TVAL vs. FTA

Last updated Aug 2, 2026

TVAL (T. Rowe Price Value ETF) and FTA (First Trust Large Cap Value AlphaDEX Fund) are both Large Cap Value Equities funds. TVAL is actively managed, while FTA is passively managed. Over the past 3 years, TVAL returned 18.55%/yr vs 15.29%/yr for FTA. Their correlation of 0.85 means they have usually moved in the same direction. TVAL charges 0.33%/yr vs 0.60%/yr for FTA.

Performance

TVAL vs. FTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value ETF (TVAL) and First Trust Large Cap Value AlphaDEX Fund (FTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TVAL achieves a 20.98% return, which is significantly higher than FTA's 18.18% return.

TVAL

• 1D: 0.50%
• 1M: 1.14%
• 6M: 15.26%
• YTD: 20.98%
• 1Y: 32.99%
• 3Y*: 18.55%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.32%

FTA

• 1D: -0.29%
• 1M: 2.70%
• 6M: 12.86%
• YTD: 18.18%
• 1Y: 31.73%
• 3Y*: 15.29%
• 5Y*: 11.21%
• 10Y*: 11.60%
• ALL TIME*: 8.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTA First Trust Large Cap Value AlphaDEX Fund	$3.06M	$3.30M	$2.95M
TVAL T. Rowe Price Value ETF	$3.26M	$3.20M	$5.80M

TVAL vs. FTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TVAL T. Rowe Price Value ETF	20.98%	15.59%	14.54%	8.45%
FTA First Trust Large Cap Value AlphaDEX Fund	18.18%	14.94%	10.13%	9.47%

Correlation

The correlation between TVAL and FTA is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.85

The correlation between TVAL and FTA shifts across timeframes, from 0.70 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

TVAL vs. FTA - Sectors Allocation Comparison

Sectors	TVAL	FTA
Financial Services	20.0%	23.2%
Technology	19.0%	7.3%
Healthcare	12.2%	10.2%
Industrials	11.5%	8.8%
Consumer Cyclical	9.6%	9.3%
Energy	7.1%	9.2%
Consumer Defensive	6.4%	6.5%
Utilities	4.8%	11.1%
Communication Services	3.6%	4.6%
Basic Materials	3.5%	3.2%
Real Estate	2.5%	6.6%

Return for Risk

TVAL vs. FTA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TVAL

TVAL Risk / Return Rank: 95
TVAL Sharpe Ratio Rank: 96
TVAL Sortino Ratio Rank: 95
TVAL Omega Ratio Rank: 94
TVAL Calmar Ratio Rank: 93
TVAL Martin Ratio Rank: 94

FTA

FTA Risk / Return Rank: 94
FTA Sharpe Ratio Rank: 94
FTA Sortino Ratio Rank: 95
FTA Omega Ratio Rank: 92
FTA Calmar Ratio Rank: 96
FTA Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TVAL vs. FTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) and First Trust Large Cap Value AlphaDEX Fund (FTA). 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.

	TVAL	FTA	Difference
Sharpe ratio: Return per unit of total volatility	2.91	2.63	+0.28
Sortino ratio: Return per unit of downside risk	4.04	3.90	+0.14
Omega ratio: Gain probability vs. loss probability	1.52	1.46	+0.07
Calmar ratio: Return relative to maximum drawdown	4.44	5.93	-1.49
Martin ratio: Return relative to average drawdown	19.04	20.26	-1.23

TVAL vs. FTA - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.91, which is comparable to the FTA Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of TVAL and FTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TVAL vs. FTA - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum FTA drawdown of -62.45%. Use the drawdown chart below to compare losses from any high point for TVAL and FTA.

Drawdown Indicators

	TVAL	FTA	Difference
Max Drawdown Largest peak-to-trough decline	-14.84%	-62.45%	+47.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-5.13%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.84%	-18.73%	+3.89%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.97%	—
Current Drawdown Current decline from peak	-0.12%	-1.56%	+1.44%
Average Drawdown Average peak-to-trough decline	-1.98%	-8.97%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.50%	+0.17%

Volatility

TVAL vs. FTA - Volatility Comparison

The current volatility for T. Rowe Price Value ETF (TVAL) is 2.57%, while First Trust Large Cap Value AlphaDEX Fund (FTA) has a volatility of 3.93%. This indicates that TVAL experiences smaller price fluctuations and is considered to be less risky than FTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVAL	FTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	3.93%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	8.04%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	11.61%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.49%	16.23%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	19.85%	-7.36%

TVAL vs. FTA - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is lower than FTA's 0.60% expense ratio.

Dividends

TVAL vs. FTA - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 0.95%, less than FTA's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTA First Trust Large Cap Value AlphaDEX Fund	1.61%	1.89%	2.02%	2.10%	2.15%	1.54%	2.03%	1.88%	2.28%	1.53%	1.56%	2.05%
TVAL T. Rowe Price Value ETF	0.95%	1.15%	1.16%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TVAL and FTA in my portfolio?

TVAL and FTA have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TVAL or FTA?

FTA has higher volatility (3.93%) compared to TVAL (2.57%). In terms of maximum drawdown, TVAL dropped -14.84% vs FTA's -62.45%.

Which ETF is better, TVAL or FTA?

On 3-year performance, TVAL leads with 18.55% vs 15.29% for FTA. On fees, TVAL is cheaper at 0.33% per year. On volatility, TVAL has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TVAL or FTA?

Over the 3-year period, TVAL has performed better with a 18.55% return vs 15.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TVAL or FTA?

TVAL is cheaper with a 0.33% expense ratio, compared with 0.60% for FTA.

Which ETF pays a higher dividend yield, TVAL or FTA?

FTA has the higher dividend yield at 1.61%, compared with 0.95% for TVAL.

What is the main difference between TVAL and FTA?

They also come from different issuers: T. Rowe Price and First Trust. Their fees differ too: 0.33% for TVAL and 0.60% for FTA.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.91 vs 2.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.