TMSL vs. FDL ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF (TMSL) to First Trust Morningstar ETF (FDL)

TMSL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF

TMSL Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in assets issued by small- or mid-cap companies. The fund may at times invest significantly in certain sectors, such as the information technology sector.

Grade (RS Rating)

Last Trade

$34.58

Average Daily Volume

71,985

Number of Holdings ^*

256

* may have additional holdings in another (foreign) market

FDL

First Trust Morningstar ETF

FDL Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Morningstar(R) Dividend Leaders Index(SM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The objective of the index is to offer investors a benchmark for dividend portfolios as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends as well as the ability to sustain them. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$43.32

Average Daily Volume

361,610

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

Performance

Period	TMSL	FDL
30 Days	5.15%	1.78%
60 Days	5.62%	3.28%
90 Days	6.97%	5.24%
12 Months	34.59%	32.24%

13 Overlapping Holdings

Symbol	Grade	Weight in TMSL	Weight in FDL	Overlap
AEE	A	0.39%	0.54%	0.39%
EVRG	A	0.2%	0.44%	0.2%
FITB	B	0.35%	0.78%	0.35%
FLO	D	0.33%	0.13%	0.13%
FMC	D	0.41%	0.19%	0.19%
HBAN	A	0.56%	0.78%	0.56%
NWE	B	0.19%	0.11%	0.11%
NXST	C	0.35%	0.15%	0.15%
OMF	A	0.45%	0.42%	0.42%
POR	C	0.3%	0.14%	0.14%
SWK	D	1.44%	0.31%	0.31%
TNL	A	0.4%	0.13%	0.13%
WU	F	0.62%	0.2%	0.2%

TMSL Overweight 243 Positions Relative to FDL

Symbol	Grade	Weight
SEM	B	1.35%
FTI	A	1.23%
CPAY	A	1.23%
MKSI	C	1.19%
TXT	D	1.17%
WAL	B	1.15%
BPOP	C	1.14%
THC	D	1.13%
RNR	C	0.95%
DT	D	0.87%
REXR	F	0.84%
ESAB	C	0.81%
WBS	A	0.8%
LAMR	C	0.79%
RPM	A	0.77%
SSNC	B	0.75%
GDDY	A	0.75%
HII	F	0.75%
DOCU	B	0.71%
VOYA	B	0.67%
LDOS	C	0.65%
BFAM	D	0.65%
GEN	B	0.64%
RL	C	0.63%
TFX	F	0.61%
RS	B	0.61%
TOL	B	0.6%
INSM	C	0.59%
CUBE	C	0.59%
NTNX	B	0.59%
BDC	C	0.59%
NI	A	0.59%
VNO	C	0.58%
CRBG	B	0.58%
ZBRA	B	0.57%
SAIA	B	0.56%
PATK	C	0.56%
SITE	F	0.55%
EME	A	0.54%
OPCH	D	0.54%
STLD	B	0.54%
CF	A	0.53%
BURL	B	0.53%
ENTG	D	0.52%
FBP	C	0.52%
XPRO	D	0.52%
STNG	F	0.52%
RGA	A	0.51%
MNDY	C	0.51%
WYNN	C	0.51%
MWA	B	0.51%
WING	D	0.5%
CVNA	B	0.5%
SUM	B	0.5%
AGCO	D	0.5%
VTRS	A	0.5%
CW	C	0.49%
IOT	A	0.49%
CLH	C	0.48%
APG	B	0.48%
EWBC	A	0.48%
WSC	F	0.48%
COOP	B	0.47%
DUOL	A	0.47%
ST	F	0.46%
BLX	B	0.46%
EQH	C	0.46%
EXAS	D	0.45%
TYL	B	0.45%
TTC	C	0.45%
EHC	B	0.45%
MIDD	C	0.44%
MORN	B	0.44%
TOST	B	0.43%
BRX	A	0.43%
HUBB	B	0.43%
RRC	B	0.43%
JBL	C	0.42%
TKR	D	0.42%
PLNT	A	0.41%
LRN	A	0.41%
KFY	B	0.41%
NVR	D	0.41%
HOLX	D	0.4%
EG	C	0.4%
VFC	C	0.39%
AWI	A	0.39%
FND	D	0.39%
DKNG	B	0.39%
BCO	F	0.39%
RYN	D	0.39%
BBWI	C	0.38%
SUI	C	0.38%
DPZ	C	0.38%
NCLH	B	0.37%
PHIN	A	0.37%
VRRM	F	0.37%
PR	B	0.36%
REG	A	0.36%
PTC	B	0.36%
NWS	A	0.35%
PCVX	D	0.34%
UHS	D	0.34%
RNA	C	0.34%
UPWK	B	0.33%
STGW	A	0.33%
ULTA	F	0.33%
DRH	B	0.32%
BPMC	B	0.32%
GEO	B	0.32%
KMPR	A	0.32%
DOLE	D	0.32%
USFD	A	0.32%
MAIN	A	0.31%
DOX	D	0.31%
SKWD	A	0.31%
RVTY	F	0.31%
MANH	D	0.3%
MOH	F	0.3%
LPX	B	0.3%
OC	A	0.3%
HWM	A	0.29%
EVRI	A	0.29%
NBIX	C	0.29%
SHOO	F	0.29%
BERY	C	0.28%
TECH	F	0.28%
OFG	B	0.28%
ASGN	F	0.28%
LSTR	D	0.28%
ARMK	B	0.28%
BJ	A	0.28%
FCN	F	0.28%
AYI	B	0.27%
LPLA	A	0.27%
FTDR	B	0.27%
ATEN	A	0.27%
PAYO	A	0.27%
ELS	C	0.26%
CASY	A	0.26%
CPA	D	0.26%
VNT	C	0.26%
STEP	C	0.26%
KRC	B	0.26%
ELF	C	0.26%
ELAN	D	0.26%
PFGC	B	0.25%
PLAB	C	0.25%
HST	C	0.25%
KYMR	D	0.25%
SCI	B	0.25%
CHDN	B	0.25%
NTRA	A	0.25%
BLDR	D	0.25%
VRTS	B	0.25%
AZEK	A	0.24%
PCTY	C	0.24%
MTX	B	0.24%
MCB	B	0.24%
GLOB	B	0.24%
RVMD	C	0.24%
BLBD	D	0.24%
BOX	B	0.24%
CBOE	C	0.23%
CRNX	C	0.23%
BLD	D	0.23%
OIS	B	0.23%
RDDT	A	0.23%
EEFT	B	0.23%
CTLT	C	0.23%
TREX	C	0.23%
WFRD	D	0.22%
UFPI	C	0.22%
TDW	F	0.22%
CELH	F	0.22%
CRL	D	0.22%
ESS	B	0.22%
ALV	C	0.22%
ALKS	C	0.21%
EPR	C	0.21%
ONON	A	0.21%
LSCC	D	0.21%
VRNT	C	0.21%
BRZE	C	0.21%
RGEN	D	0.21%
WFG	C	0.21%
LPRO	B	0.21%
PK	C	0.2%
SWN	C	0.2%
PRDO	B	0.2%
KEX	B	0.2%
THG	A	0.2%
TXRH	B	0.2%
CWEN	C	0.2%
OLLI	D	0.19%
HAFC	B	0.19%
NFG	A	0.19%
BGNE	D	0.18%
AHH	D	0.18%
LUV	C	0.18%
LEGN	D	0.18%
RARE	F	0.18%
PBH	A	0.17%
ENS	F	0.17%
TW	A	0.17%
WDC	D	0.17%
PLUS	F	0.16%
AVNT	B	0.16%
BFS	C	0.16%
AVY	F	0.16%
REPL	D	0.16%
SRPT	F	0.16%
BWXT	B	0.16%
VERA	C	0.16%
FIX	A	0.16%
GMRE	F	0.15%
HIG	B	0.15%
XRAY	F	0.15%
CVLT	B	0.15%
CNP	A	0.15%
WTTR	A	0.15%
NRIX	C	0.14%
TDC	D	0.14%
AMAL	B	0.14%
ESNT	F	0.13%
ACM	B	0.12%
XNCR	B	0.12%
ASND	F	0.12%
NTLA	F	0.11%
MDGL	B	0.11%
ACAD	C	0.11%
CLDX	F	0.11%
IONS	F	0.11%
AKRO	B	0.11%
IDYA	F	0.1%
ANET	C	0.1%
APPF	B	0.08%
RCKT	F	0.08%
BXC	B	0.08%
PRTA	F	0.07%
SRRK	C	0.06%
PLRX	D	0.06%
SWTX	C	0.04%

