How TCAF's Research-Based Active ETF Approach Stands Out
The active ETF ecosystem has exploded in recent years. In fact, active ETFs have contributed over 80% of the new launches this year alone, and are picking up major flows relative to their AUM.
TCAF: Recent Gains Are Encouraging, But Valuation Remains A Concern
T. Rowe Price Capital Appreciation Equity ETF retains a 'hold' rating due to elevated valuations versus growth and lack of clear outperformance versus SPY. TCAF's active management shifted 40 positions in eight months, but sector reallocations and portfolio changes have not improved its relative valuation metrics against SPY. Despite a contrarian GARP approach and sector tilts—overweight Health Care and utilities—TCAF's factor mix and performance remain closely correlated to SPY.
T. Rowe Price ETFs: TKNZ Tops Returns, TCAF Draws Most Cash
A crypto fund and a technology fund posted the best September returns among T. Rowe Price ETFs.
Active Stock Funds Chase Income as Yields Sink
Investors seeking income are moving into active stock funds. The category gathered $36 billion in July, according to State Street Investment Management.
Top Active ETF TCAF Spikes After Milestone en Route to $10 Billion
The T. Rowe Price Capital Appreciation Equity ETF (TCAF) has stood out in recent years, and recently saw a major milestone. The active ETF hit its three-year ETF milestone last month, rising approximately $1 billion in AUM since that date.
TCAF: A Few Factor Improvements Since April, Yet Outperformance Still Unlikely, A Hold
T Rowe Price Capital Appreciation Equity ETF is an actively managed vehicle seeking "long-term capital growth." Portfolio recalibrations made since April have boosted TCAF's growth and GARP characteristics, making its overall factor profile more competitive compared to IVV. However, I see a few quality issues, plus its exposure to the low volatility factor is likely to restrain upside capture, hindering it from beating IVV.
Leading Active ETF TCAF Crosses $7 Billion AUM Milestone
The active ETF landscape has exploded in popularity over the recent years. The arrival of the 2019 ETF Rule has streamlined the launch process, enabling asset managers to bring innovative new strategies to market more efficiently.
TCAF: I Remain A Skeptic Owing To Mostly Disappointing Performance, Factor Mix
T Rowe Price Capital Appreciation Equity ETF is managed actively, with its goal being "to provide long-term capital growth." I believe TCAF will likely trail IVV this year owing to mostly weaker growth and GARP characteristics of its portfolio, as well as larger exposure to low beta names. TCAF's past performance is unconvincing. Over July 2023–March 2026, it underperformed IVV by 3.18% in annualized return as it captured only 86.79% of its upside.
Top Active ETF TCAF on Track for Major Milestone This Summer
Active ETFs have made waves in recent years, already outpacing passive ETFs in several key metrics this year. With rapid launches and notable flows, active ETFs have become a bigger and bigger part of investors' portfolios.
Active ETFs Again Set AUM Record in February
Key Takeaways Active ETFs again set global AUM record seeing huge jumps Active ETFs have produced net inflows for a remarkable 71 consecutive months Total active ETF AUM up 11.6% YTD Active ETFs have taken on a new level of significance in the ETF landscape, once again setting a record.
Advisors Seek Active ETFs as Market Concentration Rises
Financial advisors are turning to active ETFs as a solution to navigating concentrated markets. Recent survey data reveals that fundamental research and strong performance top their priority lists.
TCAF: Actively Managed Large-Cap Fund Not Yet Pulling Its Weight
TCAF is an actively managed large/mid-cap ETF led by David Giroux. Its expense ratio is 0.31% and the fund has $6.4B in assets under management since its launch in mid-2023. Using a bottom-up stock selection strategy, TCAF aims to outperform the S&P 500 Index with less risk. However, it's trailed SPY by nearly 12%, with volatility being only marginally lower. The ~2.5-year measurement period is short, and my returns distribution analysis indicates this period is highly unusual. A greater frequency of down months could help TCAF gain some ground.
