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TVAL vs. VLUE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TVAL vs. VLUE

Last updated Aug 2, 2026
Documentation

TVAL (T. Rowe Price Value ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both Large Cap Value Equities funds. TVAL is actively managed, while VLUE is passively managed. Over the past 3 years, TVAL returned 18.55%/yr vs 28.44%/yr for VLUE. Their correlation of 0.85 means they have usually moved in the same direction. TVAL charges 0.33%/yr vs 0.15%/yr for VLUE.

Performance

TVAL vs. VLUE - Performance Comparison

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

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Returns By Period

In the year-to-date period, TVAL achieves a 20.98% return, which is significantly lower than VLUE's 40.90% 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%

VLUE

1D
-1.13%
1M
-0.95%
6M
30.89%
YTD
40.90%
1Y
74.68%
3Y*
28.44%
5Y*
15.91%
10Y*
14.59%
ALL TIME*
13.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

TVAL

T. Rowe Price Value ETF
$3.26M$3.20M$5.80M

VLUE

iShares MSCI USA Value Factor ETF
$126.51M$186.31M$281.60M

TVAL vs. VLUE - Yearly Performance Comparison

2026 (YTD)202520242023
TVAL
T. Rowe Price Value ETF		20.98%15.59%14.54%8.45%
VLUE
iShares MSCI USA Value Factor ETF		40.90%32.67%7.25%10.23%

Correlation

The correlation between TVAL and VLUE is 0.74, 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.

0.74

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 VLUE shifts across timeframes, from 0.74 (1 year) to 0.85 (3 years), reflecting how their relationship changes across market environments.

TVAL vs. VLUE - Sectors Allocation Comparison

Sectors
TVAL
VLUE

Financial Services

20.0%
10.6%

Technology

19.0%
43.1%

Healthcare

12.2%
7.8%

Industrials

11.5%
7.9%

Consumer Cyclical

9.6%
9.9%

Energy

7.1%
2.8%

Consumer Defensive

6.4%
4.2%

Utilities

4.8%
2.0%

Communication Services

3.6%
8.7%

Basic Materials

3.5%
1.2%

Real Estate

2.5%
1.8%

Financial Services

TVAL
20.0%
VLUE
10.6%

Technology

TVAL
19.0%
VLUE
43.1%

Healthcare

TVAL
12.2%
VLUE
7.8%

Industrials

TVAL
11.5%
VLUE
7.9%

Consumer Cyclical

TVAL
9.6%
VLUE
9.9%

Energy

TVAL
7.1%
VLUE
2.8%

Consumer Defensive

TVAL
6.4%
VLUE
4.2%

Utilities

TVAL
4.8%
VLUE
2.0%

Communication Services

TVAL
3.6%
VLUE
8.7%

Basic Materials

TVAL
3.5%
VLUE
1.2%

Real Estate

TVAL
2.5%
VLUE
1.8%

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 Value ETF

iShares MSCI USA Value Factor ETF

Often compared with TVAL:
TVAL vs. TEQITVAL vs. VTVTVAL vs. PRDGXTVAL vs. TDVGTVAL vs. CGDVTVAL vs. TRBUXTVAL vs. AVLV
Often compared with VLUE:
VLUE vs. AVLVVLUE vs. VLUVLUE vs. VOOVLUE vs. VTVVLUE vs. IUSVVLUE vs. QVALVLUE vs. SCHV

Return for Risk

TVAL vs. VLUE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
TVAL
TVAL Risk / Return Rank: 9595
Overall Rank
TVAL Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
TVAL Sortino Ratio Rank: 9595
Sortino Ratio Rank
TVAL Omega Ratio Rank: 9494
Omega Ratio Rank
TVAL Calmar Ratio Rank: 9393
Calmar Ratio Rank
TVAL Martin Ratio Rank: 9494
Martin Ratio Rank
VLUE
VLUE Risk / Return Rank: 9797
Overall Rank
VLUE Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
VLUE Sortino Ratio Rank: 9696
Sortino Ratio Rank
VLUE Omega Ratio Rank: 9696
Omega Ratio Rank
VLUE Calmar Ratio Rank: 9797
Calmar Ratio Rank
VLUE Martin Ratio Rank: 9797
Martin Ratio Rank
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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) and iShares MSCI USA Value Factor ETF (VLUE). 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.

TVALVLUEDifference
Sharpe ratioReturn per unit of total volatility
2.91
3.57

-0.66

Sortino ratioReturn per unit of downside risk
4.04
4.57

-0.54

Omega ratioGain probability vs. loss probability

1.52

1.60

-0.07

Calmar ratioReturn relative to maximum drawdown

4.44

8.06

-3.62

Martin ratioReturn relative to average drawdown

19.04

27.03

-8.00

TVAL vs. VLUE - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.91, which is comparable to the VLUE Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of TVAL and VLUE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TVAL vs. VLUE - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum VLUE drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for TVAL and VLUE.

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Drawdown Indicators

TVALVLUEDifference

Max Drawdown

Largest peak-to-trough decline

-14.84%

-39.47%

+24.63%

Max Drawdown (1Y)

Largest decline over 1 year

-7.15%

-9.04%

+1.89%

Max Drawdown (3Y)

Largest decline over 3 years

-14.84%

-17.89%

+3.05%

Max Drawdown (5Y)

Largest decline over 5 years

—

-27.12%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.47%

—

Current Drawdown

Current decline from peak

-0.12%

-6.57%

+6.45%

Average Drawdown

Average peak-to-trough decline

-1.98%

-5.99%

+4.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.67%

2.69%

-1.02%

Volatility

TVAL vs. VLUE - Volatility Comparison

The current volatility for T. Rowe Price Value ETF (TVAL) is 2.57%, while iShares MSCI USA Value Factor ETF (VLUE) has a volatility of 6.56%. This indicates that TVAL experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TVALVLUEDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.57%

6.56%

-3.99%

Volatility (6M)

Calculated over the trailing 6-month period

8.35%

17.51%

-9.16%

Volatility (1Y)

Calculated over the trailing 1-year period

10.98%

20.49%

-9.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.49%

18.37%

-5.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.49%

20.05%

-7.56%

TVAL vs. VLUE - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

TVAL vs. VLUE - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 0.95%, less than VLUE's 1.47% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VLUE
iShares MSCI USA Value Factor ETF		1.47%2.11%2.73%2.66%3.18%2.22%2.42%2.61%2.70%2.14%2.07%2.39%

Frequently Asked Questions

TVAL and VLUE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VLUE has higher volatility (6.56%) compared to TVAL (2.57%). In terms of maximum drawdown, TVAL dropped -14.84% vs VLUE's -39.47%.

On 3-year performance, VLUE leads with 28.44% vs 18.55% for TVAL. On fees, VLUE is cheaper at 0.15% 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.

Over the 3-year period, VLUE has performed better with a 28.44% return vs 18.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VLUE is cheaper with a 0.15% expense ratio, compared with 0.33% for TVAL.

VLUE has the higher dividend yield at 1.47%, compared with 0.95% for TVAL.

They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.33% for TVAL and 0.15% for VLUE.

VLUE currently has the higher Sharpe Ratio (3.57 vs 2.91), 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.

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