T. Rowe Price Investment Management has added five new actively managed equity strategies to its ETF roster.
Tim Coyne, Global Head of ETFs at T. Rowe Price Investment Management.
Listed on NYSE Arca, the fully transparent funds leverage the firm’s fundamental research platform to deliver building-block strategies that focus on different elements of the global equity market.
The five funds are the T. Rowe Price Capital Appreciation Equity ETF (TCAF US), T. Rowe Price Growth ETF (TGRT US), T. Rowe Price Value ETF (TVAL US), T. Rowe Price Small-Mid Cap ETF (TMSL US), and T. Rowe Price International ETF (TOUS US).
Tim Coyne, Global Head of ETFs at T. Rowe Price Investment Management, said: “With the new addition of our first transparent active equity ETFs, we’ve expanded the ways we can give investors access to even more of T. Rowe Price’s best strategic investing ideas in the ETF wrapper.
“Backed by our world-class fundamental research, the new ETFs are developed with the ETF investor in mind and based on feedback directly from investors and advisors, as we continue to grow our ETF roster and deliver products that help meet clients’ range of investing needs.”
The ETFs
The T. Rowe Price Capital Appreciation Equity ETF invests in a diversified portfolio of US large-cap companies, selecting firms oriented to either growth or value characteristics. The fund seeks out companies with experienced and capable management, strong risk-adjusted return potential, leading or improving market position and proprietary advantages, and attractive relative market valuations. Its expense ratio is 0.31%.
The strategy is managed by David Giroux, Head of Investment Strategy and Chief Investment Officer at T. Rowe Price Investment Management who has 24 years of investing experience, all at T. Rowe Price. Giroux is a six-time nominee and two-time winner of an annual Morningstar award for excellence in portfolio management.
The four remaining ETFs are each managed by a team of portfolio managers headed up by Jodi Love, Vice President at T. Rowe Price Investment Management, who has 19 years of investment experience, including four at T. Rowe Price.
The T. Rowe Price Growth ETF invests in US large-cap stocks with above-average earnings, positive cash flow growth, and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth. Its expense ratio is 0.38%.
The T. Rowe Price Value ETF invests in US large-cap stocks that appear to be undervalued by various measures but are deemed to have good prospects for capital appreciation. Its expense ratio is 0.33%.
The T. Rowe Price Small-Mid Cap ETF invests broadly across mid and small-cap stocks listed in the US, selecting companies with either growth or value characteristics. Its expense ratio is 0.55%.
The T. Rowe Price International Equity ETF invests broadly across non-US developed markets globally as well as the market capitalization spectrum. The fund may select stocks with growth or value characteristics while remaining mindful of the global economic backdrop. Its expense ratio is 0.50%.
The new listings expand T. Rowe Price’s total ETF offering to 15 funds including five semi-transparent equity ETFs as well as five fully transparent fixed income ETFs.