MLRG vs PRFZ: Differences, Returns & Fees
MLRG and PRFZ hold 1% of their weight in the same names, and PRFZ returned +16.1% over the year. Net assets on Oct 20, 2026: $1.3bn for iShares MSCI USA ETF and $2.6bn for Invesco RAFI US 1500 Small-Mid ETF.
MLRG costs 0.33 points a year less; their one-year returns differ by 0.6 points; PRFZ is 2.0 times larger.
| MLRG | PRFZ | |
|---|---|---|
| Expense ratio | 0.03% | 0.36% |
| Net assets | $1.3bn | $2.6bn |
| Total return, 1 year | +15.5% | +16.1% |
| What it tracks | MSCI USA Index | RAFI Fundamental Select US 1500 Index |
| Holdings in common | 1% | |
| Top ten holdings, share of the fund | 37.8% | 4.0% |
| Below its high | 6.9%, high on Aug 14, 2026 | |
Holdings in common uses holdings dated Oct 19, 2026.
MLRG and PRFZ are built for the same job. How do they differ in cost, holdings and results?
- What each follows. MLRG follows MSCI USA Index and PRFZ follows RAFI Fundamental Select US 1500 Index.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Oct 19, 2026).
- Cost. MLRG charges 0.03% of assets a year and PRFZ 0.36%, a gap of 0.33 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, MLRG and PRFZ hold 1% of their money in the same securities at the same weight. Holdings dated Oct 19, 2026.
half
1% in common
On the same fields
MLRG and PRFZ on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About MLRG
MLRG tracks an index. Over the year to Oct 20, 2026 it returned +15.5% with distributions reinvested, against +15.4% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 19, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 515 positions, with the top ten at 37.8%.
About PRFZ
PRFZ tracks an index. The prospectus expense ratio is 0.36% a year. By its holdings published by its issuer for Oct 19, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 1,491 positions, with the top ten at 4.0%. It sat 6.9% below its high of Aug 14, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +16.1% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, MLRG or PRFZ?
- In the year to Oct 20, 2026, with distributions reinvested, MLRG returned +15.5% and PRFZ +16.1%.
- Which is cheaper, MLRG or PRFZ?
- MLRG is cheaper, by 0.33 percentage points a year. That is about $33 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, MLRG against PRFZ, data as of Oct 20, 2026. https://etfiq.com/compare/any/mlrg-vs-prfz
ETFIQ. (Oct 20, 2026). MLRG against PRFZ. Retrieved from https://etfiq.com/compare/any/mlrg-vs-prfz
[MLRG against PRFZ (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/mlrg-vs-prfz)
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