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Launched

T. Rowe Price Capital Appreciation Market Opportunities ETF

TPUTNYSE ArcaT. Rowe PriceA

$25.11+0.04 (+0.18%)

As of Nov 2, 2026, 3:49 PM ET

A72/ 100

Rank 9 of 52 in S&P 500 Option Income

A72/100Rank 9 of 52inS&P 500 Option Income
Intraday session: up, 72 prints from 25.07 to 25.11. Range 25.07 to 25.14. Use the arrow keys to read each point.25.0825.1025.1225.1410 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$101M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
6.57K sh
52W range
low $24.94high $25.39
Launched

The ETF.net TPUT Grade

Based on 4 of 6 pillars

A

Score 72 out of 100

Category
S&P 500 Option Income⁠
Rank
9 of 52
Six-pillar profile for TPUT. Scores out of 100: Cost 96, Risk 92, Mission not scored, Tradability 21, Holdings not scored, Durability 31. Strongest: Cost (96). Weakest: Tradability (21). Based on 4 of 6 pillars.

Score 72 of 100 falls in the A 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.
    A96 out of 100
    Rank 2 of 52

  • 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.
    A92 out of 100
    Rank 1 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F21 out of 100
    Rank 46 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D31 out of 100
    Rank 48 of 52

Our read on TPUT

ETF.net Research

In short

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

  • Writes 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
  • At 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
  • Seven 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
  • Stated 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

  • Put writing trades away the melt-up: if the index keeps climbing, the fund keeps the premium, not the rally.sec.gov
  • If 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
  • A 2026 launch, small and thinly traded so far, which can mean wider spreads. Distributions may include return of capital.

TPUT Holdings

Asset class
Other
Holdings
2
Top-10 weight
101%
Largest holding
Cash/Cash equivalent USD87.5%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataCash/Cash equivalent USD87.48%0$88.9M30
2No dataTreasury Bill 11/26 0.0000013.04%13,270,000$13.2M2

Showing 1–2 of 2 holdings

TPUT Performance

Launched Jun 10, 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.
TPUT$10,123
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. TPUT $10,123. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 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 TPUT. Periods over one year show the average yearly return.
PeriodTPUT
Year to dateFund launched this yearNo data
1 month+0.4%
3 months+1.2%
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 TPUT
YearReturn barTPUT
2026 YTD+2.3%

History from Jun 11, 2026

TPUT in the news

TPUT Dividends

Upcoming payment
$0.12 per share
Pays 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. 5 payments in 2026 YTD. Jun 30, 2026 $0.05; Jul 31, 2026 $0.13; Aug 31, 2026 $0.11; Sep 30, 2026 $0.12; Oct 30, 2026 $0.12. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 3, 2026$0.12
Sep 30, 2026Oct 2, 2026$0.12
Aug 31, 2026Sep 2, 2026$0.11
Jul 31, 2026Aug 4, 2026$0.13
Jun 30, 2026No data$0.05

— Pay date not on file.

TPUT Risk

Risk pillarA92 out of 100Rank 1 of 52 in S&P 500 Option Income
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.
0.10
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.

TPUT Cost

Compare TPUT and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$3,053

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

  • TPUT 0.25%

    $5,159

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • TPUT 0.25%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530TPUT $5,159PEPS $2,106

Year by year

YearTPUTPEPSOverpaying
10$455$183$272
20$1,769$717$1,052
30$5,159$2,106$3,053

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