FLCE vs. TDVG

Last updated Aug 1, 2026

FLCE (Frontier Asset U.S. Large Cap Equity ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, FLCE returned 18.99% vs 19.23% for TDVG. Their correlation of 0.84 means they have usually moved in the same direction. FLCE charges 0.90%/yr vs 0.50%/yr for TDVG.

Performance

FLCE vs. TDVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset U.S. Large Cap Equity ETF (FLCE) and T. Rowe Price Dividend Growth ETF (TDVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCE achieves a 8.98% return, which is significantly lower than TDVG's 10.93% return.

FLCE

• 1D: 0.76%
• 1M: 0.40%
• 6M: 7.64%
• YTD: 8.98%
• 1Y: 18.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.85%

TDVG

• 1D: -0.24%
• 1M: 0.47%
• 6M: 9.09%
• YTD: 10.93%
• 1Y: 19.23%
• 3Y*: 14.55%
• 5Y*: 10.00%
• 10Y*: —
• ALL TIME*: 13.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCE Frontier Asset U.S. Large Cap Equity ETF	$105.93K	$126.48K	$234.04K
TDVG T. Rowe Price Dividend Growth ETF	$2.11M	$3.07M	$2.63M

FLCE vs. TDVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLCE Frontier Asset U.S. Large Cap Equity ETF	8.98%	14.45%	-1.21%
TDVG T. Rowe Price Dividend Growth ETF	10.93%	14.80%	0.49%

Correlation

The correlation between FLCE and TDVG is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.84

The correlation between FLCE and TDVG has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

FLCE vs. TDVG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLCE

FLCE Risk / Return Rank: 60
FLCE Sharpe Ratio Rank: 60
FLCE Sortino Ratio Rank: 60
FLCE Omega Ratio Rank: 58
FLCE Calmar Ratio Rank: 54
FLCE Martin Ratio Rank: 68

TDVG

TDVG Risk / Return Rank: 80
TDVG Sharpe Ratio Rank: 82
TDVG Sortino Ratio Rank: 83
TDVG Omega Ratio Rank: 80
TDVG Calmar Ratio Rank: 73
TDVG Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLCE vs. TDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset U.S. Large Cap Equity ETF (FLCE) and T. Rowe Price Dividend Growth ETF (TDVG). 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.

	FLCE	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.87	-0.44
Sortino ratio: Return per unit of downside risk	2.04	2.69	-0.65
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	1.96	2.51	-0.55
Martin ratio: Return relative to average drawdown	8.43	10.48	-2.04

FLCE vs. TDVG - Sharpe Ratio Comparison

The current FLCE Sharpe Ratio is 1.43, which is comparable to the TDVG Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FLCE and TDVG, 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

FLCE vs. TDVG - Drawdown Comparison

The maximum FLCE drawdown since its inception was -17.52%, smaller than the maximum TDVG drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for FLCE and TDVG.

Drawdown Indicators

	FLCE	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-17.52%	-19.20%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-7.24%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Current Drawdown Current decline from peak	-0.81%	-0.92%	+0.11%
Average Drawdown Average peak-to-trough decline	-2.32%	-3.67%	+1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.73%	+0.34%

Volatility

FLCE vs. TDVG - Volatility Comparison

Frontier Asset U.S. Large Cap Equity ETF (FLCE) has a higher volatility of 3.38% compared to T. Rowe Price Dividend Growth ETF (TDVG) at 2.20%. This indicates that FLCE's price experiences larger fluctuations and is considered to be riskier than TDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCE	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	2.20%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.60%	7.30%	+2.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.21%	9.74%	+2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	13.87%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	13.81%	+2.02%

FLCE vs. TDVG - Expense Ratio Comparison

FLCE has a 0.90% expense ratio, which is higher than TDVG's 0.50% expense ratio.

Dividends

FLCE vs. TDVG - Dividend Comparison

FLCE's dividend yield for the trailing twelve months is around 0.31%, less than TDVG's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLCE Frontier Asset U.S. Large Cap Equity ETF	0.31%	0.32%	0.01%	0.00%	0.00%	0.00%	0.00%
TDVG T. Rowe Price Dividend Growth ETF	0.96%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%

Frequently Asked Questions

Can I hold both FLCE and TDVG in my portfolio?

FLCE and TDVG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCE or TDVG?

FLCE has higher volatility (3.38%) compared to TDVG (2.20%). In terms of maximum drawdown, FLCE dropped -17.52% vs TDVG's -19.20%.

Which ETF is better, FLCE or TDVG?

On 1-year performance, TDVG leads with 19.23% vs 18.99% for FLCE. On fees, TDVG is cheaper at 0.50% per year. On volatility, TDVG has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCE or TDVG?

Over the 1-year period, TDVG has performed better with a 19.23% return vs 18.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCE or TDVG?

TDVG is cheaper with a 0.50% expense ratio, compared with 0.90% for FLCE.

Which ETF pays a higher dividend yield, FLCE or TDVG?

TDVG has the higher dividend yield at 0.96%, compared with 0.31% for FLCE.

What is the main difference between FLCE and TDVG?

They also come from different issuers: Frontier and T. Rowe Price. Their fees differ too: 0.90% for FLCE and 0.50% for TDVG.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.87 vs 1.43), 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.