TCAF vs. GXLC

Last updated Aug 4, 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 0.92 means they have usually moved in the same direction. 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 10.23% return, which is significantly lower than GXLC's 11.54% return.

TCAF

• 1D: 1.54%
• 1M: 1.74%
• 6M: 10.14%
• YTD: 10.23%
• 1Y: 17.81%
• 3Y*: 18.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.19%

GXLC

• 1D: 1.34%
• 1M: 1.54%
• 6M: 9.67%
• YTD: 11.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
GXLC Global X U.S. 500 ETF	$25.69K	$21.89K	$18.29K
TCAF T. Rowe Price Capital Appreciation Equity ETF	$20.52M	$22.08M	$27.72M

TCAF vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
TCAF T. Rowe Price Capital Appreciation Equity ETF	10.23%	2.62%
GXLC Global X U.S. 500 ETF	11.54%	3.22%

Correlation

The correlation between TCAF and GXLC is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.92

Return for Risk

TCAF vs. GXLC — Risk / Return Rank

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

TCAF

TCAF Risk / Return Rank: 55
TCAF Sharpe Ratio Rank: 61
TCAF Sortino Ratio Rank: 59
TCAF Omega Ratio Rank: 59
TCAF Calmar Ratio Rank: 44
TCAF Martin Ratio Rank: 51

GXLC

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

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.

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	1.47	—	—
Sortino ratio: Return per unit of downside risk	2.06	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.58	—	—
Martin ratio: Return relative to average drawdown	6.11	—	—

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	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-2.03%	-1.57%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	—	—

Volatility

Volatility by Period

	TCAF	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.21%	13.64%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	13.64%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.92%	13.64%	+0.28%

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 0.45%, less than GXLC's 0.63% yield.

Position	TTM	2025	2024	2023
GXLC Global X U.S. 500 ETF	0.63%	0.30%	0.00%	0.00%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.45%	0.50%	0.43%	0.26%

Frequently Asked Questions

Can I hold both TCAF and GXLC in my portfolio?

With a correlation of 0.92, 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 0.63%, compared with 0.45% 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.