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TCAFvsPHEQETF Comparison
T. Rowe Price Capital Appreciation Equity ETF (TCAF) belongs to the US Large Cap segment. Parametric Hedged Equity ETF (PHEQ) is part of the Options Strategies segment. TCAF's top 3 sector exposures are Information Technology, Health Care and Consumer Discretionary. In contrast, PHEQ's top sector exposures are Information Technology, Communication Services and Consumer Discretionary. TCAF is more expensive with a Total Expense Ratio (TER) of 0.31%, versus 0.29% for PHEQ. TCAF is down -2.8% year-to-date (YTD) with +$221M in YTD flows. PHEQ performs better with -0.52% YTD performance, and -$11M in YTD flows. Run a side-by-side ETF comparison of TCAF and PHEQ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
TCAF vs PHEQ performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TCAF PHEQ | -1.28%-0.98% | -3.10%-0.69% | -2.80%-0.52% | +16.23%+14.90% | n/an/a | n/an/a |
| Flows | TCAF PHEQ | +$73M-$5M | +$330M-$11M | +$221M-$11M | +$2.38B+$28M | -- | -- |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TCAF PHEQ | +10.94%+6.13% | +17.07%+10.57% | n/an/a | n/an/a |
| Max drawdown | TCAF PHEQ | -4.39%-1.65% | -12.72%-8.63% | n/an/a | n/an/a |
| Max drawdown duration | TCAF PHEQ | 58d58d | 45d45d | n/an/a | n/an/a |
TCAF | PHEQ | |
Last sale 3/13/2026 at 1:30 PM | $36.29 | $31.98 |
| Previous close 03/12/2026 | $36.52 | $32.10 |
| Consolidated volume 03/12/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
TCAF | PHEQ | |
|---|---|---|
| Last price | $36.29 | $31.98 |
| 1D performance | -0.63% | -0.37% |
| AuM | $6.36 B | $126.28 M |
| E/R | 0.31% | 0.29% |
TCAF | PHEQ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 80 | 156 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 15, 2023 | October 19, 2023 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the TCAF and PHEQ ETFs performed in 2026?
As of March 11, 2026, TCAF is down -2.8% year-to-date (YTD), while PHEQ has lost -0.52%. That puts PHEQ better performer ahead so far this year.
Which ETF is attracting more investor money: TCAF or PHEQ?
Year-to-date, the TCAF ETF saw +$221M in flows, compared to -$11M for PHEQ.
Which ETF is more volatile: TCAF or PHEQ?
Over the past year, TCAF had a volatility of 17.07%, while PHEQ experienced 10.57%.
Which ETF is bigger: TCAF or PHEQ?
As of March 11, 2026, TCAF holds $6.36 B in assets under management (AUM), while PHEQ manages $126.28 M.
What sectors do the TCAF and PHEQ ETFs invest in?
TCAF leans toward sectors like Information Technology, Health Care and Consumer Discretionary. Meanwhile, PHEQ focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the TCAF ETF and PHEQ ETF?
TCAF top holdings include NVIDIA, MICROSOFT-T and ALPHABET INC-CL. PHEQ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: TCAF or PHEQ?
TCAF holds 85 securities with 56.59% of its assets in the top 15. PHEQ has 164 securities and a top 15 weight of 47.6%.
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