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Launched

T. Rowe Price Hedged Equity ETF

THEQNYSE ArcaT. Rowe PriceC

$29.95−0.06 (−0.22%)

As of Nov 2, 2026, 3:41 PM ET

C44/ 100

Rank 74 of 126 in US Active Equity

C44/100Rank 74 of 126inUS Active Equity
Intraday session: down, 69 prints from 30.01 to 29.95. Range 29.95 to 30.11. Use the arrow keys to read each point.29.9830.0530.0730.1010 AM12 PM2 PM4 PM
Expense ratio
0.73%
Fund size
$38M
1Y total return
+7.1%
Yield · Last 12 months
No data
Holdings
118
Avg volume · 30D
4.04K sh
52W range
low $26.77high $31.59
Launched

The ETF.net THEQ Grade

Based on 5 of 6 pillars

C

Score 44 out of 100

Category
US Active Equity⁠
Rank
74 of 126
Six-pillar profile for THEQ. Scores out of 100: Cost 41, Risk 72, Mission not scored, Tradability 36, Holdings 26, Durability 39. Strongest: Risk (72). Weakest: Holdings (26). Based on 5 of 6 pillars.

Score 44 of 100 falls in the C 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.
    C41 out of 100
    Rank 74 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A72 out of 100
    Rank 13 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 88 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D26 out of 100
    Rank 119 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D39 out of 100
    Rank 95 of 126

Our read on THEQ

ETF.net Research

In short

CMost hedged equity funds hand you a fixed buffer and a cap that resets on a calendar. THEQ skips that rulebook: an analyst-picked US stock portfolio with a discretionary derivatives overlay aimed at softening drawdowns.

Stated mandate

The fund seeks long-term capital growth. It combines an actively managed equity portfolio with futures, forwards, swaps, and index options intended to reduce volatility and mitigate losses during equity-market drawdowns.

Why people hold it

  • The hedge runs on judgment, not a calendar. Futures, forwards, swaps and index options are dialed up or down to damp volatility and cushion equity drawdowns, with no outcome-period resets.troweprice.com
  • The stock sleeve isn't an index clone. Most of it sits in T. Rowe's analyst-driven US Equity Research ETF (TSPA), which targets S&P 500-like characteristics through bottom-up picks.troweprice.com
  • One all-inclusive fee at the fund level covers investment management plus ordinary recurring operating expenses, so wrapper costs stay in a single number.troweprice.com

Worth knowing

  • At 0.73%, it runs above the 0.65% median for active US equity ETFs and well above cheap active core peers like FELC (0.18%) and DFAU (0.12%).
  • Young and thinly traded since its March 2025 debut, with a small asset base. Spreads can run wider than at long-established rivals.
  • The overlay is a trade-off: hedges cost money in calm markets, there's no defined floor or promised protection level, and distributions arrive once or twice a year.troweprice.com

THEQ Holdings

Holdings pillarD26 out of 100Rank 119 of 124 in US Active Equity
Asset class
Stocks
Holdings
118
Top-10 weight
99%
Largest holding
TSPA77.3%

Sectors

  • Technology38.1%
  • Financials12.6%
  • Health Care10.1%
  • Communication9.3%
  • Consumer Discretionary8.7%
  • Industrials7.3%
  • Consumer Staples4.8%
  • Energy3.6%
  • Utilities2.5%
  • Real Estate1.6%
  • Materials1.6%

Geography

  • United States98.08%
  • Canada0.73%
  • Switzerland0.60%
  • China0.22%
  • United Kingdom0.14%
  • Malaysia0.10%
  • Israel0.06%
  • Germany0.05%
  • Other countries (1)0.02%
The fund’s holdings, weight-ordered — page 1 of 8.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1TSPAT Rowe Price Us Equity Researc T Rowe Price Us Eqy Research77.31%634,690$30.8M2
2No dataUs 10YR Note (CBT)DEC26 Xcbt 2026122112.00%45$4.78M4
3No dataCash/Cash equivalent USD7.93%0$3.16M30
4MSIMotorola Solutions Inc Common Stock USD.010.28%228$112K373
5MSFT.NEMicrosoft Corp Common Stock USD.000006250.27%199$105K9
6CBChubb Ltd Common Stock0.25%279$101K298
7MCKMckesson Corp Common Stock USD.010.25%103$101K371
8CSCOCisco Systems Inc Common Stock USD.0010.24%885$96.1K585
9MA.BAMastercard Inc A Common Stock USD.00010.23%144$91.5K8
10NVDA.NENVIDIA Corp Common Stock USD.0010.22%406$86.7K8
11V.BAVisa Inc Class A Shares Common Stock USD.00010.21%203$83.3K10
12PGProcter & Gamble Co/The Common Stock0.20%494$79.3K441
13CLColgate Palmolive Co Common Stock USD1.00.20%851$79.3K373
14TDYTeledyne Technologies Inc Common Stock USD.010.19%114$77.2K266
15GILD.TOGilead Sciences Inc Common Stock USD.0010.19%456$75.5K8

Showing 1–15 of 118 holdings

THEQ Performance

Launched Mar 26, 2025

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.Not enough history yet.Not enough history yet.
THEQ$10,708
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. THEQ $10,708. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for THEQ. Periods over one year show the average yearly return.
PeriodTHEQ
Year to date+7.3%
1 month−0.2%
3 months+1.4%
1 year+7.1%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for THEQ
YearReturn barTHEQ
2026 YTD+7.3%
2025+12.8%

Since listing, Mar 26, 2025

THEQ in the news

THEQ Dividends

Last payment
$0.22 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.22. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 26, 2025$0.22

$10,000 in THEQ 1 year ago paid $78.58 in dividends.

THEQ Risk

Risk pillarA72 out of 100Rank 13 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
7.9%
Annualised · 19 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
1.13
vs 3-month T-bills · 19 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−8.1%
19 months · trough Apr 2025
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.

How strongly the fund’s returns move with its asset-class index.
0.67
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

THEQ Cost

Compare THEQ and TACU

Overpaying vs TACU, cheapest in US Active Equity

$14,133

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • THEQ 0.73%

    $14,133

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • THEQ 0.73%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530THEQ $14,133TACU $0

Year by year

YearTHEQTACUOverpaying
10$1,302$0$1,302
20$4,952$0$4,952
30$14,133$0$14,133

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