vs. VBR

Last updated Jun 9, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, PRFZ returned 11.40%/yr vs 10.50%/yr for VBR. With a 0.97 correlation, they move nearly in lockstep. PRFZ charges 0.39%/yr vs 0.05%/yr for VBR.

Performance

PRFZ vs. VBR - 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 Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PRFZ having a 11.74% return and VBR slightly lower at 11.45%. Over the past 10 years, PRFZ has outperformed VBR with an annualized return of 11.40%, while VBR has yielded a comparatively lower 10.50% annualized return.

PRFZ

• 1D: 0.67%
• 1M: -0.33%
• YTD: 11.74%
• 6M: 10.40%
• 1Y: 28.88%
• 3Y*: 16.18%
• 5Y*: 7.48%
• 10Y*: 11.40%

VBR

• 1D: 0.16%
• 1M: 0.48%
• YTD: 11.45%
• 6M: 12.14%
• 1Y: 24.85%
• 3Y*: 15.60%
• 5Y*: 7.78%
• 10Y*: 10.50%

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

PRFZ vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	11.74%	11.26%	12.68%	20.21%	-16.29%	28.26%	11.84%	21.91%	-11.43%	13.82%
VBR Vanguard Small-Cap Value ETF	11.45%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between PRFZ and VBR is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 21, 2006	0.97

The correlation between PRFZ and VBR has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

PRFZ vs. VBR - Sectors Allocation Comparison

Sectors	PRFZ	VBR
Technology	20.8%	10.6%
Industrials	16.7%	18.1%
Healthcare	16.4%	7.9%
Financial Services	13.3%	17.6%
Consumer Cyclical	10.4%	12.4%
Real Estate	6.7%	10.1%
Energy	5.4%	5.2%
Basic Materials	3.3%	6.3%
Communication Services	2.7%	2.5%
Consumer Defensive	2.5%	4.0%
Utilities	1.5%	4.8%

Return for Risk

PRFZ vs. VBR — Risk / Return Rank

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

PRFZ

PRFZ Risk / Return Rank: 55
PRFZ Sharpe Ratio Rank: 52
PRFZ Sortino Ratio Rank: 53
PRFZ Omega Ratio Rank: 48
PRFZ Calmar Ratio Rank: 62
PRFZ Martin Ratio Rank: 60

VBR

VBR Risk / Return Rank: 57
VBR Sharpe Ratio Rank: 53
VBR Sortino Ratio Rank: 56
VBR Omega Ratio Rank: 51
VBR Calmar Ratio Rank: 62
VBR Martin Ratio Rank: 61

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. VBR - 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 Vanguard Small-Cap Value ETF (VBR). 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	VBR	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.65	-0.05
Sortino ratio: Return per unit of downside risk	2.31	2.43	-0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.79	2.82	-0.02
Martin ratio: Return relative to average drawdown	9.60	9.94	-0.34
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. VBR - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.60, which is comparable to the VBR Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of PRFZ and VBR, 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	VBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	1.65	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.40	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.49	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.42	-0.01

Drawdowns

PRFZ vs. VBR - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, roughly equal to the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for PRFZ and VBR.

Drawdown Indicators

	PRFZ	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-62.41%	-61.98%	-0.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-8.85%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-26.54%	-24.19%	-2.35%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-24.19%	-2.39%
Max Drawdown (10Y) Largest decline over 10 years	-44.28%	-45.28%	+1.00%
Current Drawdown Current decline from peak	-2.27%	-0.95%	-1.32%
Average Drawdown Average peak-to-trough decline	-9.42%	-8.26%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.51%	+0.51%

Volatility

PRFZ vs. VBR - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 5.34% compared to Vanguard Small-Cap Value ETF (VBR) at 3.67%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFZ	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	3.67%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	10.49%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	15.16%	+3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	19.77%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.47%	21.74%	+0.73%

PRFZ vs. VBR - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

PRFZ vs. VBR - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.85%, less than VBR's 1.76% 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%
VBR Vanguard Small-Cap Value ETF	1.76%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both PRFZ and VBR in my portfolio?

With a correlation of 0.91, PRFZ and VBR 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 VBR?

PRFZ has higher volatility (5.34%) compared to VBR (3.67%). In terms of maximum drawdown, PRFZ dropped -62.41% vs VBR's -61.98%.

Which ETF is better, PRFZ or VBR?

On 10-year performance, PRFZ leads with 11.40% vs 10.50% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFZ or VBR?

Over the 10-year period, PRFZ has performed better with a 11.40% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFZ or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 0.39% for PRFZ.

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

VBR has the higher dividend yield at 1.76%, compared with 0.85% for PRFZ.

What is the main difference between PRFZ and VBR?

PRFZ is categorized as Small Cap Blend Equities, while VBR is Small Cap Value Equities. PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for PRFZ and 0.05% for VBR.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.65 vs 1.60), 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.