VLLU vs. TVAL

Last updated Jun 25, 2026

VLLU (Harbor AlphaEdge Large Cap Value ETF) and TVAL (T. Rowe Price Value ETF) are both Large Cap Value Equities funds. VLLU is passively managed, while TVAL is actively managed. Over the past year, VLLU returned 23.10% vs 28.67% for TVAL. Their correlation of 0.91 suggests significant overlap in exposure. VLLU charges 0.25%/yr vs 0.33%/yr for TVAL.

Performance

VLLU vs. TVAL - Performance Comparison

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

Returns By Period

In the year-to-date period, VLLU achieves a 10.83% return, which is significantly lower than TVAL's 17.21% return.

VLLU

• 1D: -0.49%
• 1M: 1.68%
• YTD: 10.83%
• 6M: 9.06%
• 1Y: 23.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TVAL

• 1D: 0.05%
• 1M: 1.83%
• YTD: 17.21%
• 6M: 16.12%
• 1Y: 28.67%
• 3Y*: 19.65%
• 5Y*: —
• 10Y*: —

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

VLLU vs. TVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VLLU Harbor AlphaEdge Large Cap Value ETF	10.83%	17.35%	1.89%
TVAL T. Rowe Price Value ETF	17.21%	15.59%	-0.30%

Correlation

The correlation between VLLU and TVAL is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.91

The correlation between VLLU and TVAL has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

VLLU vs. TVAL - Sectors Allocation Comparison

Sectors	VLLU	TVAL
Technology	26.6%	19.6%
Financial Services	22.2%	18.7%
Healthcare	13.1%	11.2%
Industrials	9.8%	11.4%
Energy	7.3%	7.6%
Consumer Defensive	6.4%	6.2%
Consumer Cyclical	5.4%	6.7%
Communication Services	5.0%	7.6%
Basic Materials	3.7%	3.5%
Utilities	0.6%	4.7%
Real Estate	-	2.9%

Return for Risk

VLLU vs. TVAL — Risk / Return Rank

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

VLLU

VLLU Risk / Return Rank: 76
VLLU Sharpe Ratio Rank: 75
VLLU Sortino Ratio Rank: 78
VLLU Omega Ratio Rank: 70
VLLU Calmar Ratio Rank: 80
VLLU Martin Ratio Rank: 79

TVAL

TVAL Risk / Return Rank: 88
TVAL Sharpe Ratio Rank: 89
TVAL Sortino Ratio Rank: 90
TVAL Omega Ratio Rank: 87
TVAL Calmar Ratio Rank: 84
TVAL Martin Ratio Rank: 88

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.

VLLU vs. TVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) and T. Rowe Price Value ETF (TVAL). 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.

	VLLU	TVAL	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.63	-0.56
Sortino ratio: Return per unit of downside risk	3.00	3.67	-0.68
Omega ratio: Gain probability vs. loss probability	1.36	1.47	-0.11
Calmar ratio: Return relative to maximum drawdown	3.66	4.03	-0.37
Martin ratio: Return relative to average drawdown	13.26	16.83	-3.57

VLLU vs. TVAL - Sharpe Ratio Comparison

The current VLLU Sharpe Ratio is 2.07, which is comparable to the TVAL Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of VLLU and TVAL, 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

VLLU vs. TVAL - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, which is greater than TVAL's maximum drawdown of -14.84%. Use the drawdown chart below to compare losses from any high point for VLLU and TVAL.

Drawdown Indicators

	VLLU	TVAL	Difference
Max Drawdown Largest peak-to-trough decline	-16.62%	-14.84%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-7.15%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.84%	—
Current Drawdown Current decline from peak	-1.69%	-0.98%	-0.71%
Average Drawdown Average peak-to-trough decline	-2.41%	-2.03%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.71%	+0.04%

Volatility

VLLU vs. TVAL - Volatility Comparison

Harbor AlphaEdge Large Cap Value ETF (VLLU) and T. Rowe Price Value ETF (TVAL) have volatilities of 3.65% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLLU	TVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	3.58%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	8.60%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	10.97%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	12.61%	+2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	12.61%	+2.20%

VLLU vs. TVAL - Expense Ratio Comparison

VLLU has a 0.25% expense ratio, which is lower than TVAL's 0.33% expense ratio.

Dividends

VLLU vs. TVAL - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.37%, more than TVAL's 0.98% yield.

Position	TTM	2025	2024	2023
TVAL T. Rowe Price Value ETF	0.98%	1.15%	1.16%	0.64%
VLLU Harbor AlphaEdge Large Cap Value ETF	1.37%	1.52%	0.90%	0.00%

Frequently Asked Questions

Can I hold both VLLU and TVAL in my portfolio?

VLLU and TVAL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLLU or TVAL?

VLLU has higher volatility (3.65%) compared to TVAL (3.58%). In terms of maximum drawdown, VLLU dropped -16.62% vs TVAL's -14.84%.

Which ETF is better, VLLU or TVAL?

On 1-year performance, TVAL leads with 28.67% vs 23.10% for VLLU. On fees, VLLU is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLLU or TVAL?

Over the 1-year period, TVAL has performed better with a 28.67% return vs 23.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLLU or TVAL?

VLLU is cheaper with a 0.25% expense ratio, compared with 0.33% for TVAL.

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

VLLU has the higher dividend yield at 1.37%, compared with 0.98% for TVAL.

What is the main difference between VLLU and TVAL?

They also come from different issuers: Harbor and T. Rowe Price. Their fees differ too: 0.25% for VLLU and 0.33% for TVAL.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.63 vs 2.07), 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.