SCHH vs. PRFZ

Last updated Jun 13, 2026

SCHH (Schwab US REIT ETF) and PRFZ (Invesco FTSE RAFI US 1500 Small-Mid ETF) are both exchange-traded funds - SCHH is a REIT fund tracking the Dow Jones Equity All REIT Capped Index, while PRFZ is a Small Cap Blend Equities fund tracking the FTSE RAFI US 1500 Small-Mid Index. Both are passively managed. Over the past 10 years, SCHH returned 4.51%/yr vs 11.95%/yr for PRFZ. A 0.59 correlation means they provide meaningful diversification when combined. SCHH charges 0.07%/yr vs 0.39%/yr for PRFZ.

Performance

SCHH vs. PRFZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US REIT ETF (SCHH) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ). 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 SCHH having a 16.33% return and PRFZ slightly lower at 15.55%. Over the past 10 years, SCHH has underperformed PRFZ with an annualized return of 4.51%, while PRFZ has yielded a comparatively higher 11.95% annualized return.

SCHH

• 1D: 1.00%
• 1M: 3.20%
• YTD: 16.33%
• 6M: 16.33%
• 1Y: 15.97%
• 3Y*: 11.02%
• 5Y*: 3.40%
• 10Y*: 4.51%

PRFZ

• 1D: 0.87%
• 1M: 4.92%
• YTD: 15.55%
• 6M: 12.59%
• 1Y: 33.05%
• 3Y*: 16.84%
• 5Y*: 8.16%
• 10Y*: 11.95%

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

SCHH vs. PRFZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHH Schwab US REIT ETF	16.33%	2.20%	4.99%	11.18%	-24.99%	41.07%	-14.81%	22.85%	-4.26%	3.68%
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	15.55%	11.26%	12.68%	20.21%	-16.29%	28.26%	11.84%	21.91%	-11.43%	13.82%

Correlation

The correlation between SCHH and PRFZ is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011	0.59

The correlation between SCHH and PRFZ shifts across timeframes, from 0.47 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

SCHH vs. PRFZ - Sectors Allocation Comparison

Sectors	SCHH	PRFZ
Real Estate	98.5%	6.7%
Basic Materials	1.3%	3.3%
Financial Services	0.2%	13.3%
Communication Services	-	2.7%
Consumer Cyclical	-	10.4%
Consumer Defensive	-	2.5%
Energy	-	5.4%
Healthcare	-	16.4%
Industrials	-	16.7%
Technology	-	20.8%
Utilities	-	1.5%

Return for Risk

SCHH vs. PRFZ — Risk / Return Rank

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

SCHH

SCHH Risk / Return Rank: 39
SCHH Sharpe Ratio Rank: 38
SCHH Sortino Ratio Rank: 36
SCHH Omega Ratio Rank: 36
SCHH Calmar Ratio Rank: 44
SCHH Martin Ratio Rank: 43

PRFZ

PRFZ Risk / Return Rank: 65
PRFZ Sharpe Ratio Rank: 62
PRFZ Sortino Ratio Rank: 63
PRFZ Omega Ratio Rank: 57
PRFZ Calmar Ratio Rank: 72
PRFZ Martin Ratio Rank: 68

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.

SCHH vs. PRFZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US REIT ETF (SCHH) and Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ). 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.

	SCHH	PRFZ	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.81	-0.63
Sortino ratio: Return per unit of downside risk	1.68	2.58	-0.91
Omega ratio: Gain probability vs. loss probability	1.21	1.31	-0.09
Calmar ratio: Return relative to maximum drawdown	1.94	3.20	-1.26
Martin ratio: Return relative to average drawdown	6.10	11.02	-4.92

SCHH vs. PRFZ - Sharpe Ratio Comparison

The current SCHH Sharpe Ratio is 1.18, which is lower than the PRFZ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SCHH and PRFZ, 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

SCHH vs. PRFZ - Drawdown Comparison

The maximum SCHH drawdown since its inception was -44.22%, smaller than the maximum PRFZ drawdown of -62.41%. Use the drawdown chart below to compare losses from any high point for SCHH and PRFZ.

Drawdown Indicators

	SCHH	PRFZ	Difference
Max Drawdown Largest peak-to-trough decline	-44.22%	-62.41%	+18.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.28%	-10.38%	+2.10%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-26.54%	+8.78%
Max Drawdown (5Y) Largest decline over 5 years	-33.28%	-26.58%	-6.70%
Max Drawdown (10Y) Largest decline over 10 years	-44.22%	-44.28%	+0.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.43%	-9.41%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	3.01%	-0.38%

Volatility

SCHH vs. PRFZ - Volatility Comparison

The current volatility for Schwab US REIT ETF (SCHH) is 4.83%, while Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ) has a volatility of 5.92%. This indicates that SCHH experiences smaller price fluctuations and is considered to be less risky than PRFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHH	PRFZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	5.92%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	12.93%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	18.33%	-4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.74%	21.38%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	22.46%	-1.47%

SCHH vs. PRFZ - Expense Ratio Comparison

SCHH has a 0.07% expense ratio, which is lower than PRFZ's 0.39% expense ratio.

Dividends

SCHH vs. PRFZ - Dividend Comparison

SCHH's dividend yield for the trailing twelve months is around 2.69%, more than PRFZ's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF	0.82%	0.82%	1.45%	1.42%	1.33%	0.93%	0.91%	1.29%	1.37%	0.97%	1.31%	1.39%
SCHH Schwab US REIT ETF	2.69%	3.04%	3.22%	3.24%	2.55%	1.50%	2.86%	2.86%	3.64%	2.22%	2.81%	2.48%

Frequently Asked Questions

Can I hold both SCHH and PRFZ in my portfolio?

SCHH and PRFZ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHH or PRFZ?

PRFZ has higher volatility (5.92%) compared to SCHH (4.83%). In terms of maximum drawdown, SCHH dropped -44.22% vs PRFZ's -62.41%.

Which ETF is better, SCHH or PRFZ?

On 10-year performance, PRFZ leads with 11.95% vs 4.51% for SCHH. On fees, SCHH is cheaper at 0.07% per year. On volatility, SCHH has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHH or PRFZ?

Over the 10-year period, PRFZ has performed better with a 11.95% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHH or PRFZ?

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

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

SCHH has the higher dividend yield at 2.69%, compared with 0.82% for PRFZ.

What is the main difference between SCHH and PRFZ?

SCHH is categorized as REIT, while PRFZ is Small Cap Blend Equities. SCHH tracks Dow Jones Equity All REIT Capped Index, while PRFZ tracks FTSE RAFI US 1500 Small-Mid Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.07% for SCHH and 0.39% for PRFZ.

Which has better risk-adjusted returns?

PRFZ currently has the higher Sharpe Ratio (1.81 vs 1.18), 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.