Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
T. Rowe Price QM U.S. Bond ETF
$40.72+0.04 (+0.10%)
- 0.08%
- $2.7B
- −1.7%
- 4.67%
- 0.3M sh
- $40.61
- low $40.30high $43.72
The ETF.net TAGG Grade
A
Score 75 out of 100
- 17 of 117
Score 75 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A87 out of 100Rank 14 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A99 out of 100Rank 59 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D39 out of 100Rank 83 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B59 out of 100Rank 34 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B64 out of 100Rank 51 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A71 out of 100Rank 33 of 117
Our read on TAGG
AActive bond management at index-fund pricing. T. Rowe Price runs quant models plus human credit research across roughly 600 U.S. investment-grade bonds, aiming to beat the Agg rather than copy it, for 0.08% a year.
The fund seeks total returns above the U.S. investment-grade bond market by investing primarily in U.S. bonds and using quantitative models alongside fundamental bond research.
Why people hold it
- 0.08% a year, a fraction of the typical fund in the aggregate-bond group and within shouting distance of plain index trackers. Rare pricing for an actively run portfolio.
- The mandate is to exceed the Bloomberg U.S. Aggregate Bond Index, not mirror it, using quantitative models alongside fundamental bond research.troweprice.com
- Roughly 600 investment-grade U.S. bonds under one ticker, with distributions paid monthly.
- Live since 2021 and now a multi-billion-dollar fund, and it does what its prospectus describes closely enough to rank among the stronger builds in a crowded core-bond field.
Worth knowing
- Active means drift. Sector and credit weights can sit away from the index, so returns can land on either side of the Agg.
- Straight index exposure to the same market costs less: BND, SPAB and SCHZ each charge 0.03%.
- It is a bond fund, so it moves with interest rates and carries credit risk, including possible loss of principal.troweprice.com
TAGG Holdings
- Bonds
- 1,887
- 17%
- S45209929 Cds USD R F 1.00000 5745209929FEE Ccpcdx
Sectors
- Technology52.7%
- Communication15.2%
- Consumer Discretionary14.3%
- Consumer Staples5.5%
- Health Care5.0%
- Industrials3.5%
- Materials1.3%
- Utilities1.3%
- Energy0.6%
- Financials0.6%
- Real Estate0.2%
Geography
- United States90.48%
- Canada2.40%
- United Kingdom1.75%
- Netherlands0.85%
- Spain0.64%
- Mexico0.48%
- Japan0.46%
- Poland0.45%
- 2.48%
TAGG Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
TAGG$9,830
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TAGG |
|---|---|
| Year to date | −2.3% |
| 1 month | −1.0% |
| 3 months | −2.5% |
| 1 year | −1.7% |
| 3 years | +4.8% |
| 5 years | −0.4% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TAGG |
|---|---|---|
| 2026 YTD | −2.3% | |
| 2025 | +7.4% | |
| 2024 | +1.7% | |
| 2023 | +5.7% | |
| 2022 | −13.7% | |
| 2021 | 0.0% |
TAGG in the news
TAGG Dividends
- 4.67%
- $1.90
- $0.16 per share
- Monthly
Distribution history
TAGG Risk
- 5.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.01
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −18.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.00
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAGG Cost
0.08%
TAGG0.08%
- The middle half of US Aggregate Bond funds
- Median 0.34%
15 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- AFLCBFranklin U.S. Core Bond ETFExpense ratio 0.15%1 year return −2.0%
- ASCCRSchwab Core Bond ETFExpense ratio 0.16%1 year return −1.9%
- ADFCFDimensional - Core Fixed Income ETFExpense ratio 0.18%1 year return −1.9%
- AEUSBiShares ESG Advanced Universal USD Bond ETFExpense ratio 0.12%1 year return −1.6%
- AVPLSVanguard Core-Plus Bond ETFExpense ratio 0.20%1 year return −1.3%