T. Rowe Price Capital Appreciation Equity ETF
Actively managed U.S. stock ETF
As of its 2026 Q2 report, T. Rowe Price Capital Appreciation Equity ETF held 92 positions with $7.40B in net assets. Its ten largest holdings made up 40.9% of the fund. The TCAF share class costs 0.31% a year. Over the 12 months to May 2026, TCAF returned 23.2%, with dividends reinvested. In 2026 Q2 it added 18 new positions and exited 19.
The fund seeks to provide long-term capital growth.
The fund invests at least 80% of its net assets in equity securities, selecting stocks through bottom-up analysis of individual companies rather than macroeconomic forecasting. The adviser evaluates management quality, risk-adjusted return potential, market position, and valuation, with a core approach that does not emphasize growth or value style; the fund typically focuses on large U.S. companies but may purchase stocks of any size. The fund is nondiversified, meaning it may invest a greater percentage of its assets in a particular issuer than is permissible for a diversified fund. Because sector allocations result largely from individual stock selection rather than sector strategy, the fund may at times hold a significant portion of assets in a single economic sector.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AMZNAMAZON.COM INC | 5.83% | $431.30M | 1.8M | $238.34 |
NVDANVIDIA CORP | 5.30% | $392.41M | 2.0M | $200.09 |
MSFTMICROSOFT CORP | 5.14% | $380.25M | 1.0M | $373.02 |
AAPLAPPLE INC | 4.70% | $348.10M | 1.2M | $289.36 |
GOOGLALPHABET INC CL A | 4.36% | $322.57M | 902.6K | $357.37 |
4.18% | $309.08M | 548.7K | $563.29 | |
AVGOBROADCOM INC | 3.14% | $232.64M | 615.9K | $377.75 |
3.03% | $224.39M | 5.1M | $44.04 | |
2.65% | $196.31M | 337.9K | $580.91 | |
2.60% | $192.70M | 5.9M | $32.73 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 92 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.84% |
| Cash & short-term | 0.12% |
By sector
- Information Technology
- 28.6%
- Health Care
- 16.1%
- Consumer Discretionary
- 10.1%
- Communication Services
- 10.1%
- 8 other sectors
- 35.1%
- Information Technology
- 28.6%
- Health Care
- 16.1%
- Consumer Discretionary
- 10.1%
- Communication Services
- 10.1%
- Utilities
- 9.4%
- Financials
- 8.6%
- Industrials
- 5.5%
- International
- 4.0%
- Consumer Staples
- 3.8%
- Energy
- 2.0%
- Other
- 1.8%
- Cash
- 0.1%
How it has done
TCAF share class · total returns with dividends reinvested
Volatility over the last 12 months: 14.02%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
T. Rowe Price Capital Appreciation Equity ETF is an actively managed U.S. equity ETF. 18% of TCAF’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 92% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Features
- Non-diversified
- Expense ratio, by class
- 0.31%· TCAF 0.31%
- Portfolio turnover
- 29.30% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
18 new· the largest 8
19 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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- “Where do my funds overlap — TCAF, QQQ and the fund in my 401(k)?”
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