TEQI vs. VMAX

Last updated Jun 26, 2026

TEQI (T. Rowe Price Equity Income ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, TEQI returned 22.45% vs 29.83% for VMAX. Their correlation of 0.91 suggests significant overlap in exposure. TEQI charges 0.54%/yr vs 0.29%/yr for VMAX.

Performance

TEQI vs. VMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Equity Income ETF (TEQI) and Hartford US Value ETF (VMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEQI achieves a 12.37% return, which is significantly lower than VMAX's 15.89% return.

TEQI

• 1D: 0.88%
• 1M: 0.95%
• YTD: 12.37%
• 6M: 11.48%
• 1Y: 22.45%
• 3Y*: 16.50%
• 5Y*: 10.11%
• 10Y*: —

VMAX

• 1D: 0.74%
• 1M: 3.06%
• YTD: 15.89%
• 6M: 14.20%
• 1Y: 29.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEQI vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TEQI T. Rowe Price Equity Income ETF	12.37%	13.36%	13.14%	5.34%
VMAX Hartford US Value ETF	15.89%	15.65%	15.89%	5.71%

Correlation

The correlation between TEQI and VMAX is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.91

The correlation between TEQI and VMAX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

TEQI vs. VMAX - Sectors Allocation Comparison

Sectors	TEQI	VMAX
Financial Services	19.8%	32.4%
Technology	15.2%	13.3%
Healthcare	12.6%	11.1%
Industrials	12.1%	5.5%
Energy	10.2%	11.0%
Communication Services	7.0%	6.6%
Consumer Defensive	6.8%	3.7%
Utilities	6.2%	5.3%
Consumer Cyclical	5.2%	3.7%
Real Estate	3.3%	4.4%
Basic Materials	1.8%	2.8%

Return for Risk

TEQI vs. VMAX — Risk / Return Rank

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

TEQI

TEQI Risk / Return Rank: 73
TEQI Sharpe Ratio Rank: 75
TEQI Sortino Ratio Rank: 77
TEQI Omega Ratio Rank: 72
TEQI Calmar Ratio Rank: 70
TEQI Martin Ratio Rank: 69

VMAX

VMAX Risk / Return Rank: 88
VMAX Sharpe Ratio Rank: 86
VMAX Sortino Ratio Rank: 85
VMAX Omega Ratio Rank: 83
VMAX Calmar Ratio Rank: 94
VMAX Martin Ratio Rank: 93

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.

TEQI vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Income ETF (TEQI) and Hartford US Value ETF (VMAX). 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.

	TEQI	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.44	-0.34
Sortino ratio: Return per unit of downside risk	3.00	3.32	-0.33
Omega ratio: Gain probability vs. loss probability	1.37	1.43	-0.06
Calmar ratio: Return relative to maximum drawdown	3.12	6.08	-2.96
Martin ratio: Return relative to average drawdown	11.12	21.32	-10.20

TEQI vs. VMAX - Sharpe Ratio Comparison

The current TEQI Sharpe Ratio is 2.11, which is comparable to the VMAX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of TEQI and VMAX, 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

TEQI vs. VMAX - Drawdown Comparison

The maximum TEQI drawdown since its inception was -17.82%, smaller than the maximum VMAX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for TEQI and VMAX.

Drawdown Indicators

	TEQI	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-19.05%	+1.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-4.93%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	—	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-3.50%	-2.52%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	1.40%	+0.62%

Volatility

TEQI vs. VMAX - Volatility Comparison

T. Rowe Price Equity Income ETF (TEQI) has a higher volatility of 3.41% compared to Hartford US Value ETF (VMAX) at 3.22%. This indicates that TEQI's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEQI	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	3.22%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	8.83%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	10.72%	12.29%	-1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	15.39%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	15.39%	-0.30%

TEQI vs. VMAX - Expense Ratio Comparison

TEQI has a 0.54% expense ratio, which is higher than VMAX's 0.29% expense ratio.

Dividends

TEQI vs. VMAX - Dividend Comparison

TEQI's dividend yield for the trailing twelve months is around 1.51%, less than VMAX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TEQI T. Rowe Price Equity Income ETF	1.51%	1.71%	1.86%	2.12%	2.32%	3.03%	0.82%
VMAX Hartford US Value ETF	1.86%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEQI and VMAX in my portfolio?

TEQI and VMAX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEQI or VMAX?

TEQI has higher volatility (3.41%) compared to VMAX (3.22%). In terms of maximum drawdown, TEQI dropped -17.82% vs VMAX's -19.05%.

Which ETF is better, TEQI or VMAX?

On 1-year performance, VMAX leads with 29.83% vs 22.45% for TEQI. On fees, VMAX is cheaper at 0.29% per year. On volatility, VMAX has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEQI or VMAX?

Over the 1-year period, VMAX has performed better with a 29.83% return vs 22.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEQI or VMAX?

VMAX is cheaper with a 0.29% expense ratio, compared with 0.54% for TEQI.

Which ETF pays a higher dividend yield, TEQI or VMAX?

VMAX has the higher dividend yield at 1.86%, compared with 1.51% for TEQI.

What is the main difference between TEQI and VMAX?

They also come from different issuers: T. Rowe Price and Hartford. Their fees differ too: 0.54% for TEQI and 0.29% for VMAX.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.44 vs 2.11), 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.