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TACU vs WCAP

T. Rowe Price Active Core U.S. Equity ETF

TACUANYSE Arca

WarCap Unconstrained Equity ETF

WCAPFNYSE Arca

Overlap

8.8%by weight

Expense ratio

TACU −1.00pt a year

TACU0.00%WCAP1.00%

Avg volume · 30D

WCAP 2.6×the volume

TACU4.15KWCAP10.9K

TACU vs WCAP Performance

Dec 31, 2025 – Nov 2, 2026

+10.8%TACU−6.8%WCAP

Dec 31, 2025 to Nov 2, 2026. TACU +10.8%. WCAP −6.8%. Use the arrow keys to read each point.−10%0%5%15%Dec 2025Jun 2026Nov 2026
Expense ratio
TACU 0.00%, better
WCAP 1.00%
Fund size
TACU $17M
WCAP $59M
1Y total return
TACU No data
WCAP −7.8%
Holdings
TACU 411
WCAP 34
Avg volume (30D)
TACU 4.15K sh
WCAP 10.9K sh, better
NAV per share
TACU $27.68
WCAP $9.20
52W range

ETF.net Grade

TACU: Cost 99, Risk 69, Mission 81, Tradability 49, Holdings 83, Durability 43. WCAP: Cost 14, Risk 15, Mission 48, Tradability 20, Holdings 45, Durability 40.
Pillar letters and Scores for TACU, WCAP, with each pillar’s weight
PillarTACUWCAP
Cost30% weightA99HigherF14
Mission25% weightA81HigherC48
Risk15% weightB69HigherF15
Tradability15% weightC49HigherF20
Holdings10% weightA83HigherC45
Durability5% weightC43HigherC40

Rank among US Active Equity funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TACU and WCAP are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds
See all 121 ›

TACU ranks 9th and WCAP 117th of 121 funds in the US Active Equity Category.

  1. Rank 8AAPUEActivePassive U.S. Equity ETFScore 78
  2. Rank 9ATACUT. Rowe Price Active Core U.S. Equity ETFScore 77
  3. Rank 10APQUSPictet AI Enhanced US Equity ETFScore 76
  4. Rank 117FNLSINEOS Long/Short Equity Income ETFScore 21
  5. Rank 117FWCAPWarCap Unconstrained Equity ETFScore 21
  6. Rank 119FAINTFINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETFScore 17

Our read on each fund

ETF.net Research

TACUAT. Rowe Price Active Core U.S. Equity ETF

WCAPFWarCap Unconstrained Equity ETF

In short

TACU T. Rowe Price's quant-plus-fundamental take on core large-cap U.S. stock, benchmarked to the Russell 1000. Gross fee 0.14%, fully waived to zero through January 30, 2027.

WCAP Unconstrained means what it says: no index, no size box, just a Charleston stock picker roaming any market cap. A brand new, small active fund that asks you to back one manager's judgment, at a price above the active equity norm.

Stated mandate

TACU The fund seeks long-term capital growth through a primarily U.S. equity portfolio. It combines quantitative models with fundamental, bottom-up analysis and seeks excess returns relative to the Russell 1000 Index.

WCAP The Fund seeks long-term growth of capital.

Why people hold it

  • TACU Fee fully waived: 0.14% gross, zero net through January 30, 2027. That sits below every top-scoring peer in the category, including DFAU at 0.12% with no waiver.troweprice.com
  • Quant models feed bottom-up stock picking with tilts to profitability, quality and value, chasing excess return over the Russell 1000 while holding tracking error tight.troweprice.com
  • Several hundred large-cap names, so no single position runs the show. One of the stronger profiles in a crowded active U.S. equity field.troweprice.com
  • WCAP Genuinely go anywhere: at least 80% of net assets in equities of any market capitalization, actively managed with no index to follow.sec.govusnews.com
  • Freedom with guardrails: the fund is classified as diversified under the 1940 Act, so unconstrained does not mean a few outsized bets.sec.gov
  • You back a person, not a machine: Warren Capital Group, the Charleston firm Joe Warren founded in 2005, runs the portfolio.warcap.comsec.gov

Worth knowing

  • TACU Launched in December 2025, so the live record is short and the risk read rests on limited history.
  • Still a small fund that trades lightly, which can mean wider spreads than the category's giants.
  • Distributions are annual at most, with no declared income target. This is a growth mandate, not a cash-flow one.
  • WCAP Costs 1.00% a year against a 0.65% median for active US equity ETFs; top ranked peers like DFAU and AVLC charge under 0.20%.
  • Small and lightly traded, so the gap between bid and ask can be wide and sizable orders can push the price around.
  • Launched September 2025, so there is no full market cycle to judge yet, and on cost, size and trading it sits in its peer group's bottom quartile.

