TCAL vs YLDE
T. Rowe Price Capital Appreciation Premium Income ETF vs Franklin ClearBridge Enhanced Income ETF
Which is better, TCAL or YLDE?
YLDE has been ahead.
TCAL has a lower expense ratio. YLDE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 32.6%.
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 | YLDE |
|---|---|---|
| Expense Ratio | 0.34%Best | 0.48% |
| AUM | $311M | $176M |
| Dividend Yield | 11.81% | 7.54% |
| Holdings | 488 | 110 |
| YTD Return | +7.30% | +13.16%Best |
| 1Y Return | +8.48% | +18.42%Best |
| 3Y Return (annualized) | - | +18.23% |
| 5Y Return (annualized) | - | +10.65% |
| Volatility (annualized) | 9.4%Best | 10.0% |
| Max Drawdown | -7.2%Best | -9.7% |
| $10,000 over 1.6 years | $10,927 | $12,821Best |
| Top 10 Weight | 17.0%Best | 32.6% |
| Fund Family | T.Rowe Price | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 26, 2025 | May 22, 2017 |
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 4, 2026 (1.6 years).
TCAL vs YLDE 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 YLDE Performance
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is an ETF from T.Rowe Price and Franklin ClearBridge Enhanced Income ETF (YLDE) is an ETF from Franklin Templeton Investments (US). Over the past year TCAL returned +8.48% while YLDE returned +18.42%. Year to date, TCAL is up 7.30% versus a gain of 13.16% for YLDE.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
YLDE has been the more volatile fund, with annualized monthly volatility of 10.0% compared with 9.4% 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 -9.7% for YLDE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TCAL charges 0.34% per year while YLDE charges 0.48%. On a $10,000 position that is $34 vs $48 annually, a gap of $14 per year that compounds over a long holding period. On income, TCAL currently yields 11.81% against 7.54% for YLDE.
Holdings Overlap
18.0% of TCAL's money is in holdings YLDE also owns. 35.3% of YLDE's money is in holdings TCAL also owns.
The two portfolios partly overlap.
16 positions in common, counted across the 103 positions we hold weights for in TCAL and 48 in YLDE, against full books of 488 and 110.
What only one of them owns
Our book lists 29 positions for YLDE that do not appear in our book for TCAL (58.9% of the fund), and 83 for TCAL that do not appear in YLDE (78.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in TCAL | Weight in YLDE | Difference |
|---|---|---|---|
| XOMExxonmobil Corp. | 1.37% | 4.52% | 3.15% |
| MSFTMicrosoft Corp | 1.94% | 3.67% | 1.73% |
| NVDANvidia Corp | 1.28% | 3.50% | 2.22% |
| MMCMarsh & Mclennan Cos Inc Common Stock Usd 1 | 1.14% | 2.62% | 1.48% |
| METAMeta Platforms Inc | 1.44% | 2.10% | 0.66% |
| 2330:TWTaiwan Semiconductor Manufacturing Co Ltd | 1.44% | 1.89% | 0.45% |
| BDXBecton Dickinson And Co. | 1.24% | 2.02% | 0.78% |
| VVisa Inc Class A | 1.19% | 1.92% | 0.73% |
| KOCoca Cola Co. | 0.97% | 2.12% | 1.15% |
| ADPAutomatic Data Processing, Inc. | 0.66% | 2.41% | 1.75% |
35.3% of YLDE is already inside TCAL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, TCAL or YLDE?
TCAL has an expense ratio of 0.34% while YLDE charges 0.48%. TCAL is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, TCAL or YLDE?
Over the past year TCAL returned +8.48% vs +18.42% for YLDE, so YLDE leads on 1-year performance. Over the longest common window we track (2 years), TCAL annualized +5.70% vs +16.80% for YLDE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCAL or YLDE?
YLDE has been the more volatile fund at 10.0% annualized versus 9.4% for TCAL. Worst drawdown: TCAL -7.2% vs YLDE -9.7%.
Should I hold both TCAL and YLDE?
TCAL and YLDE have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between TCAL and YLDE?
35.3% of YLDE's money is in holdings TCAL also owns. 35.3% of YLDE's is in holdings TCAL also owns. They hold 16 positions in common, counted across the 103 positions we hold weights for in TCAL and 48 in YLDE.
Which pays a higher dividend, TCAL or YLDE?
TCAL yields 11.81% while YLDE yields 7.54%, so TCAL currently pays the higher dividend yield.
Is YLDE better than TCAL?
TCAL has a lower expense ratio. YLDE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. TCAL is less concentrated, with 17.0% of the fund in its ten largest positions against 32.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.