Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) Performance
PXF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +18.6% since Dec 31, 2025
- 1 year
- +26.3% total return
- 5 years
- +13.7% a year
- 10 years
- +11.3% a year
- Since first price
- +5.4% a year since 2007
PXF trailing returns vs SPY, QQQ, AGG
| Period | PXF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.8% | −1.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.2% | +0.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.9% | +4.2% | +7.8% | +8.4% | −1.5% |
| YTD | +18.6% | +15.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +26.3% | +21.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +99.6%+25.9%/yr | +79.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +89.9%+13.7%/yr | +57.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +191.4%+11.3%/yr | +106.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +263.7%+9.0%/yr | +121.3% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJun 25, 2007 | +175.5%+5.4%/yr | +53.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PXF vs SPY
From Jun 25, 2007: PXF grew to $27,549, SPY to $72,110.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PXF returns by calendar year
12 of 18 full years positive. Best 2025 (+42.5%), worst 2008 (−42.4%). 2026 is year to date.
PXF annual returns table
| Year | PXF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +18.6% | −10.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +42.5% | −14.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.5% | −9.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.5% | −10.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.1% | −26.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +15.9% | −8.4% | +28.7% | +27.4% | −1.8% |
| 2020 | +2.6% | −38.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +17.5% | −10.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.8% | −23.1% | −4.6% | −0.1% | +0.1% |
| 2017 | +24.5% | −2.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +7.3% | −11.9% | +12.0% | +7.1% | +2.4% |
| 2015 | −5.7% | −18.8% | +1.2% | +9.4% | +0.5% |
| 2014 | −6.8% | −15.4% | +13.5% | +19.2% | +6.0% |
| 2013 | +23.8% | −10.4% | +32.3% | +36.6% | −2.0% |
| 2012 | +16.9% | −20.6% | +16.0% | +18.1% | +3.8% |
| 2011 | −16.7% | −29.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +6.8% | −22.4% | +15.1% | +19.9% | +6.4% |
| 2009 | +36.0% | −32.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −42.4% | −53.6% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PXF largest drawdowns
Now 4.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 19, 2007 | −64.7% | Mar 9, 2009 | Jul 14, 2017 | 1.2 years | 9.6 years |
| Jan 26, 2018 | −41.6% | Mar 23, 2020 | Jan 7, 2021 | 2.2 years | 2.9 years |
| Jan 12, 2022 | −26.8% | Sep 27, 2022 | Jul 26, 2023 | 8 months | 1.5 years |
| Mar 19, 2025 | −14.1% | Apr 8, 2025 | May 2, 2025 | 20 days | 44 days |
| Jul 13, 2007 | −11.3% | Aug 16, 2007 | Oct 11, 2007 | 34 days | 3 months |
| Feb 27, 2026 | −10.9% | Mar 20, 2026 | May 6, 2026 | 21 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PXF risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +24.8% | +14.5% | +11.3% | +5.3% |
| Volatility (annualized) | 13.0% | 16.1% | 16.4% | 19.4% |
| Sharpe ratio | 1.45 | 0.70 | 0.60 | 0.30 |
| Sortino ratio | 2.62 | 1.11 | 0.91 | 0.43 |
| Best month | +8.7% | +12.2% | +17.8% | +21.7% |
| Worst month | −7.5% | −10.2% | −18.2% | −20.3% |
| Best 12 months | +53.9% | +53.9% | +55.9% | +71.3% |
| Worst 12 months | +4.5% | −21.3% | −21.8% | −52.5% |
| Positive months | 72% | 65% | 64% | 56% |
| Beta vs S&P 500 | 0.58 | 0.75 | 0.83 | — |
| Correlation with S&P 500 | 0.56 | 0.73 | 0.78 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PXF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 221 | −52.5% | +6.9% | +71.3% | 60% |
| 3-year (a year) | 197 | −12.9% | +5.8% | +26.2% | 81% |
| 5-year (a year) | 173 | −6.7% | +5.8% | +18.7% | 85% |
| 10-year (a year) | 113 | +0.8% | +5.0% | +12.5% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
PXF performance overview
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) returned +26.3% over the past year and +11.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +5.4% a year, turning $10,000 into about $27,549. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −64.7%, from Dec 19, 2007 to Mar 9, 2009, and it took 8.3 years to get back to the old high. PXF finished 12 of its 18 full calendar years with a gain; the best year was 2025 (+42.5%) and the worst 2008 (−42.4%). Volatility has been 19.4% a year.
Related: PXF chart, PXF holdings, PXF dividends. See the PXF overview for the latest quote and fund facts.
PXF performance FAQ
What is the PXF return over the past year?
PXF returned +26.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 21.9%.
What is the average annual return of PXF?
PXF has returned +13.7% a year over 5 years, +11.3% a year over 10 years, +5.4% a year since June 25, 2007 (total return, distributions reinvested).
How much would $10,000 invested in PXF be worth?
$10,000 invested in PXF at its first recorded close on June 25, 2007 would be worth about $27,549 on October 23, 2026 with distributions reinvested.
What was the worst year for PXF?
The worst calendar year was 2008, with a total return of −42.4%. The best was 2025 at +42.5%.
What is the biggest drawdown of PXF?
The largest peak-to-trough decline was −64.7% between December 19, 2007 and March 9, 2009. It recovered to the old high on July 14, 2017, 8.3 years after the bottom.
How volatile is PXF?
Over the past 3 years PXF had an annualized volatility of 13.0% and a Sharpe ratio of 1.45 (excess return over 1–3 month T-bills per unit of risk).