Morningstar

T. Rowe Price Capital Appreciation Equity ETF TCAF

Morningstar Medalist Rating
Medalist Rating as of | See T. Rowe Price Investment Hub

Morningstar’s Analysis TCAF

Will TCAF outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TCAF’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TCAF management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of TCAF’s parent organization’s priorities and whether they’re in line with investors’ interests.

No market for GARP managers.

Senior Principal Jason Kephart

Jason Kephart

Senior Principal

Summary

For most of the past 15 years, it felt like David Giroux had a cheat code to investing success, but since T. Rowe Price Capital Appreciation Equity launched in June 2023, it’s as if the game has patched him out. Performance over the exchange-traded fund’s first three years has fallen short of expectations. Even so, investors would be wise to stick with this strategy as Giroux and his team navigate their first extended period of underperformance, because the solid leadership and strong underlying approach remain intact.

by Jason Kephart
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Portfolio Holdings TCAF

More TCAF Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 39.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Microsoft Corp

7.21 632M
Technology

Amazon.com Inc

5.65 495M
Consumer Cyclical

NVIDIA Corp

5.53 485M
Technology

Apple Inc

5.02 440M
Technology

Alphabet Inc Class A

3.14 275M
Communication Services

CenterPoint Energy Inc

2.90 254M
Utilities

Advanced Micro Devices Inc

2.88 252M
Technology

Meta Platforms Inc Class A

2.68 235M
Communication Services

Cencora Inc

2.28 200M
Healthcare

Keurig Dr Pepper Inc

2.27 199M
Consumer Defensive

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