TCAF vs. PRCHX
TCAF (T. Rowe Price Capital Appreciation Equity ETF) and PRCHX (T. Rowe Price Capital Appreciation and Income Fund Class I) are both funds - TCAF is a Large Cap Blend Equities fund actively managed by T. Rowe Price, while PRCHX is a Diversified Portfolio fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, TCAF returned 17.29% vs 12.13% for PRCHX. Their correlation of 0.88 suggests significant overlap in exposure. TCAF charges 0.31%/yr vs 0.49%/yr for PRCHX.
Performance
TCAF vs. PRCHX - Performance Comparison
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Returns By Period
In the year-to-date period, TCAF achieves a 4.37% return, which is significantly higher than PRCHX's 2.61% return.
TCAF
- 1D
- 0.18%
- 1M
- -0.18%
- YTD
- 4.37%
- 6M
- 5.06%
- 1Y
- 17.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRCHX
- 1D
- 0.68%
- 1M
- 0.06%
- YTD
- 2.61%
- 6M
- 3.48%
- 1Y
- 12.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TCAF vs. PRCHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TCAF T. Rowe Price Capital Appreciation Equity ETF | 4.37% | 15.45% | 20.93% | 4.89% |
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 2.61% | 13.68% | 8.92% | 3.12% |
Correlation
The correlation between TCAF and PRCHX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | 0.88 |
The correlation between TCAF and PRCHX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
TCAF vs. PRCHX — Risk / Return Rank
TCAF
PRCHX
TCAF vs. PRCHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Equity ETF (TCAF) and T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX). 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 | PRCHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.63 | -1.20 |
| Martin ratioReturn relative to average drawdown | 5.64 | 12.99 | -7.35 |
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Drawdowns
TCAF vs. PRCHX - Drawdown Comparison
The maximum TCAF drawdown since its inception was -16.37%, which is greater than PRCHX's maximum drawdown of -6.10%. Use the drawdown chart below to compare losses from any high point for TCAF and PRCHX.
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Drawdown Indicators
| TCAF | PRCHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.37% | -6.10% | -10.27% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -4.50% | -6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -16.37% | — | — |
Current DrawdownCurrent decline from peak | -2.97% | -1.37% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -0.65% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 0.91% | +1.95% |
Volatility
TCAF vs. PRCHX - Volatility Comparison
T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a higher volatility of 3.60% compared to T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) at 2.18%. This indicates that TCAF's price experiences larger fluctuations and is considered to be riskier than PRCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCAF | PRCHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 2.18% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 4.44% | +4.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.77% | 5.46% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.98% | 6.56% | +7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.98% | 6.56% | +7.42% |
TCAF vs. PRCHX - Expense Ratio Comparison
TCAF has a 0.31% expense ratio, which is lower than PRCHX's 0.49% expense ratio.
Dividends
TCAF vs. PRCHX - Dividend Comparison
TCAF's dividend yield for the trailing twelve months is around 0.48%, less than PRCHX's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 5.20% | 5.08% | 3.22% | 0.27% |
TCAF T. Rowe Price Capital Appreciation Equity ETF | 0.48% | 0.50% | 0.43% | 0.26% |
Frequently Asked Questions
With a correlation of 0.92, TCAF and PRCHX 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.
TCAF has higher volatility (3.60%) compared to PRCHX (2.18%). In terms of maximum drawdown, TCAF dropped -16.37% vs PRCHX's -6.10%.
PRCHX currently has the higher Sharpe Ratio (2.16 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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