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Launched

T. Rowe Price Innovation Leaders ETF

TNXTNasdaqT. Rowe PriceB

$27.49−1.01 (−3.55%)

At close: Nov 2, 2026, 4:00 PM ET

B65/ 100

Rank 6 of 30 in Disruptive Innovation

B65/100Rank 6 of 30inDisruptive Innovation
Intraday session: down, 79 prints from 28.50 to 27.49. Range 27.49 to 28.03. Use the arrow keys to read each point.27.8028.0028.2010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$19M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
261
Avg volume · 30D
684 sh
52W range
low $21.63high $29.33
Launched

The ETF.net TNXT Grade

Based on 5 of 6 pillars

B

Score 65 out of 100

Category
Disruptive Innovation⁠
Rank
6 of 30
Six-pillar profile for TNXT. Scores out of 100: Cost 81, Risk 88, Mission not scored, Tradability 23, Holdings 72, Durability 25. Strongest: Risk (88). Weakest: Tradability (23). Based on 5 of 6 pillars.

Score 65 of 100 falls in the B 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.
    A81 out of 100
    Rank 4 of 30

  • 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.
    A88 out of 100
    Rank 3 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F23 out of 100
    Rank 28 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A72 out of 100
    Rank 9 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D25 out of 100
    Rank 26 of 30

Our read on TNXT

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Jan 28, 2026

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.Not enough history yet.Not enough history yet.
TNXT$10,261
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. TNXT $10,261. SPY $10,141. Use the arrow keys to read each point.$10,000$10,250$10,500$10,750Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 TNXT. Periods over one year show the average yearly return.
PeriodTNXT
Year to dateFund launched this yearNo data
1 month−3.0%
3 months+2.6%
1 yearFund is under 1 year oldNo data
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 TNXT
YearReturn barTNXT
2026 YTD+12.0%

History from Jan 29, 2026

TNXT in the news

TNXT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Jan 2026. No distributions yet.

TNXT Risk

Risk pillarA88 out of 100Rank 3 of 30 in Disruptive Innovation
How much the fund’s monthly returns vary, scaled to a year.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
1.22
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.

TNXT Cost

Compare TNXT and KOMP

Overpaying vs KOMP, cheapest in Disruptive Innovation

$5,637

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

  • TNXT 0.49%

    $9,792

  • KOMP 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • TNXT 0.49%
  • KOMP 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TNXT $9,792KOMP $4,155

Year by year

YearTNXTKOMPOverpaying
10$883$365$518
20$3,394$1,421$1,973
30$9,792$4,155$5,637

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