- CUSIP
- 87283Q867
- Issuer
- T. Rowe Price
- Inception Date
- Jun 14, 2023
- Category
- Large Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $7B
Share Price Chart
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Performance
TCAF Performance Chart
T. Rowe Price Capital Appreciation Equity ETF (TCAF) is up 4.7% since the beginning of the year. TCAF is currently trading at $40 per share.
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Returns By Period
T. Rowe Price Capital Appreciation Equity ETF (TCAF) has returned 4.74% so far this year and 17.63% over the past 12 months.
T. Rowe Price Capital Appreciation Equity ETF
- 1D
- -2.17%
- 1M
- -0.32%
- YTD
- 4.74%
- 6M
- 4.88%
- 1Y
- 17.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- -0.21%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
TCAF Monthly Returns History
Based on dividend-adjusted daily data since Jun 15, 2023, TCAF's average daily return is +0.07%, while the average monthly return is +1.32%. At this rate, an investment would double in approximately 4.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2026 with a return of +10.4%, while the worst month was Mar 2026 at -5.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TCAF closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +8.9%, while the worst single day was Apr 4, 2025 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.05% | -1.36% | -5.55% | 10.37% | 4.66% | -2.63% | 4.74% | ||||||
| 2025 | 3.49% | -2.12% | -4.21% | -0.81% | 4.56% | 5.38% | 3.85% | 0.30% | 2.59% | 2.41% | 0.52% | -1.03% | 15.45% |
| 2024 | 1.12% | 5.55% | 2.51% | -3.31% | 4.14% | 3.19% | 2.10% | 1.75% | 1.90% | -1.62% | 4.95% | -2.67% | 20.93% |
| 2023 | -0.08% | 2.85% | -0.99% | -4.58% | -1.69% | 9.10% | 4.10% | 8.40% |
Benchmark Metrics
T. Rowe Price Capital Appreciation Equity ETF has an annualized alpha of -0.14%, beta of 0.91, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since June 16, 2023.
- This ETF participated in 98.58% of S&P 500 Index downside but only 91.91% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.91 and R2 of 0.94, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.14%
- Beta
- 0.91
- R²
- 0.94
- Upside Capture
- 91.91%
- Downside Capture
- 98.58%
Expense Ratio
TCAF has an expense ratio of 0.31%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TCAF ranks 47 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Equity ETF (TCAF) and compare them to S&P 500 Index.
| TCAF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.69 | -1.04 |
| Martin ratioReturn relative to average drawdown | 6.58 | 12.34 | -5.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
T. Rowe Price Capital Appreciation Equity ETF provided a 0.48% dividend yield over the last twelve months, with an annual payout of $0.19 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.19 | $0.19 | $0.14 | $0.07 |
Dividend yield | 0.48% | 0.50% | 0.43% | 0.26% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Capital Appreciation Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2023 | $0.07 | $0.07 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Capital Appreciation Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Capital Appreciation Equity ETF was 16.37%, occurring on Apr 8, 2025. Recovery took 53 trading sessions.
The current T. Rowe Price Capital Appreciation Equity ETF drawdown is 2.63%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -16.37%Apr 2025 | 2mo 9d | 2mo 18d | 4mo 27dJan 2025 - Jun 2025 |
2026 correction2026 | -11.33%Mar 2026 | 4mo 28d | 21d | 5mo 19dOct 2025 - Apr 2026 |
2023 pullback2023 | -8.80%Oct 2023 | 2mo 28d | 24d | 3mo 22dJul 2023 - Nov 2023 |
2024 pullback2024 | -5.99%Aug 2024 | 21d | 12d | 1mo 3dJul 2024 - Aug 2024 |
2024 pullback2024 | -4.56%Apr 2024 | 22d | 25d | 1mo 17dMar 2024 - May 2024 |
Drawdown Indicators
| TCAF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.37% | -56.78% | +40.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -9.10% | -2.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.63% | -2.97% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -10.72% | +8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 1.97% | +0.86% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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