T. Rowe Price Value ETF (TVAL) Performance
TVAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +23.3% since Dec 31, 2025
- 1 year
- +27.6% total return
- 3 years
- +22.6% a year
- Since first price
- +18.5% a year since 2023
TVAL trailing returns vs SPY, QQQ, AGG
| Period | TVAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.0% | +2.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.3% | +3.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +12.0% | +12.0% | +7.8% | +8.4% | −1.5% |
| YTD | +23.3% | +23.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +27.6% | +26.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +84.5%+22.6%/yr | +79.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJun 15, 2023 | +76.7%+18.5%/yr | +71.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TVAL vs SPY
From Jun 15, 2023: TVAL grew to $17,673, SPY to $17,934.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TVAL returns by calendar year
2 of 2 full years positive. Best 2025 (+15.6%), worst 2024 (+14.5%). 2026 is year to date.
TVAL annual returns table
| Year | TVAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +23.3% | −7.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.6% | −14.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.5% | −7.6% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TVAL largest drawdowns
Now 0.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 29, 2024 | −14.8% | Apr 8, 2025 | Jul 3, 2025 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TVAL risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +20.3% | +17.7% |
| Volatility (annualized) | 12.0% | 12.1% |
| Sharpe ratio | 1.24 | 1.04 |
| Sortino ratio | 2.23 | 1.82 |
| Best month | +9.1% | +9.1% |
| Worst month | −6.8% | −6.8% |
| Best 12 months | +31.6% | +31.6% |
| Worst 12 months | +6.4% | +6.4% |
| Positive months | 72% | 69% |
| Beta vs S&P 500 | 0.78 | — |
| Correlation with S&P 500 | 0.81 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TVAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 29 | +6.4% | +17.7% | +31.6% | 100% |
| 3-year (a year) | 5 | +18.4% | +20.0% | +22.7% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
TVAL performance overview
T. Rowe Price Value ETF (TVAL) returned +27.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +18.5% a year, turning $10,000 into about $17,673. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −14.8%, from Nov 29, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 12.1% a year.
Related: TVAL chart, TVAL holdings, TVAL dividends, TVAL valuation. See the TVAL overview for the latest quote and fund facts.
TVAL performance FAQ
What is the TVAL return over the past year?
TVAL returned +27.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 26.1%.
How much would $10,000 invested in TVAL be worth?
$10,000 invested in TVAL at its first recorded close on June 15, 2023 would be worth about $17,673 on October 23, 2026 with distributions reinvested.
What was the worst year for TVAL?
The worst calendar year was 2024, with a total return of +14.5%. The best was 2025 at +15.6%.
What is the biggest drawdown of TVAL?
The largest peak-to-trough decline was −14.8% between November 29, 2024 and April 8, 2025. It recovered to the old high on July 3, 2025, 3 months after the bottom.
How volatile is TVAL?
Over the past 3 years TVAL had an annualized volatility of 12.0% and a Sharpe ratio of 1.24 (excess return over 1–3 month T-bills per unit of risk).