T. ROWE PRICE INTRODUCES NEW THEMATIC ACTIVE ETF FOCUSED ON COMPANIES LEADING INNOVATION

Rhea-AI Summary

T. Rowe Price (NYSE: TROW) launched the active T. Rowe Price Innovation Leaders ETF (TNXT) on NASDAQ on January 29, 2026. The fund targets companies leading innovation across technology, healthcare and financials, with a dynamic, actively managed portfolio of ~150–250 holdings.

The ETF is co-managed by Sean McWilliams and Som Priestley, leverages the firm's global research platform, and carries a net expense ratio of 0.49%. This launch brings T. Rowe Price's active ETF lineup to 31 funds.

Positive

• Launch expands active ETF lineup to 31 funds
• Net expense ratio of 0.49%
• Targeted, diversified portfolio of 150–250 holdings
• Active management using T. Rowe Price’s global research platform

Negative

• None.

News Market Reaction

-0.41%

1 alert

-0.41% News Effect

On the day this news was published, TROW declined 0.41%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Expected holdings: 150–250 holdings Net expense ratio: 0.49% Manager experience: 16 years +4 more

7 metrics

Expected holdings 150–250 holdings Target portfolio size for T. Rowe Price Innovation Leaders ETF

Net expense ratio 0.49% Stated net expense ratio of the Innovation Leaders ETF

Manager experience 16 years Experience of co-manager Sean McWilliams

Manager experience 20 years Experience of co-manager Som Priestley

Active ETF count 31 ETFs Total T. Rowe Price active ETFs after Innovation Leaders ETF launch

Equity ETFs 21 equity ETFs Portion of T. Rowe Price active ETF lineup in equities

Fixed income ETFs 10 fixed income ETFs Portion of T. Rowe Price active ETF lineup in fixed income

Market Reality Check

Price: $95.81 Vol: Volume 1,133,703 is below...

low vol

$95.81 Last Close

Volume Volume 1,133,703 is below 20-day average 1,637,511 with relative volume at 0.69. low

Technical Shares at 105.25 are trading above the 200-day MA of 101.21, mid-range between the 77.85 52-week low and 118.32 high.

Peers on Argus

TROW is roughly flat (-0.06%) while peers show mixed moves: CG -0.56%, TPG -1.62...

TROW is roughly flat (-0.06%) while peers show mixed moves: CG -0.56%, TPG -1.62%, OWL -0.89% versus NTRS +0.25% and PFG +1.85%, indicating a stock-specific setup rather than a broad asset-management move.

Historical Context

5 past events · Latest: Jan 22 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 22	Financing role	Positive	+0.9%	OHA arranged private unitranche financing backing Berkshire’s acquisition of UFT.
Jan 22	Partnership launch	Positive	+0.9%	Launch of Custom Premier personalized model portfolio solution with Vestmark for RIAs.
Jan 22	Leadership transition	Neutral	+0.9%	Planned retirement of TRPIM head Steph Jackson and staged succession by Steven Krichbaum.
Jan 15	Tender offer results	Positive	-0.8%	Data Storage completed tender offer buying 5.63M shares at $5.20, 72% of float.
Jan 15	Podcast content	Positive	+1.2%	Special T. Rowe Price podcast episode on financial history with Sir Niall Ferguson.

Pattern Detected

Across recent items, TROW-linked news has generally coincided with modest positive price reactions, with only one divergence tied to an external company’s tender offer.

Recent Company History

Recent news for TROW has highlighted financing activities, partnerships, leadership changes, and brand-focused content. On Jan 22, 2026, Oak Hill Advisors arranged private unitranche financing for Berkshire’s acquisition of United Flow Technologies, coinciding with a 0.91% move. The same day, TROW launched the Custom Premier RIA solution and announced a TRPIM leadership transition, each also followed by a 0.91% reaction. Earlier, a podcast release on Jan 15, 2026 aligned with a 1.17% move, while unrelated DTST tender results saw a -0.77% reaction.

Market Pulse Summary

This announcement adds the Innovation Leaders ETF to T. Rowe Price’s active ETF lineup, bringing the...

Analysis

This announcement adds the Innovation Leaders ETF to T. Rowe Price’s active ETF lineup, bringing the total to 31 funds across 21 equity and 10 fixed income strategies. The fund targets 150–250 holdings with a 0.49% net expense ratio, emphasizing innovation across sectors. In context of prior news on product launches and leadership planning, investors may watch how assets gather in TNXT and how its performance compares with existing multi-asset and thematic offerings.

