TNXT vs. TDVG

Last updated Jul 12, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Growth Equities funds from T. Rowe Price. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. TNXT charges 0.49%/yr vs 0.50%/yr for TDVG.

Performance

TNXT vs. TDVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Innovation Leaders ETF (TNXT) and T. Rowe Price Dividend Growth ETF (TDVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TNXT

• 1D: -0.21%
• 1M: 5.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDVG

• 1D: 0.26%
• 1M: 2.81%
• 6M: 8.49%
• YTD: 10.73%
• 1Y: 17.92%
• 3Y*: 15.66%
• 5Y*: 10.25%
• 10Y*: —

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

TNXT vs. TDVG - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	12.47%
TDVG T. Rowe Price Dividend Growth ETF	8.60%

Correlation

The correlation between TNXT and TDVG is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.62

Return for Risk

TNXT vs. TDVG — Risk / Return Rank

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

TNXT

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

TDVG

TDVG Risk / Return Rank: 67
TDVG Sharpe Ratio Rank: 69
TDVG Sortino Ratio Rank: 71
TDVG Omega Ratio Rank: 67
TDVG Calmar Ratio Rank: 60
TDVG Martin Ratio Rank: 68

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. TDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) and T. Rowe Price Dividend Growth ETF (TDVG). 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.

	TNXT	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.57	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.40	—
Martin ratio: Return relative to average drawdown	—	9.88	—

Drawdowns

TNXT vs. TDVG - Drawdown Comparison

The maximum TNXT drawdown since its inception was -13.11%, smaller than the maximum TDVG drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for TNXT and TDVG.

Drawdown Indicators

	TNXT	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-19.20%	+6.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Current Drawdown Current decline from peak	-0.21%	-0.06%	-0.15%
Average Drawdown Average peak-to-trough decline	-3.28%	-3.70%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	TNXT	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.23%	9.71%	+11.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	13.90%	+7.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	13.85%	+7.38%

TNXT vs. TDVG - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

TNXT vs. TDVG - Dividend Comparison

TNXT has not paid dividends to shareholders, while TDVG's dividend yield for the trailing twelve months is around 0.97%.

Position	TTM	2025	2024	2023	2022	2021	2020
TDVG T. Rowe Price Dividend Growth ETF	0.97%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%
TNXT T. Rowe Price Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNXT and TDVG in my portfolio?

TNXT and TDVG have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNXT or TDVG?

On fees, TNXT is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or TDVG?

TNXT is cheaper with a 0.49% expense ratio, compared with 0.50% for TDVG.

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

TDVG has the higher dividend yield at 0.97%, compared with 0.00% for TNXT.

What is the main difference between TNXT and TDVG?

Their fees differ too: 0.49% for TNXT and 0.50% for TDVG.