T. Rowe PriceIncomePremium Income#199 of 469 by YTD

T. Rowe Price Capital Appreciation Premium Income ETFTCAL

1D 1M 3M YTD 1Y3Y5YMAX

S&P 500 Compare

$23.10+0.1%

+$0.02 · Nov 6 close

Buy

AUM: $321M
Fee: 0.34%
Yield: 11.7%

Bumpy · 1Y: 0.8×S&P
Volume: 129K
NAV: $23.03

What's insideAll 365 →

VLTO 2.0%MA.BA 1.9%ABT 1.8%MSFT.NE 1.8%

52-week range5% below the high

$21.73$24.26

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.1%	+4.7%	+2.6%	+8.3%	+9.6%	—	—	+10.0%
Peer average	+0.8%	−5.4%	−1.7%	+6.2%	+7.6%	+45.5%	+21.4%	—
S&P 500 · VOO	+0.3%	−5.0%	−4.6%	+8.7%	+9.8%	+80.8%	+71.8%	—

TCAL in One Breath

TCAL Among Premium Income ETFs

YTD

#1MRNYYieldMax+529.4%$261M

#2XLEISPDR+29.1%$197M

#3SNOYYieldMax+24.8%$52.2M

#4XYZYYieldMax+19.5%$33.4M

#5TSMYYieldMax+19.2%$89.0M

#6PAPIEaton Vance+17.3%$551M

#7KBWYInvesco+15.7%$286M

#8XLVISPDR+14.5%$38.8M

#20TCALT. Rowe Price+8.3%$321M

End-of-day Nov 9, 2026 · 75 Premium income ETFs by YTD

$10,000 in TCAL

$10,000 in TCAL became

$11,000

In the S&P 500 (VOO)

$13,197

Total return, dividends in · Mar 27, 2025 – Nov 6, 2026 · S&P 500 uses VOO

TCAL’s Top Holdings

Today

VLTOVeralto 012.0%MA.BA1.9%ABT1.8%MSFT.NE1.8%GEHC1.7%AMZN.NE1.7%DTE1.5%IEX1.5%DHR1.5%BDX.SW1.4%WCN.TO1.4%LMT.BA1.4%MDT1.4%GILD.TO1.4%NOC1.4%RSG1.3%ANET1.3%AME1.3%WAT1.3%MSCI1.3%MCD.BA1.3%SPGI1.3%