TMSL Underweight 87 Positions Relative to FDL

Symbol	Grade	Weight
CVX	A	-9.22%
VZ	C	-7.42%
ABBV	F	-6.79%
PFE	F	-5.94%
PM	B	-5.87%
MO	A	-4.96%
IBM	C	-4.35%
UPS	C	-3.49%
GILD	C	-3.11%
USB	A	-2.44%
CVS	D	-2.33%
TFC	A	-2.19%
DUK	C	-2.18%
PNC	B	-2.12%
KMI	A	-2.06%
OKE	A	-1.96%
F	C	-1.78%
PRU	A	-1.46%
FANG	C	-1.25%
DOW	F	-1.23%
AEP	C	-1.21%
KMB	C	-1.08%
EXC	C	-1.04%
XEL	A	-0.93%
KHC	F	-0.91%
TROW	B	-0.9%
LYB	F	-0.87%
EIX	B	-0.83%
ETR	B	-0.82%
WEC	A	-0.76%
RF	A	-0.75%
STT	B	-0.67%
KEY	B	-0.66%
CFG	B	-0.64%
ES	C	-0.64%
FE	C	-0.57%
BBY	D	-0.49%
CLX	A	-0.43%
K	A	-0.42%
CAG	F	-0.41%
FNF	B	-0.37%
LNT	A	-0.35%
CMA	B	-0.33%
WHR	B	-0.33%
IPG	D	-0.33%
CNH	C	-0.32%
FHN	A	-0.31%
SJM	D	-0.31%
PNW	A	-0.29%
BEN	C	-0.28%
COLB	B	-0.28%
LNC	C	-0.26%
OGE	A	-0.25%
MTN	C	-0.24%
HAS	D	-0.24%
ZION	B	-0.23%
UGI	C	-0.22%
SNV	C	-0.21%
JHG	B	-0.19%
APAM	B	-0.17%
VLY	B	-0.17%
FAF	A	-0.16%
UBSI	B	-0.16%
OZK	B	-0.15%
FIBK	B	-0.14%
SR	A	-0.13%
WEN	D	-0.13%
BKH	A	-0.13%
ALE	A	-0.12%
CC	C	-0.12%
NJR	A	-0.12%
ASB	B	-0.12%
PRGO	C	-0.11%
PNM	B	-0.11%
FHB	B	-0.11%
MSM	C	-0.11%
MAN	F	-0.1%
OGS	A	-0.1%
AVA	A	-0.1%
CATY	B	-0.09%
AGR	A	-0.09%
SMG	C	-0.09%
FHI	B	-0.09%
LCII	C	-0.08%
CRI	F	-0.06%
SIRI	C	-0.05%
GEF	A	-0.01%