TVAL vs VMAX
T. Rowe Price Value ETF vs Hartford US Value ETF
Which is better, TVAL or VMAX?
TVAL has been ahead.
VMAX has a lower expense ratio. TVAL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. VMAX is less concentrated, with 19.0% of the fund in its ten largest positions against 29.8%.
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 | TVAL | VMAX |
|---|---|---|
| Expense Ratio | 0.33% | 0.29%Best |
| AUM | $1.1B | $3M |
| Dividend Yield | 0.97% | 2.17% |
| Holdings | 155 | 127 |
| YTD Return | +20.77%Best | +16.66% |
| 1Y Return | +27.42%Best | +21.02% |
| 3Y Return (annualized) | +20.43% | - |
| Volatility (annualized) | 11.7%Best | 12.2% |
| Max Drawdown | -15.8%Best | -19.1% |
| $10,000 over 2.9 years | $16,988Best | $16,927 |
| Top 10 Weight | 29.8% | 19.0%Best |
| Fund Family | T.Rowe Price | Hartford Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 14, 2023 | Dec 5, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Dec 6, 2023 to Oct 14, 2026 (2.9 years).
TVAL vs VMAX 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 2.9 years both funds cover.
TVAL vs VMAX Performance
T. Rowe Price Value ETF (TVAL) is an ETF from T.Rowe Price and Hartford US Value ETF (VMAX) is an ETF from Hartford Funds. Over the past year TVAL returned +27.42% while VMAX returned +21.02%. Year to date, TVAL is up 20.77% versus a gain of 16.66% for VMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VMAX has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 11.7% for TVAL. 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 -19.1% for VMAX. 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
TVAL charges 0.33% per year while VMAX charges 0.29%. On a $10,000 position that is $33 vs $29 annually, a gap of $4 per year that compounds over a long holding period. On income, TVAL currently yields 0.97% against 2.17% for VMAX.
Holdings Overlap
49.9% of TVAL's money is in holdings VMAX also owns. 42.3% of VMAX's money is in holdings TVAL also owns.
The two portfolios partly overlap.
44 positions in common, counted across the 148 positions we hold weights for in TVAL and 125 in VMAX, against full books of 155 and 127.
What only one of them owns
Our book lists 78 positions for VMAX that do not appear in our book for TVAL (56.5% of the fund), and 96 for TVAL that do not appear in VMAX (45.4%).
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 VMAX | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.78% | 1.32% | 4.46% |
| AMZNAmazon.Com Inc | 6.50% | 0.59% | 5.91% |
| MSFTMicrosoft Corp | 5.15% | 0.31% | 4.84% |
| COPConocophillips Common Stock USD 0.01 | 1.94% | 1.30% | 0.64% |
| XOMExxonmobil Corp. | 2.02% | 1.06% | 0.96% |
| JNJJohnson & Johnson - Common | 1.82% | 0.89% | 0.93% |
| JPMJpmorgan Chase | 1.74% | 0.97% | 0.77% |
| METAMeta Platforms Inc | 0.63% | 1.98% | 1.35% |
| EOGEog Resources Inc | 0.59% | 2.01% | 1.42% |
| GILDGilead Sciences | 1.20% | 1.34% | 0.14% |
49.9% of TVAL is already inside VMAX.
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 VMAX?
TVAL has an expense ratio of 0.33% while VMAX charges 0.29%. VMAX is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, TVAL or VMAX?
Over the past year TVAL returned +27.42% vs +21.02% for VMAX, so TVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TVAL or VMAX?
VMAX has been the more volatile fund at 12.2% annualized versus 11.7% for TVAL. Worst drawdown: TVAL -15.8% vs VMAX -19.1%.
Should I hold both TVAL and VMAX?
TVAL and VMAX 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 TVAL and VMAX?
49.9% of TVAL's money is in holdings VMAX also owns. 42.3% of VMAX's is in holdings TVAL also owns. They hold 44 positions in common, counted across the 148 positions we hold weights for in TVAL and 125 in VMAX.
Which pays a higher dividend, TVAL or VMAX?
TVAL yields 0.97% while VMAX yields 2.17%, so VMAX currently pays the higher dividend yield.
Is VMAX better than TVAL?
VMAX has a lower expense ratio. TVAL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. VMAX is less concentrated, with 19.0% of the fund in its ten largest positions against 29.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.