PRF vs QDEF
Invesco RAFI US 1000 ETF vs Northern Trust Quality Dividend Defensive ETF
Which is better, PRF or QDEF?
Nearly the same fund. PRF costs less.
PRF has a lower expense ratio. PRF led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. PRF is less concentrated, with 23.7% of the fund in its ten largest positions against 36.5%.
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 | PRF | QDEF |
|---|---|---|
| Expense Ratio | 0.34%Best | 0.37% |
| AUM | $10.0B | $555M |
| Dividend Yield | 1.36% | 1.60% |
| Holdings | 2,000 | 137 |
| YTD Return | +18.98%Best | +12.91% |
| 1Y Return | +25.61%Best | +16.44% |
| 3Y Return (annualized) | +22.16%Best | +20.19% |
| 5Y Return (annualized) | +13.14%Best | +12.98% |
| Volatility (annualized) | 14.8% | 13.3%Best |
| Max Drawdown | -38.7% | -36.2%Best |
| $10,000 over 5 years | $18,539Best | $18,408 |
| Top 10 Weight | 23.7%Best | 36.5% |
| Fund Family | Invesco (US) | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Dec 19, 2005 | Dec 14, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Dec 19, 2012 to Oct 14, 2026 (13.8 years).
PRF vs QDEF 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 13.8 years both funds cover.
PRF vs QDEF Performance
Invesco RAFI US 1000 ETF (PRF) is an ETF from Invesco (US) and Northern Trust Quality Dividend Defensive ETF (QDEF) is an ETF from Northern Trust Asset Management. Over the past year PRF returned +25.61% while QDEF returned +16.44%. Year to date, PRF is up 18.98% versus a gain of 12.91% for QDEF.
Over three years, PRF compounded at +22.16% per year against +20.19% for QDEF; over five years the annualized figures are +13.14% and +12.98% respectively. Across the full 14-year window we track, PRF has the edge at +12.13% annualized vs +10.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PRF has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 13.3% for QDEF. 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 -38.7% for PRF and -36.2% for QDEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PRF charges 0.34% per year while QDEF charges 0.37%. On a $10,000 position that is $34 vs $37 annually, a gap of $3 per year that compounds over a long holding period. On income, PRF currently yields 1.36% against 1.60% for QDEF.
Holdings Overlap
41.9% of PRF's money is in holdings QDEF also owns. 91.5% of QDEF's money is in holdings PRF also owns.
Most of QDEF is already inside PRF. Owning both mostly buys the same companies twice.
133 positions in common, counted across the 907 positions we hold weights for in PRF and 154 in QDEF, against full books of 2,000 and 137.
What only one of them owns
Our book lists 17 positions for QDEF that do not appear in our book for PRF (6.5% of the fund), and 742 for PRF that do not appear in QDEF (54.0%).
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 PRF | Weight in QDEF | Difference |
|---|---|---|---|
| AAPLApple, Inc | 4.67% | 8.95% | 4.28% |
| NVDANvidia Corp | 0.81% | 7.39% | 6.58% |
| MSFTMicrosoft Corp | 3.18% | 4.55% | 1.37% |
| GOOGLAlphabet Inc | 3.37% | 2.35% | 1.02% |
| JNJJohnson & Johnson - Common | 1.07% | 2.80% | 1.73% |
| METAMeta Platforms Inc | 2.10% | 1.59% | 0.51% |
| JPMJpmorgan Chase | 1.62% | 2.01% | 0.39% |
| AVGOBroadcom Inc | 0.54% | 2.66% | 2.12% |
| XOMExxonmobil Corp. | 1.91% | 0.49% | 1.42% |
| PMPhilip Morris International Inc. | 0.33% | 2.06% | 1.73% |
91.5% of QDEF is already inside PRF.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PRF or QDEF?
PRF has an expense ratio of 0.34% while QDEF charges 0.37%. PRF is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, PRF or QDEF?
Over the past year PRF returned +25.61% vs +16.44% for QDEF, so PRF leads on 1-year performance. Over the longest common window we track (14 years), PRF annualized +12.13% vs +10.54% for QDEF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PRF or QDEF?
PRF has been the more volatile fund at 14.8% annualized versus 13.3% for QDEF. Worst drawdown: PRF -38.7% vs QDEF -36.2%.
Should I hold both PRF and QDEF?
PRF and QDEF have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between PRF and QDEF?
91.5% of QDEF's money is in holdings PRF also owns. 91.5% of QDEF's is in holdings PRF also owns. They hold 133 positions in common, counted across the 907 positions we hold weights for in PRF and 154 in QDEF.
Which pays a higher dividend, PRF or QDEF?
PRF yields 1.36% while QDEF yields 1.60%, so QDEF currently pays the higher dividend yield.
Is QDEF better than PRF?
PRF has a lower expense ratio. PRF led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. PRF is less concentrated, with 23.7% of the fund in its ten largest positions against 36.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.