T. ROWE PRICE DEBUTS BIOTECH, SMALL-CAP, AND MID-CAP EXCHANGE TRADED FUNDS

T. Rowe Price broadens its ETF lineup with three new active equity strategies covering biotech, small-cap, and mid-cap U.S. markets.

Rhea-AI Summary

T. Rowe Price (TROW) launched three new fully transparent, actively managed equity ETFs on September 17, 2026: T. Rowe Price Biotech ETF (TDNA), T. Rowe Price Small-Cap ETF (TSEE), and T. Rowe Price Mid-Cap Equity Research ETF (TMID), all trading on NASDAQ.

The new funds target biotech, U.S. small-cap, and U.S. mid-cap equities, respectively, with typical portfolios ranging from about 60 to more than 300 stocks and expense ratios of 0.47%–0.59%. With these launches, T. Rowe Price has introduced eight active ETFs in 2026 and now offers 38 ETFs spanning fixed income, equities, multi-asset, digital assets, and thematic strategies. The firm reported $1.90 trillion in client assets under management as of August 31, 2026.

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Continuing steady expansion of its ETF lineup, the firm adds three new active equity offerings

BALTIMORE, Sept. 17, 2026 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, announced today the addition of three new equity exchange traded funds (ETFs): T. Rowe Price Biotech ETF (Ticker: TDNA); T. Rowe Price Small-Cap ETF (Ticker: TSEE); and T. Rowe Price Mid-Cap Equity Research ETF (Ticker: TMID). All three fully transparent actively managed ETFs began trading on the NASDAQ today.

With today's launches, the firm has added eight new active exchange traded offerings to its roster this year, contributing to a total of 38 funds in the lineup. Today's additions broaden investors' access to more segments of the equity market and market themes.

The T. Rowe Price Biotech ETF seeks long-term capital growth by identifying biotechnology companies and emerging technologies with the potential to have an outsized impact on treating and curing disease and improving the quality of human life. The fund is managed by John Hall, who has 11 years of investment experience all at T. Rowe Price. TDNA is expected to hold approximately 60-120 companies, and its expense ratio is 0.55%.

The T. Rowe Price Small-Cap ETF is designed to provide diversified exposure to the U.S. small-cap equity market. It leverages the firm's heritage and experience in active small-cap core investing and its fundamental research capabilities. The ETF is managed by Alex Roik, who has 13 years of investment experience and years at T. Rowe Price. TSEE typically holds 200 or more stocks, and its expense ratio is 0.59%.  

The T. Rowe Price Mid-Cap Equity Research ETF is an actively managed core U.S. mid-cap strategy that expands the firm's Structured Research Strategies (SRS) lineup of mutual funds and ETFs, which includes the T. Rowe Price U.S. Equity Research ETF (TSPA) and T. Rowe Price Emerging Markets Equity Research ETF (TEMR). Accordingly, TMID leverages T. Rowe Price's fundamental research, using active stock selection informed by the "best ideas" of the firm's equity research analysts. The fund is managed by Paige Davis Jr., Amanda Ludwitzke and Thomas Watson. Davis has 23 years of investing experience, 12 of which with T. Rowe Price; Ludwitzke 6 years of investment experience at T. Rowe Price; and Watson 20 years of investing experience, 19 at T. Rowe Price. TMID typically holds more than 300 stocks, and its expense ratio is 0.47%.

T. Rowe Price's exchange traded offerings span fixed income, equities, multi-asset, digital assets, and thematic strategies. Each fund delivers key features such as tax efficiency, more competitive expense ratios, and the flexibility to buy and sell shares throughout the trading day. They also all draw from the fundamental and rigorous research capabilities of T. Rowe Price investment analysts and portfolio managers, who engage in asking better questions, as they strive to deliver better investment outcomes for clients. 

QUOTE:

Tim Coyne, Global Head of ETFs
"TDNA, TSEE, and TMID broaden investors' access to distinct areas of the market, while bringing together T. Rowe Price's deep research capabilities, active management expertise, and the fully transparent ETF structure. By introducing these three new equity ETFs, we continue to build an increasingly comprehensive active ETF lineup – expanding the choices available to investors and their advisors looking to meet evolving portfolio construction needs."

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.90 trillion in client assets as of August 31, 2026, about two-thirds of which are retirement-related. Renowned for nearly 90 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amid evolving markets.

Visit troweprice.com/newsroom for news and public policy commentary.

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 net asset value (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.

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SOURCE T. Rowe Price Group, Inc.

FAQ

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What is the investment objective and structure of the T. Rowe Price Biotech ETF (TDNA)?

The T. Rowe Price Biotech ETF seeks long-term capital growth by investing in biotechnology companies and emerging technologies that may significantly affect treating and curing disease and improving quality of life. It is a fully transparent, actively managed ETF expected to hold approximately 60–120 companies, with an expense ratio of 0.55%.

How is the T. Rowe Price Small-Cap ETF (TSEE) positioned and what are its key features?

The T. Rowe Price Small-Cap ETF is designed to provide diversified exposure to the U.S. small-cap equity market. It uses the firm’s active small-cap core investing approach and fundamental research, typically holding 200 or more stocks. Its expense ratio is 0.59%.

What is the approach of the T. Rowe Price Mid-Cap Equity Research ETF (TMID)?

The T. Rowe Price Mid-Cap Equity Research ETF is an actively managed core U.S. mid-cap strategy that extends the firm’s Structured Research Strategies lineup. TMID relies on fundamental research and active stock selection based on the firm’s equity research analysts’ “best ideas,” typically holding more than 300 stocks. Its expense ratio is 0.47%.

Who manages each of the newly launched T. Rowe Price ETFs?

The T. Rowe Price Biotech ETF (TDNA) is managed by John Hall, who has 11 years of investment experience at T. Rowe Price. The T. Rowe Price Small-Cap ETF (TSEE) is managed by Alex Roik, who has 13 years of investment experience. The T. Rowe Price Mid-Cap Equity Research ETF (TMID) is managed by Paige Davis Jr., Amanda Ludwitzke, and Thomas Watson, whose investing experience ranges from 6 to 23 years, most of it at T. Rowe Price.

How extensive is T. Rowe Price’s ETF lineup after these launches?

After adding TDNA, TSEE, and TMID, T. Rowe Price has launched eight new active ETFs in 2026, bringing its total ETF lineup to 38 funds. The range spans fixed income, equities, multi-asset, digital assets, and thematic strategies.