TGRT vs. THEQ

Last updated Jun 4, 2026

TGRT (T. Rowe Price Growth ETF) and THEQ (T. Rowe Price Hedged Equity ETF) are both exchange-traded funds - TGRT is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while THEQ is a Equity Hedged fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, TGRT returned 21.59% vs 17.85% for THEQ. Their correlation of 0.89 suggests significant overlap in exposure. TGRT charges 0.38%/yr vs 0.46%/yr for THEQ.

Performance

TGRT vs. THEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth ETF (TGRT) and T. Rowe Price Hedged Equity ETF (THEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGRT achieves a 5.49% return, which is significantly lower than THEQ's 7.16% return.

TGRT

• 1D: -1.41%
• 1M: 4.44%
• YTD: 5.49%
• 6M: 5.18%
• 1Y: 21.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THEQ

• 1D: -0.50%
• 1M: 3.35%
• YTD: 7.16%
• 6M: 7.07%
• 1Y: 17.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TGRT vs. THEQ - Yearly Performance Comparison

	2026 (YTD)	2025
TGRT T. Rowe Price Growth ETF	5.49%	25.49%
THEQ T. Rowe Price Hedged Equity ETF	7.16%	12.87%

Correlation

The correlation between TGRT and THEQ is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.89

The correlation between TGRT and THEQ has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

TGRT vs. THEQ - Sectors Allocation Comparison

Sectors	TGRT	THEQ
Technology	54.2%	3.5%
Communication Services	14.0%	0.7%
Consumer Cyclical	11.1%	0.6%
Healthcare	8.0%	1.5%
Financial Services	5.3%	84.3%
Industrials	4.6%	0.6%
Consumer Defensive	1.5%	0.9%
Utilities	0.5%	0.7%
Basic Materials	0.4%	0.1%
Energy	0.2%	0.4%
Real Estate	-	0.1%

Return for Risk

TGRT vs. THEQ — Risk / Return Rank

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

TGRT

TGRT Risk / Return Rank: 32
TGRT Sharpe Ratio Rank: 37
TGRT Sortino Ratio Rank: 35
TGRT Omega Ratio Rank: 36
TGRT Calmar Ratio Rank: 25
TGRT Martin Ratio Rank: 28

THEQ

THEQ Risk / Return Rank: 64
THEQ Sharpe Ratio Rank: 63
THEQ Sortino Ratio Rank: 64
THEQ Omega Ratio Rank: 63
THEQ Calmar Ratio Rank: 59
THEQ Martin Ratio Rank: 70

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.

TGRT vs. THEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth ETF (TGRT) and T. Rowe Price Hedged Equity ETF (THEQ). 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.

	TGRT	THEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.07	-0.73
Sortino ratio: Return per unit of downside risk	1.88	2.92	-1.04
Omega ratio: Gain probability vs. loss probability	1.24	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.21	2.90	-1.69
Martin ratio: Return relative to average drawdown	3.98	12.82	-8.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGRT vs. THEQ - Sharpe Ratio Comparison

The current TGRT Sharpe Ratio is 1.35, which is lower than the THEQ Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of TGRT and THEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TGRT	THEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	2.07	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	1.52	-0.30

Drawdowns

TGRT vs. THEQ - Drawdown Comparison

The maximum TGRT drawdown since its inception was -22.04%, which is greater than THEQ's maximum drawdown of -8.08%. Use the drawdown chart below to compare losses from any high point for TGRT and THEQ.

Drawdown Indicators

	TGRT	THEQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-8.08%	-13.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-6.17%	-11.72%
Current Drawdown Current decline from peak	-1.77%	-0.50%	-1.27%
Average Drawdown Average peak-to-trough decline	-3.27%	-1.00%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.44%	1.40%	+4.04%

Volatility

TGRT vs. THEQ - Volatility Comparison

T. Rowe Price Growth ETF (TGRT) has a higher volatility of 3.66% compared to T. Rowe Price Hedged Equity ETF (THEQ) at 2.22%. This indicates that TGRT's price experiences larger fluctuations and is considered to be riskier than THEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGRT	THEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	2.22%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	6.47%	+6.04%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	8.65%	+7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.09%	11.56%	+7.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.09%	11.56%	+7.53%

TGRT vs. THEQ - Expense Ratio Comparison

TGRT has a 0.38% expense ratio, which is lower than THEQ's 0.46% expense ratio.

Dividends

TGRT vs. THEQ - Dividend Comparison

TGRT's dividend yield for the trailing twelve months is around 0.07%, less than THEQ's 0.74% yield.

Position	TTM	2025	2024	2023
TGRT T. Rowe Price Growth ETF	0.07%	0.08%	0.09%	0.06%
THEQ T. Rowe Price Hedged Equity ETF	0.74%	0.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGRT and THEQ in my portfolio?

TGRT and THEQ have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGRT or THEQ?

TGRT has higher volatility (3.66%) compared to THEQ (2.22%). In terms of maximum drawdown, TGRT dropped -22.04% vs THEQ's -8.08%.

Which ETF is better, TGRT or THEQ?

On 1-year performance, TGRT leads with 21.59% vs 17.85% for THEQ. On fees, TGRT is cheaper at 0.38% per year. On volatility, THEQ has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGRT or THEQ?

Over the 1-year period, TGRT has performed better with a 21.59% return vs 17.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGRT or THEQ?

TGRT is cheaper with a 0.38% expense ratio, compared with 0.46% for THEQ.

Which ETF pays a higher dividend yield, TGRT or THEQ?

THEQ has the higher dividend yield at 0.74%, compared with 0.07% for TGRT.

What is the main difference between TGRT and THEQ?

TGRT is categorized as Large Cap Growth Equities, while THEQ is Equity Hedged. Their fees differ too: 0.38% for TGRT and 0.46% for THEQ.

Which has better risk-adjusted returns?

THEQ currently has the higher Sharpe Ratio (2.07 vs 1.35), 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.