T. Rowe Price has expanded its exchange traded lineup with three fully transparent, actively managed equity ETFs on NASDAQ: a biotech ETF trading as TDNA with an expense ratio of 0.55%, a small-cap ETF trading as TSEE at 0.59%, and a mid-cap equity research ETF trading as TMID at 0.47%. The push into biotech, small-cap, and mid-cap active funds is part of T. Rowe Price's effort to broaden its product set and reach new types of investors. The launch follows the June debut of the T. Rowe Price Active Crypto ETF, TKNZ, and together the products extend the firm's reach into newer vehicles and asset types. The company's investment narrative projects $8.4 billion in revenue and $2.6 billion in earnings by 2029, requiring 4.4% yearly revenue growth and roughly a $0.6 billion earnings increase from $2.0 billion today, with a fair value estimate of $110.00, about 4% upside to its current price. The lowest analyst estimate assumes roughly flat US$7.5 billion revenue and requires higher margins.
T. Rowe Price Group IncT. Rowe Price launched three new active equity ETFs (TDNA, TSEE, TMID), expanding its product lineup and investor reach.
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