IVV vs PRFZ
iShares Core S&P 500 ETF vs Invesco RAFI US 1500 Small-Mid ETF
Quick Verdict
IVV has a lower expense ratio. PRFZ delivered stronger 1-year returns. PRFZ offers more diversification with 1314 holdings.
Side-by-Side Comparison
| Metric | IVV | PRFZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.34% | |
| AUM | $865.2B | $2.8B | |
| Dividend Yield | 1.09% | 0.77% | |
| Holdings | 508 | 1,554 | |
| YTD Return | +13.72% | +22.52% | |
| 1Y Return | +21.64% | +32.74% | |
| 3Y Return (annualized) | +21.55% | +18.20% | |
| 5Y Return (annualized) | +13.27% | +10.11% | |
| Volatility (annualized) | 15.1% | 21.3% | |
| Max Drawdown | -56.5% | -63.0% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Sep 20, 2006 |
IVV vs PRFZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco RAFI US 1500 Small-Mid ETF (PRFZ) is a ETF from Invesco (US). Over the past year IVV returned +21.64% while PRFZ returned +32.74%. Year to date, IVV is up 13.72% versus a gain of 22.52% for PRFZ.
Over three years, IVV compounded at +21.55% per year against +18.20% for PRFZ; over five years the annualized figures are +13.27% and +10.11% respectively. Across the full 20-year window we track, PRFZ has the edge at +9.39% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PRFZ has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -63.0% for PRFZ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PRFZ charges 0.34%. On a $10,000 position that is $3 vs $34 annually, a gap of $31 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.77% for PRFZ.
Holdings Overlap
IVV and PRFZ share 12 holdings out of 1807 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PRFZ?
IVV has an expense ratio of 0.03% while PRFZ charges 0.34%. IVV is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, IVV or PRFZ?
Over the past year IVV returned +21.64% vs +32.74% for PRFZ, so PRFZ leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.04% vs +9.39% for PRFZ. Past performance does not guarantee future results.
Which is riskier, IVV or PRFZ?
PRFZ has been the more volatile fund at 21.3% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PRFZ -63.0%.
Should I hold both IVV and PRFZ?
IVV and PRFZ have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PRFZ?
IVV and PRFZ share 12 common holdings with a 0.5% weight overlap. Combined, they hold 1807 unique securities.
Which pays a higher dividend, IVV or PRFZ?
IVV yields 1.09% while PRFZ yields 0.77%, so IVV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.