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TVAL vs VSLU

T. Rowe Price Value ETF

TVALANYSE Arca

Applied Finance Valuation Large Cap ETF

VSLUCNYSE Arca

Overlap

Expense ratio

TVAL −0.16pt a year

TVAL0.33%VSLU0.49%

Avg volume · 30D

TVAL 3.8×the volume

TVAL102KVSLU26.7K

3Y return · a year

VSLU +0.8pt

TVAL+22.9%VSLU+23.7%

TVAL vs VSLU Performance

Oct 31, 2025 – Oct 30, 2026

+28.7%TVAL+12.5%VSLU

Oct 31, 2025 to Oct 30, 2026. TVAL +28.7%. VSLU +12.5%. Use the arrow keys to read each point.0%20%Oct 2025Apr 2026Oct 2026
Expense ratio
TVAL 0.33%, better
VSLU 0.49%
Fund size
TVAL $1.12B
VSLU $578M
1Y total return
TVAL +28.7%, better
VSLU +12.5%
Yield (12M)
TVAL 0.93%, better
VSLU 0.42%
Holdings
TVAL 142
VSLU 442
Avg volume (30D)
TVAL 102K sh, better
VSLU 26.7K sh
NAV per share
TVAL $43.67
VSLU $49.50
52W range

ETF.net Grade

TVAL: Cost 81, Risk 71, Mission not scored, Tradability 56, Holdings 74, Durability 66. VSLU: Cost 57, Risk 46, Mission 74, Tradability 45, Holdings 39, Durability 56.
Pillar letters and Scores for TVAL, VSLU, with each pillar’s weight
PillarTVALVSLU
Cost30% weightA81HigherB57
Mission25% weightNot scoredA74
Risk15% weightA71HigherC46
Tradability15% weightB56HigherC45
Holdings10% weightA74HigherD39
Durability5% weightB66HigherB56

Rank among US Active Contrarian Value funds

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

Same Category. TVAL and VSLU are both graded against the same 8 US Active Contrarian Value funds, so their Grades compare head to head.

US Active Contrarian Value⁠

Category · 8 funds
See all 8 ›

TVAL ranks 2nd and VSLU 5th of 8 funds in the US Active Contrarian Value Category.

  1. Rank 1ADFALDimensional US Large Cap Core Equity Market ETFScore 76
  2. Rank 2ATVALT. Rowe Price Value ETFScore 72
  3. Rank 3BCSTKInvesco Comstock Contrarian Equity ETFScore 65
  4. Rank 4BBKDVBNY Mellon Dynamic Value ETFScore 58
  5. Rank 5CVSLUApplied Finance Valuation Large Cap ETFScore 49
  6. Rank 6CVAMOCambria Value and Momentum ETFScore 44

Our read on each fund

ETF.net Research

TVALAT. Rowe Price Value ETF

VSLUCApplied Finance Valuation Large Cap ETF

In short

TVAL T. Rowe Price's value discipline in an ETF wrapper since 2023: roughly 150 hand-picked large-cap names judged undervalued on multiple financial measures, benchmarked to the Russell 1000 Value, at about half the fee of the typical active equity ETF.

VSLU Applied Finance has been estimating what companies are actually worth since 1995. VSLU runs that engine on US large caps: own the ones trading below its intrinsic-value estimate, for less than the typical active fund charges.

Stated mandate

TVAL The fund seeks long-term capital appreciation through an actively managed portfolio primarily invested in common stocks.

VSLU The Fund’s stated objective is long-term capital appreciation.

Why people hold it

  • TVAL 0.33% a year, roughly half the median for active US equity ETFs. Real stock picking without the classic active price tag.troweprice.com
  • Genuine conviction, not closet indexing: about 150 large-cap, value-oriented stocks chosen by fundamental research, measured against the Russell 1000 Value.troweprice.com
  • Sits in the top tier of a peer group of hundreds of active US equity ETFs, one of the stronger all-round builds in a crowded aisle.
  • VSLU Charges 0.49% a year, below the 0.65% median for active US equity funds. Cheap fuel for an active strategy.
  • The engine is Applied Finance's Economic Margin framework, which strips accounting distortions to measure what a firm earns above or below its cost of capital.appliedfinance.comappliedfinance.com 2
  • Stock-picking with a leash: an active mandate for long-term capital appreciation, measured against the Morningstar US Large-Mid Cap Index.
  • Running since 2021 and one of the stronger overall showings in our active US equity group.

Worth knowing

  • TVAL Cheap for an active fund, not cheap outright. Systematic peers like DFAU (0.12%) and AVLC (0.15%) cover US equity for less than half the cost.
  • Launched in 2023, so the ETF's own record is short next to the long-running value funds it competes with.troweprice.com
  • Built for long-term capital growth, not a paycheck: distributions are annual, and the fund discloses that part of a payout can be return of capital.
  • VSLU Thinly traded compared with the category's giants, so bid-ask spreads can be wider, especially in fast markets.
  • Cheap for active, not cheap outright: systematic peers like DFAU (0.12%) and AVLC (0.15%) charge roughly a third as much.
  • A value discipline means the portfolio can look very different from a cap-weighted index, and its results can diverge for long stretches.

Full TVAL profile⁠

Full VSLU profile⁠

TVAL vs VSLU 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.

TVAL vs VSLU Cost

Overpaying VSLU vs TVAL

$3,055

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

  • TVAL 0.33%

    $6,737

  • VSLU 0.49%

    $9,792

$10,000
30 years

Cost over time

  • TVAL 0.33%
  • VSLU 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530VSLU $9,792TVAL $6,737

Year by year

YearTVALVSLUOverpaying
10$598$883$285
20$2,318$3,394$1,076
30$6,737$9,792$3,055

Expense ratio

  • 0.33%TVAL, cheaper
  • 0.49%VSLU
  • Middle half of US Active Contrarian Value funds
  • Median 0.54%

TVAL 2nd cheapest of 8 funds

VSLU 4th cheapest of 8 funds

TVAL vs VSLU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TVAL 0.93%, better
VSLU 0.42%
Payout (12M)
TVAL $0.41
VSLU $0.20
Last payment
TVAL $0.41
VSLU $0.20
Ex-dividend
TVAL Dec 23, 2025
VSLU Dec 24, 2025
Paid on
TVAL Dec 26, 2025
VSLU Dec 26, 2025
Frequency
TVAL Annual
VSLU Annual

Distribution history

Per share, 2021 to 2026, same scale for both

TVALAnnual · 3 paymentsAll TVAL payments⁠
One bar per payment. 3 payments from 2021 to 2026 YTD. Dec 20, 2023 $0.17; Dec 23, 2024 $0.36; Dec 23, 2025 $0.41. Use the arrow keys to read each point.$0$0.2520232026YTD
VSLUAnnual · 5 paymentsAll VSLU payments⁠
One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 27, 2021 $0.16; Dec 27, 2022 $0.23; Dec 26, 2023 $0.18; Dec 24, 2024 $0.22; Dec 24, 2025 $0.20. Use the arrow keys to read each point.$0$0.2520232026YTD

TVAL vs VSLU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TVAL 11.8%VSLU 11.6%, better
Return per unit of riskSharpe ratio, 3 years
TVAL 1.44VSLU 1.53, better
Worst fallMax drawdown, 5 years
TVAL −14.8%since Jun 2023VSLU −23.9%
Market sensitivityBeta, 5 years
TVAL 0.80VSLU 0.95

Popular comparisons

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