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PRFZ vs. VIOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PRFZ vs. VIOO

Last updated Jun 24, 2026

PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) and VIOO (Vanguard S&P Small-Cap 600 ETF) are both Small Cap Blend Equities funds - PRFZ tracks the FTSE RAFI US 1500 Small-Mid Index while VIOO tracks the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, PRFZ returned 12.16%/yr vs 11.31%/yr for VIOO. With a 0.95 correlation, they move nearly in lockstep. PRFZ charges 0.39%/yr vs 0.07%/yr for VIOO.

Performance

PRFZ vs. VIOO - 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 S&P Small-Cap 600 ETF (VIOO). 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 lower than VIOO's 19.31% return. Over the past 10 years, PRFZ has outperformed VIOO with an annualized return of 12.16%, while VIOO has yielded a comparatively lower 11.31% 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%

VIOO

1D
-0.35%
1M
4.23%
YTD
19.31%
6M
16.84%
1Y
34.71%
3Y*
16.19%
5Y*
6.28%
10Y*
11.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PRFZ vs. VIOO - 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%
VIOO
Vanguard S&P Small-Cap 600 ETF		19.31%6.04%8.48%16.16%-16.26%26.79%11.47%22.68%-8.65%13.16%

Correlation

The correlation between PRFZ and VIOO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.96

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

0.97

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

0.98

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

0.98

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.95

The correlation between PRFZ and VIOO has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

PRFZ vs. VIOO - Sectors Allocation Comparison

Sectors
PRFZ
VIOO

Technology

19.6%
15.5%

Healthcare

16.8%
11.0%

Industrials

16.6%
15.5%

Financial Services

13.2%
16.9%

Consumer Cyclical

10.8%
13.4%

Real Estate

7.2%
7.7%

Energy

5.0%
5.9%

Basic Materials

3.5%
5.1%

Communication Services

2.9%
3.6%

Consumer Defensive

2.8%
3.5%

Utilities

1.5%
2.0%

Technology

PRFZ
19.6%
VIOO
15.5%

Healthcare

PRFZ
16.8%
VIOO
11.0%

Industrials

PRFZ
16.6%
VIOO
15.5%

Financial Services

PRFZ
13.2%
VIOO
16.9%

Consumer Cyclical

PRFZ
10.8%
VIOO
13.4%

Real Estate

PRFZ
7.2%
VIOO
7.7%

Energy

PRFZ
5.0%
VIOO
5.9%

Basic Materials

PRFZ
3.5%
VIOO
5.1%

Communication Services

PRFZ
2.9%
VIOO
3.6%

Consumer Defensive

PRFZ
2.8%
VIOO
3.5%

Utilities

PRFZ
1.5%
VIOO
2.0%

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

Vanguard S&P Small-Cap 600 ETF

Often compared with PRFZ:
PRFZ vs. BSMIXPRFZ vs. FVPRFZ vs. FNDAPRFZ vs. PWBPRFZ vs. RWKPRFZ vs. VOOPRFZ vs. SCHA
Often compared with VIOO:
VIOO vs. VBVIOO vs. IJRVIOO vs. VOVIOO vs. AVUVVIOO vs. VIOVVIOO vs. VTWOVIOO vs. VIOG

Return for Risk

PRFZ vs. VIOO — 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
VIOO
VIOO Risk / Return Rank: 6767
Overall Rank
VIOO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
VIOO Sortino Ratio Rank: 6464
Sortino Ratio Rank
VIOO Omega Ratio Rank: 5757
Omega Ratio Rank
VIOO Calmar Ratio Rank: 7979
Calmar Ratio Rank
VIOO Martin Ratio Rank: 7474
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. VIOO - 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 S&P Small-Cap 600 ETF (VIOO). 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.

PRFZVIOODifference
Sharpe ratioReturn per unit of total volatility
1.88
1.97

-0.09

Sortino ratioReturn per unit of downside risk
2.68
2.85

-0.17

Omega ratioGain probability vs. loss probability

1.32

1.34

-0.02

Calmar ratioReturn relative to maximum drawdown

3.30

3.98

-0.68

Martin ratioReturn relative to average drawdown

11.37

13.43

-2.06

PRFZ vs. VIOO - Sharpe Ratio Comparison

The current PRFZ Sharpe Ratio is 1.88, which is comparable to the VIOO Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PRFZ and VIOO, 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. VIOO - Drawdown Comparison

The maximum PRFZ drawdown since its inception was -62.41%, which is greater than VIOO's maximum drawdown of -44.15%. Use the drawdown chart below to compare losses from any high point for PRFZ and VIOO.

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Drawdown Indicators

PRFZVIOODifference

Max Drawdown

Largest peak-to-trough decline

-62.41%

-44.15%

-18.26%

Max Drawdown (1Y)

Largest decline over 1 year

-10.38%

-8.77%

-1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-26.54%

-27.93%

+1.39%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-27.93%

+1.35%

Max Drawdown (10Y)

Largest decline over 10 years

-44.28%

-44.15%

-0.13%

Current Drawdown

Current decline from peak

-0.43%

-0.47%

+0.04%

Average Drawdown

Average peak-to-trough decline

-9.40%

-7.31%

-2.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.01%

2.59%

+0.42%

Volatility

PRFZ vs. VIOO - Volatility Comparison

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a higher volatility of 5.54% compared to Vanguard S&P Small-Cap 600 ETF (VIOO) at 4.97%. This indicates that PRFZ's price experiences larger fluctuations and is considered to be riskier than VIOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PRFZVIOODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.54%

4.97%

+0.57%

Volatility (6M)

Calculated over the trailing 6-month period

12.96%

12.11%

+0.85%

Volatility (1Y)

Calculated over the trailing 1-year period

18.30%

17.77%

+0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.35%

21.40%

-0.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.44%

22.98%

-0.54%

PRFZ vs. VIOO - Expense Ratio Comparison

PRFZ has a 0.39% expense ratio, which is higher than VIOO's 0.07% expense ratio.

Dividends

PRFZ vs. VIOO - Dividend Comparison

PRFZ's dividend yield for the trailing twelve months is around 0.81%, less than VIOO's 1.14% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VIOO
Vanguard S&P Small-Cap 600 ETF		1.14%1.36%1.48%1.47%1.51%1.16%1.09%1.37%1.32%1.11%1.06%1.26%

Frequently Asked Questions

With a correlation of 0.96, PRFZ and VIOO 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.

PRFZ has higher volatility (5.54%) compared to VIOO (4.97%). In terms of maximum drawdown, PRFZ dropped -62.41% vs VIOO's -44.15%.

On 10-year performance, PRFZ leads with 12.16% vs 11.31% for VIOO. On fees, VIOO is cheaper at 0.07% per year. On volatility, VIOO has been the lower-risk option at 4.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PRFZ has performed better with a 12.16% return vs 11.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VIOO is cheaper with a 0.07% expense ratio, compared with 0.39% for PRFZ.

VIOO has the higher dividend yield at 1.14%, compared with 0.81% for PRFZ.

PRFZ tracks FTSE RAFI US 1500 Small-Mid Index, while VIOO tracks S&P SmallCap 600 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for PRFZ and 0.07% for VIOO.

VIOO currently has the higher Sharpe Ratio (1.97 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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