Full TACU profile⁠

Full WCAP profile⁠

TACU vs WCAP Holdings

How TACU and WCAP differ

Overlap by weight

8.8%

Shared holdings make up 34.6% of WCAP and 8.8% of TACU.

Level by level

  • Holdings12 in both8.8%
  • Countryby domicile97.1%
  • Asset classEquity100%

Sector

No Sector split for TACU and WCAP.

Country, concentration and asset class

Country by domicile

Country weights in TACU and WCAP, widest gap first
CountryMore in TACUMore in WCAP
NetherlandsWCAP +2.9 points
United StatesTACU +1.4 points
Other countries (9)TACU +1.5 points

Concentration

Weight in the 10 largest Holdings

  • TACU34.8%
  • WCAP48.9%

Securities held

  • TACU408
  • WCAP33

Asset class

TACU
Equity
WCAP
Equity

Holdings

  • Only in TACU396
  • In both12
  • Only in WCAP21

Only in TACU

396 securities, 91.0% of TACU by weight

  • NVIDIA Corp Common Stock USD.0017.09%
  • Apple Inc Common Stock USD.000016.95%
  • Microsoft Corp Common Stock USD.000006255.65%

Only in WCAP

21 securities, 56.4% of WCAP by weight

  • Microsoft Corporation5.05%
  • Amazon.com, Inc4.95%
  • Apple, Inc.4.58%

Weight gaps

All 12 Holdings in both funds, largest gap first.

Holding weights in TACU and WCAP, widest gap first
HoldingMore in TACUMore in WCAP
Bank of New York Mellon Corp Common StockBNYWCAP +4.60 points
Union Pacific Corp Common Stock USD2.5UNPWCAP +2.83 points
Alphabet Inc Class A Common Stock USD.001GOOGLWCAP +2.73 points
Amgen Inc Common Stock USD.0001AMGNWCAP +2.18 points
Berkshire Hathaway Inc Class B Common Stock USD.0033BRK.BWCAP +2.10 points
Space Exploration Techn Class A Common Stock USD.001SPCXWCAP +2.10 points
Live Nation Entertainment In Common Stock USD.01LYVWCAP +2.06 points
Robinhood Markets Inc A Common Stock USD.0001HOODWCAP +2.02 points

All TACU holdings⁠All 32 WCAP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TACU vs WCAP Cost

Overpaying WCAP vs TACU

$18,688

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TACU 0.00%

    $0

  • WCAP 1.00%

    $18,688

$10,000
30 years

Cost over time

  • TACU 0.00%
  • WCAP 1.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530WCAP $18,688TACU $0

Year by year

YearTACUWCAPOverpaying
10$0$1,763$1,763
20$0$6,625$6,625
30$0$18,688$18,688

Expense ratio

  • 0.00%TACU, cheaper
  • 1.00%WCAP
  • Middle half of US Active Equity funds
  • Median 0.68%

TACU cheapest of 121 funds

WCAP 104th cheapest of 121 funds

TACU vs WCAP Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
TACU None
WCAP No data
Last payment
TACU No data
WCAP $0.0036
Ex-dividend
TACU No data
WCAP Dec 30, 2025
Paid on
TACU No data
WCAP Dec 31, 2025
Frequency
TACU No data
WCAP Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

TACUAll TACU payments⁠

No distribution history available.

WCAPIrregular · 1 paymentAll WCAP payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.0036. Use the arrow keys to read each point.$0$0.00252026YTD

TACU vs WCAP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TACU No dataWCAP 12.1%since Oct 2025
Return per unit of riskSharpe ratio, 3 years
TACU No dataWCAP −0.84since Oct 2025
Worst fallMax drawdown, 5 years
TACU No dataWCAP −15.9%since Sep 2025
Market sensitivityBeta, 5 years
TACU 0.96WCAP 0.70

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