T. ROWE PRICE EXPANDS ACTIVE EQUITY ETF ROSTER WITH TWO NEW TRANSPARENT OFFERINGS
T. Rowe Price (TROW) has expanded its active ETF lineup with two new transparent equity funds trading on NYSE Arca. The T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) and T. Rowe Price Hedged Equity ETF (THEQ) bring the firm's total active ETF offerings to 19.
THEQ, managed by Sean McWilliams, aims for long-term capital growth by investing 80% in equities, combining U.S. Structured Research Equity Strategy with a derivatives hedging approach. It has an expense ratio of 0.46%.
TCAL, co-managed by award-winning portfolio manager David Giroux and five other professionals, focuses on high-quality stocks and covered calls to maximize income and preserve principal. It has a 0.34% expense ratio. The ETFs complement T. Rowe Price's mutual fund offerings, providing benefits like tax efficiency and intraday trading flexibility.
T. Rowe Price (TROW) ha ampliato la sua gamma di ETF attivi con due nuovi fondi azionari trasparenti quotati su NYSE Arca. L'ETF T. Rowe Price Capital Appreciation Premium Income (TCAL) e l'ETF T. Rowe Price Hedged Equity (THEQ) portano il totale degli ETF attivi offerti dall'azienda a 19.
THEQ, gestito da Sean McWilliams, mira a una crescita del capitale a lungo termine investendo l'80% in azioni, combinando la Strategia di Ricerca Azionaria Strutturata degli Stati Uniti con un approccio di copertura tramite derivati. Ha un rapporto di spese dello 0,46%.
TCAL, co-gestito dal premiato gestore di portafoglio David Giroux e da altri cinque professionisti, si concentra su azioni di alta qualità e opzioni coperte per massimizzare il reddito e preservare il capitale. Ha un rapporto di spese dello 0,34%. Gli ETF completano l'offerta di fondi comuni di investimento di T. Rowe Price, fornendo vantaggi come efficienza fiscale e flessibilità nel trading intraday.
T. Rowe Price (TROW) ha ampliado su línea de ETF activos con dos nuevos fondos de acciones transparentes que cotizan en NYSE Arca. El ETF T. Rowe Price Capital Appreciation Premium Income (TCAL) y el ETF T. Rowe Price Hedged Equity (THEQ) llevan el total de ofertas de ETF activos de la firma a 19.
THEQ, gestionado por Sean McWilliams, busca un crecimiento de capital a largo plazo invirtiendo el 80% en acciones, combinando la Estrategia de Investigación Estructurada de Acciones de EE. UU. con un enfoque de cobertura de derivados. Tiene una relación de gastos del 0,46%.
TCAL, co-gestionado por el premiado gestor de cartera David Giroux y otros cinco profesionales, se centra en acciones de alta calidad y opciones cubiertas para maximizar los ingresos y preservar el capital. Tiene una relación de gastos del 0,34%. Los ETF complementan la oferta de fondos mutuos de T. Rowe Price, proporcionando beneficios como eficiencia fiscal y flexibilidad en el comercio intradía.
T. Rowe Price (TROW)는 NYSE Arca에서 거래되는 두 개의 새로운 투명 주식 펀드로 액티브 ETF 라인을 확장했습니다. T. Rowe Price Capital Appreciation Premium Income ETF (TCAL)와 T. Rowe Price Hedged Equity ETF (THEQ)는 회사의 총 액티브 ETF 제공 수를 19개로 늘립니다.
Sean McWilliams가 관리하는 THEQ는 미국 구조화 연구 주식 전략과 파생상품 헤지 접근 방식을 결합하여 80%를 주식에 투자함으로써 장기 자본 성장을 목표로 합니다. 비용 비율은 0.46%입니다.
TCAL은 수상 경력이 있는 포트폴리오 관리자 David Giroux와 다른 5명의 전문가가 공동 관리하며, 고품질 주식과 커버드 콜에 집중하여 수익을 극대화하고 원금을 보존합니다. 비용 비율은 0.34%입니다. 이 ETF는 T. Rowe Price의 뮤추얼 펀드 제공을 보완하며, 세금 효율성 및 장중 거래 유연성과 같은 이점을 제공합니다.
T. Rowe Price (TROW) a élargi sa gamme d'ETF actifs avec deux nouveaux fonds d'actions transparents cotés sur NYSE Arca. L'ETF T. Rowe Price Capital Appreciation Premium Income (TCAL) et l'ETF T. Rowe Price Hedged Equity (THEQ) portent le total des offres d'ETF actifs de la société à 19.
THEQ, géré par Sean McWilliams, vise une croissance du capital à long terme en investissant 80% dans des actions, combinant la Stratégie de Recherche Structurée des Actions américaines avec une approche de couverture par dérivés. Il a un ratio de frais de 0,46%.
TCAL, co-géré par le gestionnaire de portefeuille primé David Giroux et cinq autres professionnels, se concentre sur des actions de haute qualité et des options couvertes pour maximiser les revenus et préserver le capital. Il a un ratio de frais de 0,34%. Les ETF complètent l'offre de fonds communs de placement de T. Rowe Price, offrant des avantages tels que l'efficacité fiscale et la flexibilité de négociation intrajournalière.
T. Rowe Price (TROW) hat sein Angebot an aktiven ETFs mit zwei neuen transparenten Aktienfonds erweitert, die an der NYSE Arca gehandelt werden. Der T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) und der T. Rowe Price Hedged Equity ETF (THEQ) erhöhen die Gesamtzahl der aktiven ETF-Angebote der Firma auf 19.
