TVAL vs. TGRW

Last updated Jun 4, 2026

TVAL (T. Rowe Price Value ETF) and TGRW (T. Rowe Price Growth Stock ETF) are both exchange-traded funds - TVAL is a Large Cap Value Equities fund actively managed by T. Rowe Price, while TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, TVAL returned 28.49% vs 21.56% for TGRW. A 0.52 correlation means they provide meaningful diversification when combined. TVAL charges 0.33%/yr vs 0.52%/yr for TGRW.

Performance

TVAL vs. TGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value ETF (TVAL) and T. Rowe Price Growth Stock ETF (TGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TVAL achieves a 15.42% return, which is significantly higher than TGRW's 5.83% return.

TVAL

• 1D: -0.05%
• 1M: 3.86%
• YTD: 15.42%
• 6M: 16.79%
• 1Y: 28.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TGRW

• 1D: -1.25%
• 1M: 6.14%
• YTD: 5.83%
• 6M: 5.32%
• 1Y: 21.56%
• 3Y*: 22.38%
• 5Y*: 9.69%
• 10Y*: —

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

TVAL vs. TGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TVAL T. Rowe Price Value ETF	15.42%	15.59%	14.54%	8.28%
TGRW T. Rowe Price Growth Stock ETF	5.83%	15.62%	29.94%	11.91%

Correlation

The correlation between TVAL and TGRW is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jun 16, 2023	0.52

The correlation between TVAL and TGRW has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

TVAL vs. TGRW - Sectors Allocation Comparison

Sectors	TVAL	TGRW
Financial Services	18.9%	5.6%
Technology	16.7%	52.0%
Industrials	12.2%	4.6%
Healthcare	11.4%	7.4%
Energy	8.5%	-
Communication Services	7.7%	15.6%
Consumer Cyclical	7.1%	12.5%
Consumer Defensive	6.1%	0.9%
Utilities	4.8%	-
Basic Materials	3.6%	0.7%
Real Estate	3.0%	0.6%

Return for Risk

TVAL vs. TGRW — Risk / Return Rank

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

TVAL

TVAL Risk / Return Rank: 82
TVAL Sharpe Ratio Rank: 82
TVAL Sortino Ratio Rank: 84
TVAL Omega Ratio Rank: 81
TVAL Calmar Ratio Rank: 78
TVAL Martin Ratio Rank: 83

TGRW

TGRW Risk / Return Rank: 31
TGRW Sharpe Ratio Rank: 36
TGRW Sortino Ratio Rank: 34
TGRW Omega Ratio Rank: 34
TGRW Calmar Ratio Rank: 24
TGRW Martin Ratio Rank: 26

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.

TVAL vs. TGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) 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.

	TVAL	TGRW	Difference
Sharpe ratio Return per unit of total volatility	2.69	1.31	+1.38
Sortino ratio Return per unit of downside risk	3.78	1.84	+1.94
Omega ratio Gain probability vs. loss probability	1.49	1.23	+0.26
Calmar ratio Return relative to maximum drawdown	4.00	1.15	+2.85
Martin ratio Return relative to average drawdown	16.80	3.64	+13.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TVAL vs. TGRW - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.69, which is higher than the TGRW Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of TVAL and TGRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TVAL	TGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	1.31	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.48	0.53	+0.96

Drawdowns

TVAL vs. TGRW - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum TGRW drawdown of -43.33%. Use the drawdown chart below to compare losses from any high point for TVAL and TGRW.

Drawdown Indicators

	TVAL	TGRW	Difference
Max Drawdown Largest peak-to-trough decline	-14.84%	-43.33%	+28.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-18.84%	+11.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.33%	—
Current Drawdown Current decline from peak	-0.39%	-1.79%	+1.40%
Average Drawdown Average peak-to-trough decline	-2.06%	-12.48%	+10.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	5.94%	-4.24%

Volatility

TVAL vs. TGRW - Volatility Comparison

The current volatility for T. Rowe Price Value ETF (TVAL) is 3.18%, while T. Rowe Price Growth Stock ETF (TGRW) has a volatility of 3.91%. This indicates that TVAL experiences smaller price fluctuations and is considered to be less risky than TGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TVAL	TGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.91%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	12.54%	-4.32%
Volatility (1Y) Calculated over the trailing 1-year period	10.65%	16.57%	-5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	23.27%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.59%	23.02%	-10.43%

TVAL vs. TGRW - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is lower than TGRW's 0.52% expense ratio.

Dividends

TVAL vs. TGRW - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 1.00%, while TGRW has not 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%
TVAL T. Rowe Price Value ETF	1.00%	1.15%	1.16%	0.64%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TVAL and TGRW in my portfolio?

TVAL and TGRW have a correlation of 0.48, 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 TGRW?

TGRW has higher volatility (3.91%) compared to TVAL (3.18%). In terms of maximum drawdown, TVAL dropped -14.84% vs TGRW's -43.33%.

Which ETF is better, TVAL or TGRW?

On 1-year performance, TVAL leads with 28.49% vs 21.56% for TGRW. On fees, TVAL is cheaper at 0.33% per year. On volatility, TVAL has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TVAL or TGRW?

Over the 1-year period, TVAL has performed better with a 28.49% return vs 21.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TVAL or TGRW?

TVAL is cheaper with a 0.33% expense ratio, compared with 0.52% for TGRW.

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

TVAL has the higher dividend yield at 1.00%, compared with 0.00% for TGRW.

What is the main difference between TVAL and TGRW?

TVAL is categorized as Large Cap Value Equities, while TGRW is Large Cap Growth Equities. Their fees differ too: 0.33% for TVAL and 0.52% for TGRW.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.69 vs 1.31), 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.