DYNF vs TCAF

DYNFAiShares U.S. Equity Factor Rotation Active ETF

TCAFAT. Rowe Capital Appreciation Equity ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

TCAF The all-equity expression of T. Rowe's Capital Appreciation playbook: about 100 US large caps picked bottom-up for quality and price, no bond sleeve, at a fee well under the typical active equity ETF.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

TCAF The fund seeks long-term capital growth through an actively managed portfolio of equity securities.

Why people hold it

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• TCAF Costs 0.31% a year, under half the 0.65% median for its active US equity peer group.
• Roughly 100 US large caps, narrowed by screening out poor capital allocators, overpriced names and businesses facing secular headwinds, per T. Rowe's own process notes.troweprice.com
• A multi-billion-dollar fund and one of the busier names in the active equity crowd, which typically shows up as tight spreads at the point of trade.
• Launched in 2023 under veteran manager David Giroux, and it stands among the strongest implementations in a crowded active US equity field.troweprice.com

Worth knowing

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• TCAF About 100 names, with heavier weights in the highest-conviction picks. Results can wander well away from the broad US market in either direction.troweprice.com
• Equity only, no bond sleeve. It rides the full swing of a large-cap selloff.troweprice.com
• Cheap for active, not cheap outright: systematic peers like DFAU (0.12%) and AVLC (0.15%) charge less.

Full DYNF profile⁠

Full TCAF profile⁠