TNXT vs. ITOT

Last updated Jun 6, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - TNXT is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. TNXT is actively managed, while ITOT is passively managed. Their correlation of 0.94 suggests significant overlap in exposure. TNXT charges 0.49%/yr vs 0.03%/yr for ITOT.

Performance

TNXT vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Innovation Leaders ETF (TNXT) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TNXT

• 1D: -4.11%
• 1M: -0.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ITOT

• 1D: -2.71%
• 1M: 0.38%
• YTD: 8.76%
• 6M: 8.31%
• 1Y: 25.86%
• 3Y*: 21.07%
• 5Y*: 12.18%
• 10Y*: 14.67%

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

TNXT vs. ITOT - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	6.10%
ITOT iShares Core S&P Total U.S. Stock Market ETF	6.59%

Correlation

The correlation between TNXT and ITOT is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026	0.94

Return for Risk

TNXT vs. ITOT — Risk / Return Rank

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

ITOT

ITOT Risk / Return Rank: 64
ITOT Sharpe Ratio Rank: 64
ITOT Sortino Ratio Rank: 61
ITOT Omega Ratio Rank: 63
ITOT Calmar Ratio Rank: 60
ITOT Martin Ratio Rank: 72

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.

TNXT vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TNXT	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.08	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.57	+0.28

Drawdowns

TNXT vs. ITOT - Drawdown Comparison

The maximum TNXT drawdown since its inception was -12.97%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for TNXT and ITOT.

Drawdown Indicators

	TNXT	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-55.20%	+42.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-4.98%	-2.95%	-2.03%
Average Drawdown Average peak-to-trough decline	-3.54%	-6.97%	+3.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.94%	—

Volatility

Volatility by Period

	TNXT	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	12.51%	+9.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	17.39%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	18.28%	+3.58%

TNXT vs. ITOT - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

TNXT vs. ITOT - Dividend Comparison

TNXT has not paid dividends to shareholders, while ITOT's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.00%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
TNXT T. Rowe Price Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNXT and ITOT in my portfolio?

With a correlation of 0.94, TNXT and ITOT 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 ETF is better, TNXT or ITOT?

On fees, ITOT is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.49% for TNXT.

Which ETF pays a higher dividend yield, TNXT or ITOT?

ITOT has the higher dividend yield at 1.00%, compared with 0.00% for TNXT.

What is the main difference between TNXT and ITOT?

TNXT is categorized as Large Cap Growth Equities, while ITOT is Large Cap Blend Equities. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.49% for TNXT and 0.03% for ITOT.