MSTQ vs TACU

MSTQFLHA Market State Tactical Q ETF

TACUAT. Rowe Price Active Core U.S. Equity ETF

In short

MSTQ A Nasdaq-100 ride with a volatility seatbelt: MSTQ holds Nasdaq-100 exposure in calm markets, then adds long VIX positions when the VIX futures curve signals stress. Rules-based, and running live since 2022.

TACU T. Rowe Price's quant-plus-fundamental take on core large-cap U.S. stock, benchmarked to the Russell 1000. Gross fee 0.14%, fully waived to zero through January 30, 2027.

Stated mandate

MSTQ The Fund seeks long-term outperformance relative to the U.S. large-capitalization equity market.

TACU The fund seeks long-term capital growth through a primarily U.S. equity portfolio. It combines quantitative models with fundamental, bottom-up analysis and seeks excess returns relative to the Russell 1000 Index.

Why people hold it

• MSTQ In calm markets it rides the Nasdaq-100 via an index fund or Nasdaq-100 futures, generally 80% to 120% exposure. When volatility stress signals fire, it buys long VIX exposure.lhafunds.comlittleharboradvisors.com
• The trigger is the shape of the volatility market itself: 30-day versus 90-day implied vol plus VIX futures, rather than a manager's gut call on when to duck.sec.gov
• Runs on a signal licensed exclusively from Thompson Capital, the shop that built it, and has traded in public markets since 2022. One ticker instead of a do-it-yourself options overlay.sec.gov

• TACU Fee fully waived: 0.14% gross, zero net through January 30, 2027. That sits below every top-scoring peer in the category, including DFAU at 0.12% with no waiver.troweprice.com
• Quant models feed bottom-up stock picking with tilts to profitability, quality and value, chasing excess return over the Russell 1000 while holding tracking error tight.troweprice.com
• Several hundred large-cap names, so no single position runs the show. One of the stronger profiles in a crowded active U.S. equity field.troweprice.com

Worth knowing

• MSTQ At 1.55% with no fee waiver, it sits above the typical active US large-cap fee, and index-style peers such as DFAU (0.12%) and AVLC (0.15%) cost a sliver of that.
• Hedging is not free: when the signal turns defensive and stocks keep climbing, the long VIX leg drags while Nasdaq-100 exposure is dialed back.lhafunds.comsec.gov
• Small and thinly traded, so the spread is part of the cost of getting in and out, not just the expense ratio.

• TACU Launched in December 2025, so the live record is short and the risk read rests on limited history.
• Still a small fund that trades lightly, which can mean wider spreads than the category's giants.
• Distributions are annual at most, with no declared income target. This is a growth mandate, not a cash-flow one.

Full MSTQ profile⁠

Full TACU profile⁠