VLTOVeralto 012.0%MA.BA1.9%ABT1.8%MSFT.NE1.8%GEHC1.7%AMZN.NE1.7%DTE1.5%IEX1.5%DHR1.5%BDX.SW1.4%WCN.TO1.4%LMT.BA1.4%

HealthcareIndustrialsTechnologyFinancial ServicesUtilitiesOther

T. Rowe Price TCAL · 70 holdings · top 22 shown · tile size = share of the fund · as of Nov 6, 2026

What TCAL Holds

Today

Healthcare23.1%

ABT 1.8 · GEHC 1.7 · DHR 1.5 · BDX.SW 1.4 · MDT 1.4 · GILD.TO 1.4 · WAT 1.3

Industrials17.6%

VLTO 2.0 · IEX 1.5 · WCN.TO 1.4 · LMT.BA 1.4 · NOC 1.4 · RSG 1.3 · AME 1.3

Technology14.4%

MSFT.NE 1.8 · ANET 1.3 · TDY 1.3 · TSM 1.3 · FTV 1.2 · AMD.BA 1.2 · SNPS 1.1

Financial Services14.6%

MA.BA 1.9 · MSCI 1.3 · SPGI 1.3 · ICE 1.2 · MRSH 1.2 · V.BA 1.2 · AJG 1.1

Utilities10.3%

DTE 1.5 · DUK 1.3 · ETR 1.3 · SO 1.0 · NI 1.0 · PPL · AEE

Consumer Defensive9.1%

COST.BA 1.1 · KDP · CHD · WMT.TO · PG · USFD · KO.BA

Consumer Cyclical6.8%

AMZN.NE 1.7 · MCD.BA 1.3 · YUM 1.2 · HD.NE · SCI

T. Rowe Price TCAL · share of the fund by sector · as of Nov 6, 2026

Veralto’s Share of TCAL

Today

2.0%

$20 of every $1,000 in TCAL is Veralto

Veralto held by TCAL

$6.3M

Most Veralto per dollar

TBLU8.8%

EFRA7.2%

CGW6.9%

EVX6.1%

T. Rowe Price TCAL · each square = $10 of $1,000 · as of Nov 6, 2026

TCAL’s Share of Premium Income ETFs

Today

0.3%

of the $111B in 92 Premium income ETFs

TCAL$321M0.3%

JEPI$45.2B40.6%

JEPQ$40.7B36.5%

89 others$25.2B22.6%

Premium income ETF AUM · Nov 9, 2026

TCAL Fee per $100 vs Peers

Today

$0.34a year
per $100

$34 a year on $10,000

TCAL$0.34

JEPI$0.35

JEPQ$0.35

GPIX$0.35

GPIQ$0.35

RDVI$0.75

Expense ratio · Premium income peers · Nov 9, 2026

Inside TCAL

70 holdings · as of Nov 6, 2026

TCAL

T. Rowe Price Capital Appreciation Premium Income ETF

Today

#	Ticker	Company	Weight ▼
1	VLTO	Veralto 01	1.97%
2	MA.BA	Mastercard A 0001	1.93%
3	ABT	Abbott Laboratories	1.83%
4	MSFT.NE	Microsoft 00000625	1.76%
5	GEHC	GE Healthcare Technology 01	1.71%
6	AMZN.NE	Amazon. 01	1.68%
7	DTE	DTE Energy Company	1.51%
8	IEX	Idex 01	1.50%
9	DHR	Danaher 01	1.45%
10	BDX.SW	Becton Dickinson AND Usd1.0	1.44%

See all 365 holdings ↓

HealthcareIndustrialsTechnologyFinancial ServicesUtilitiesConsumer DefensiveConsumer CyclicalCommunication ServicesEnergyBasic MaterialsOther

T. Rowe Price TCAL · current holdings by weight · as of Nov 6, 2026 · each tile is one holding · top 20 = 30.4%

All TCAL Holdings

365 holdings · as of Nov 6, 2026

TCAL

TCAL’s Holdings

Today

#
1	VLTOVeralto 01	Industrials	1.97%	$197.06	54K	$6.3M
2	MA.BAMastercard A 0001	Financial Services	1.93%	$192.91	9,428	$6.2M
3	ABTAbbott Laboratories	Healthcare	1.83%	$183.49	52K	$5.9M
4	MSFT.NEMicrosoft 00000625	Technology	1.76%	$175.86	11K	$5.6M
5	GEHCGE Healthcare Technology 01	Healthcare	1.71%	$170.60	65K	$5.5M
6	AMZN.NEAmazon. 01	Consumer Cyclical	1.68%	$167.69	21K	$5.4M
7	DTEDTE Energy Company	Utilities	1.51%	$151.14	36K	$4.8M
8	IEXIdex 01	Industrials	1.50%	$150.38	22K	$4.8M
9	DHRDanaher 01	Healthcare	1.45%	$145.45	21K	$4.7M
10	BDX.SWBecton Dickinson AND Usd1.0	Healthcare	1.44%	$143.59	22K	$4.6M
11	WCN.TOWaste Connections	Industrials	1.43%	$143.49	24K	$4.6M
12	LMT.BALockheed Martin Usd1.0	Industrials	1.40%	$139.76	7,776	$4.5M
13	MDTMedtronic 1	Healthcare	1.37%	$136.55	42K	$4.4M
14	GILD.TOGilead Sciences 001	Healthcare	1.36%	$136.44	26K	$4.4M
15	NOCNorthrop Grumman Usd1.0	Industrials	1.36%	$136.33	8,320	$4.4M

T. Rowe Price TCAL · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 6, 2026

How It Compares

TCAL

T. Rowe Price Capital Appreciation Premium Income ETF’s Peers

Today


JEPI	J.P. MorganRead Desk	0.35%	+0.1%	+8.2%	$45.2B
JEPQ	J.P. MorganRead Desk	0.35%	+1.2%	+4.5%	$40.7B
GPIX	Goldman SachsRead Desk	0.35%	+0.3%	+10.9%	$6.3B
GPIQ	Goldman SachsRead Desk	0.35%	+1.3%	+6.8%	$6.1B
RDVI	First TrustRead Desk	0.75%	−0.3%	+16.3%	$3.8B
TCAL	T. Rowe PriceThis fundRead Desk	0.34%	+0.1%	+9.6%	$321M

Premium income peers · Today’s and past-year returns · as of Nov 9, 2026 · sorted by AUM

Head to Head

Put TCAL head to head with JEPI →

JEPI vs TCAL

YTD

JEPIJ.P. Morgan · Premium incomeTCALT. Rowe Price · Premium income

Year to date

+5.3%

+8.3%

TCAL wins+3.0 pts

Past year

+8.2%

+9.6%

TCAL wins+1.4 pts

Fee

0.35%

0.34%

TCAL winslower fee

Yield

8.1%

11.7%

TCAL wins+3.6 pts

AUM

$45.2B

$321M

JEPI140.7× more

4–0TCAL wins

J.P. Morgan JEPI and T. Rowe Price TCAL · year-to-date · as of Nov 9, 2026 · AUM not scored

TCAL vs VOO

YTD

TCAL · T. Rowe Price Capital Appreciation Premium Income

+8.3%

VOO · S&P 500

+8.7%

Gap

0.4 pts

T. Rowe Price TCAL and Vanguard VOO · Today total return · as of Nov 9, 2026

TCAL vs Its Peer Average

YTD

TCALAvsBPeer average

1D+0.1%+0.8%

1M+4.7%−5.4%

3M+2.6%−1.7%

YTD+8.3%+6.2%

1Y+9.6%+7.6%

3Y[…]+45.5%

5Y[…]+21.4%

4–1TCAL wins

91 Premium income peers · each row scaled to its leader

How Bumpy Is TCAL?

