T. Rowe Price Small-Mid Cap ETF
Actively managed U.S. stock ETF
As of its 2026 Q2 report, T. Rowe Price Small-Mid Cap ETF held 299 positions with $2.70B in net assets. Its ten largest holdings made up 9.8% of the fund. The TMSL share class costs 0.55% a year. Over the 12 months to May 2026, TMSL returned 33.1%, with dividends reinvested. In 2026 Q2 it added 63 new positions and exited 39.
The fund seeks to provide long-term capital growth.
The fund selects small- and mid-cap stocks through bottom-up analysis of individual companies, evaluating metrics such as returns on equity, valuation ratios, profitability, and earnings quality; it defines small- and mid-cap as companies below the maximum market capitalization represented in the Russell Midcap Index, MSCI USA Mid Cap Index, or MSCI World Mid Cap Index (after removing outliers), which as of December 31, 2025 was $98 billion. The fund invests primarily in U.S. equities with either growth or value characteristics, and sector allocations emerge largely from stock selection rather than top-down positioning. Because the fund's returns depend on the success of its individual stock picks, performance will diverge from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
BPOPPOPULAR INC | 1.18% | $31.94M | 194.6K | $164.18 |
MKSIMKS Inc | 1.13% | $30.54M | 68.7K | $444.80 |
MIDDMIDDLEBY CORP | 1.06% | $28.67M | 166.7K | $172.01 |
1.00% | $27.17M | 160.2K | $169.61 | |
0.98% | $26.54M | 39.8K | $666.90 | |
0.93% | $25.10M | 167.3K | $150.03 | |
0.89% | $24.06M | 128.6K | $187.08 | |
0.88% | $23.84M | 184.7K | $129.09 | |
RMBSRAMBUS INC | 0.88% | $23.66M | 178.2K | $132.74 |
AYIACUITY INC | 0.83% | $22.41M | 59.5K | $376.66 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
The 200 largest of 299 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.70% |
| Cash & short-term | 0.94% |
By sector
- Industrials
- 21.8%
- Health Care
- 16.3%
- Information Technology
- 16.2%
- Financials
- 14.4%
- 10 other sectors
- 31.3%
- Industrials
- 21.8%
- Health Care
- 16.3%
- Information Technology
- 16.2%
- Financials
- 14.4%
- Consumer Discretionary
- 7.2%
- Materials
- 5.2%
- Real Estate
- 5.2%
- Energy
- 4.9%
- International
- 3.1%
- Utilities
- 2.0%
- Consumer Staples
- 1.5%
- Communication Services
- 1.0%
- Cash
- 0.9%
- Other
- 0.4%
How it has done
TMSL share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.34%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
T. Rowe Price Small-Mid Cap ETF is an actively managed U.S. equity ETF. 27% of TMSL’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 89% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Expense ratio, by class
- 0.55%· TMSL 0.55%
- Portfolio turnover
- 43.30% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
63 new· the largest 8
39 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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