T. Rowe Price U.S. Equity Research ETF

Frequently Asked Questions About TSPA

What does TSPA invest in?

TSPA invests in US-listed companies in an attempt to provide exposure similar to its benchmark, the S&P 500 an index composed of the 500 largest publicly traded US firms. The fund aims to be sector neutral by weighting each industry close to the index, while seeking to outperform it by overweighting or underweighting individual holdings based on fundamental research, which measures how favorable each stock is. Unlike other ETFs that publish full portfolio holdings daily, TSPA publishes a proxy portfolio on its website. The proxy portfolio is a basket of securities designed to closely track the fund performance and may help facilitate arbitrage opportunities. Holdings will generally be disclosed 15 calendar days after each quarter-end. Take note of its non-transparent structure that could result in wider spreads

What is the expense ratio of TSPA?

T. Rowe Price U.S. Equity Research ETF (TSPA) charges an expense ratio of 0.34%. This is the annual fee deducted from fund assets to cover management and operations.

How big is TSPA?

T. Rowe Price U.S. Equity Research ETF (TSPA) manages $4.61B 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 TSPA actively managed or an index fund?

TSPA is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TSPA's is 0.34%) in exchange for the discretion to over- or under-weight positions.

When was TSPA launched?

T. Rowe Price U.S. Equity Research ETF (TSPA) launched in June 2021 and is managed by T. Rowe.

How has TSPA performed?

TSPA'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.