View

TCAL

How Bumpy

0.8×the S&P 500’s swings

CalmerBumpierS&P 1×TCAL

Calm rank among 7 premium income funds#2

Other premium income funds0.6× to 1.4×

T. Rowe Price TCAL · daily swings over the past year vs the S&P 500

TCAL

Worst Drop

−7.0%from its Feb 27 high

Still below the high−1.8%

$10,000 at the high is now$9,820

T. Rowe Price TCAL · fall from the highest close, past year

TCAL

On a Bad Day

0.1×the S&P 500’s fall

TCAL’s worst day: Tuesday, Jul 21

TCAL

−2.6%

S&P 500

0.8%

Up days57 of every 100

S&P 500 up days52 of every 100

T. Rowe Price TCAL · average move on days the S&P 500 fell

TCAL

Return for the Bumps

1Y#3 of 7 premium income funds

#1RDVIFirst Trust

most for the bumps

#2BALIiShares

#3TCALT. Rowe Price

#4GPIXGoldman Sachs

#5JEPIJ.P. Morgan

calmest ride

#6GPIQGoldman Sachs

#7JEPQJ.P. Morgan

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

TCAL

Cost

Today

$34a year per $10,000

TCAL

$34

JEPI

$35

JEPQ

$35

GPIX

$35

GPIQ

$35

BALI

$35

RDVI

$75

Expense ratio 0.34%, taken from the fund’s value

TCAL

Volatility & Beta

10.2%annual volatility

S&P 500 volatility13.6%

Downside volatility7.2%

Beta vs SPY0.23

Correlation vs SPY0.30

Lowest beta of 7 premium income fundsTCAL

Daily total returns × √252 · past 254 trading days

TCAL

Max Drawdown

−7.0%peak to trough

Peak closeFeb 27, 2026

Current drawdown−1.8%

Worst day−2.62% · Jul 21

Closing prices, dividends in

TCAL

Up / Down Capture

13%down capture vs SPY

Down days

13%

Up days

23%

S&P 500

100%

Up ÷ down capture1.83

Up days57.1% (S&P 52.0%)

Average daily move on SPY up days and down days

TCAL

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
RDVI	0.93	1.39	14.1%	−8.5%	0.85	$75
BALI	0.71	0.99	11.4%	−6.7%	0.81	$35
TCAL	0.61	0.86	10.2%	−7.0%	0.23	$34
GPIX	0.54	0.75	11.9%	−7.7%	0.87	$35
JEPI	0.53	0.74	8.7%	−6.7%	0.47	$35
GPIQ	0.10	0.14	18.7%	−13.0%	1.28	$35
JEPQ	0.02	0.02	16.6%	−11.5%	1.11	$35

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

TCAL

Trading

Today

+0.30%above its holdings’ value

Close$23.10

NAV$23.03

Fee per $10,000$34 a year

Avg. volume 30D59K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 6

The Details

TCAL

Fund Facts

Today

2025launched Mar 26

Tracks[…]

Exchange · CUSIPAMEX · 87283Q784

StructureETF

Leverage1x

Cost on $10,000$34 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

T. Rowe Price TCAL · fund facts · as of Nov 9, 2026

TCAL

Payouts by Year

$0.26per share, Oct 2026

Distribution yield11.7%

PaidEvery month

Latest ex-date · paidOct 30 · Nov 3, 2026

12 payouts added up$2.50 a share

T. Rowe Price TCAL · distributions by ex-date · 2025–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-06-30 ↗SEC reported portfolio · 2026-03-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-12-31 ↗annual report · SEC N-CSR ↗SEC reported portfolio · 2025-09-30 ↗SEC reported portfolio · 2025-06-30 ↗SEC reported portfolio · 2025-03-31 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$23.03

Premium / discount[…]

Median spread · 30D[…]

Volume today129K

Average volume · 30D59K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.34%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$34.00

Our risk indicator3/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 30, 2026	Nov 3, 2026	$0.26
Sep 30, 2026	Oct 2, 2026	$0.18
Aug 31, 2026	Sep 2, 2026	$0.17
Jul 31, 2026	Aug 4, 2026	$0.25
Jun 30, 2026	[…]	$0.18
Jun 25, 2026	Jun 29, 2026	$0.18
May 26, 2026	May 28, 2026	$0.19
Apr 27, 2026	Apr 29, 2026	$0.21
Mar 26, 2026	Mar 30, 2026	$0.22
Feb 24, 2026	Feb 26, 2026	$0.18
Jan 27, 2026	Jan 29, 2026	$0.26
Dec 23, 2025	Dec 26, 2025	$0.22

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