RPIDX vs. TCAF
RPIDX (T. Rowe Price Dynamic Credit Fund) and TCAF (T. Rowe Price Capital Appreciation Equity ETF) are both funds - RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price, while TCAF is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past year, RPIDX returned 7.02% vs 16.10% for TCAF. At a 0.07 correlation, their price movements are largely independent. RPIDX charges 0.63%/yr vs 0.31%/yr for TCAF.
Performance
RPIDX vs. TCAF - Performance Comparison
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Returns By Period
In the year-to-date period, RPIDX achieves a 0.28% return, which is significantly lower than TCAF's 4.37% return.
RPIDX
- 1D
- -0.12%
- 1M
- -0.28%
- YTD
- 0.28%
- 6M
- 1.67%
- 1Y
- 7.02%
- 3Y*
- 7.95%
- 5Y*
- 4.46%
- 10Y*
- —
TCAF
- 1D
- 0.18%
- 1M
- -0.77%
- YTD
- 4.37%
- 6M
- 5.06%
- 1Y
- 16.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RPIDX vs. TCAF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RPIDX T. Rowe Price Dynamic Credit Fund | 0.28% | 9.74% | 9.92% | 4.46% |
TCAF T. Rowe Price Capital Appreciation Equity ETF | 4.37% | 15.45% | 20.93% | 9.71% |
Correlation
The correlation between RPIDX and TCAF is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023 | 0.07 |
The correlation between RPIDX and TCAF shifts across timeframes, from -0.05 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RPIDX vs. TCAF — Risk / Return Rank
RPIDX
TCAF
RPIDX vs. TCAF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPIDX) 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.
| RPIDX | TCAF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.25 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 5.16 | 1.43 | +3.73 |
| Martin ratioReturn relative to average drawdown | 13.35 | 5.64 | +7.70 |
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Drawdowns
RPIDX vs. TCAF - Drawdown Comparison
The maximum RPIDX drawdown since its inception was -19.95%, which is greater than TCAF's maximum drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for RPIDX and TCAF.
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Drawdown Indicators
| RPIDX | TCAF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.95% | -16.37% | -3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.34% | -11.33% | +9.99% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | — | — |
Current DrawdownCurrent decline from peak | -0.74% | -2.97% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -2.07% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.86% | -2.34% |
Volatility
RPIDX vs. TCAF - Volatility Comparison
The current volatility for T. Rowe Price Dynamic Credit Fund (RPIDX) is 0.70%, while T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a volatility of 3.60%. This indicates that RPIDX 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.
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Volatility by Period
| RPIDX | TCAF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 3.60% | -2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 9.20% | -6.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 11.77% | -8.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.83% | 13.98% | -10.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 13.98% | -9.19% |
RPIDX vs. TCAF - Expense Ratio Comparison
RPIDX has a 0.63% expense ratio, which is higher than TCAF's 0.31% expense ratio.
Dividends
RPIDX vs. TCAF - Dividend Comparison
RPIDX's dividend yield for the trailing twelve months is around 9.92%, more than TCAF's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RPIDX T. Rowe Price Dynamic Credit Fund | 9.92% | 9.91% | 9.20% | 6.64% | 7.97% | 5.34% | 7.14% | 4.41% |
TCAF T. Rowe Price Capital Appreciation Equity ETF | 0.48% | 0.50% | 0.43% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RPIDX and TCAF have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCAF has higher volatility (3.60%) compared to RPIDX (0.70%). In terms of maximum drawdown, RPIDX dropped -19.95% vs TCAF's -16.37%.
RPIDX currently has the higher Sharpe Ratio (2.08 vs 1.37), 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.
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