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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Capital Appreciation Equity ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
T. Rowe Price Capital Appreciation Equity ETF (TCAF) has returned -6.88% so far this year and 10.81% over the past 12 months.
T. Rowe Price Capital Appreciation Equity ETF
- 1D
- 2.98%
- 1M
- -5.55%
- YTD
- -6.88%
- 6M
- -5.12%
- 1Y
- 10.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jun 15, 2023, TCAF's average daily return is +0.05%, while the average monthly return is +1.07%. At this rate, your investment would double in approximately 5.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +9.1%, 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 52% 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% | -6.88% | |||||||||
| 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 -0.40%, 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 98.36% of S&P 500 Index downside but only 91.25% 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
- -0.40%
- Beta
- 0.91
- R²
- 0.94
- Upside Capture
- 91.25%
- Downside Capture
- 98.36%
Expense Ratio
TCAF has an expense ratio of 0.31%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TCAF ranks 35 for risk / return — below 35% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
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 a chosen benchmark (S&P 500 Index).
| TCAF | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 0.90 | -0.27 |
Sortino ratioReturn per unit of downside risk | 1.02 | 1.39 | -0.37 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.98 | 1.40 | -0.42 |
Martin ratioReturn relative to average drawdown | 3.61 | 6.61 | -3.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore TCAF risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
T. Rowe Price Capital Appreciation Equity ETF provided a 0.54% 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 | 0.54% | 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 | |||||||||
| 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 8.66%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.37% | Jan 29, 2025 | 49 | Apr 8, 2025 | 53 | Jun 25, 2025 | 102 |
| -11.33% | Oct 30, 2025 | 102 | Mar 27, 2026 | — | — | — |
| -8.8% | Jul 31, 2023 | 64 | Oct 27, 2023 | 16 | Nov 20, 2023 | 80 |
| -5.99% | Jul 17, 2024 | 16 | Aug 7, 2024 | 8 | Aug 19, 2024 | 24 |
| -4.56% | Mar 28, 2024 | 16 | Apr 19, 2024 | 17 | May 14, 2024 | 33 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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