THEQ, verwaltet von Sean McWilliams, zielt auf langfristiges Kapitalwachstum ab, indem 80% in Aktien investiert werden, und kombiniert die US Structured Research Equity Strategy mit einem Derivate-Hedging-Ansatz. Die Kostenquote beträgt 0,46%.
TCAL, co-verwaltet von dem preisgekrönten Portfoliomanager David Giroux und fünf weiteren Fachleuten, konzentriert sich auf hochwertige Aktien und gedeckte Optionen, um das Einkommen zu maximieren und das Kapital zu erhalten. Die Kostenquote beträgt 0,34%. Die ETFs ergänzen das Angebot an Investmentfonds von T. Rowe Price und bieten Vorteile wie steuerliche Effizienz und Flexibilität beim Intraday-Handel.
- Expansion of ETF product line strengthens market presence
- Lower expense ratios compared to traditional mutual funds
- Experienced management team with proven track record
- Enhanced portfolio offerings with hedging and income-focused strategies
- Competitive pressure in crowded ETF market
- New products may take time to build significant assets under management
Insights
T. Rowe Price's launch of two new active ETFs represents a strategic expansion in the rapidly growing ETF space. This move increases their ETF lineup to 19 total funds, demonstrating the firm's commitment to diversifying beyond traditional mutual funds.
The Capital Appreciation Premium Income ETF (TCAL) leverages their proven Capital Appreciation strategy - a significant competitive advantage given its 17-year track record of outperforming peers. With an expense ratio of
Meanwhile, the Hedged Equity ETF (THEQ) addresses growing investor demand for downside protection strategies. Its
This expansion builds upon T. Rowe's strategic pivot that began in 2020, allowing them to capture market share in the active ETF segment where investor assets have been increasingly flowing. By offering ETF versions of successful strategies with benefits like intraday trading and potential tax efficiencies, T. Rowe is effectively defending against asset migration to competitors' ETF offerings while potentially attracting new investor segments.
Capital Appreciation Premium Income ETF and Hedged Equity ETF began trading on NYSE today
T. Rowe Price Hedged Equity ETF (THEQ) seeks to provide long-term capital growth and normally invests at least
T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is a low volatility portfolio of high-quality stocks and covered calls, optimized to maximize income, preserve principal and limit losses. The new strategy leverages the existing, time-tested Capital Appreciation Fund process that blends fundamental and quantitative approaches. It is the second ETF in the Capital Appreciation suite and has an expense ratio of
TCAL is co-managed by six investment professionals from T. Rowe Price Investment Management (TRPIM), including David Giroux, CFA®, an award-winning1 portfolio manager of the
- Farris Shuggi, CFA®, head of Quantitative Equity, TRPIM, co-portfolio manager
- Justin Olsen, co-portfolio manager
- Vivek Rajeswaran, co-portfolio manager
- Mike Signore, co-portfolio manager
- Brian Solomon, CFA®, co-portfolio manager
T. Rowe Price introduced its first active ETFs in August 2020. Today's launches bring the firm's roster to 13 equity active ETFs and six fixed income active ETFs. The active ETFs complement the firm's traditional mutual fund offerings and deliver key features associated with ETFs that some investors may prefer, such as tax efficiency, more competitive expense rations, and the flexibility to buy and sell shares throughout the trading day.
QUOTE:
Tim Coyne, Global Head of Exchange-Traded Funds
"The momentum of our growing active ETF lineup continues with today's launch of the Capital Appreciation Premium Income ETF and the Hedged Equity ETF. With the expertise of our seasoned investment teams and our long history of active management expertise, we strive to provide ETFs that can play distinctive roles in an investor's portfolio and offer compelling value and performance potential. These new products reflect our commitment to providing investors with innovative solutions to meet their long-term investment goals."
ABOUT T. ROWE PRICE
Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages USD
Consider the investment objectives, risks, and charges and expenses carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information visit troweprice.com. Read it carefully.
ETFs are bought and sold at market prices, not NAV. Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions which will reduce returns.
1 David Giroux is a six-time nominee and two-time winner of Morningstar's annual Outstanding Portfolio Manager award.
Established in 1988, the Morningstar Outstanding Portfolio Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. Award winners are chosen based on research and in-depth qualitative evaluation by Morningstar's Manager Research Group. To qualify for the award, managers' funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders'. Managers' funds must currently have a Morningstar Analyst Rating™ of Gold or Silver. David Giroux won the award for Allocation Funds in 2012 and Allocation/Alternative Funds in 2017.
Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc., including, but not limited to, Morningstar Research Services LLC. Morningstar's Manager Research Group produces various ratings including the Morningstar Analyst Rating for funds and the Morningstar Quantitative Rating for funds. The Analyst Rating is derived from a qualitative assessment process performed by a manager research analyst, whereas the Morningstar Quantitative Rating uses a machine-learning model based on the decision-making processes of Morningstar's analysts, their past ratings decisions, and the data used to support those decisions. In both cases, the ratings are forward-looking assessments and include assumptions of future events, which may or may not occur or may differ significantly from what was assumed. The Analyst Ratings and Quantitative Ratings are statements of opinions, subject to change, are not to be considered as guarantees, and should not be used as the sole basis for investment decisions.
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SOURCE T. Rowe Price Group
FAQ
What are the expense ratios for T. Rowe Price's new ETFs TCAL and THEQ?
How many active ETFs does T. Rowe Price (TROW) now offer after these launches?
What is the investment strategy of T. Rowe Price's new THEQ ETF?
Who manages T. Rowe Price's new TCAL ETF?
