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TNXT vs XT

T. Rowe Price Innovation Leaders ETF

TNXTBNasdaq

iShares Future Exponential Technologies ETF

XTANasdaq

Overlap

Expense ratio

XT −0.03pt a year

TNXT0.49%XT0.46%

Avg volume · 30D

XT 101.0×the volume

TNXT684XT69.1K

TNXT vs XT Performance

Jul 31, 2026 – Oct 30, 2026

+2.6%TNXT+4.9%XT

Jul 31, 2026 to Oct 30, 2026. TNXT +2.6%. XT +4.9%. Use the arrow keys to read each point.0%4%6%8%Jul 2026Sep 2026Oct 2026
Expense ratio
TNXT 0.49%
XT 0.46%, better
Fund size
TNXT $19M
XT $3.98B
1Y total return
TNXT No data
XT +20.1%
Yield (12M)
TNXT No data
XT 6.82%
Holdings
TNXT 261
XT 216
Avg volume (30D)
TNXT 684 sh
XT 69.1K sh, better
NAV per share
TNXT $27.79
XT $83.53
52W range

ETF.net Grade

TNXT: Cost 81, Risk 88, Mission not scored, Tradability 23, Holdings 72, Durability 25. XT: Cost 95, Risk 91, Mission not scored, Tradability 77, Holdings 66, Durability 96.
Pillar letters and Scores for TNXT, XT, with each pillar’s weight
PillarTNXTXT
Cost30% weightA81A95Higher
Mission25% weightNot scoredNot scored
Risk15% weightA88A91Higher
Tradability15% weightF23A77Higher
Holdings10% weightA72HigherB66
Durability5% weightD25A96Higher

Rank among Disruptive Innovation funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TNXT and XT are both graded against the same 30 Disruptive Innovation funds, so their Grades compare head to head.

Disruptive Innovation⁠

Category · 30 funds
See all 30 ›

XT ranks 1st and TNXT 6th of 30 funds in the Disruptive Innovation Category.

  1. Rank 1AXTiShares Future Exponential Technologies ETFScore 86
  2. Rank 2AKOMPState Street SPDR S&P Kensho New Economies Composite ETFScore 83
  3. Rank 6BFDTXFidelity Disruptive Technology ETFScore 65
  4. Rank 6BTNXTT. Rowe Price Innovation Leaders ETFScore 65
  5. Rank 9BFRWDNomura Transformational Technologies ETFScore 59

Our read on each fund

ETF.net Research

TNXTBT. Rowe Price Innovation Leaders ETF

XTAiShares Future Exponential Technologies ETF

In short

TNXT T. Rowe Price's answer to disruptive innovation is the un-concentrated one: an active book of roughly 150 to 250 innovators across tech, healthcare and financials, priced under the typical thematic fund.

XT Innovation, spread thin on purpose. XT holds roughly 200 global companies scored by Morningstar analysts for exposure to a handful of exponential tech themes, so no single moonshot carries the fund.

Stated mandate

TNXT The fund seeks long-term capital growth by investing in companies leading innovation and developing advanced technologies, products, or services. Its approach combines evaluation of innovation-driven growth trends with fundamental, bottom-up company analysis.

XT XT seeks to track an index of stocks from developed and emerging markets whose companies create or use exponential technologies. The strategy targets technologies with potential economic benefits, including the ability to displace older technologies or create new markets.

Why people hold it

  • TNXT A 0.49% expense ratio puts an actively managed, research-driven thematic fund below the median fee in its disruptive-innovation peer group.troweprice.com
  • Anticipates 150 to 250 holdings, spreading the theme across a broad roster instead of a handful of high-conviction names.troweprice.com
  • Innovation is not treated as a tech-only story: the mandate spans technology, healthcare and financials, with room to follow new ideas into other industries.troweprice.com
  • Two portfolio managers from T. Rowe Price's Multi-Asset Division run it, pairing top-down innovation-trend work with bottom-up company research.troweprice.com
  • XT Cheap for the theme at 0.46% a year, below the typical fee in its disruptive-innovation cohort and under peers like TRFM and FDTX.
  • Human fingerprint on the stock list: Morningstar equity analysts score companies on theme exposure instead of sorting by keywords or revenue tags.sec.govcontentstack.io
  • Global by construction (developed and emerging markets) and not fenced into the tech sector, so a drugmaker or an industrial can qualify on theme exposure.sec.gov
  • Launched in 2015 and now a multi-billion-dollar iShares fund, it stands among the stronger builds in its innovation peer group.ishares.com

Worth knowing

  • TNXT Launched in 2026, so there is no long track record yet and risk readings rest on a short history.
  • Assets and trading are still small, which can mean wider spreads than the category's heavily traded names.
  • Index-based peers such as KOMP charge 0.20%, so the extra fee here buys active stock picking rather than cheap beta.
  • XT The index has been reworked since launch (weighting scheme, theme list), and themes get an annual review, so today's tilt is not fixed forever.morningstar.comsec.gov
  • Moderately traded rather than a household name, which can mean wider spreads than the biggest tech ETFs.
  • About 200 positions dilutes any single breakout winner, and distributions land only once or twice a year.

Full TNXT profile⁠

Full XT profile⁠

TNXT vs XT Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TNXT vs XT Cost

Overpaying TNXT vs XT

$562

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

  • TNXT 0.49%

    $9,792

  • XT 0.46%

    $9,230

$10,000
30 years

Cost over time

  • TNXT 0.49%
  • XT 0.46%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TNXT $9,792XT $9,230

Year by year

YearTNXTXTOverpaying
10$883$830$53
20$3,394$3,195$199
30$9,792$9,230$562

Expense ratio

  • 0.49%TNXT
  • 0.46%XT, cheaper
  • Middle half of Disruptive Innovation funds
  • Median 0.65%

XT 3rd cheapest of 30 funds

TNXT 4th cheapest of 30 funds

TNXT vs XT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TNXT No data
XT 6.82%
Payout (12M)
TNXT None
XT $5.69
Last payment
TNXT No data
XT $0.36
Ex-dividend
TNXT No data
XT Jun 15, 2026
Paid on
TNXT No data
XT Jun 18, 2026
Frequency
TNXT No data
XT Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

TNXTAll TNXT payments⁠

No distribution history available.

XTTwice a year · 23 paymentsAll XT payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.24; Dec 21, 2017 $0.10; Dec 28, 2017 $0.0072; Jun 19, 2018 $0.29; Dec 18, 2018 $0.18; Dec 28, 2018 $0.02; Jun 17, 2019 $0.36; Dec 16, 2019 $0.30; Jun 15, 2020 $0.24; Dec 14, 2020 $0.19; Dec 30, 2020 $0.01; Jun 10, 2021 $0.27; Dec 13, 2021 $0.28; Jun 9, 2022 $0.22; Dec 13, 2022 $0.15; Jun 7, 2023 $0.14; Dec 20, 2023 $0.11; Jun 11, 2024 $0.16; Dec 17, 2024 $0.22; Dec 30, 2024 $0.0094; Jun 16, 2025 $0.21; Dec 16, 2025 $5.33; Jun 15, 2026 $0.36. Use the arrow keys to read each point.$0$52017202020232026YTD

TNXT vs XT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TNXT No dataXT 16.5%
Return per unit of riskSharpe ratio, 3 years
TNXT No dataXT 1.08
Worst fallMax drawdown, 5 years
TNXT No dataXT −34.4%
Market sensitivityBeta, 5 years
TNXT 1.22XT 1.35

TNXT and XT in the news

All news⁠

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