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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 Premium Income 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 Premium Income ETF (TCAL) has returned -2.47% so far this year and -1.38% over the past 12 months.
T. Rowe Price Capital Appreciation Premium Income ETF
- 1D
- 0.99%
- 1M
- -5.52%
- YTD
- -2.47%
- 6M
- -2.85%
- 1Y
- -1.38%
- 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 Mar 27, 2025, TCAL's average daily return is 0.00%, while the average monthly return is -0.05%.
Historically, 69% of months were positive and 31% were negative. The best month was Nov 2025 with a return of +2.5%, while the worst month was Mar 2026 at -5.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 1 months.
On a daily basis, TCAL closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +3.8%, while the worst single day was Apr 4, 2025 at -4.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.42% | 1.79% | -5.52% | -2.47% | |||||||||
| 2025 | 0.46% | -0.82% | 0.78% | 0.36% | 0.13% | 0.66% | 0.41% | -1.18% | 2.49% | -1.65% | 1.58% |
Benchmark Metrics
T. Rowe Price Capital Appreciation Premium Income ETF has an annualized alpha of -5.77%, beta of 0.37, and R² of 0.34 versus S&P 500 Index. Calculated based on daily prices since March 28, 2025.
- This ETF participated in 73.17% of S&P 500 Index downside but only 19.92% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.37 may look defensive, but with R² of 0.34 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.34 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -5.77%
- Beta
- 0.37
- R²
- 0.34
- Upside Capture
- 19.92%
- Downside Capture
- 73.17%
Expense Ratio
TCAL has an expense ratio of 0.34%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TCAL ranks 9 for risk / return — in the bottom 9% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) and compare them to a chosen benchmark (S&P 500 Index).
| TCAL | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.12 | 0.90 | -1.01 |
Sortino ratioReturn per unit of downside risk | -0.09 | 1.39 | -1.47 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.21 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.07 | 1.40 | -1.46 |
Martin ratioReturn relative to average drawdown | -0.22 | 6.61 | -6.83 |
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 TCAL 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 Premium Income ETF provided a 11.74% dividend yield over the last twelve months, with an annual payout of $2.62 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.62 | $1.97 |
Dividend yield | 11.74% | 8.34% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Capital Appreciation Premium Income 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 | $0.26 | $0.18 | $0.22 | $0.66 | |||||||||
| 2025 | $0.17 | $0.24 | $0.22 | $0.20 | $0.20 | $0.20 | $0.30 | $0.21 | $0.22 | $1.97 |
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 Premium Income 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 Premium Income ETF was 7.24%, occurring on Apr 8, 2025. Recovery took 45 trading sessions.
The current T. Rowe Price Capital Appreciation Premium Income ETF drawdown is 5.52%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.24% | Apr 3, 2025 | 4 | Apr 8, 2025 | 45 | Jun 12, 2025 | 49 |
| -7% | Mar 3, 2026 | 19 | Mar 27, 2026 | — | — | — |
| -3.82% | Oct 21, 2025 | 10 | Nov 3, 2025 | 65 | Feb 6, 2026 | 75 |
| -2.63% | Aug 21, 2025 | 18 | Sep 16, 2025 | 24 | Oct 20, 2025 | 42 |
| -2.42% | Feb 9, 2026 | 4 | Feb 12, 2026 | 10 | Feb 27, 2026 | 14 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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