TGLB vs. TSPA

Last updated Jul 21, 2026

TGLB (T. Rowe Price Global Equity ETF) and TSPA (T. Rowe Price US Equity Research ETF) are both exchange-traded funds - TGLB is a Global Equities fund managed by T. Rowe Price, while TSPA is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past year, TGLB returned 12.65% vs 19.66% for TSPA. Their correlation of 0.91 suggests significant overlap in exposure. TGLB charges 0.46%/yr vs 0.34%/yr for TSPA.

Performance

TGLB vs. TSPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Equity ETF (TGLB) and T. Rowe Price US Equity Research ETF (TSPA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGLB achieves a 10.62% return, which is significantly higher than TSPA's 9.75% return.

TGLB

• 1D: -0.76%
• 1M: -0.46%
• 6M: 8.63%
• YTD: 10.62%
• 1Y: 12.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.06%

TSPA

• 1D: -0.15%
• 1M: -1.03%
• 6M: 8.25%
• YTD: 9.75%
• 1Y: 19.66%
• 3Y*: 20.03%
• 5Y*: 13.44%
• 10Y*: —
• ALL TIME*: 13.75%

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

TGLB vs. TSPA - Yearly Performance Comparison

	2026 (YTD)	2025
TGLB T. Rowe Price Global Equity ETF	10.62%	3.99%
TSPA T. Rowe Price US Equity Research ETF	9.75%	12.69%

Correlation

The correlation between TGLB and TSPA 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 Jun 26, 2025	0.91

The correlation between TGLB and TSPA has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

TGLB vs. TSPA - Sectors Allocation Comparison

Sectors	TGLB	TSPA
Technology	34.3%	35.9%
Financial Services	18.1%	12.2%
Communication Services	11.5%	11.3%
Industrials	8.6%	8.0%
Consumer Cyclical	7.8%	10.0%
Healthcare	7.2%	8.6%
Basic Materials	4.8%	1.8%
Energy	4.0%	3.6%
Utilities	2.4%	2.4%
Consumer Defensive	1.2%	4.7%
Real Estate	-	1.7%

Return for Risk

TGLB vs. TSPA — Risk / Return Rank

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

TGLB

TGLB Risk / Return Rank: 34
TGLB Sharpe Ratio Rank: 33
TGLB Sortino Ratio Rank: 32
TGLB Omega Ratio Rank: 31
TGLB Calmar Ratio Rank: 34
TGLB Martin Ratio Rank: 40

TSPA

TSPA Risk / Return Rank: 61
TSPA Sharpe Ratio Rank: 60
TSPA Sortino Ratio Rank: 58
TSPA Omega Ratio Rank: 59
TSPA Calmar Ratio Rank: 57
TSPA Martin Ratio Rank: 71

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.

TGLB vs. TSPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Equity ETF (TGLB) and T. Rowe Price US Equity Research ETF (TSPA). 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.

	TGLB	TSPA	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.49	-0.61
Sortino ratio: Return per unit of downside risk	1.30	2.10	-0.79
Omega ratio: Gain probability vs. loss probability	1.16	1.27	-0.11
Calmar ratio: Return relative to maximum drawdown	1.30	2.14	-0.84
Martin ratio: Return relative to average drawdown	4.58	9.38	-4.80

TGLB vs. TSPA - Sharpe Ratio Comparison

The current TGLB Sharpe Ratio is 0.88, which is lower than the TSPA Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of TGLB and TSPA, 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

TGLB vs. TSPA - Drawdown Comparison

The maximum TGLB drawdown since its inception was -9.78%, smaller than the maximum TSPA drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for TGLB and TSPA.

Drawdown Indicators

	TGLB	TSPA	Difference
Max Drawdown Largest peak-to-trough decline	-9.78%	-24.72%	+14.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-9.24%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.72%	—
Current Drawdown Current decline from peak	-2.30%	-2.07%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.79%	-5.40%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.10%	+0.67%

Volatility

TGLB vs. TSPA - Volatility Comparison

T. Rowe Price Global Equity ETF (TGLB) and T. Rowe Price US Equity Research ETF (TSPA) have volatilities of 3.85% and 3.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGLB	TSPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.96%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	10.71%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	13.24%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	17.10%	-2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.14%	16.98%	-2.84%

TGLB vs. TSPA - Expense Ratio Comparison

TGLB has a 0.46% expense ratio, which is higher than TSPA's 0.34% expense ratio.

Dividends

TGLB vs. TSPA - Dividend Comparison

TGLB's dividend yield for the trailing twelve months is around 0.18%, less than TSPA's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021
TGLB T. Rowe Price Global Equity ETF	0.18%	0.20%	0.00%	0.00%	0.00%	0.00%
TSPA T. Rowe Price US Equity Research ETF	0.57%	0.62%	0.50%	0.41%	1.16%	0.43%

Frequently Asked Questions

Can I hold both TGLB and TSPA in my portfolio?

With a correlation of 0.92, TGLB and TSPA 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.

Which is riskier, TGLB or TSPA?

TSPA has higher volatility (3.96%) compared to TGLB (3.85%). In terms of maximum drawdown, TGLB dropped -9.78% vs TSPA's -24.72%.

Which ETF is better, TGLB or TSPA?

On 1-year performance, TSPA leads with 19.66% vs 12.65% for TGLB. On fees, TSPA is cheaper at 0.34% per year. On volatility, TGLB has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGLB or TSPA?

Over the 1-year period, TSPA has performed better with a 19.66% return vs 12.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGLB or TSPA?

TSPA is cheaper with a 0.34% expense ratio, compared with 0.46% for TGLB.

Which ETF pays a higher dividend yield, TGLB or TSPA?

TSPA has the higher dividend yield at 0.57%, compared with 0.18% for TGLB.

What is the main difference between TGLB and TSPA?

TGLB is categorized as Global Equities, while TSPA is Large Cap Blend Equities. Their fees differ too: 0.46% for TGLB and 0.34% for TSPA.

Which has better risk-adjusted returns?

TSPA currently has the higher Sharpe Ratio (1.49 vs 0.88), 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.