TAGG vs. TDVG

Last updated Jun 4, 2026

TAGG (T. Rowe Price QM U.S. Bond ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both exchange-traded funds - TAGG is a Intermediate Core Bond fund actively managed by T. Rowe Price, while TDVG is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Both are actively managed. Over the past 3 years, TAGG returned 4.26%/yr vs 15.99%/yr for TDVG. At a 0.17 correlation, their price movements are largely independent. TAGG charges 0.08%/yr vs 0.50%/yr for TDVG.

Performance

TAGG vs. TDVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price QM U.S. Bond ETF (TAGG) 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, TAGG achieves a 0.18% return, which is significantly lower than TDVG's 8.08% return.

TAGG

• 1D: -0.17%
• 1M: 0.18%
• YTD: 0.18%
• 6M: 0.16%
• 1Y: 5.22%
• 3Y*: 4.26%
• 5Y*: —
• 10Y*: —

TDVG

• 1D: 0.56%
• 1M: 3.09%
• YTD: 8.08%
• 6M: 8.34%
• 1Y: 17.85%
• 3Y*: 15.99%
• 5Y*: 10.15%
• 10Y*: —

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

TAGG vs. TDVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TAGG T. Rowe Price QM U.S. Bond ETF	0.18%	7.40%	1.73%	5.72%	-12.63%	0.01%
TDVG T. Rowe Price Dividend Growth ETF	8.08%	14.80%	13.45%	13.95%	-10.15%	9.91%

Correlation

The correlation between TAGG and TDVG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.17

The correlation between TAGG and TDVG shifts across timeframes, from 0.17 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

TAGG vs. TDVG - Sectors Allocation Comparison

Sectors	TAGG	TDVG
Technology	52.7%	24.1%
Communication Services	15.2%	1.2%
Consumer Cyclical	14.3%	7.7%
Consumer Defensive	5.5%	7.1%
Healthcare	5.0%	12.9%
Industrials	3.5%	13.6%
Basic Materials	1.3%	2.9%
Utilities	1.3%	3.9%
Energy	0.6%	5.8%
Financial Services	0.6%	19.5%
Real Estate	0.2%	1.6%

Return for Risk

TAGG vs. TDVG — Risk / Return Rank

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

TAGG

TAGG Risk / Return Rank: 36
TAGG Sharpe Ratio Rank: 39
TAGG Sortino Ratio Rank: 40
TAGG Omega Ratio Rank: 38
TAGG Calmar Ratio Rank: 33
TAGG Martin Ratio Rank: 32

TDVG

TDVG Risk / Return Rank: 55
TDVG Sharpe Ratio Rank: 55
TDVG Sortino Ratio Rank: 57
TDVG Omega Ratio Rank: 55
TDVG Calmar Ratio Rank: 51
TDVG Martin Ratio Rank: 58

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.

TAGG vs. TDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond ETF (TAGG) 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.

	TAGG	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.85	-0.49
Sortino ratio: Return per unit of downside risk	2.04	2.66	-0.62
Omega ratio: Gain probability vs. loss probability	1.25	1.33	-0.08
Calmar ratio: Return relative to maximum drawdown	1.64	2.48	-0.84
Martin ratio: Return relative to average drawdown	4.86	10.15	-5.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAGG vs. TDVG - Sharpe Ratio Comparison

The current TAGG Sharpe Ratio is 1.37, which is comparable to the TDVG Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of TAGG 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.

Sharpe Ratios by Period

	TAGG	TDVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.85	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.95	-0.91

Drawdowns

TAGG vs. TDVG - Drawdown Comparison

The maximum TAGG drawdown since its inception was -17.26%, smaller than the maximum TDVG drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for TAGG and TDVG.

Drawdown Indicators

	TAGG	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-17.26%	-19.20%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-7.24%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	-14.02%	+7.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Current Drawdown Current decline from peak	-2.03%	0.00%	-2.03%
Average Drawdown Average peak-to-trough decline	-6.87%	-3.75%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.76%	-0.68%

Volatility

TAGG vs. TDVG - Volatility Comparison

The current volatility for T. Rowe Price QM U.S. Bond ETF (TAGG) is 1.19%, while T. Rowe Price Dividend Growth ETF (TDVG) has a volatility of 2.12%. This indicates that TAGG experiences smaller price fluctuations and is considered to be less risky than TDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAGG	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	2.12%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	7.46%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	9.67%	-5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	13.91%	-7.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	13.93%	-7.40%

TAGG vs. TDVG - Expense Ratio Comparison

TAGG has a 0.08% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

TAGG vs. TDVG - Dividend Comparison

TAGG's dividend yield for the trailing twelve months is around 4.58%, more than TDVG's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TAGG T. Rowe Price QM U.S. Bond ETF	4.58%	4.36%	4.36%	3.48%	3.67%	0.33%	0.00%
TDVG T. Rowe Price Dividend Growth ETF	0.98%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%

Frequently Asked Questions

Can I hold both TAGG and TDVG in my portfolio?

TAGG and TDVG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAGG or TDVG?

TDVG has higher volatility (2.12%) compared to TAGG (1.19%). In terms of maximum drawdown, TAGG dropped -17.26% vs TDVG's -19.20%.

Which ETF is better, TAGG or TDVG?

On 3-year performance, TDVG leads with 15.99% vs 4.26% for TAGG. On fees, TAGG is cheaper at 0.08% per year. On volatility, TAGG has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAGG or TDVG?

Over the 3-year period, TDVG has performed better with a 15.99% return vs 4.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAGG or TDVG?

TAGG is cheaper with a 0.08% expense ratio, compared with 0.50% for TDVG.

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

TAGG has the higher dividend yield at 4.58%, compared with 0.98% for TDVG.

What is the main difference between TAGG and TDVG?

TAGG is categorized as Intermediate Core Bond, while TDVG is Large Cap Growth Equities. Their fees differ too: 0.08% for TAGG and 0.50% for TDVG.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.85 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.