CTHAX vs. TCAF

Last updated Jun 24, 2026

CTHAX (American Funds College 2030 Fund) and TCAF (T. Rowe Price Capital Appreciation Equity ETF) are both funds - CTHAX is a Diversified Portfolio fund managed by American Funds, while TCAF is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past 3 years, CTHAX returned 9.22%/yr vs 17.42%/yr for TCAF. A 0.76 correlation means they provide meaningful diversification when combined. CTHAX charges 0.41%/yr vs 0.31%/yr for TCAF.

Performance

CTHAX vs. TCAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds College 2030 Fund (CTHAX) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTHAX achieves a 2.40% return, which is significantly lower than TCAF's 4.55% return.

CTHAX

• 1D: -0.21%
• 1M: 0.36%
• YTD: 2.40%
• 6M: 2.40%
• 1Y: 8.64%
• 3Y*: 9.22%
• 5Y*: 4.32%
• 10Y*: 6.95%

TCAF

• 1D: -0.79%
• 1M: -1.19%
• YTD: 4.55%
• 6M: 4.09%
• 1Y: 17.22%
• 3Y*: 17.42%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CTHAX vs. TCAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CTHAX American Funds College 2030 Fund	2.40%	11.55%	7.66%	5.78%
TCAF T. Rowe Price Capital Appreciation Equity ETF	4.55%	15.45%	20.93%	9.71%

Correlation

The correlation between CTHAX and TCAF is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.76

The correlation between CTHAX and TCAF has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

Return for Risk

CTHAX vs. TCAF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CTHAX

CTHAX Risk / Return Rank: 50
CTHAX Sharpe Ratio Rank: 54
CTHAX Sortino Ratio Rank: 55
CTHAX Omega Ratio Rank: 57
CTHAX Calmar Ratio Rank: 38
CTHAX Martin Ratio Rank: 47

TCAF

TCAF Risk / Return Rank: 39
TCAF Sharpe Ratio Rank: 43
TCAF Sortino Ratio Rank: 41
TCAF Omega Ratio Rank: 42
TCAF Calmar Ratio Rank: 31
TCAF Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CTHAX vs. TCAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds College 2030 Fund (CTHAX) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	CTHAX	TCAF	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.44	+0.56
Sortino ratio: Return per unit of downside risk	2.87	2.00	+0.87
Omega ratio: Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	2.25	1.53	+0.73
Martin ratio: Return relative to average drawdown	9.31	6.00	+3.31

CTHAX vs. TCAF - Sharpe Ratio Comparison

The current CTHAX Sharpe Ratio is 2.00, which is higher than the TCAF Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of CTHAX and TCAF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTHAX vs. TCAF - Drawdown Comparison

The maximum CTHAX drawdown since its inception was -17.17%, roughly equal to the maximum TCAF drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for CTHAX and TCAF.

Drawdown Indicators

	CTHAX	TCAF	Difference
Max Drawdown Largest peak-to-trough decline	-17.17%	-16.37%	-0.80%
Max Drawdown (1Y) Largest decline over 1 year	-4.03%	-11.33%	+7.30%
Max Drawdown (3Y) Largest decline over 3 years	-6.16%	-16.37%	+10.21%
Max Drawdown (5Y) Largest decline over 5 years	-17.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.17%	—	—
Current Drawdown Current decline from peak	-0.56%	-2.80%	+2.24%
Average Drawdown Average peak-to-trough decline	-2.80%	-2.07%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	2.88%	-1.91%

Volatility

CTHAX vs. TCAF - Volatility Comparison

The current volatility for American Funds College 2030 Fund (CTHAX) is 1.50%, while T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a volatility of 4.21%. This indicates that CTHAX experiences smaller price fluctuations and is considered to be less risky than TCAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTHAX	TCAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	4.21%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	3.65%	9.43%	-5.78%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	12.00%	-7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.75%	14.02%	-7.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.83%	14.02%	-6.19%

CTHAX vs. TCAF - Expense Ratio Comparison

CTHAX has a 0.41% expense ratio, which is higher than TCAF's 0.31% expense ratio.

Dividends

CTHAX vs. TCAF - Dividend Comparison

CTHAX's dividend yield for the trailing twelve months is around 5.42%, more than TCAF's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTHAX American Funds College 2030 Fund	5.42%	5.55%	3.94%	2.98%	4.05%	12.40%	5.63%	4.55%	6.43%	3.74%	4.26%	4.01%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.48%	0.50%	0.43%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CTHAX and TCAF in my portfolio?

CTHAX and TCAF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTHAX or TCAF?

TCAF has higher volatility (4.21%) compared to CTHAX (1.50%). In terms of maximum drawdown, CTHAX dropped -17.17% vs TCAF's -16.37%.

Which has better risk-adjusted returns?

CTHAX currently has the higher Sharpe Ratio (2.00 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.