Key Terms

etf, active etf, nasdaq, net expense ratio

4 terms

etf financial

"T. Rowe Price Innovation Leaders ETF (Ticker: TNXT). The new active ETF is designed"

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

active etf financial

"The new active ETF is designed to provide diversified exposure to companies"

An active ETF is an investment fund traded like a stock that is managed by professionals who choose and adjust the fund’s holdings instead of automatically following a fixed index. It matters to investors because it aims to beat a market benchmark or manage risk through hands-on decisions, much like a driver steering around potholes instead of following a preset route, but it can bring higher costs and greater manager-driven variability in returns.

nasdaq financial

"It began trading today on the NASDAQ exchange."

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

net expense ratio financial

"The fund's net expense ratio is 0.49%."

The net expense ratio is the percentage of a fund’s assets taken each year to cover its operating costs and management fees after any fee waivers or reimbursements. Think of it as an annual toll on your investment: the higher the percentage, the more it reduces the fund’s returns over time, so investors use it to compare how much different funds will cost and how those costs may erode gains.

AI-generated analysis. Not financial advice.

The Innovation Leaders ETF offers investors access to disruptive companies across sectors like technology, healthcare, and financials.

BALTIMORE, Jan. 29, 2026 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, announced today the addition of the T. Rowe Price Innovation Leaders ETF (Ticker: TNXT). The new active ETF is designed to provide diversified exposure to companies identified as leaders in innovation across sectors, such as technology, healthcare and financials. It began trading today on the NASDAQ exchange.

The T. Rowe Price Innovation Leaders ETF leverages the firm's global research platform to combine top-down analysis of innovation trends with bottom-up analysis of individual securities, to invest in market leaders across sectors. It also retains the flexibility to invest outside these areas to stay adaptable to new innovations in different industries. With between 150-250 holdings anticipated, the ETF maintains a dynamic portfolio, designed to adjust to market conditions and emerging innovation trends, while maintaining disciplined risk management.

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; and Som Priestley, who has 20 years of experience, and 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. Each ETF delivers key features associated with ETFs such as tax efficiency, more competitive expense ratios, and the flexibility to buy and sell shares throughout the trading day. Portfolio managers follow the firm's rigorous research practice of asking better questions, as they strive to deliver better investment outcomes for clients.

QUOTE

Tim Coyne, Global Head of Exchange-Traded Funds
"The Innovation Leaders ETF provides investors with access to some of the most disruptive companies shaping the future across technology, healthcare, financials, and more. 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."

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.78 trillion in client assets as of December 31, 2025, about two-thirds of which are retirement-related. Renowned for over 85 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 amidst 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/t-rowe-price-introduces-new-thematic-active-etf-focused-on-companies-leading-innovation-302674138.html

SOURCE T. Rowe Price Group

FAQ

When did T. Rowe Price launch the Innovation Leaders ETF (TNXT)?

It began trading on NASDAQ on January 29, 2026. According to T. Rowe Price, the ETF launched that day to provide active exposure to companies leading innovation across sectors.

What is the expense ratio for TNXT and how does it affect investors?

The fund's net expense ratio is 0.49%, representing the annual cost to investors. According to T. Rowe Price, this fee covers active management and research while investors retain ETF trading and tax conveniences.

How many holdings will the T. Rowe Price Innovation Leaders ETF (TNXT) hold?

TNXT is expected to hold approximately 150–250 securities in a dynamic portfolio. According to T. Rowe Price, this range allows diversified exposure across technology, healthcare, financials, and other innovation leaders.

Who manages the T. Rowe Price Innovation Leaders ETF (TNXT)?

TNXT is co-managed by Sean McWilliams and Som Priestley. According to T. Rowe Price, both portfolio managers bring multi‑decade experience within the firm's Multi‑Asset Division and ETF lineup.

What investment approach does TNXT use to select companies?

TNXT combines top‑down innovation trend analysis with bottom‑up security selection in active management. According to T. Rowe Price, the fund uses the firm's global research platform to identify market leaders and adapt to emerging innovations.

How does TNXT change T. Rowe Price's ETF offering (TROW)?

The launch increases T. Rowe Price's active ETF count to 31 funds, including 21 equity and 10 fixed income ETFs. According to T. Rowe Price, TNXT adds thematic innovation exposure to the firm's ETF roster.