TCAF vs. RPIDX
TCAF (T. Rowe Price Capital Appreciation Equity ETF) and RPIDX (T. Rowe Price Dynamic Credit Fund) are both funds - TCAF is a Large Cap Blend Equities fund actively managed by T. Rowe Price, while RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price. Over the past year, TCAF returned 16.10% vs 7.02% for RPIDX. At a 0.07 correlation, their price movements are largely independent. TCAF charges 0.31%/yr vs 0.63%/yr for RPIDX.
Performance
TCAF vs. RPIDX - 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 RPIDX's 0.28% return.
TCAF
- 1D
- 0.18%
- 1M
- -0.77%
- YTD
- 4.37%
- 6M
- 5.06%
- 1Y
- 16.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RPIDX
- 1D
- -0.12%
- 1M
- -0.28%
- YTD
- 0.28%
- 6M
- 1.67%
- 1Y
- 7.02%
- 3Y*
- 7.95%
- 5Y*
- 4.46%
- 10Y*
- —
TCAF vs. RPIDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TCAF T. Rowe Price Capital Appreciation Equity ETF | 4.37% | 15.45% | 20.93% | 9.71% |
RPIDX T. Rowe Price Dynamic Credit Fund | 0.28% | 9.74% | 9.92% | 4.46% |
Correlation
The correlation between TCAF and RPIDX 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 TCAF and RPIDX 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
TCAF vs. RPIDX — Risk / Return Rank
TCAF
RPIDX
TCAF vs. RPIDX - 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 Dynamic Credit Fund (RPIDX). 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 | RPIDX | 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 | 1.25 | 1.49 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 5.16 | -3.73 |
| Martin ratioReturn relative to average drawdown | 5.64 | 13.35 | -7.70 |
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Drawdowns
TCAF vs. RPIDX - Drawdown Comparison
The maximum TCAF drawdown since its inception was -16.37%, smaller than the maximum RPIDX drawdown of -19.95%. Use the drawdown chart below to compare losses from any high point for TCAF and RPIDX.
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Drawdown Indicators
| TCAF | RPIDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.37% | -19.95% | +3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -1.34% | -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 | -2.97% | -0.74% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -1.87% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 0.52% | +2.34% |
Volatility
TCAF vs. RPIDX - Volatility Comparison
T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a higher volatility of 3.60% compared to T. Rowe Price Dynamic Credit Fund (RPIDX) at 0.70%. This indicates that TCAF's price experiences larger fluctuations and is considered to be riskier than RPIDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCAF | RPIDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 0.70% | +2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 2.57% | +6.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.77% | 3.34% | +8.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.98% | 3.83% | +10.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.98% | 4.79% | +9.19% |
TCAF vs. RPIDX - Expense Ratio Comparison
TCAF has a 0.31% expense ratio, which is lower than RPIDX's 0.63% expense ratio.
Dividends
TCAF vs. RPIDX - Dividend Comparison
TCAF's dividend yield for the trailing twelve months is around 0.48%, less than RPIDX's 9.92% 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
TCAF and RPIDX 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, TCAF dropped -16.37% vs RPIDX's -19.95%.
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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