PRFZ vs SCHD
Invesco RAFI US 1500 Small-Mid ETF vs Schwab US Dividend Equity ETF
Which is better, PRFZ or SCHD?
Small Cap Blend against Large Cap Value.
SCHD has a lower expense ratio. PRFZ led over 3Y and the full window, SCHD over 1Y and 5Y. PRFZ is less concentrated, with 4.3% of the fund in its ten largest positions against 41.8%.
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 | PRFZ | SCHD |
|---|---|---|
| Expense Ratio | 0.36% | 0.06%Best |
| AUM | $2.7B | $108.9B |
| Dividend Yield | 0.78% | 3.00% |
| Holdings | 3,009 | 206 |
| YTD Return | +15.37% | +22.89%Best |
| 1Y Return | +18.92% | +29.27%Best |
| 3Y Return (annualized) | +19.72%Best | +16.56% |
| 5Y Return (annualized) | +8.58% | +9.63%Best |
| Volatility (annualized) | 18.8% | 13.7%Best |
| Max Drawdown | -45.7% | -33.4%Best |
| $10,000 over 5 years | $15,092 | $15,836Best |
| Top 10 Weight | 4.3%Best | 41.8% |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Value |
| Inception | Sep 20, 2006 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Oct 12, 2026 (15 years).
PRFZ vs SCHD 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 15 years both funds cover.
PRFZ vs SCHD Performance
Invesco RAFI US 1500 Small-Mid ETF (PRFZ) is an ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year PRFZ returned +18.92% while SCHD returned +29.27%. Year to date, PRFZ is up 15.37% versus a gain of 22.89% for SCHD.
Over three years, PRFZ compounded at +19.72% per year against +16.56% for SCHD; over five years the annualized figures are +8.58% and +9.63% respectively. Across the full 15-year window we track, PRFZ has the edge at +11.34% annualized vs +11.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PRFZ has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 13.7% for SCHD. 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 -45.7% for PRFZ and -33.4% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PRFZ charges 0.36% per year while SCHD charges 0.06%. On a $10,000 position that is $36 vs $6 annually, a gap of $30 per year that compounds over a long holding period. On income, PRFZ currently yields 0.78% against 3.00% for SCHD.
Holdings Overlap
2.4% of PRFZ's money is in holdings SCHD also owns. 1.4% of SCHD's money is in holdings PRFZ also owns.
PRFZ and SCHD share little of their money.
32 positions in common, counted across the 1,495 positions we hold weights for in PRFZ and 99 in SCHD, against full books of 3,009 and 206.
What only one of them owns
Our book lists 67 positions for SCHD that do not appear in our book for PRFZ (98.6% of the fund), and 1,328 for PRFZ that do not appear in SCHD (95.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PRFZ | Weight in SCHD | Difference |
|---|---|---|---|
| ERIEErie Indemnity-a | 0.19% | 0.16% | 0.03% |
| CWENClearway Energy, Inc., Class C | 0.16% | 0.09% | 0.07% |
| NSPInsperity Inc | 0.19% | 0.05% | 0.14% |
| CVBFCvb Financial Corp. | 0.15% | 0.09% | 0.06% |
| WENWendy's Co/the | 0.20% | 0.03% | 0.17% |
| APAMArtisan Partners Asset Management, Inc. | 0.11% | 0.07% | 0.04% |
| LANCLancaster Colony Corp | 0.10% | 0.05% | 0.05% |
| BANRBanner Corp_None_0 | 0.09% | 0.06% | 0.03% |
| CNSCohen & Steers Capital Management, Inc. | 0.09% | 0.05% | 0.04% |
| AGMFederal Agricultural Mortgage Corp | 0.09% | 0.05% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of PRFZ and SCHD 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, PRFZ or SCHD?
PRFZ has an expense ratio of 0.36% while SCHD charges 0.06%. SCHD is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, PRFZ or SCHD?
Over the past year PRFZ returned +18.92% vs +29.27% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PRFZ annualized +11.34% vs +11.17% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PRFZ or SCHD?
PRFZ has been the more volatile fund at 18.8% annualized versus 13.7% for SCHD. Worst drawdown: PRFZ -45.7% vs SCHD -33.4%.
Should I hold both PRFZ and SCHD?
PRFZ and SCHD have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PRFZ and SCHD?
2.4% of PRFZ's money is in holdings SCHD also owns. 1.4% of SCHD's is in holdings PRFZ also owns. They hold 32 positions in common, counted across the 1,495 positions we hold weights for in PRFZ and 99 in SCHD.
Which pays a higher dividend, PRFZ or SCHD?
PRFZ yields 0.78% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than PRFZ?
SCHD has a lower expense ratio. PRFZ led over 3Y and the full window, SCHD over 1Y and 5Y. PRFZ is less concentrated, with 4.3% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.