IVV vs PRFZ
iShares Core S&P 500 ETF vs Invesco RAFI US 1500 Small-Mid ETF
Which is better, IVV or PRFZ?
Large Cap Blend against Small Cap Blend.
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window, PRFZ over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | PRFZ |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.34% |
| AUM | $876.4B | $2.8B |
| Dividend Yield | 1.06% | 0.80% |
| Holdings | 508 | 1,522 |
| YTD Return | +11.57% | +15.82%Best |
| 1Y Return | +17.57% | +19.95%Best |
| 3Y Return (annualized) | +20.71%Best | +17.32% |
| 5Y Return (annualized) | +12.80%Best | +9.20% |
| Volatility (annualized) | 15.3%Best | 21.3% |
| Max Drawdown | -56.5%Best | -63.0% |
| $10,000 over 5 years | $18,262Best | $15,528 |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | May 15, 2000 | Sep 20, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 20, 2006 to Sep 10, 2026 (20 years).
IVV vs PRFZ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20 years both funds cover.
IVV vs PRFZ Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco RAFI US 1500 Small-Mid ETF (PRFZ) is an ETF from Invesco (US). Over the past year IVV returned +17.57% while PRFZ returned +19.95%. Year to date, IVV is up 11.57% versus a gain of 15.82% for PRFZ.
Over three years, IVV compounded at +20.71% per year against +17.32% for PRFZ; over five years the annualized figures are +12.80% and +9.20% respectively. Across the full 20-year window we track, IVV has the edge at +9.54% annualized vs +9.04%.
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 15.3% 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 what each fund did in the worst stretch of the window measured above.
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 1.06% against 0.80% for PRFZ.
Holdings Overlap
At least 0.5% of IVV's money is in holdings PRFZ also owns.
Stated as a floor: for PRFZ, our book for it covers 94.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
12 positions in common, counted across the 505 positions we hold weights for in IVV and 1,301 in PRFZ, against full books of 508 and 1,522.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PRFZ | Difference |
|---|---|---|---|
| TECHBio-Techne Corp | 0.02% | 0.33% | 0.31% |
| AXONAxon Enterprise Inc | 0.07% | 0.24% | 0.17% |
| APPAppLovin Corp. Com Cl A | 0.17% | 0.09% | 0.08% |
| TPLTexas Pacific Land Trust | 0.03% | 0.21% | 0.18% |
| IBKRInteractive Brokers Group Inc | 0.06% | 0.15% | 0.09% |
| ERIEErie Indemnity-a | 0.01% | 0.18% | 0.17% |
| TKOTko Group Holdings Inc | 0.02% | 0.12% | 0.10% |
| CVNACarvana Co. Class A | 0.07% | 0.05% | 0.02% |
| LYVLive Nation Entertainment Inc | 0.04% | 0.08% | 0.04% |
| PODDInsulet Corp | 0.01% | 0.11% | 0.10% |
You are not choosing between two funds in isolation.
Whichever of IVV and PRFZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $31 a year on a $10,000 investment.
Which performed better, IVV or PRFZ?
Over the past year IVV returned +17.57% vs +19.95% for PRFZ, so PRFZ leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +9.54% vs +9.04% for PRFZ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PRFZ?
PRFZ has been the more volatile fund at 21.3% annualized versus 15.3% 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 their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or PRFZ?
IVV yields 1.06% while PRFZ yields 0.80%, so IVV currently pays the higher dividend yield.
Is PRFZ better than IVV?
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window, PRFZ over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.