TCAL vs TSPA
T. Rowe Price Capital Appreciation Premium Income ETF vs T Rowe Price US Equity Research ETF
Which is better, TCAL or TSPA?
TSPA has been ahead.
TSPA led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | TCAL | TSPA |
|---|---|---|
| Expense Ratio | 0.34%Tie | 0.34%Tie |
| AUM | $321M | $4.5B |
| Dividend Yield | 10.80% | 0.55% |
| Holdings | 614 | 331 |
| YTD Return | +7.80% | +11.44%Best |
| 1Y Return | +7.23% | +11.90%Best |
| 3Y Return (annualized) | - | +21.11% |
| 5Y Return (annualized) | - | +12.14% |
| Volatility (annualized) | 9.5%Best | 12.0% |
| Max Drawdown | -7.2%Best | -12.4% |
| $10,000 over 1.6 years | $10,966 | $13,410Best |
| Fund Family | T.Rowe Price | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 26, 2025 | Jun 8, 2021 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Mar 27, 2025 to Nov 11, 2026 (1.6 years).
TCAL vs TSPA growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.6 years both funds cover.
TCAL vs TSPA Performance
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is an ETF from T.Rowe Price and T Rowe Price US Equity Research ETF (TSPA) is an ETF from T.Rowe Price. Over the past year TCAL returned +7.23% while TSPA returned +11.90%. Year to date, TCAL is up 7.80% versus a gain of 11.44% for TSPA.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSPA has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 9.5% for TCAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -7.2% for TCAL and -12.4% for TSPA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.16. They move largely independently of each other.
Fees and Cost Over Time
TCAL charges 0.34% per year while TSPA charges 0.34%. On a $10,000 position that is $34 vs $34 annually. On income, TCAL currently yields 10.80% against 0.55% for TSPA.
You are not choosing between two funds in isolation.
Whichever of TCAL and TSPA you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, TCAL or TSPA?
TCAL has an expense ratio of 0.34% while TSPA charges 0.34%. At the precision these are quoted to, they cost the same.
Which performed better, TCAL or TSPA?
Over the past year TCAL returned +7.23% vs +11.90% for TSPA, so TSPA leads on 1-year performance. Over the longest common window we track (2 years), TCAL annualized +5.93% vs +20.13% for TSPA. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCAL or TSPA?
TSPA has been the more volatile fund at 12.0% annualized versus 9.5% for TCAL. Worst drawdown: TCAL -7.2% vs TSPA -12.4%.
Should I hold both TCAL and TSPA?
TCAL and TSPA have a monthly-return correlation of 0.16, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, TCAL or TSPA?
TCAL yields 10.80% while TSPA yields 0.55%, so TCAL currently pays the higher dividend yield.
Is TSPA better than TCAL?
TSPA led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.