RAFE vs. TDVG

Last updated Aug 2, 2026

RAFE (PIMCO RAFI ESG U.S. ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Blend Equities funds. RAFE is passively managed, while TDVG is actively managed. Over the past 5 years, RAFE returned 11.54%/yr vs 10.00%/yr for TDVG. Their correlation of 0.91 means they have usually moved in the same direction. RAFE charges 0.30%/yr vs 0.50%/yr for TDVG.

Performance

RAFE vs. TDVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI ESG U.S. ETF (RAFE) 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, RAFE achieves a 16.68% return, which is significantly higher than TDVG's 10.93% return.

RAFE

• 1D: -0.31%
• 1M: 1.12%
• 6M: 14.64%
• YTD: 16.68%
• 1Y: 31.75%
• 3Y*: 18.09%
• 5Y*: 11.54%
• 10Y*: —
• ALL TIME*: 12.67%

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)
RAFE PIMCO RAFI ESG U.S. ETF	$564.44K	$467.39K	$607.84K
TDVG T. Rowe Price Dividend Growth ETF	$2.11M	$3.07M	$2.63M

RAFE vs. TDVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RAFE PIMCO RAFI ESG U.S. ETF	16.68%	17.60%	13.81%	18.80%	-13.76%	30.16%	18.29%
TDVG T. Rowe Price Dividend Growth ETF	10.93%	14.80%	13.45%	13.95%	-10.15%	26.20%	12.97%

Correlation

The correlation between RAFE and TDVG is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020	0.91

The correlation between RAFE and TDVG has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

RAFE vs. TDVG — Risk / Return Rank

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

RAFE

RAFE Risk / Return Rank: 93
RAFE Sharpe Ratio Rank: 94
RAFE Sortino Ratio Rank: 94
RAFE Omega Ratio Rank: 93
RAFE Calmar Ratio Rank: 91
RAFE Martin Ratio Rank: 92

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.

RAFE vs. TDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI ESG U.S. ETF (RAFE) 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.

	RAFE	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	2.67	1.87	+0.80
Sortino ratio: Return per unit of downside risk	3.70	2.69	+1.02
Omega ratio: Gain probability vs. loss probability	1.48	1.34	+0.14
Calmar ratio: Return relative to maximum drawdown	4.09	2.51	+1.57
Martin ratio: Return relative to average drawdown	16.26	10.48	+5.78

RAFE vs. TDVG - Sharpe Ratio Comparison

The current RAFE Sharpe Ratio is 2.67, which is higher than the TDVG Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of RAFE 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

RAFE vs. TDVG - Drawdown Comparison

The maximum RAFE drawdown since its inception was -35.74%, which is greater than TDVG's maximum drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for RAFE and TDVG.

Drawdown Indicators

	RAFE	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-35.74%	-19.20%	-16.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.46%	-7.24%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-16.36%	-14.02%	-2.34%
Max Drawdown (5Y) Largest decline over 5 years	-24.28%	-19.20%	-5.08%
Current Drawdown Current decline from peak	-0.96%	-0.92%	-0.04%
Average Drawdown Average peak-to-trough decline	-6.08%	-3.67%	-2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.73%	+0.14%

Volatility

RAFE vs. TDVG - Volatility Comparison

PIMCO RAFI ESG U.S. ETF (RAFE) has a higher volatility of 3.01% compared to T. Rowe Price Dividend Growth ETF (TDVG) at 2.20%. This indicates that RAFE'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

	RAFE	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	2.20%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	7.30%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.48%	9.74%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	13.87%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	13.81%	+5.46%

RAFE vs. TDVG - Expense Ratio Comparison

RAFE has a 0.30% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

RAFE vs. TDVG - Dividend Comparison

RAFE's dividend yield for the trailing twelve months is around 1.48%, more than TDVG's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
RAFE PIMCO RAFI ESG U.S. ETF	1.48%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%
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 RAFE and TDVG in my portfolio?

RAFE and TDVG have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAFE or TDVG?

RAFE has higher volatility (3.01%) compared to TDVG (2.20%). In terms of maximum drawdown, RAFE dropped -35.74% vs TDVG's -19.20%.

Which ETF is better, RAFE or TDVG?

On 5-year performance, RAFE leads with 11.54% vs 10.00% for TDVG. On fees, RAFE is cheaper at 0.30% 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, RAFE or TDVG?

Over the 5-year period, RAFE has performed better with a 11.54% return vs 10.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAFE or TDVG?

RAFE is cheaper with a 0.30% expense ratio, compared with 0.50% for TDVG.

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

RAFE has the higher dividend yield at 1.48%, compared with 0.96% for TDVG.

What is the main difference between RAFE and TDVG?

They also come from different issuers: PIMCO and T. Rowe Price. Their fees differ too: 0.30% for RAFE and 0.50% for TDVG.

Which has better risk-adjusted returns?

RAFE currently has the higher Sharpe Ratio (2.67 vs 1.87), 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.