T. Rowe Price Technology ETF (TTEQ) began trading on NASDAQ today

BALTIMORE, Oct. 24, 2024 /PRNewswire/ -- T. Rowe Price (NASDAQ-GS: TROW), a global investment management firm, announced today the launch of its first thematic actively managed exchange-traded fund, T. Rowe Price Technology ETF (Ticker: TTEQ). The new ETF began trading on the NASDAQ exchange today.

The T. Rowe Price Technology ETF focuses on the technology sector, applying an active and opportunistic approach to a global technology universe. With a portfolio of 40-50 high-conviction investments, the ETF centers on the most innovative and fastest-growing subsectors of the market that are powered by technology over a full market cycle.

T. Rowe Price Technology ETF is managed by Dominic Rizzo, who has ten years of investment expertise at T. Rowe Price and serves as the portfolio manager of the Global Technology Equity strategy, which has assets under management that total $9.4 billion, as of June 30, 2024. The Technology ETF is a new strategy distinct from existing T. Rowe Price mutual funds.

T. Rowe Price Technology ETF (Ticker: TTEQ)

• Seeks to provide long-term capital growth, investing at least 80% of its net assets in securities of companies it expects to generate a majority of their revenue from technology or those whose competitive edge and/or market share are largely based on their technology capabilities.
• Net expense ratio is 0.63%

T. Rowe Price introduced its first active ETFs in August 2020, and today's launch expands the firm's active ETF lineup to 17, including five semi-transparent ETFs, six transparent fixed income ETFs and six transparent equity 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 ratios, and the flexibility to buy and sell shares throughout the trading day.

QUOTES

Dominic Rizzo, CFA®, Portfolio Manager

"Leveraging our deep industry expertise and commitment to rigorous research, TTEQ targets mission-critical, linchpin technologies from companies innovating in secular growth markets. We look to navigate different market environments responsibly by tactically allocating to these enduring technology companies when they exhibit improving fundamentals and are trading at reasonable valuations. In a rapidly advancing technology landscape, we believe this strategy offers an appealing option to investors who favor the ETF format and are seeking to invest in attractive opportunities globally."

Tim Coyne, Global Head of Exchange-Traded Funds

"The launch of the Technology ETF underscores our commitment to providing innovative offerings that meet our clients' evolving needs in the ETF wrapper. As our ETF roster grows, our expansion into thematic offerings enables investors to tap into specific sectors and trends, like technology, and access the best of our active management expertise paired with the benefits of the ETF vehicle."

ABOUT T. ROWE PRICE

Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions 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. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price serves millions of clients globally and manages US $1.63 trillion in assets under management as of September 30, 2024. About two-thirds of the assets under management are retirement-related. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

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.

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-targets-technology-with-the-launch-of-its-first-thematic-exchange-traded-fund-302286105.html

SOURCE T. Rowe Price Group