TVAL vs VLLU
T. Rowe Price Value ETF vs Harbor AlphaEdge Large Cap Value ETF
Which is better, TVAL or VLLU?
TVAL has been ahead.
VLLU has a lower expense ratio. TVAL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. TVAL is less concentrated, with 29.8% of the fund in its ten largest positions against 37.4%.
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 | TVAL | VLLU |
|---|---|---|
| Expense Ratio | 0.33% | 0.25%Best |
| AUM | $1.1B | $5M |
| Dividend Yield | 0.97% | 1.35% |
| Holdings | 155 | 75 |
| Volatility (annualized) | 12.9% | 10.7%Best |
| Max Drawdown | -15.8%Best | -16.6% |
| $10,000 over 2 years | $14,149Best | $13,865 |
| Top 10 Weight | 29.8%Best | 37.4% |
| Fund Family | T.Rowe Price | Harbor Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 14, 2023 | Sep 3, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 47 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. TVAL has data through Oct 14, 2026 and VLLU through Aug 28, 2026.
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 5, 2024 to Aug 28, 2026 (2 years).
Risk: Volatility and Drawdowns
TVAL has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 10.7% for VLLU. 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 -15.8% for TVAL and -16.6% for VLLU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TVAL charges 0.33% per year while VLLU charges 0.25%. On a $10,000 position that is $33 vs $25 annually, a gap of $8 per year that compounds over a long holding period. On income, TVAL currently yields 0.97% against 1.35% for VLLU.
Holdings Overlap
29.8% of TVAL's money is in holdings VLLU also owns. 38.7% of VLLU's money is in holdings TVAL also owns.
The two portfolios partly overlap.
The two holdings books were reported 76 days apart, TVAL as of Sep 14, 2026 and VLLU as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
29 positions in common, counted across the 148 positions we hold weights for in TVAL and 74 in VLLU, against full books of 155 and 75.
What only one of them owns
Our book lists 41 positions for VLLU that do not appear in our book for TVAL (58.8% of the fund), and 111 for TVAL that do not appear in VLLU (65.5%).
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 TVAL | Weight in VLLU | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.78% | 3.51% | 2.27% |
| JNJJohnson & Johnson - Common | 1.82% | 4.75% | 2.93% |
| BACBank of America Corp.: Financials | 1.02% | 3.30% | 2.28% |
| BKBank Of New York Mellon Corp | 0.33% | 3.39% | 3.06% |
| VVisa Inc Class A | 0.54% | 3.14% | 2.60% |
| TELTE Connectivity PLC Common Stock | 0.51% | 2.52% | 2.01% |
| XOMExxonmobil Corp. | 2.02% | 0.68% | 1.34% |
| COPConocophillips Common Stock USD 0.01 | 1.94% | 0.57% | 1.37% |
| JPMJpmorgan Chase | 1.74% | 0.58% | 1.16% |
| BMYBristol-Myers Squibb Co. | 0.43% | 1.87% | 1.44% |
38.7% of VLLU is already inside TVAL.
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, TVAL or VLLU?
TVAL has an expense ratio of 0.33% while VLLU charges 0.25%. VLLU is the cheaper option, by $8 a year on a $10,000 investment.
Which is riskier, TVAL or VLLU?
TVAL has been the more volatile fund at 12.9% annualized versus 10.7% for VLLU. Worst drawdown: TVAL -15.8% vs VLLU -16.6%.
Should I hold both TVAL and VLLU?
TVAL and VLLU have a monthly-return correlation of 0.91, 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 TVAL and VLLU?
38.7% of VLLU's money is in holdings TVAL also owns. 38.7% of VLLU's is in holdings TVAL also owns. They hold 29 positions in common, counted across the 148 positions we hold weights for in TVAL and 74 in VLLU.
Which pays a higher dividend, TVAL or VLLU?
TVAL yields 0.97% while VLLU yields 1.35%, so VLLU currently pays the higher dividend yield.
Is VLLU better than TVAL?
VLLU has a lower expense ratio. TVAL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. TVAL is less concentrated, with 29.8% of the fund in its ten largest positions against 37.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.