T. Rowe Price Innovation Leaders ETF
$28.78−0.44 (−1.51%)
- Expense ratio
- 0.49%
- Fund size
- $20M
- 1Y return
- —
- Yield · Last 12 months
- —
- Volume · 30D
- 0M sh
- NAV per share
- $29.02
- 52W range
The ETF.net TNXT Grade
Score 66 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.AScore 78Category 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.AScore 87Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 34Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 71Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 26Category rank
Our read on TNXT
BT. Rowe Price's answer to disruptive innovation is the un-concentrated one: an active book of roughly 150 to 250 innovators across tech, healthcare and financials, priced under the typical thematic fund.
The fund seeks long-term capital growth by investing in companies leading innovation and developing advanced technologies, products, or services. Its approach combines evaluation of innovation-driven growth trends with fundamental, bottom-up company analysis.
Why people hold it
- A 0.49% expense ratio puts an actively managed, research-driven thematic fund below the median fee in its disruptive-innovation peer group.troweprice.com
- Anticipates 150 to 250 holdings, spreading the theme across a broad roster instead of a handful of high-conviction names.troweprice.com
- Innovation is not treated as a tech-only story: the mandate spans technology, healthcare and financials, with room to follow new ideas into other industries.troweprice.com
- Two portfolio managers from T. Rowe Price's Multi-Asset Division run it, pairing top-down innovation-trend work with bottom-up company research.troweprice.com
Worth knowing
- Launched in 2026, so there is no long track record yet and risk readings rest on a short history.
- Assets and trading are still small, which can mean wider spreads than the category's heavily traded names.
- Index-based peers such as KOMP charge 0.20%, so the extra fee here buys active stock picking rather than cheap beta.
TNXT Holdings
- Stocks
- —
- 34%
- NVDA.NE
Geography
- United States84.16%
- Japan2.55%
- Netherlands2.30%
- United Kingdom1.85%
- Germany1.10%
- Taiwan (Province of China)1.09%
- France1.08%
- Ireland0.66%
- 5.22%
TNXT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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 | TNXT |
|---|---|
| Year to date | — |
| 1 month | +2.4% |
| 3 months | +6.6% |
| 1 year | — |
| 3 years | — |
| 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 | TNXT |
|---|---|---|
| 2026 YTD | +17.6% |
TNXT in the news
ETF.net Research hasn’t filed on TNXT yet — coverage lands here as it’s written.
TNXT Dividends
Listed Jan 2026. No distributions yet.
TNXT Risk
- —
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.
- —
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.
- —
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.
- 1.23
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TNXT Cost
- The middle half of Disruptive Innovation funds
- Median 0.65%
4 of the 31 Disruptive Innovation funds charge less.