T. Rowe Price Small-Mid Cap ETF
T. Rowe Price Exchange-Traded Funds, Inc. · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q1
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.
| Share class | Expense ratio | As of |
|---|---|---|
| TMSL | 0.55% | 2025 Q1 |
Portfolio turnover 43.30% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.70% |
| Cash & short-term | 0.94% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Industrials | 21.8% |
| Health Care | 16.3% |
| Information Technology | 16.2% |
| Financials | 14.4% |
| 10 smaller | 31.3% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| BPOP | POPULAR INCBPOP | 1.18% | $164.18 | $31.94M | 194.6K |
| MKSI | MKS IncMKSI | 1.13% | $444.80 | $30.54M | 68.7K |
| MIDD | MIDDLEBY CORPMIDD | 1.06% | $172.01 | $28.67M | 166.7K |
| NVT | NVENT ELECTRIC PLCNVT | 1.00% | $169.61 | $27.17M | 160.2K |
| TDY | TELEDYNE TECHNOLOGIES INCTDY | 0.98% | $666.90 | $26.54M | 39.8K |
| GH | GUARDANT HEALTH INCGH | 0.93% | $150.03 | $25.10M | 167.3K |
| THC | TENET HEALTHCARE CORPTHC | 0.89% | $187.08 | $24.06M | 128.6K |
| EWBC | EAST WEST BANCORP INCEWBC | 0.88% | $129.09 | $23.84M | 184.7K |
| RMBS | RAMBUS INCRMBS | 0.88% | $132.74 | $23.66M | 178.2K |
| AYI | ACUITY INCAYI | 0.83% | $376.66 | $22.41M | 59.5K |
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.
Top 10 positions are 9.77% of net assets, top 25 21.45%, across 299 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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