TSPA vs. TCAF
Compare and contrast key facts about T. Rowe Price US Equity Research ETF (TSPA) and T. Rowe Price Capital Appreciation Equity ETF (TCAF).
TSPA and TCAF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSPA is an actively managed fund by T. Rowe Price. It was launched on Jun 8, 2021. TCAF is an actively managed fund by T. Rowe Price. It was launched on Jun 14, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TSPA or TCAF.
Key characteristics
| TSPA | TCAF | |
|---|---|---|
| YTD Return | 28.37% | 24.14% |
| 1Y Return | 39.17% | 34.17% |
| Sharpe Ratio | 3.30 | 3.13 |
| Sortino Ratio | 4.40 | 4.19 |
| Omega Ratio | 1.62 | 1.58 |
| Calmar Ratio | 4.62 | 6.01 |
| Martin Ratio | 21.10 | 24.78 |
| Ulcer Index | 1.95% | 1.45% |
| Daily Std Dev | 12.43% | 11.46% |
| Max Drawdown | -24.72% | -8.80% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between TSPA and TCAF is 0.94, 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.
Performance
TSPA vs. TCAF - Performance Comparison
In the year-to-date period, TSPA achieves a 28.37% return, which is significantly higher than TCAF's 24.14% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TSPA vs. TCAF - Expense Ratio Comparison
TSPA has a 0.34% expense ratio, which is higher than TCAF's 0.31% expense ratio.
Risk-Adjusted Performance
TSPA vs. TCAF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price US Equity Research ETF (TSPA) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). 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.
Dividends
TSPA vs. TCAF - Dividend Comparison
TSPA's dividend yield for the trailing twelve months is around 0.32%, more than TCAF's 0.21% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
TSPA T. Rowe Price US Equity Research ETF | 0.32% | 0.41% | 1.16% | 0.43% |
TCAF T. Rowe Price Capital Appreciation Equity ETF | 0.21% | 0.26% | 0.00% | 0.00% |
Drawdowns
TSPA vs. TCAF - Drawdown Comparison
The maximum TSPA drawdown since its inception was -24.72%, which is greater than TCAF's maximum drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for TSPA and TCAF. For additional features, visit the drawdowns tool.
Volatility
TSPA vs. TCAF - Volatility Comparison
T. Rowe Price US Equity Research ETF (TSPA) has a higher volatility of 3.96% compared to T. Rowe Price Capital Appreciation Equity ETF (TCAF) at 3.65%. This indicates that TSPA's price experiences larger fluctuations and is considered to be riskier than TCAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.