T. Rowe Price Small-Mid Cap ETF

Frequently Asked Questions About TMSL

What does TMSL invest in?

TMSLs adviser builds a broad and diverse portfolio of small- and mid-cap stocks with either growth or value characteristics, subject to overall risk controls. Securities are selected based on various metrics and active, bottom-up portfolio construction. The adviser evaluates individual stocks based on relative valuation, profitability, stability, earnings quality, management capital allocation actions, returns on equity, capital expenditure, projected growth rates, and near-term appreciation potential in comparison to others. Additionally, stocks are also evaluated using metrics that utilize price in relation to earnings, book value, sales, and cash flow. The fund may have substantial investments in the information technology sector.

What is the expense ratio of TMSL?

T. Rowe Price Small-Mid Cap ETF (TMSL) charges an expense ratio of 0.55%. This is the annual fee deducted from fund assets to cover management and operations.

How big is TMSL?

T. Rowe Price Small-Mid Cap ETF (TMSL) manages $3.19B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is TMSL actively managed or an index fund?

TMSL is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TMSL's is 0.55%) in exchange for the discretion to over- or under-weight positions.

When was TMSL launched?

T. Rowe Price Small-Mid Cap ETF (TMSL) launched in June 2023 and is managed by T. Rowe.

How has TMSL performed?

TMSL's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.