QUSA vs. TCAL

Last updated Jun 26, 2026

QUSA (VistaShares Target 15™ USA Quality Income ETF) and TCAL (T. Rowe Price Capital Appreciation Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, QUSA returned 5.16% vs 0.81% for TCAL. At a 0.37 correlation, their price movements are largely independent. QUSA charges 0.95%/yr vs 0.34%/yr for TCAL.

Performance

QUSA vs. TCAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VistaShares Target 15™ USA Quality Income ETF (QUSA) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QUSA achieves a 8.82% return, which is significantly higher than TCAL's -1.33% return.

QUSA

• 1D: 0.66%
• 1M: -0.73%
• YTD: 8.82%
• 6M: 7.93%
• 1Y: 5.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAL

• 1D: -0.26%
• 1M: 0.23%
• YTD: -1.33%
• 6M: -2.28%
• 1Y: 0.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QUSA vs. TCAL - Yearly Performance Comparison

	2026 (YTD)	2025
QUSA VistaShares Target 15™ USA Quality Income ETF	8.82%	-3.27%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	-1.33%	2.19%

Correlation

The correlation between QUSA and TCAL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since May 6, 2025	0.37

QUSA vs. TCAL - Sectors Allocation Comparison

Sectors	QUSA	TCAL
Technology	37.9%	9.8%
Consumer Defensive	16.7%	11.1%
Financial Services	13.0%	14.0%
Communication Services	12.9%	1.7%
Industrials	9.8%	20.9%
Healthcare	9.6%	21.5%
Basic Materials	-	1.7%
Consumer Cyclical	-	8.1%
Energy	-	1.2%
Real Estate	-	2.2%
Utilities	-	10.1%

Return for Risk

QUSA vs. TCAL — Risk / Return Rank

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

QUSA

QUSA Risk / Return Rank: 15
QUSA Sharpe Ratio Rank: 17
QUSA Sortino Ratio Rank: 15
QUSA Omega Ratio Rank: 15
QUSA Calmar Ratio Rank: 15
QUSA Martin Ratio Rank: 15

TCAL

TCAL Risk / Return Rank: 10
TCAL Sharpe Ratio Rank: 10
TCAL Sortino Ratio Rank: 9
TCAL Omega Ratio Rank: 9
TCAL Calmar Ratio Rank: 10
TCAL Martin Ratio Rank: 10

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.

QUSA vs. TCAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VistaShares Target 15™ USA Quality Income ETF (QUSA) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). 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.

	QUSA	TCAL	Difference
Sharpe ratio: Return per unit of total volatility	0.48	0.09	+0.40
Sortino ratio: Return per unit of downside risk	0.77	0.19	+0.58
Omega ratio: Gain probability vs. loss probability	1.09	1.02	+0.07
Calmar ratio: Return relative to maximum drawdown	0.51	0.12	+0.40
Martin ratio: Return relative to average drawdown	1.22	0.28	+0.94

QUSA vs. TCAL - Sharpe Ratio Comparison

The current QUSA Sharpe Ratio is 0.48, which is higher than the TCAL Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of QUSA and TCAL, 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

QUSA vs. TCAL - Drawdown Comparison

The maximum QUSA drawdown since its inception was -10.64%, which is greater than TCAL's maximum drawdown of -7.24%. Use the drawdown chart below to compare losses from any high point for QUSA and TCAL.

Drawdown Indicators

	QUSA	TCAL	Difference
Max Drawdown Largest peak-to-trough decline	-10.64%	-7.24%	-3.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-7.00%	-3.12%
Current Drawdown Current decline from peak	-1.71%	-4.42%	+2.71%
Average Drawdown Average peak-to-trough decline	-3.70%	-2.14%	-1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	2.89%	+1.34%

Volatility

QUSA vs. TCAL - Volatility Comparison

VistaShares Target 15™ USA Quality Income ETF (QUSA) has a higher volatility of 3.81% compared to T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) at 3.06%. This indicates that QUSA's price experiences larger fluctuations and is considered to be riskier than TCAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUSA	TCAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	3.06%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	7.11%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.72%	9.54%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.64%	11.24%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.64%	11.24%	-0.60%

QUSA vs. TCAL - Expense Ratio Comparison

QUSA has a 0.95% expense ratio, which is higher than TCAL's 0.34% expense ratio.

Dividends

QUSA vs. TCAL - Dividend Comparison

QUSA's dividend yield for the trailing twelve months is around 12.59%, more than TCAL's 10.79% yield.

Position	TTM	2025
QUSA VistaShares Target 15™ USA Quality Income ETF	12.59%	6.61%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	10.79%	8.34%

Frequently Asked Questions

Can I hold both QUSA and TCAL in my portfolio?

QUSA and TCAL have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUSA or TCAL?

QUSA has higher volatility (3.81%) compared to TCAL (3.06%). In terms of maximum drawdown, QUSA dropped -10.64% vs TCAL's -7.24%.

Which ETF is better, QUSA or TCAL?

On 1-year performance, QUSA leads with 5.16% vs 0.81% for TCAL. On fees, TCAL is cheaper at 0.34% per year. On volatility, TCAL has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUSA or TCAL?

Over the 1-year period, QUSA has performed better with a 5.16% return vs 0.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUSA or TCAL?

TCAL is cheaper with a 0.34% expense ratio, compared with 0.95% for QUSA.

Which ETF pays a higher dividend yield, QUSA or TCAL?

QUSA has the higher dividend yield at 12.59%, compared with 10.79% for TCAL.

What is the main difference between QUSA and TCAL?

They also come from different issuers: VistaShares and T. Rowe Price. Their fees differ too: 0.95% for QUSA and 0.34% for TCAL.

Which has better risk-adjusted returns?

QUSA currently has the higher Sharpe Ratio (0.48 vs 0.09), 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.