Symbols

PRFZ

Invesco RAFI US 1500 Small-Mid ETF·NASDAQ

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Key Stats

Assets Under Management

2.66BUSD

Fund Flow (1Y)

-179.11MUSD

Dividend Yield

0.91%

Discount / Premium to NAV

-0.03%

Shares Outstanding

56.94M

Expense Ratio

0.34%

About Invesco RAFI US 1500 Small-Mid ETF

Issuer

Invesco Capital Management LLC

Brand

Invesco

Home Page

https://www.invesco.com/us/financial-products/etfs/product-detail?productId=prfz

Inception Date

Sep 20, 2006

Structure

Open-Ended Fund

Index Tracked

RAFI Fundamental Select US 1500 Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Invesco Capital Management LLC

Distributor

Invesco Distributors, Inc.

PRFZ is more of a fundamental small-cap portfolio than a true extended market fund. The index calculates a "fundamental weight" for the components of the FTSE USA Total Cap Index based on their book values, dividends, free cash flows and total sales. It then selects firms ranked 1,001-2,500 by fundamental weight, rather than by market cap. This process effectively removes most mid-caps. PRFZ then weights holdings by their fundamental factors, further tilting the portfolio small—a large majority of the portfolio is allocated to small- and micro-caps. From a size perspective, PRFZ pairs well with sibling fund PRF, which is the large-cap version of this fund. The index is rebalanced and reconstituted annually.