TNXT vs. IUSG

Last updated Jun 6, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and IUSG (iShares Core S&P U.S. Growth ETF) are both Large Cap Growth Equities funds. TNXT is actively managed, while IUSG is passively managed. Their correlation of 0.95 suggests significant overlap in exposure. TNXT charges 0.49%/yr vs 0.04%/yr for IUSG.

Performance

TNXT vs. IUSG - 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 U.S. Growth ETF (IUSG). 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*: —

IUSG

• 1D: -3.72%
• 1M: 0.19%
• YTD: 9.76%
• 6M: 8.82%
• 1Y: 29.45%
• 3Y*: 25.99%
• 5Y*: 14.80%
• 10Y*: 17.37%

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

TNXT vs. IUSG - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	6.10%
IUSG iShares Core S&P U.S. Growth ETF	8.04%

Correlation

The correlation between TNXT and IUSG is 0.95, 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	0.95

Return for Risk

TNXT vs. IUSG — Risk / Return Rank

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

IUSG

IUSG Risk / Return Rank: 53
IUSG Sharpe Ratio Rank: 55
IUSG Sortino Ratio Rank: 52
IUSG Omega Ratio Rank: 53
IUSG Calmar Ratio Rank: 47
IUSG Martin Ratio Rank: 56

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. IUSG - 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 U.S. Growth ETF (IUSG). 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	IUSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.38	+0.47

Drawdowns

TNXT vs. IUSG - Drawdown Comparison

The maximum TNXT drawdown since its inception was -12.97%, smaller than the maximum IUSG drawdown of -63.41%. Use the drawdown chart below to compare losses from any high point for TNXT and IUSG.

Drawdown Indicators

	TNXT	IUSG	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-63.41%	+50.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.07%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.35%	—
Current Drawdown Current decline from peak	-4.98%	-4.73%	-0.25%
Average Drawdown Average peak-to-trough decline	-3.54%	-21.43%	+17.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.08%	—

Volatility

Volatility by Period

	TNXT	IUSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	16.18%	+5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	20.92%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	20.44%	+1.42%

TNXT vs. IUSG - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is higher than IUSG's 0.04% expense ratio.

Dividends

TNXT vs. IUSG - Dividend Comparison

TNXT has not paid dividends to shareholders, while IUSG's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSG iShares Core S&P U.S. Growth ETF	0.49%	0.53%	0.59%	1.12%	1.07%	0.59%	0.93%	1.64%	1.32%	1.28%	1.48%	1.29%
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 IUSG in my portfolio?

With a correlation of 0.95, TNXT and IUSG 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 IUSG?

On fees, IUSG is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or IUSG?

IUSG is cheaper with a 0.04% expense ratio, compared with 0.49% for TNXT.

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

IUSG has the higher dividend yield at 0.49%, compared with 0.00% for TNXT.

What is the main difference between TNXT and IUSG?

They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.49% for TNXT and 0.04% for IUSG.