The folks at a publicly traded, $1.62-trillion-AUM*, 88-year-old, Maryland fund firm are rolling out another trio of active ETFs. The triple launch boosts the asset manager's five-year-old active ETF business to 22 funds in total, which includes 6 fixed income funds and 16 stock funds.

Timothy John "Tim" Coyne T. Rowe Price Head of Exchange-Traded Funds

Last Thursday (June 12), Tim Coyne, global head of exchange-traded funds at T. Rowe Price [profile], unveiled the debut of:

the T. Rowe Price Financials ETF (TFNS on the Nasdaq);

the T. Rowe Price Health Care ETF (TMED); and

the T. Rowe Price Natural Resources ETF (TURF).

Baltimore-based T. Rowe Price Associates, Inc. serves as investment advisor to all three new ETFs.

TURF, TMED, and TFNS' inception date was last Wednesday (June 11), and the funds each come with same expense ratio, 44 basis points. TFNS now has $9.9 million in AUM, TMED has $9.93 million, and TURF has $10.24 million**.

TURF's subadvisors include T. Rowe Price Australia Limited and T. Rowe Price International Ltd. The new ETF's PM team is led by Richard de Los Reyes, co-portfolio manager and chair of the fund's investment advisory committee. The PM team also icnludes four other co-PMs:

Shinwoo Kim;

Priyal Maniar;

John Corbin Qian; and

Thomas Alexander Shelmerdine.

(Kim and de los Reyes also already co-PM a 56-year-old, open-end, natural resources mutual fund, called the T. Rowe Price New Era Fund.)

TMED's subadvisor is T. Rowe Price Investment Management, Inc. The new ETF has two co-PMs who also co-chair its investment advisory committee. Those PMs are Sal Rais and Jon Wood.

TFNS is run by a two-person team. The new ETF's PM team includes Gregory Locraft, portfolio manager, and Matthew Snowling, lead PM and chair of fund's investment advisory committee. Snowling and Locraft also already co-PM a 29-year-old, open-end mutual fund called the T. Rowe Price Financial Services Fund.)

Coyne describes last week's new ETFs as a reflection of the T. Rowe team's "ongoing commitment to deliver an array of active ETFs that meet the evolving needs of ... clients."

"We remain focused on growing our active ETF business and look forward to continuing to build it with compelling investing ideas and the best thinking of T. Rowe Price active managers," Coyne states.

TFNS, TMED, and TURF are each actively managed, non-diversified series of T. Rowe Price Exchange-Traded Funds, Inc.. The new ETFs' other service providers include:

PricewaterhouseCoopers LLP as independent accounting firm;

State Street Corporation as custodian, fund accounting agent, securities lending agent, and transfer agent;

T. Rowe Price Investment Services, Inc. as distributor; and

Willkie Farr & Gallagher LLP as counsel.

*As of May 31, 2025.
**As of yesterday (June 16, 2025). 

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