T. Rowe Price Small-Mid Cap ETF
$41.30−0.28 (−0.69%)
History starts Jun 15, 2023.
- Expense ratio
- 0.55%
- Fund size
- $3.0B
- 1Y return
- +18.4%
- Yield · Last 12 months
- 0.49%
- Holdings
- 288
- Volume · 30D
- 0.4M sh
- NAV per share
- $41.39
- 52W range
The ETF.net TMSL Grade
Score 60 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 54Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 38Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 73Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 84Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 87Category rank
Our read on TMSL
BT. Rowe Price's small- and mid-cap stock pickers, in an ETF wrapper since 2023. Roughly 300 hand-chosen names aimed at long-term capital growth, priced under the typical active US equity fund.
The fund seeks long-term capital growth.
Why people hold it
- Charges 0.55% a year against a 0.65% median for active US equity ETFs. Below-average freight for a shop that still pays humans to pick the stocks.
- Roughly 300 holdings, which is broad for an active portfolio. No single small-cap name carries the whole fund.
- One of the smoother active funds in its group to trade, with assets in the billions since its 2023 launch. Getting in and out is rarely the sticking point.
- Stacks up as one of the stronger overall builds in a crowded field of active US equity ETFs.
Worth knowing
- Small and mid caps move harder in both directions than large caps. Risk is the softest part of this fund's profile, so the ride is bumpier than a total-market holding.
- Index-tracking rivals in the same cohort, like DFAC and AVLC, run near 0.15%. The extra cost here buys stock selection, not market exposure.
- No declared benchmark on file to measure it against, so results hinge on the managers' calls. Distributions land once or twice a year, not monthly.
TMSL Holdings
- Stocks
- 288
- 10%
- THC
Sectors
- Technology18.5%
- Health Care17.1%
- Industrials16.8%
- Financials16.2%
- Consumer Discr.9.8%
- Energy6.3%
- Real Estate6.2%
- Materials4.5%
- Cons. Staples2.0%
- Utilities1.8%
- Communication0.9%
Geography
- United States88.83%
- United Kingdom3.07%
- Bermuda2.35%
- Canada1.24%
- Puerto Rico1.16%
- Israel0.85%
- Thailand0.44%
- Netherlands0.42%
- 1.63%
TMSL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
TMSL$11,838
Returns run to the Sep 22, 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 | TMSL |
|---|---|
| Year to date | +15.8% |
| 1 month | −4.6% |
| 3 months | −4.5% |
| 1 year | +18.4% |
| 3 years | +19.6% |
| 5 years | — |
| 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 | TMSL |
|---|---|---|
| 2026 YTD | +15.8% | |
| 2025 | +12.0% | |
| 2024 | +15.8% | |
| 2023 | +11.2% |
TMSL in the news
TMSL Dividends
- 0.49%
- $0.20
- $0.20 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 23, 2025 | Dec 26, 2025 | $0.20 |
| Dec 23, 2024 | Dec 26, 2024 | $0.14 |
| Dec 20, 2023 | Dec 26, 2023 | $0.09 |
TMSL Risk
- 16.8%
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.
- 0.84
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.
- −24.4%
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.
- 1.09
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TMSL Cost
0.55%
TMSL0.55%
- The middle half of US Active Small/Mid-Cap funds
- Median 0.55%
20 of the 47 US Active Small/Mid-Cap funds charge less.