DYNF vs. TCAF

Last updated Jul 14, 2026

DYNF (iShares U.S. Equity Factor Rotation Active ETF) and TCAF (T. Rowe Price Capital Appreciation Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, DYNF returned 23.81%/yr vs 17.73%/yr for TCAF. Their correlation of 0.89 suggests significant overlap in exposure. DYNF charges 0.26%/yr vs 0.31%/yr for TCAF.

Performance

DYNF vs. TCAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Equity Factor Rotation Active ETF (DYNF) 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, DYNF achieves a 11.67% return, which is significantly higher than TCAF's 8.84% return.

DYNF

• 1D: -0.79%
• 1M: 1.63%
• 6M: 10.13%
• YTD: 11.67%
• 1Y: 24.38%
• 3Y*: 23.81%
• 5Y*: 14.86%
• 10Y*: —

TCAF

• 1D: -0.76%
• 1M: 4.29%
• 6M: 7.44%
• YTD: 8.84%
• 1Y: 17.14%
• 3Y*: 17.73%
• 5Y*: —
• 10Y*: —

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

DYNF vs. TCAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DYNF iShares U.S. Equity Factor Rotation Active ETF	11.67%	20.00%	30.29%	13.15%
TCAF T. Rowe Price Capital Appreciation Equity ETF	8.84%	15.45%	20.93%	9.71%

Correlation

The correlation between DYNF and TCAF is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.89

The correlation between DYNF and TCAF has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

DYNF vs. TCAF - Sectors Allocation Comparison

Sectors	DYNF	TCAF
Technology	40.0%	34.0%
Financial Services	15.3%	6.1%
Communication Services	9.8%	10.5%
Industrials	9.5%	4.7%
Consumer Cyclical	7.1%	12.4%
Healthcare	6.3%	17.6%
Energy	4.4%	2.6%
Utilities	2.9%	8.7%
Real Estate	2.0%	0.1%
Consumer Defensive	1.6%	3.3%
Basic Materials	0.7%	0.1%

Return for Risk

DYNF vs. TCAF — Risk / Return Rank

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

DYNF

DYNF Risk / Return Rank: 73
DYNF Sharpe Ratio Rank: 72
DYNF Sortino Ratio Rank: 70
DYNF Omega Ratio Rank: 69
DYNF Calmar Ratio Rank: 70
DYNF Martin Ratio Rank: 83

TCAF

TCAF Risk / Return Rank: 47
TCAF Sharpe Ratio Rank: 53
TCAF Sortino Ratio Rank: 50
TCAF Omega Ratio Rank: 52
TCAF Calmar Ratio Rank: 37
TCAF Martin Ratio Rank: 45

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.

DYNF vs. TCAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Equity Factor Rotation Active ETF (DYNF) 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.

	DYNF	TCAF	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.44	+0.39
Sortino ratio: Return per unit of downside risk	2.52	1.99	+0.53
Omega ratio: Gain probability vs. loss probability	1.33	1.26	+0.07
Calmar ratio: Return relative to maximum drawdown	2.83	1.52	+1.31
Martin ratio: Return relative to average drawdown	13.08	5.95	+7.13

DYNF vs. TCAF - Sharpe Ratio Comparison

The current DYNF Sharpe Ratio is 1.83, which is comparable to the TCAF Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of DYNF 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

DYNF vs. TCAF - Drawdown Comparison

The maximum DYNF drawdown since its inception was -34.72%, which is greater than TCAF's maximum drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for DYNF and TCAF.

Drawdown Indicators

	DYNF	TCAF	Difference
Max Drawdown Largest peak-to-trough decline	-34.72%	-16.37%	-18.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-11.33%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	-16.37%	-2.33%
Max Drawdown (5Y) Largest decline over 5 years	-28.65%	—	—
Current Drawdown Current decline from peak	-0.79%	-0.76%	-0.03%
Average Drawdown Average peak-to-trough decline	-5.91%	-2.04%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.89%	-1.02%

Volatility

DYNF vs. TCAF - Volatility Comparison

iShares U.S. Equity Factor Rotation Active ETF (DYNF) has a higher volatility of 4.82% compared to T. Rowe Price Capital Appreciation Equity ETF (TCAF) at 3.41%. This indicates that DYNF's price experiences larger fluctuations and is considered to be riskier than TCAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DYNF	TCAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	3.41%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	9.45%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	12.01%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	13.94%	+3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.88%	13.94%	+5.94%

DYNF vs. TCAF - Expense Ratio Comparison

DYNF has a 0.26% expense ratio, which is lower than TCAF's 0.31% expense ratio.

Dividends

DYNF vs. TCAF - Dividend Comparison

DYNF's dividend yield for the trailing twelve months is around 0.80%, more than TCAF's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DYNF iShares U.S. Equity Factor Rotation Active ETF	0.80%	1.01%	0.65%	1.11%	1.66%	2.89%	1.52%	1.22%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.46%	0.50%	0.43%	0.26%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DYNF and TCAF in my portfolio?

DYNF and TCAF have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DYNF or TCAF?

DYNF has higher volatility (4.82%) compared to TCAF (3.41%). In terms of maximum drawdown, DYNF dropped -34.72% vs TCAF's -16.37%.

Which ETF is better, DYNF or TCAF?

On 3-year performance, DYNF leads with 23.81% vs 17.73% for TCAF. On fees, DYNF is cheaper at 0.26% per year. On volatility, TCAF has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DYNF or TCAF?

Over the 3-year period, DYNF has performed better with a 23.81% return vs 17.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DYNF or TCAF?

DYNF is cheaper with a 0.26% expense ratio, compared with 0.31% for TCAF.

Which ETF pays a higher dividend yield, DYNF or TCAF?

DYNF has the higher dividend yield at 0.80%, compared with 0.46% for TCAF.

What is the main difference between DYNF and TCAF?

They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.26% for DYNF and 0.31% for TCAF.

Which has better risk-adjusted returns?

DYNF currently has the higher Sharpe Ratio (1.83 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.