Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
T. Rowe Price Total Return ETF
$38.34+0.07 (+0.18%)
- 0.31%
- $565M
- −1.8%
- 5.45%
- 0M sh
- $38.24
- low $38.00high $41.33
The ETF.net TOTR Grade
B
Score 61 out of 100
- 57 of 117
Score 61 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.C53 out of 100Rank 53 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C51 out of 100Rank 34 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D37 out of 100Rank 86 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C45 out of 100Rank 82 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C54 out of 100Rank 63 of 117
Our read on TOTR
BT. Rowe Price's counterpunch to the three-basis-point index crowd: a core bond fund run by managers, not a benchmark, chasing total return with income first and price gains second across roughly 900 holdings.
The fund seeks to maximize total return primarily through income and secondarily through capital appreciation.
Why people hold it
- At 0.31%, it undercuts the typical fund in its aggregate-bond category, unusual for a portfolio steered by managers instead of an index.
- The portfolio tracks its stated job closely: maximize total return, income first, capital appreciation second. That discipline puts it in the upper half of a crowded category.
- Roughly 900 bond positions, and the payout cadence is monthly rather than quarterly.
Worth knowing
- The index heavyweights (BND, SPAB, SCHZ) charge 0.03%. Active management here runs about ten times that, a gap the managers have to work off.
- It trades thinly next to the household-name trackers, so spreads can run wider and large orders move the quote more.
- Launched in 2021, so its live record covers one rate cycle, not a full range of bond market weather.
TOTR Holdings
- Bonds
- 1,301
- 29%
- Us 2YR Note (Cbt) DEC26 Xcbt 20261231
Sectors
- Financials67.7%
- Technology17.1%
- Communication4.9%
- Consumer Discretionary4.7%
- Consumer Staples1.8%
- Health Care1.6%
- Industrials1.2%
- Materials0.4%
- Utilities0.4%
- Energy0.2%
- Real Estate0.1%
Geography
- United States86.10%
- United Kingdom1.93%
- Mexico1.32%
- Luxembourg1.08%
- Canada0.99%
- Romania0.63%
- Argentina0.54%
- France0.54%
- 6.88%
TOTR 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.
TOTR$9,820
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 | TOTR |
|---|---|
| Year to date | −2.4% |
| 1 month | −1.4% |
| 3 months | −2.7% |
| 1 year | −1.8% |
| 3 years | +4.9% |
| 5 years | −0.7% |
| 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 | TOTR |
|---|---|---|
| 2026 YTD | −2.4% | |
| 2025 | +7.4% | |
| 2024 | +2.4% | |
| 2023 | +6.3% | |
| 2022 | −15.9% | |
| 2021 | +0.1% |
TOTR in the news
TOTR Dividends
- 5.45%
- $2.09
- $0.16 per share
- Monthly
Distribution history
TOTR Risk
- 5.6%
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.
- 0.01
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.
- −19.6%
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.
- 1.00
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TOTR Cost
0.31%
TOTR0.31%
- The middle half of US Aggregate Bond funds
- Median 0.34%
50 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BCORBAB Active ETFs, Inc. - AB Core Bond ETFExpense ratio 0.28%1 year return —
- BBLSTBluemonte Short Term Bond ETFExpense ratio 0.28%1 year return 0.0%
- BVCOBVoya Core Bond ETFExpense ratio 0.25%1 year return —
- BGTOSInvesco Short Duration Total Return Bond ETFExpense ratio 0.31%1 year return +2.7%
- BUBNDVictoryShares Core Plus Bond ETFExpense ratio 0.45%1 year return −1.7%