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.
T. Rowe Price Capital Appreciation Equity ETF TCAF
Morningstar’s Analysis TCAF
Will TCAF outperform in the future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 39.9
|
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
|---|---|---|---|
Microsoft Corp | 6.61 | 619M | Technology |
NVIDIA Corp | 5.59 | 524M | Technology |
Amazon.com Inc | 5.37 | 503M | Consumer Cyclical |
Apple Inc | 4.64 | 435M | Technology |
Meta Platforms Inc Class A | 3.71 | 348M | Communication Services |
Advanced Micro Devices Inc | 3.18 | 298M | Technology |
Alphabet Inc Class A | 3.02 | 283M | Communication Services |
Broadcom Inc | 3.02 | 283M | Technology |
CenterPoint Energy Inc | 2.51 | 235M | Utilities |
Taiwan Semiconductor Manufacturing Co Ltd ADR | 2.25 | 211M | Technology |
United States