TCAL vs. AGZD
TCAL (T. Rowe Price Capital Appreciation Premium Income ETF) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - TCAL is a Derivative Income fund actively managed by T. Rowe Price, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. TCAL is actively managed, while AGZD is passively managed. Over the past year, TCAL returned -0.32% vs 5.50% for AGZD. At a correlation of -0.11, they often move in opposite directions. TCAL charges 0.34%/yr vs 0.23%/yr for AGZD.
Performance
TCAL vs. AGZD - Performance Comparison
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Returns By Period
In the year-to-date period, TCAL achieves a -2.66% return, which is significantly lower than AGZD's 2.35% return.
TCAL
- 1D
- -0.81%
- 1M
- -1.74%
- YTD
- -2.66%
- 6M
- -3.43%
- 1Y
- -0.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AGZD
- 1D
- 0.02%
- 1M
- 0.18%
- YTD
- 2.35%
- 6M
- 2.55%
- 1Y
- 5.50%
- 3Y*
- 5.81%
- 5Y*
- 4.33%
- 10Y*
- 3.27%
TCAL vs. AGZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TCAL T. Rowe Price Capital Appreciation Premium Income ETF | -2.66% | 1.89% |
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 2.35% | 3.95% |
Correlation
The correlation between TCAL and AGZD is -0.08, 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 | -0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.11 |
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Return for Risk
TCAL vs. AGZD — Risk / Return Rank
TCAL
AGZD
TCAL vs. AGZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.
| TCAL | AGZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 7.55 | -7.59 |
| Martin ratioReturn relative to average drawdown | -0.11 | 22.66 | -22.77 |
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Drawdowns
TCAL vs. AGZD - Drawdown Comparison
The maximum TCAL drawdown since its inception was -7.24%, smaller than the maximum AGZD drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for TCAL and AGZD.
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Drawdown Indicators
| TCAL | AGZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.24% | -8.46% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -0.73% | -6.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.46% | — |
Current DrawdownCurrent decline from peak | -5.71% | -0.49% | -5.22% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -0.77% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 0.24% | +2.61% |
Volatility
TCAL vs. AGZD - Volatility Comparison
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) has a higher volatility of 2.95% compared to WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) at 1.15%. This indicates that TCAL's price experiences larger fluctuations and is considered to be riskier than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCAL | AGZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 1.15% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 2.08% | +4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.50% | 2.84% | +6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.24% | 3.60% | +7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.24% | 3.72% | +7.52% |
TCAL vs. AGZD - Expense Ratio Comparison
TCAL has a 0.34% expense ratio, which is higher than AGZD's 0.23% expense ratio.
Dividends
TCAL vs. AGZD - Dividend Comparison
TCAL's dividend yield for the trailing twelve months is around 11.93%, more than AGZD's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 3.98% | 4.12% | 3.96% | 6.07% | 8.61% | 1.66% | 2.28% | 2.83% | 2.62% | 2.31% | 1.81% | 1.66% |
TCAL T. Rowe Price Capital Appreciation Premium Income ETF | 11.93% | 8.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TCAL and AGZD have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCAL has higher volatility (2.95%) compared to AGZD (1.15%). In terms of maximum drawdown, TCAL dropped -7.24% vs AGZD's -8.46%.
On 1-year performance, AGZD leads with 5.50% vs -0.32% for TCAL. On fees, AGZD is cheaper at 0.23% per year. On volatility, AGZD has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AGZD has performed better with a 5.50% return vs -0.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZD is cheaper with a 0.23% expense ratio, compared with 0.34% for TCAL.
TCAL has the higher dividend yield at 11.93%, compared with 3.98% for AGZD.
TCAL is categorized as Derivative Income, while AGZD is Nontraditional Bonds. They also come from different issuers: T. Rowe Price and WisdomTree. Their fees differ too: 0.34% for TCAL and 0.23% for AGZD.
AGZD currently has the higher Sharpe Ratio (1.95 vs -0.03), 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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