FSST vs TCAF
Fidelity Sustainable US Equity ETF vs T. Rowe Price Capital Appreciation Equity ETF
Which is better, FSST or TCAF?
Nearly the same fund. TCAF costs less.
TCAF has a lower expense ratio. FSST led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. TCAF is less concentrated, with 39.4% of the fund in its ten largest positions against 43.8%.
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 | FSST | TCAF |
|---|---|---|
| Expense Ratio | 0.59% | 0.31%Best |
| AUM | $13M | $9.1B |
| Dividend Yield | 1.55% | 0.45% |
| Holdings | 90 | 101 |
| Volatility (annualized) | 14.5% | 11.5%Best |
| Max Drawdown | -22.4% | -16.6%Best |
| $10,000 over 2.4 years | $15,032Best | $15,004 |
| Top 10 Weight | 43.8% | 39.4%Best |
| Fund Family | Fidelity Investments (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 15, 2021 | Jun 14, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 335 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FSST has data through Nov 13, 2025 and TCAF through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.4 years row, are measured over the window both funds cover: Jun 15, 2023 to Nov 13, 2025 (2.4 years).
Risk: Volatility and Drawdowns
FSST has been the more volatile fund, with annualized monthly volatility of 14.5% compared with 11.5% for TCAF. 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 -22.4% for FSST and -16.6% for TCAF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSST charges 0.59% per year while TCAF charges 0.31%. On a $10,000 position that is $59 vs $31 annually, a gap of $28 per year that compounds over a long holding period. On income, FSST currently yields 1.55% against 0.45% for TCAF.
Holdings Overlap
49.8% of FSST's money is in holdings TCAF also owns. 45.3% of TCAF's money is in holdings FSST also owns.
The two portfolios partly overlap.
The two holdings books were reported 410 days apart, FSST as of Jul 31, 2025 and TCAF as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
21 positions in common, counted across the 94 positions we hold weights for in FSST and 98 in TCAF, against full books of 90 and 101.
What only one of them owns
Our book lists 70 positions for TCAF that do not appear in our book for FSST (44.5% of the fund), and 67 for FSST that do not appear in TCAF (46.3%).
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 FSST | Weight in TCAF | Difference |
|---|---|---|---|
| NVDANVIDIA Corporation | 8.95% | 5.52% | 3.43% |
| MSFTMicrosoft Corp | 7.00% | 6.01% | 0.99% |
| AAPLApple, Inc | 5.57% | 4.90% | 0.67% |
| AMZNAmazon.Com Inc | 5.21% | 5.02% | 0.19% |
| METAMeta Platforms Inc Class A | 4.37% | 3.52% | 0.85% |
| GOOGLAlphabet Inc Cl A | 3.89% | 3.15% | 0.74% |
| JPMJpmorgan Chase & Co | 2.43% | 1.46% | 0.97% |
| MAMastercard Inc. Cl A | 1.75% | 2.04% | 0.29% |
| AVGOBroadcom Inc | 0.37% | 3.30% | 2.93% |
| ALNYAlnylam Pharmac.. | 0.85% | 2.26% | 1.41% |
49.8% of FSST is already inside TCAF.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FSST or TCAF?
FSST has an expense ratio of 0.59% while TCAF charges 0.31%. TCAF is the cheaper option, by $28 a year on a $10,000 investment.
Which is riskier, FSST or TCAF?
FSST has been the more volatile fund at 14.5% annualized versus 11.5% for TCAF. Worst drawdown: FSST -22.4% vs TCAF -16.6%.
Should I hold both FSST and TCAF?
FSST and TCAF have a monthly-return correlation of 0.96, 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 FSST and TCAF?
49.8% of FSST's money is in holdings TCAF also owns. 45.3% of TCAF's is in holdings FSST also owns. They hold 21 positions in common, counted across the 94 positions we hold weights for in FSST and 98 in TCAF.
Which pays a higher dividend, FSST or TCAF?
FSST yields 1.55% while TCAF yields 0.45%, so FSST currently pays the higher dividend yield.
Is TCAF better than FSST?
TCAF has a lower expense ratio. FSST led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. TCAF is less concentrated, with 39.4% of the fund in its ten largest positions against 43.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.