TCAL vs. AIFD

Last updated Jul 12, 2026

TCAL (T. Rowe Price Capital Appreciation Premium Income ETF) and AIFD (TCW Artificial Intelligence ETF) are both exchange-traded funds - TCAL is a Derivative Income fund actively managed by T. Rowe Price, while AIFD is a Technology Equities fund actively managed by TCW. Both are actively managed. Over the past year, TCAL returned 3.56% vs 72.57% for AIFD. At a correlation of -0.01, they often move in opposite directions. TCAL charges 0.34%/yr vs 0.75%/yr for AIFD.

Performance

TCAL vs. AIFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) and TCW Artificial Intelligence ETF (AIFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCAL achieves a 2.86% return, which is significantly lower than AIFD's 40.47% return.

TCAL

• 1D: 0.57%
• 1M: 4.06%
• 6M: 1.48%
• YTD: 2.86%
• 1Y: 3.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIFD

• 1D: -0.55%
• 1M: -1.03%
• 6M: 38.12%
• YTD: 40.47%
• 1Y: 72.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TCAL vs. AIFD - Yearly Performance Comparison

	2026 (YTD)	2025
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	2.86%	1.89%
AIFD TCW Artificial Intelligence ETF	40.47%	48.84%

Correlation

The correlation between TCAL and AIFD 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	-0.01

TCAL vs. AIFD - Sectors Allocation Comparison

Sectors	TCAL	AIFD
Healthcare	21.9%	-
Industrials	20.6%	9.8%
Financial Services	13.5%	-
Technology	11.6%	73.2%
Utilities	10.0%	-
Consumer Defensive	9.5%	-
Consumer Cyclical	8.2%	6.0%
Communication Services	2.9%	11.0%
Real Estate	2.2%	-
Basic Materials	1.7%	-
Energy	1.2%	-

Return for Risk

TCAL vs. AIFD — Risk / Return Rank

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

TCAL

TCAL Risk / Return Rank: 15
TCAL Sharpe Ratio Rank: 15
TCAL Sortino Ratio Rank: 14
TCAL Omega Ratio Rank: 13
TCAL Calmar Ratio Rank: 16
TCAL Martin Ratio Rank: 16

AIFD

AIFD Risk / Return Rank: 90
AIFD Sharpe Ratio Rank: 92
AIFD Sortino Ratio Rank: 84
AIFD Omega Ratio Rank: 84
AIFD Calmar Ratio Rank: 95
AIFD Martin Ratio Rank: 94

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.

TCAL vs. AIFD - 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 TCW Artificial Intelligence ETF (AIFD). 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	AIFD	Difference
Sharpe ratio: Return per unit of total volatility	0.32	2.54	-2.21
Sortino ratio: Return per unit of downside risk	0.53	2.98	-2.46
Omega ratio: Gain probability vs. loss probability	1.06	1.40	-0.34
Calmar ratio: Return relative to maximum drawdown	0.45	6.20	-5.75
Martin ratio: Return relative to average drawdown	1.07	19.98	-18.91

TCAL vs. AIFD - Sharpe Ratio Comparison

The current TCAL Sharpe Ratio is 0.32, which is lower than the AIFD Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of TCAL and AIFD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TCAL vs. AIFD - Drawdown Comparison

The maximum TCAL drawdown since its inception was -7.24%, smaller than the maximum AIFD drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for TCAL and AIFD.

Drawdown Indicators

	TCAL	AIFD	Difference
Max Drawdown Largest peak-to-trough decline	-7.24%	-33.20%	+25.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.00%	-11.75%	+4.75%
Current Drawdown Current decline from peak	-0.36%	-7.86%	+7.50%
Average Drawdown Average peak-to-trough decline	-2.11%	-5.78%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.64%	-0.73%

Volatility

TCAL vs. AIFD - Volatility Comparison

The current volatility for T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is 2.89%, while TCW Artificial Intelligence ETF (AIFD) has a volatility of 12.47%. This indicates that TCAL experiences smaller price fluctuations and is considered to be less risky than AIFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCAL	AIFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	12.47%	-9.58%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	23.54%	-16.57%
Volatility (1Y) Calculated over the trailing 1-year period	9.63%	28.76%	-19.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	30.24%	-19.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	30.24%	-19.05%

TCAL vs. AIFD - Expense Ratio Comparison

TCAL has a 0.34% expense ratio, which is lower than AIFD's 0.75% expense ratio.

Dividends

TCAL vs. AIFD - Dividend Comparison

TCAL's dividend yield for the trailing twelve months is around 12.10%, while AIFD has not paid dividends to shareholders.

Position	TTM	2025
AIFD TCW Artificial Intelligence ETF	0.00%	0.00%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	12.10%	8.34%

Frequently Asked Questions

Can I hold both TCAL and AIFD in my portfolio?

TCAL and AIFD 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.

Which is riskier, TCAL or AIFD?

AIFD has higher volatility (12.47%) compared to TCAL (2.89%). In terms of maximum drawdown, TCAL dropped -7.24% vs AIFD's -33.20%.

Which ETF is better, TCAL or AIFD?

On 1-year performance, AIFD leads with 72.57% vs 3.56% for TCAL. On fees, TCAL is cheaper at 0.34% per year. On volatility, TCAL has been the lower-risk option at 2.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCAL or AIFD?

Over the 1-year period, AIFD has performed better with a 72.57% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCAL or AIFD?

TCAL is cheaper with a 0.34% expense ratio, compared with 0.75% for AIFD.

Which ETF pays a higher dividend yield, TCAL or AIFD?

TCAL has the higher dividend yield at 12.10%, compared with 0.00% for AIFD.

What is the main difference between TCAL and AIFD?

TCAL is categorized as Derivative Income, while AIFD is Technology Equities. They also come from different issuers: T. Rowe Price and TCW. Their fees differ too: 0.34% for TCAL and 0.75% for AIFD.

Which has better risk-adjusted returns?

AIFD currently has the higher Sharpe Ratio (2.54 vs 0.32), 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.