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TPUT

GradeANew York Stock Exchange Arca

T. Rowe Price Capital Appreciation Market Opportunities ETF

Option Income · T. Rowe · Inception 2026-06-10

$25.25−0.01 (−0.06%)

As of Sep 23, 2026, 1:48 PM EDT

History starts Jun 11, 2026.History starts Jun 11, 2026.History starts Jun 11, 2026.
Intraday session: down, 5 prints from 25.27 to 25.25. Range 25.21 to 25.26. Use the arrow keys to read each point.$25.22$25.24$25.2610 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$30M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$25.20
52W range
low $24.94high $25.39

The ETF.net TPUT Grade

A

73/ 100

Rank 8 of 52 in S&P 500 Option Income⁠

Confidence Medium

Six-pillar profile for TPUT. Scores out of 100: Cost 96, Risk 99, Mission not scored, Tradability 21, Holdings not scored, Durability 23. Strongest: Risk (99). Weakest: Tradability (21). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 73 of 100 sits in the A 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 96
    Category rank3/52 · top 6%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 99
    Category rank1/52 · top 2%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 21
    Category rank49/52 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 23
    Category rank50/52 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on TPUT

ETF.net Research

AMost S&P 500 income ETFs sell calls on stocks they own. This one sells puts instead: premiums up front, equity exposure only if the market falls to the strike. Giroux's Capital Appreciation team runs it for 0.25%.

Stated mandate

The fund seeks current income while retaining the potential for capital appreciation.

Why people hold it

  1. 01Writes out-of-the-money put options on the S&P 500 or SPY rather than calls on a stock portfolio, a different income engine from the covered-call funds that fill this cohort.sec.gov
  2. 02At 0.25%, it sits in the cheapest tier of S&P 500 options-income ETFs, level with IVVW and materially under XYLD and SPYI.troweprice.com
  3. 03Seven T. Rowe Price managers run it, including David Giroux, using the Capital Appreciation strategy's dynamic asset allocation model to time the writing.troweprice.com
  4. 04Stated goal is current income while retaining the potential for capital appreciation, with the written puts as the on-ramp into stocks at lower prices.sec.gov

Worth knowing

  1. 01Put writing trades away the melt-up: if the index keeps climbing, the fund keeps the premium, not the rally.sec.gov
  2. 02If the index settles below the strike, the fund owes the shortfall less the premium collected, the same math as owning at that price.troweprice.com
  3. 03A 2026 launch, small and thinly traded so far, which can mean wider spreads. Distributions may include return of capital.

TPUT Holdings

As of Sep 20, 2026, 7:24 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
Cash/Cash equivalent USD89.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash/Cash equivalent USD89.02%0$27M29
002—TREASURY BILL 09/26 0.0000010.67%3,224,000$3M3
003—TREASURY BILL 10/26 0.000000.67%202,000$201K2

Showing 1–3 of 3 holdings

TPUT Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TPUT$10,165
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. TPUT $10,165. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

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.

Trailing total return for TPUT. Periods over one year show the average yearly return.
PeriodTPUT
Year to dateFund launched this year—
1 month+0.5%
3 months+1.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 TPUT
YearReturn barTPUT
2026 YTD+2.0%

History from Jun 11, 2026

TPUT in the news

ETF.net Research hasn’t filed on TPUT yet — coverage lands here as it’s written.

TPUT 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 Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.11 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 3 payments in 2026 YTD. Jun 30, 2026 $0.05; Jul 31, 2026 $0.13; Aug 31, 2026 $0.11. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Aug 31, 2026Sep 2, 2026$0.11
Jul 31, 2026Aug 4, 2026$0.13
Jun 30, 2026Data unavailable$0.05

TPUT Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jun 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 Jun 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 Jun 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.
0.00
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.

TPUT Cost

Expense ratio0.25%
  • The middle half of S&P 500 Option Income funds
  • Median 0.60%

1 of the 51 S&P 500 Option Income funds charge less.

TPUT costs $25.00 a year on $10,000. The median S&P 500 Option Income fund costs $60.00.