TNXT vs. TGRW
TNXT (T. Rowe Price Innovation Leaders ETF) and TGRW (T. Rowe Price Growth Stock ETF) are both Large Cap Growth Equities funds from T. Rowe Price. Both are actively managed. Their correlation of 0.91 means they have usually moved in the same direction. TNXT charges 0.49%/yr vs 0.52%/yr for TGRW.
Performance
TNXT vs. TGRW - Performance Comparison
Loading charts...
Returns By Period
TNXT
- 1D
- 0.05%
- 1M
- -1.91%
- 6M
- 10.67%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TGRW
- 1D
- 1.18%
- 1M
- -2.97%
- 6M
- 2.03%
- YTD
- -0.41%
- 1Y
- 8.07%
- 3Y*
- 17.00%
- 5Y*
- 6.77%
- 10Y*
- —
- ALL TIME*
- 10.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $159.62K | $239.67K | $596.13K | |
| $19.23K | $12.64K | $54.16K |
TNXT vs. TGRW - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TNXT T. Rowe Price Innovation Leaders ETF | 8.98% |
TGRW T. Rowe Price Growth Stock ETF | 0.23% |
Correlation
The correlation between TNXT and TGRW is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026 | 0.91 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TNXT vs. TGRW — Risk / Return Rank
TNXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TGRW
TNXT vs. TGRW - 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 Growth Stock ETF (TGRW). 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 | TGRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.06 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.29 | — |
| Martin ratioReturn relative to average drawdown | — | 0.86 | — |
Loading charts...
Drawdowns
TNXT vs. TGRW - Drawdown Comparison
The maximum TNXT drawdown since its inception was -13.11%, smaller than the maximum TGRW drawdown of -43.33%. Use the drawdown chart below to compare losses from any high point for TNXT and TGRW.
Loading charts...
Drawdown Indicators
| TNXT | TGRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.11% | -43.33% | +30.22% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.33% | — |
Current DrawdownCurrent decline from peak | -3.31% | -7.58% | +4.27% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -12.29% | +9.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.43% | — |
Volatility
TNXT vs. TGRW - Volatility Comparison
Loading charts...
Volatility by Period
| TNXT | TGRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.96% | 18.24% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.96% | 23.49% | -2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.96% | 22.99% | -2.03% |
TNXT vs. TGRW - Expense Ratio Comparison
TNXT has a 0.49% expense ratio, which is lower than TGRW's 0.52% expense ratio.
Dividends
TNXT vs. TGRW - Dividend Comparison
Neither TNXT nor TGRW has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
TGRW T. Rowe Price Growth Stock ETF | 0.00% | 0.00% | 0.00% | 0.01% | 0.00% | 0.40% | 0.21% |
TNXT T. Rowe Price Innovation Leaders ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, TNXT and TGRW 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.
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.
TNXT is cheaper with a 0.49% expense ratio, compared with 0.52% for TGRW.
TNXT and TGRW have nearly identical dividend yields, around 0.00%.
Their fees differ too: 0.49% for TNXT and 0.52% for TGRW.
Find the right allocation for TNXT and TGRW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer