PSRF.L vs. PXH

Last updated Jun 4, 2026

PSRF.L (Invesco FTSE RAFI US 1000 UCITS ETF) and PXH (Invesco FTSE RAFI Emerging Markets ETF) are both exchange-traded funds - PSRF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while PXH is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index. Both are passively managed. Over the past 10 years, PSRF.L returned 14.09%/yr vs 11.68%/yr for PXH. At a 0.32 correlation, their price movements are largely independent. PSRF.L charges 0.39%/yr vs 0.50%/yr for PXH.

Performance

PSRF.L vs. PXH - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE RAFI US 1000 UCITS ETF (PSRF.L) and Invesco FTSE RAFI Emerging Markets ETF (PXH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PSRF.L is traded in GBp, while PXH is traded in USD. To make them comparable, the PXH values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with PSRF.L having a 15.01% return and PXH slightly higher at 15.06%. Over the past 10 years, PSRF.L has outperformed PXH with an annualized return of 14.09%, while PXH has yielded a comparatively lower 11.68% annualized return.

PSRF.L

• 1D: 0.37%
• 1M: 5.05%
• YTD: 15.01%
• 6M: 15.37%
• 1Y: 33.26%
• 3Y*: 17.75%
• 5Y*: 13.10%
• 10Y*: 14.09%

PXH

• 1D: -1.37%
• 1M: 4.22%
• YTD: 15.06%
• 6M: 14.95%
• 1Y: 37.37%
• 3Y*: 19.00%
• 5Y*: 10.16%
• 10Y*: 11.68%

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

PSRF.L vs. PXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSRF.L Invesco FTSE RAFI US 1000 UCITS ETF	15.01%	8.58%	18.11%	9.53%	2.89%	32.90%	3.20%	22.49%	-4.27%	4.98%
PXH Invesco FTSE RAFI Emerging Markets ETF	15.06%	22.08%	14.05%	8.24%	-5.10%	9.34%	-4.79%	12.33%	-3.27%	15.65%

Correlation

The correlation between PSRF.L and PXH is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 12, 2007	0.32

The correlation between PSRF.L and PXH shifts across timeframes, from 0.27 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.

PSRF.L vs. PXH - Sectors Allocation Comparison

Sectors	PSRF.L	PXH
Technology	21.4%	19.9%
Financial Services	15.5%	25.8%
Healthcare	12.1%	0.9%
Communication Services	10.9%	6.2%
Energy	8.7%	13.0%
Consumer Cyclical	8.4%	10.7%
Industrials	8.1%	4.6%
Consumer Defensive	6.5%	2.8%
Basic Materials	3.4%	12.1%
Utilities	3.2%	2.4%
Real Estate	1.8%	1.7%

Return for Risk

PSRF.L vs. PXH — Risk / Return Rank

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

PSRF.L

PSRF.L Risk / Return Rank: 94
PSRF.L Sharpe Ratio Rank: 93
PSRF.L Sortino Ratio Rank: 94
PSRF.L Omega Ratio Rank: 93
PSRF.L Calmar Ratio Rank: 94
PSRF.L Martin Ratio Rank: 94

PXH

PXH Risk / Return Rank: 71
PXH Sharpe Ratio Rank: 72
PXH Sortino Ratio Rank: 69
PXH Omega Ratio Rank: 72
PXH Calmar Ratio Rank: 71
PXH Martin Ratio Rank: 71

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.

PSRF.L vs. PXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI US 1000 UCITS ETF (PSRF.L) and Invesco FTSE RAFI Emerging Markets ETF (PXH). 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.

	PSRF.L	PXH	Difference
Sharpe ratio: Return per unit of total volatility	3.54	2.77	+0.77
Sortino ratio: Return per unit of downside risk	4.81	3.68	+1.13
Omega ratio: Gain probability vs. loss probability	1.66	1.52	+0.14
Calmar ratio: Return relative to maximum drawdown	7.20	4.27	+2.94
Martin ratio: Return relative to average drawdown	26.49	15.71	+10.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSRF.L vs. PXH - Sharpe Ratio Comparison

The current PSRF.L Sharpe Ratio is 3.54, which is comparable to the PXH Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of PSRF.L and PXH, 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

	PSRF.L	PXH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.54	2.77	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	0.65	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.61	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.25	+0.57

Drawdowns

PSRF.L vs. PXH - Drawdown Comparison

The maximum PSRF.L drawdown since its inception was -38.37%, smaller than the maximum PXH drawdown of -51.12%. Use the drawdown chart below to compare losses from any high point for PSRF.L and PXH.

Drawdown Indicators

	PSRF.L	PXH	Difference
Max Drawdown Largest peak-to-trough decline	-38.37%	-51.12%	+12.75%
Max Drawdown (1Y) Largest decline over 1 year	-4.60%	-8.80%	+4.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.14%	-16.08%	-2.06%
Max Drawdown (5Y) Largest decline over 5 years	-18.14%	-17.02%	-1.12%
Max Drawdown (10Y) Largest decline over 10 years	-29.79%	-31.50%	+1.71%
Current Drawdown Current decline from peak	0.00%	-1.37%	+1.37%
Average Drawdown Average peak-to-trough decline	-4.15%	-11.41%	+7.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	2.38%	-1.13%

Volatility

PSRF.L vs. PXH - Volatility Comparison

The current volatility for Invesco FTSE RAFI US 1000 UCITS ETF (PSRF.L) is 2.14%, while Invesco FTSE RAFI Emerging Markets ETF (PXH) has a volatility of 4.59%. This indicates that PSRF.L experiences smaller price fluctuations and is considered to be less risky than PXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSRF.L	PXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	4.59%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	6.28%	10.57%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	9.41%	13.59%	-4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.32%	15.71%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	19.08%	-3.29%

PSRF.L vs. PXH - Expense Ratio Comparison

PSRF.L has a 0.39% expense ratio, which is lower than PXH's 0.50% expense ratio.

Dividends

PSRF.L vs. PXH - Dividend Comparison

PSRF.L's dividend yield for the trailing twelve months is around 1.20%, less than PXH's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSRF.L Invesco FTSE RAFI US 1000 UCITS ETF	1.20%	1.37%	1.46%	1.59%	1.70%	1.29%	1.78%	1.67%	1.78%	1.60%	1.51%	1.64%
PXH Invesco FTSE RAFI Emerging Markets ETF	3.43%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%

Frequently Asked Questions

Can I hold both PSRF.L and PXH in my portfolio?

PSRF.L and PXH have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSRF.L or PXH?

On fees, PSRF.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSRF.L or PXH?

PSRF.L is cheaper with a 0.39% expense ratio, compared with 0.50% for PXH.

What is the main difference between PSRF.L and PXH?

PSRF.L is categorized as Large Cap Value Equities, while PXH is Emerging Markets Equities. PSRF.L tracks Russell 1000 Value TR USD, while PXH tracks FTSE RAFI Emerging Markets Index. Their fees differ too: 0.39% for PSRF.L and 0.50% for PXH.