PRFZ vs VYM
Invesco RAFI US 1500 Small-Mid ETF vs Vanguard High Dividend Yield ETF
Which is better, PRFZ or VYM?
Small Cap Blend against Large Cap Value.
VYM has a lower expense ratio. PRFZ led over 1Y, 3Y and the full window, VYM over 5Y. PRFZ is less concentrated, with 4.3% of the fund in its ten largest positions against 26.1%.
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 | VYM |
|---|---|---|
| Expense Ratio | 0.36% | 0.04%Best |
| AUM | $2.7B | $83.1B |
| Dividend Yield | 0.78% | 2.22% |
| Holdings | 3,009 | 608 |
| YTD Return | +15.17%Best | +11.86% |
| 1Y Return | +18.71%Best | +16.81% |
| 3Y Return (annualized) | +19.08%Best | +18.64% |
| 5Y Return (annualized) | +8.56% | +11.86%Best |
| Volatility (annualized) | 21.3% | 14.6%Best |
| Max Drawdown | -63.0% | -58.8%Best |
| $10,000 over 5 years | $15,078 | $17,514Best |
| Top 10 Weight | 4.3%Best | 26.1% |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Value |
| Inception | Sep 20, 2006 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Oct 13, 2026 (19.9 years).
PRFZ vs VYM 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 19.9 years both funds cover.
PRFZ vs VYM Performance
Invesco RAFI US 1500 Small-Mid ETF (PRFZ) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PRFZ returned +18.71% while VYM returned +16.81%. Year to date, PRFZ is up 15.17% versus a gain of 11.86% for VYM.
Over three years, PRFZ compounded at +19.08% per year against +18.64% for VYM; over five years the annualized figures are +8.56% and +11.86% respectively. Across the full 20-year window we track, PRFZ has the edge at +8.65% annualized vs +6.82%.
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 14.6% for VYM. 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 -63.0% for PRFZ and -58.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PRFZ charges 0.36% per year while VYM charges 0.04%. On a $10,000 position that is $36 vs $4 annually, a gap of $32 per year that compounds over a long holding period. On income, PRFZ currently yields 0.78% against 2.22% for VYM.
Holdings Overlap
10.1% of PRFZ's money is in holdings VYM also owns. 1.1% of VYM's money is in holdings PRFZ also owns.
PRFZ and VYM share little of their money.
The two holdings books were reported 46 days apart, PRFZ as of Sep 15, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
85 positions in common, counted across the 1,495 positions we hold weights for in PRFZ and 557 in VYM, against full books of 3,009 and 608.
What only one of them owns
Our book lists 451 positions for VYM that do not appear in our book for PRFZ (95.9% of the fund), and 1,273 for PRFZ that do not appear in VYM (87.9%).
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 VYM | Difference |
|---|---|---|---|
| IRDMIridium Communications Inc | 0.39% | 0.02% | 0.37% |
| UMBFUmb Financial Corp. | 0.28% | 0.04% | 0.24% |
| AUBAtlantic Union Bankshares Corp. | 0.28% | 0.02% | 0.26% |
| HRBH&R Block, Inc. | 0.27% | 0.02% | 0.25% |
| NOGNorthern Oil And Gas Inc | 0.26% | 0.01% | 0.25% |
| VCTRVictory Receivables Corp | 0.24% | 0.02% | 0.22% |
| SXTSensient Technologies Corp | 0.23% | 0.02% | 0.21% |
| AROCArchrock, Inc. | 0.22% | 0.02% | 0.20% |
| MKTXMarketaxess Holdings Inc?.? | 0.22% | 0.02% | 0.20% |
| RLIRli Corp | 0.21% | 0.02% | 0.19% |
You are not choosing between two funds in isolation.
Whichever of PRFZ and VYM 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 VYM?
PRFZ has an expense ratio of 0.36% while VYM charges 0.04%. VYM is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, PRFZ or VYM?
Over the past year PRFZ returned +18.71% vs +16.81% for VYM, so PRFZ leads on 1-year performance. Over the longest common window we track (20 years), PRFZ annualized +8.65% vs +6.82% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PRFZ or VYM?
PRFZ has been the more volatile fund at 21.3% annualized versus 14.6% for VYM. Worst drawdown: PRFZ -63.0% vs VYM -58.8%.
Should I hold both PRFZ and VYM?
PRFZ and VYM have a monthly-return correlation of 0.86, 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 VYM?
10.1% of PRFZ's money is in holdings VYM also owns. 1.1% of VYM's is in holdings PRFZ also owns. They hold 85 positions in common, counted across the 1,495 positions we hold weights for in PRFZ and 557 in VYM.
Which pays a higher dividend, PRFZ or VYM?
PRFZ yields 0.78% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than PRFZ?
VYM has a lower expense ratio. PRFZ led over 1Y, 3Y and the full window, VYM over 5Y. PRFZ is less concentrated, with 4.3% of the fund in its ten largest positions against 26.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.