T. Rowe Price Innovation Leaders ETF
$28.86−0.14 (−0.47%)
- 0.49%
- $20M
- 0M sh
- $29.14
- low $21.63high $29.33
The ETF.net TNXT Grade
B
Score 64 out of 100
- 7 of 31
Score 64 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.A78 out of 100Rank 5 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A86 out of 100Rank 2 of 31Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D26 out of 100Rank 28 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B69 out of 100Rank 10 of 31Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D26 out of 100Rank 27 of 31
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
- 280
- 35%
- NVDA.NE
Geography
- United States85.43%
- Netherlands2.16%
- United Kingdom2.04%
- Japan1.88%
- Germany1.16%
- Taiwan (Province of China)1.02%
- Switzerland0.67%
- Australia0.63%
- 5.02%
TNXT 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.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
TNXT$10,347
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 | TNXT |
|---|---|
| Year to date | — |
| 1 month | +2.4% |
| 3 months | +3.5% |
| 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 | +16.5% |
TNXT in the news
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.
- 1.22
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
0.49%
TNXT0.49%
- The middle half of Disruptive Innovation funds
- Median 0.65%
4 of the 31 Disruptive Innovation funds charge less.
Other funds in Disruptive Innovation
- BFDTXFidelity Disruptive Technology ETFExpense ratio 0.50%1 year return +46.8%
- BANEWProShares - MSCI Transformational Changes ETFExpense ratio 0.45%1 year return +7.9%
- BDTECALPS Disruptive Technologies ETFExpense ratio 0.50%1 year return +2.9%
- BFRWDNomura Transformational Technologies ETFExpense ratio 0.65%1 year return —
- BFWDAlliance Bernstein - AB Disruptors ETFExpense ratio 0.65%1 year return +30.8%