- CUSIP
- 87283Q784
- Issuer
- T. Rowe Price
- Inception Date
- Mar 26, 2025
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
- Assets Under Management
- $272M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
TCAL Performance Chart
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is down 2.7% since the beginning of the year. TCAL is currently trading at $22 per share.
Loading charts...
Returns By Period
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) has returned -2.66% so far this year and -0.32% over the past 12 months.
T. Rowe Price Capital Appreciation Premium Income ETF
- 1D
- -0.81%
- 1M
- -1.74%
- YTD
- -2.66%
- 6M
- -3.43%
- 1Y
- -0.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TCAL Monthly Returns History
Based on dividend-adjusted daily data since Mar 27, 2025, TCAL's average daily return is 0.00%, while the average monthly return is -0.03%.
Historically, 63% of months were positive and 38% 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 2 months.
On a daily basis, TCAL closed higher 52% 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% | 1.61% | -0.97% | -0.81% | -2.66% | ||||||
| 2025 | 0.76% | -0.82% | 0.78% | 0.36% | 0.13% | 0.66% | 0.41% | -1.18% | 2.49% | -1.65% | 1.89% |
Benchmark Metrics
T. Rowe Price Capital Appreciation Premium Income ETF has an annualized alpha of -7.80%, beta of 0.35, and R2 of 0.29 versus S&P 500 Index. Calculated based on daily prices since March 27, 2025.
- This ETF participated in 66.15% of S&P 500 Index downside but only 12.52% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.35 may look defensive, but with R2 of 0.29 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 0.29 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -7.80%
- Beta
- 0.35
- R²
- 0.29
- Upside Capture
- 12.52%
- Downside Capture
- 66.15%
Expense Ratio
TCAL has an expense ratio of 0.34%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TCAL ranks 8 for risk / return — in the bottom 8% 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 S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TCAL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.37 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.78 | -2.83 |
| Martin ratioReturn relative to average drawdown | -0.11 | 12.44 | -12.55 |
Dividends
Dividend History
T. Rowe Price Capital Appreciation Premium Income ETF provided a 11.93% dividend yield over the last twelve months, with an annual payout of $2.61 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.61 | $1.97 |
Dividend yield | 11.93% | 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 | $0.21 | $0.19 | $0.00 | $1.06 | ||||||
| 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.
Loading charts...
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 5.71%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -7.24%Apr 2025 | 5d | 2mo 5d | 2mo 10dApr 2025 - Jun 2025 |
2026 pullback2026 | -7.00%Mar 2026 | 24d | — | 3mo 22dMar 2026 - now |
2025 pullback2025 | -3.82%Nov 2025 | 13d | 3mo 5d | 3mo 18dOct 2025 - Feb 2026 |
2025 pullback2025 | -2.63%Sep 2025 | 26d | 1mo 4d | 2moAug 2025 - Oct 2025 |
2026 pullback2026 | -2.42%Feb 2026 | 3d | 15d | 18dFeb 2026 - Feb 2026 |
Drawdown Indicators
| TCAL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.24% | -56.78% | +49.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -9.10% | +2.10% |
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 | -5.71% | -1.80% | -3.91% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -10.71% | +8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.03% | +0.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with TCAL
Add T. Rowe Price Capital Appreciation Premium Income ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with TCAL