TCAF vs. GXLC

Last updated Jun 24, 2026

TCAF (T. Rowe Price Capital Appreciation Equity ETF) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds. TCAF is actively managed, while GXLC is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. TCAF charges 0.31%/yr vs 0.02%/yr for GXLC.

Performance

TCAF vs. GXLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation Equity ETF (TCAF) and Global X U.S. 500 ETF (GXLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCAF achieves a 4.55% return, which is significantly lower than GXLC's 8.31% return.

TCAF

• 1D: -0.79%
• 1M: -1.19%
• YTD: 4.55%
• 6M: 4.09%
• 1Y: 17.22%
• 3Y*: 17.42%
• 5Y*: —
• 10Y*: —

GXLC

• 1D: -1.32%
• 1M: -1.12%
• YTD: 8.31%
• 6M: 7.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TCAF vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
TCAF T. Rowe Price Capital Appreciation Equity ETF	4.55%	2.62%
GXLC Global X U.S. 500 ETF	8.31%	3.22%

Correlation

The correlation between TCAF and GXLC is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.93

Return for Risk

TCAF vs. GXLC — Risk / Return Rank

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

TCAF

TCAF Risk / Return Rank: 39
TCAF Sharpe Ratio Rank: 43
TCAF Sortino Ratio Rank: 41
TCAF Omega Ratio Rank: 42
TCAF Calmar Ratio Rank: 31
TCAF Martin Ratio Rank: 39

GXLC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TCAF vs. GXLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Equity ETF (TCAF) and Global X U.S. 500 ETF (GXLC). 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.

	TCAF	GXLC	Difference
Sharpe ratio: Return per unit of total volatility	1.44	—	—
Sortino ratio: Return per unit of downside risk	2.00	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.53	—	—
Martin ratio: Return relative to average drawdown	6.00	—	—

Drawdowns

TCAF vs. GXLC - Drawdown Comparison

The maximum TCAF drawdown since its inception was -16.37%, which is greater than GXLC's maximum drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for TCAF and GXLC.

Drawdown Indicators

	TCAF	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-16.37%	-9.08%	-7.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	—	—
Current Drawdown Current decline from peak	-2.80%	-3.05%	+0.25%
Average Drawdown Average peak-to-trough decline	-2.07%	-1.54%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	—	—

Volatility

Volatility by Period

	TCAF	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	13.85%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	13.85%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	13.85%	+0.17%

TCAF vs. GXLC - Expense Ratio Comparison

TCAF has a 0.31% expense ratio, which is higher than GXLC's 0.02% expense ratio.

Dividends

TCAF vs. GXLC - Dividend Comparison

TCAF's dividend yield for the trailing twelve months is around 0.48%, less than GXLC's 0.65% yield.

Position	TTM	2025	2024	2023
GXLC Global X U.S. 500 ETF	0.65%	0.30%	0.00%	0.00%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.48%	0.50%	0.43%	0.26%

Frequently Asked Questions

Can I hold both TCAF and GXLC in my portfolio?

With a correlation of 0.93, TCAF and GXLC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TCAF or GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TCAF or GXLC?

GXLC is cheaper with a 0.02% expense ratio, compared with 0.31% for TCAF.

Which ETF pays a higher dividend yield, TCAF or GXLC?

GXLC has the higher dividend yield at 0.65%, compared with 0.48% for TCAF.

What is the main difference between TCAF and GXLC?

They also come from different issuers: T. Rowe Price and Global X. Their fees differ too: 0.31% for TCAF and 0.02% for GXLC.