T. Rowe Price U.S. Equity Research ETF
$48.60−0.39 (−0.80%)
- Expense ratio
- 0.34%
- Fund size
- $4.6B
- 1Y return
- +17.4%
- Yield · Last 12 months
- 0.55%
- Holdings
- 336
- Volume · 30D
- 0.5M sh
- NAV per share
- $48.95
- 52W range
The ETF.net TSPA Grade
Score 74 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 81Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 81Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 56Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 75Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 76Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 86Category rank
Our read on TSPA
AActive stock picking at near-index prices. T. Rowe Price runs roughly 300 U.S. stocks against the S&P 500 for 0.34%, about half the typical fee in its active U.S. equity peer group, and it has traded as an ETF since 2021.
The fund seeks long-term capital growth through an actively managed portfolio that is generally fully invested and primarily holds U.S. equity securities.
Why people hold it
- 0.34% a year, versus a 0.65% median across active U.S. equity ETFs. Active management without the active price tag.
- A multi-billion-dollar fund that trades actively, and one of the easiest funds in its category to move in and out of.
- About 300 holdings, generally fully invested in U.S. stocks and measured against the S&P 500. Broad shape, active picks inside it.
- Ranks among the strongest overall implementations in a peer group of more than 200 active U.S. equity ETFs.
Worth knowing
- Systematic peers undercut it on fee: DFAU at 0.12%, AVLC at 0.15%, FELC at 0.18%. You are paying up for human stock selection.
- Fully invested U.S. equity means full market risk. There is no cash buffer or hedge, and results ride on picks against the S&P 500.
- Distributions come annually or semiannually, so it is built around long-term capital growth rather than a regular income stream.
TSPA Holdings
- Stocks
- 336
- 39%
- AAPL
Sectors
- Technology38.5%
- Financials12.6%
- Communication10.0%
- Consumer Discr.9.2%
- Health Care9.1%
- Industrials7.4%
- Cons. Staples4.4%
- Energy3.4%
- Utilities2.1%
- Materials1.8%
- Real Estate1.5%
Geography
- United States95.82%
- Ireland1.60%
- United Kingdom0.82%
- Canada0.57%
- Switzerland0.42%
- Singapore0.36%
- Bermuda0.17%
- Germany0.09%
- 0.15%
TSPA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | TSPA |
|---|---|
| Year to date | +14.5% |
| 1 month | +1.6% |
| 3 months | +3.6% |
| 1 year | +17.4% |
| 3 years | +23.3% |
| 5 years | +14.2% |
| 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 | TSPA |
|---|---|---|
| 2026 YTD | +14.5% | |
| 2025 | +16.4% | |
| 2024 | +26.4% | |
| 2023 | +29.9% | |
| 2022 | −18.7% | |
| 2021 | +13.7% |
TSPA in the news
ETF.net Research hasn’t filed on TSPA yet — coverage lands here as it’s written.
TSPA Dividends
- 0.55%
- $0.27
- $0.27 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 23, 2025 | Dec 26, 2025 | $0.27 |
| Dec 23, 2024 | Dec 26, 2024 | $0.18 |
| Dec 20, 2023 | Dec 26, 2023 | $0.12 |
| Dec 20, 2022 | Dec 23, 2022 | $0.26 |
| Dec 20, 2021 | Dec 23, 2021 | $0.12 |
TSPA Risk
- 13.2%
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.
- 1.18
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.
- −24.7%
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.
- 0.99
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TSPA Cost
- The middle half of US Active Equity funds
- Median 0.70%
23 of the 124 US Active Equity funds charge less.