TCAF vs TILT
T. Rowe Price Capital Appreciation Equity ETF vs Northern Trust Morningstar US Market Factor Tilt ETF
Which is better, TCAF or TILT?
TILT has been ahead.
TILT has a lower expense ratio. TILT led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 39.4%.
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 | TCAF | TILT |
|---|---|---|
| Expense Ratio | 0.31% | 0.25%Best |
| AUM | $9.1B | $2.2B |
| Dividend Yield | 0.45% | 1.08% |
| Holdings | 101 | 1,929 |
| YTD Return | +13.46%Best | +11.74% |
| 1Y Return | +14.72% | +15.61%Best |
| 3Y Return (annualized) | +19.72% | +20.41%Best |
| 5Y Return (annualized) | - | +11.12% |
| Volatility (annualized) | 12.0%Best | 13.2% |
| Max Drawdown | -16.6%Best | -19.9% |
| $10,000 over 3.3 years | $16,964 | $17,103Best |
| Top 10 Weight | 39.4% | 27.1%Best |
| Fund Family | T.Rowe Price | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 14, 2023 | Sep 16, 2011 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Oct 14, 2026 (3.3 years).
TCAF vs TILT 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 3.3 years both funds cover.
TCAF vs TILT Performance
T. Rowe Price Capital Appreciation Equity ETF (TCAF) is an ETF from T.Rowe Price and Northern Trust Morningstar US Market Factor Tilt ETF (TILT) is an ETF from Northern Trust Asset Management. Over the past year TCAF returned +14.72% while TILT returned +15.61%. Year to date, TCAF is up 13.46% versus a gain of 11.74% for TILT.
Over three years, TCAF compounded at +19.72% per year against +20.41% for TILT.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TILT has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 12.0% 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 -16.6% for TCAF and -19.9% for TILT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TCAF charges 0.31% per year while TILT charges 0.25%. On a $10,000 position that is $31 vs $25 annually, a gap of $6 per year that compounds over a long holding period. On income, TCAF currently yields 0.45% against 1.08% for TILT.
Holdings Overlap
88.3% of TCAF's money is in holdings TILT also owns. 34.7% of TILT's money is in holdings TCAF also owns.
Most of TCAF is already inside TILT. Owning both mostly buys the same companies twice.
84 positions in common, counted across the 98 positions we hold weights for in TCAF and 1,904 in TILT, against full books of 101 and 1,929.
What only one of them owns
Our book lists 1,454 positions for TILT that do not appear in our book for TCAF (63.9% of the fund), and 8 for TCAF that do not appear in TILT (2.1%).
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 TCAF | Weight in TILT | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.52% | 5.56% | 0.04% |
| MSFTMicrosoft Corp | 6.01% | 3.93% | 2.08% |
| AAPLApple, Inc | 4.90% | 4.98% | 0.08% |
| AMZNAmazon.Com Inc | 5.02% | 2.53% | 2.49% |
| METAMeta Platforms Inc | 3.52% | 2.04% | 1.48% |
| GOOGLAlphabet Inc | 3.15% | 2.04% | 1.11% |
| AVGOBroadcom Inc | 3.30% | 1.66% | 1.64% |
| AMDAdvanced Micro Devices Inc | 2.66% | 1.03% | 1.63% |
| GOOGAlphabet Inc. C | 1.63% | 1.64% | 0.01% |
| MUMicron Technology, Inc. | 1.39% | 1.58% | 0.19% |
88.3% of TCAF is already inside TILT.
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, TCAF or TILT?
TCAF has an expense ratio of 0.31% while TILT charges 0.25%. TILT is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, TCAF or TILT?
Over the past year TCAF returned +14.72% vs +15.61% for TILT, so TILT leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCAF or TILT?
TILT has been the more volatile fund at 13.2% annualized versus 12.0% for TCAF. Worst drawdown: TCAF -16.6% vs TILT -19.9%.
Should I hold both TCAF and TILT?
TCAF and TILT have a monthly-return correlation of 0.94, 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 TCAF and TILT?
88.3% of TCAF's money is in holdings TILT also owns. 34.7% of TILT's is in holdings TCAF also owns. They hold 84 positions in common, counted across the 98 positions we hold weights for in TCAF and 1,904 in TILT.
Which pays a higher dividend, TCAF or TILT?
TCAF yields 0.45% while TILT yields 1.08%, so TILT currently pays the higher dividend yield.
Is TILT better than TCAF?
TILT has a lower expense ratio. TILT led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 39.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.