T. Rowe Price Launches New ETF
T. Rowe Price has added a new ticker designed to provide exposure to companies identifying as leaders across technology, healthcare and financial sectors.
The ticker, the T. Rowe Price Innovation Leaders exchange-traded fund (ETF), began trading on Jan. 29 on the NASDAQ exchange.
According to T. Rowe Price, the ETF leverages the firm’s research platform to combine top-down analysis of innovation trends with bottom-up analysis of individual securities, to invest in market leaders across sectors.
“The Innovation Leaders ETF provides investors with access to some of the most disruptive companies shaping the future across technology, healthcare, financials, and more,” said Tim Coyne, global head of Exchange-Traded Funds. “Powered by T. Rowe Price’s deep multi‑sector research and forward‑looking active management, we’re able to uncover differentiated investment ideas for clients seeking to capture long‑term innovation themes in a rapidly evolving market landscape.”
TNXT is actively co-managed by two portfolio managers from T. Rowe Price’s Multi-Asset Division: Sean McWilliams, who also manages the T. Rowe Price Hedged Equity ETF, has 16 years of experience and serves as head of systematic investing within the Multi-Asset Division. Som Priestley, who has 20 years of experience, serves as head of Global Investment Solutions, Americas. The fund’s net expense ratio is 0.49%.
Today’s launch brings T. Rowe Price’s roster of active ETFs to 31, including 21 equity ETFs and 10 fixed income offerings.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.