A reflective polarizer having a block (x) axis and a pass (y) axis, comprising: first and second opposed major surfaces exposed to air and therefore exhibiting Brewster angle reflection minima, the major surfaces being disposed perpendicular to a z-axis which is itself perpendicular to the x- and y-axes; and a stack of N microlayers disposed between the major surfaces and arranged into pairs of adjacent microlayers that exhibit refractive index differences along the x-, y-, and z-axes of Δnx, Δny, and Δnz respectively, where Δnx > Δny > 0 > Δnz; wherein the number N and the index difference Δnx in combination are large enough to provide the polarizer with a high reflectivity for normally incident light polarized along the x-axis of Rblocknormal; wherein the number N and the index difference Δny in combination are small enough to provide the polarizer with a low reflectivity for normally incident light polarized along the y-axis of Rpassnormal; wherein the number N and the index difference Δny in combination are large enough so that the reflective polarizer exhibits a reflectivity greater than Rpassnormal for p-polarized light incident in the y-z plane at the Brewster angle of the first major surface; and wherein Δny is responsible for an incremental portion Rpassinc of Rpassnormal, and a corresponding portion of Δnx equal to Δny is responsible for an incremental portion Rblockinc of Rblocknormal, and characterized in that Rblocknormal is at least 80%; Rpassnormal is 25% or less; and in that the number N is small enough so that Rblockinc is at least half of Rpassinc; wherein said Rpassnormal, Rpassinc, Rblocknormal, and Rblockinc are all reflectivity averages over the same wavelength range. first and second opposed major surfaces exposed to air and therefore exhibiting Brewster angle reflection minima, the major surfaces being disposed perpendicular to a z-axis which is itself perpendicular to the x- and y-axes; and a stack of N microlayers disposed between the major surfaces and arranged into pairs of adjacent microlayers that exhibit refractive index differences along the x-, y-, and z-axes of Δnx, Δny, and Δnz respectively, where Δnx > Δny > 0 > Δnz; wherein the number N and the index difference Δnx in combination are large enough to provide the polarizer with a high reflectivity for normally incident light polarized along the x-axis of Rblocknormal; wherein the number N and the index difference Δny in combination are small enough to provide the polarizer with a low reflectivity for normally incident light polarized along the y-axis of Rpassnormal; wherein the number N and the index difference Δny in combination are large enough so that the reflective polarizer exhibits a reflectivity greater than Rpassnormal for p-polarized light incident in the y-z plane at the Brewster angle of the first major surface; and wherein Δny is responsible for an incremental portion Rpassinc of Rpassnormal, and a corresponding portion of Δnx equal to Δny is responsible for an incremental portion Rblockinc of Rblocknormal, and characterized in that Rblocknormal is at least 80%; Rpassnormal is 25% or less; and in that the number N is small enough so that Rblockinc is at least half of Rpassinc; wherein said Rpassnormal, Rpassinc, Rblocknormal, and Rblockinc are all reflectivity averages over the same wavelength range.