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TSPA vs. PREIX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

TSPA vs. PREIX

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price US Equity Research ETF (TSPA) and T. Rowe Price Equity Index 500 Fund (PREIX).

TSPA is an actively managed fund by T. Rowe Price. It was launched on Jun 8, 2021. PREIX is managed by T. Rowe Price. It was launched on Mar 30, 1990.

Performance

TSPA vs. PREIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price US Equity Research ETF (TSPA) and T. Rowe Price Equity Index 500 Fund (PREIX). The values are adjusted to include any dividend payments, if applicable.

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TSPA vs. PREIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
TSPA
T. Rowe Price US Equity Research ETF		-4.39%16.44%26.37%29.95%-18.70%13.72%
PREIX
T. Rowe Price Equity Index 500 Fund		-7.11%19.24%24.78%26.07%-18.27%13.70%

Returns By Period

In the year-to-date period, TSPA achieves a -4.39% return, which is significantly higher than PREIX's -7.11% return.

TSPA

1D
3.02%
1M
-5.30%
YTD
-4.39%
6M
-1.80%
1Y
17.05%
3Y*
19.14%
5Y*
—
10Y*
—

PREIX

1D
-0.39%
1M
-7.70%
YTD
-7.11%
6M
-3.40%
1Y
15.76%
3Y*
17.48%
5Y*
11.51%
10Y*
13.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price US Equity Research ETF

T. Rowe Price Equity Index 500 Fund

Often compared with TSPA:
TSPA vs. TCHPTSPA vs. TCAFTSPA vs. PRCOXTSPA vs. VOOTSPA vs. TGRTTSPA vs. SCHGTSPA vs. SPMO
Often compared with PREIX:
PREIX vs. VOOPREIX vs. PRWCXPREIX vs. FXAIXPREIX vs. POMIXPREIX vs. PRFDXPREIX vs. PRDGXPREIX vs. PRMTX

TSPA vs. PREIX - Expense Ratio Comparison

TSPA has a 0.34% expense ratio, which is higher than PREIX's 0.15% expense ratio.

TSPA
T. Rowe Price US Equity Research ETF
PREIX
T. Rowe Price Equity Index 500 Fund

Return for Risk

TSPA vs. PREIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TSPA
TSPA Risk / Return Rank: 6060
Overall Rank
TSPA Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
TSPA Sortino Ratio Rank: 5757
Sortino Ratio Rank
TSPA Omega Ratio Rank: 6060
Omega Ratio Rank
TSPA Calmar Ratio Rank: 6060
Calmar Ratio Rank
TSPA Martin Ratio Rank: 6969
Martin Ratio Rank
PREIX
PREIX Risk / Return Rank: 5252
Overall Rank
PREIX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
PREIX Sortino Ratio Rank: 5252
Sortino Ratio Rank
PREIX Omega Ratio Rank: 5656
Omega Ratio Rank
PREIX Calmar Ratio Rank: 4747
Calmar Ratio Rank
PREIX Martin Ratio Rank: 5959
Martin Ratio Rank
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.

TSPA vs. PREIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price US Equity Research ETF (TSPA) and T. Rowe Price Equity Index 500 Fund (PREIX). 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.

TSPAPREIXDifference

Sharpe ratio

Return per unit of total volatility

0.95

0.91

+0.03

Sortino ratio

Return per unit of downside risk

1.44

1.40

+0.05

Omega ratio

Gain probability vs. loss probability

1.22

1.22

0.00

Calmar ratio

Return relative to maximum drawdown

1.47

1.16

+0.30

Martin ratio

Return relative to average drawdown

6.81

5.66

+1.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSPA vs. PREIX - Sharpe Ratio Comparison

The current TSPA Sharpe Ratio is 0.95, which is comparable to the PREIX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of TSPA and PREIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

TSPAPREIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.95

0.91

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.68

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.76

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.59

+0.09

Correlation

The correlation between TSPA and PREIX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TSPA vs. PREIX - Dividend Comparison

TSPA's dividend yield for the trailing twelve months is around 0.65%, less than PREIX's 3.97% yield.

TTM20252024202320222021202020192018201720162015
TSPA
T. Rowe Price US Equity Research ETF		0.65%0.62%0.50%0.41%1.16%0.43%0.00%0.00%0.00%0.00%0.00%0.00%
PREIX
T. Rowe Price Equity Index 500 Fund		3.97%3.66%1.17%1.32%1.50%1.56%1.97%2.13%2.60%1.30%2.03%2.02%

Drawdowns

TSPA vs. PREIX - Drawdown Comparison

The maximum TSPA drawdown since its inception was -24.72%, smaller than the maximum PREIX drawdown of -55.32%. Use the drawdown chart below to compare losses from any high point for TSPA and PREIX.

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Drawdown Indicators

TSPAPREIXDifference

Max Drawdown

Largest peak-to-trough decline

-24.72%

-55.32%

+30.60%

Max Drawdown (1Y)

Largest decline over 1 year

-12.06%

-12.12%

+0.06%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.60%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.81%

—

Current Drawdown

Current decline from peak

-6.49%

-8.93%

+2.44%

Average Drawdown

Average peak-to-trough decline

-5.66%

-8.76%

+3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

2.49%

+0.11%

Volatility

TSPA vs. PREIX - Volatility Comparison

T. Rowe Price US Equity Research ETF (TSPA) has a higher volatility of 5.65% compared to T. Rowe Price Equity Index 500 Fund (PREIX) at 4.25%. This indicates that TSPA's price experiences larger fluctuations and is considered to be riskier than PREIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TSPAPREIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.65%

4.25%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

9.86%

9.03%

+0.83%

Volatility (1Y)

Calculated over the trailing 1-year period

18.09%

18.09%

0.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.15%

16.95%

+0.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.15%

18.06%

-0.91%