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Launched · SEC filings

T. Rowe Price U.S. Equity Research ETF

TSPANYSE ArcaT. Rowe PriceA

$47.34−0.20 (−0.42%)

At close: Nov 2, 2026, 4:00 PM ET

A75/ 100

Rank 12 of 126 in US Active Equity

A75/100Rank 12 of 126inUS Active Equity
Intraday session: down, 79 prints from 47.54 to 47.34. Range 47.32 to 48.06. Use the arrow keys to read each point.47.8048.0010 AM12 PM2 PM4 PM
Expense ratio
0.34%
Fund size
$4.64B
1Y total return
+11.3%
Yield · Last 12 months
0.56%
Holdings
329
Avg volume · 30D
381K sh
52W range
low $39.53high $49.54
Launched
Filings
SEC EDGAR

The ETF.net TSPA Grade

A

Score 75 out of 100

Category
US Active Equity⁠
Rank
12 of 126
Six-pillar profile for TSPA. Scores out of 100: Cost 80, Risk 57, Mission 80, Tradability 84, Holdings 71, Durability 85. Strongest: Durability (85). Weakest: Risk (57). No single pillar leads.

Score 75 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.
    A80 out of 100
    Rank 25 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A80 out of 100
    Rank 13 of 49

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B57 out of 100
    Rank 54 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A84 out of 100
    Rank 9 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A71 out of 100
    Rank 39 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A85 out of 100
    Rank 14 of 126

Our read on TSPA

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Jun 8, 2021

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.
TSPA$11,127
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TSPA $11,127. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – 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 TSPA. Periods over one year show the average yearly return.
PeriodTSPA
Year to date+11.1%
1 month−1.5%
3 months+0.9%
1 year+11.3%
3 yearsper year+23.3%
5 yearsper year+12.4%
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 TSPA
YearReturn barTSPA
2026 YTD+11.1%
2025+16.4%
2024+26.4%
2023+29.9%
2022−18.7%
2021+13.7%

History from Jun 9, 2021

TSPA in the news

TSPA 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 Oct 30, 2026.
0.56%Last 12 months
Payout per share
$0.27Last 12 months
Last payment
$0.27 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 20, 2021 $0.12; Dec 20, 2022 $0.26; Dec 20, 2023 $0.12; Dec 23, 2024 $0.18; Dec 23, 2025 $0.27. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 26, 2025$0.27
Dec 23, 2024Dec 26, 2024$0.18
Dec 20, 2023Dec 26, 2023$0.12
Dec 20, 2022Dec 23, 2022$0.26
Dec 20, 2021Dec 23, 2021$0.12

$10,000 in TSPA 5 years ago paid $344 in dividends.

TSPA Risk

Risk pillarB57 out of 100Rank 54 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
12.6%
Annualised · 36 months to Oct 2026
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.
1.38
vs 3-month T-bills · to Oct 2026
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.
−24.7%
Trough Oct 2022
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.
1.00
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.

FMP measures it over up to five years of monthly returns.

TSPA Cost

Compare TSPA and TACU

Overpaying vs TACU, cheapest in US Active Equity

$6,932

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

  • TSPA 0.34%

    $6,932

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • TSPA 0.34%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530TSPA $6,932TACU $0

Year by year

YearTSPATACUOverpaying
10$616$0$616
20$2,386$0$2,386
30$6,932$0$6,932

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