At a glance
TCHP charges 0.57% a year, above the 0.16% average of the 8 funds most like it (the most expensive of 9). It has $2.16B in assets, the 8th largest of that group. Over the past year it returned −1.2% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +23.5% a year. At its worst it fell 38.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 16 months after the low. Its ten largest positions make up 56.7% of the fund, out of 66 in all.
The short version
T. Rowe Price Blue Chip Growth ETF (TCHP) is an actively managed fund that picks large US growth stocks, mostly from the S&P 500. Unlike most ETFs, it does not publish its full holdings every day. It is concentrated: NVIDIA alone made up about 16% of assets as of June 30, 2026. Its fee is 0.57% a year, far above the 0.16% average for similar growth funds, most of which track an index.
Price history
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TCHP -1.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| TCHP official prospectus, to Dec 31, 2025 | — | +18.59% | — | +12.16% | — | +13.61% |
| TCHP price data to Oct 27, 2026 | +0.1% | -1.2% | +23.5% | +8.5% | — | +10.2% |
- Over the year to Oct 27, 2026, TCHP returned -1.2%, 6th of 9 among similar funds.
- Its 5-year annualized return was +8.5%.
- Its worst full calendar year was 2022 (-37.8%); its best was 2023 (+50.1%).
- The deepest fall in its price history was 42.3% (Nov 19, 2021 to Nov 9, 2022), recovered by Mar 1, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.1% | — |
| 2025 | +18.4% | +18.59% |
| 2024 | +36.1% | +35.87% |
| 2023 | +50.1% | +50.10% |
| 2022 | -37.8% | -37.88% |
| 2021 | — | +18.16% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 38.3% over that stretch · deepest drop along the way 38.3%, back to its old high 15.7 months after the low |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 66 securities; the ten largest made up 56.7% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 15.95% | |
| ALPHABET INC CL C | 6.31% | |
| BROADCOM INC | 5.96% | |
| ALPHABET INC CL A | 5.85% | |
| APPLE INC | 4.54% | |
| MICROSOFT CORP | 4.38% | |
| ADVANCED MICRO DEVICES | 3.64% | |
| META PLATFORMS INC-CLASS A | 3.51% | |
| AMAZON.COM INC | 3.32% | |
| CARVANA CO | 3.24% | |
| ELI LILLY & CO | 3.20% | |
| MICRON TECHNOLOGY INC | 2.62% | |
| TESLA INC | 2.61% | |
| LAM RESEARCH CORP | 2.51% | |
| APPLIED MATERIALS INC | 2.50% |
By country
United States 94.24%Netherlands 1.61%Taiwan 1.06%Switzerland 0.98%Ireland 0.77%By asset type
Stocks 99.72%By sector
Sectors of the companies held, for the 93.6% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $94.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +13.01%, +5.63%, -4.94%.
How it works
TCHP does not track an index. T. Rowe Price's managers choose the stocks and decide how much of each to own. The fund keeps at least 80% of its assets in "blue chip growth" companies. It defines these as companies in the S&P 500 that also appear in a third-party growth index. The managers look for firms with leading market positions, experienced management, strong finances and the potential for above-average earnings growth. Some should also have room to grow their dividends. The fund is "nondiversified," which means it can put more of its money into a single company than a diversified fund can.
As of June 30, 2026, the fund held 66 stocks, and the top 10 lines made up about 57% of assets. NVIDIA was 15.9%. Alphabet's two share classes together were about 12%, and Broadcom was 6.0%. Technology made up 47.6% of the portfolio. Turnover, the share of the portfolio replaced in a year, was 15.8%, which means the managers trade fairly little. The fund used no derivatives or leverage.
TCHP shows only a daily "Proxy Portfolio," a basket of stocks built to track the real portfolio's daily moves without matching it. The prospectus warns that the market price may drift from net asset value (NAV), the value of the underlying holdings, especially when markets are volatile.
What it really costs
- TCHP charges 0.57% a year, versus an average of 0.16% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $58 in the first year and $714 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TCHP | $58 | $183 | $318 | $714 |
In a retirement portfolio
It is a concentrated, high-fee, actively managed growth fund with heavy technology exposure and a 42.3% peak-to-trough drop in its short history.
TCHP could add growth from large US companies such as NVIDIA, Alphabet and Broadcom, but the ride has been bumpy. The fund is too young to have been through the 2008 financial crisis or the 2020 COVID crash. In the 2022 bear market it fell 38.3%, and 2022 was its worst calendar year, with a loss of 37.88%. Its deepest drop was 42.3%, from November 2021 to November 2022. It took about 15.7 months, until March 2024, to recover. Anyone who had to sell shares near that low would have locked in steep losses.
The fund paid no distributions in the year to October 27, 2026, so any spending money would have to come from selling shares. Its 0.57% fee works out to about $58 in the first year on $10,000, using the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want an active manager picking large US growth stocks, with low turnover of 15.8% a year.
- People comfortable with heavy technology exposure: 47.6% in technology and about 16% in NVIDIA alone as of June 30, 2026.
- Long-term holders who can sit through drops like the 42.3% fall between November 2021 and November 2022.
Look elsewhere if
- Cost-focused investors: the 0.57% fee ranks 9th of 9 among similar funds, whose average is 0.16%. VONG charges 0.07%.
- Anyone who needs regular income: TCHP paid no distributions in the year to October 27, 2026.
- Investors who want to see full holdings daily: TCHP publishes only a proxy portfolio, and its market price can drift from its underlying value.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| TCHP this fund | — | 0.57% | $2.16B | -1.2% | +23.5% |
| TGRW T. Rowe Price Growth Stock ETF | 76% | 0.52% | $1.03B | -0.6% | +21.4% |
| IWY iShares Russell Top 200 Growth ETF | 74% | 0.2% | $16.96B | -3.4% | +20.7% |
| VONG Vanguard Russell 1000 Growth ETF | 69% | 0.07% | $54.28B | -2.3% | +22.4% |
| IWF iShares Russell 1000 Growth ETF | 69% | 0.19% | $128.90B | -3.7% | +20.3% |
| SPYG SPDR Portfolio S&P 500 Growth ETF | 68% | 0.04% | $52.99B | +7.2% | +25.3% |
| IVW iShares S&P 500 Growth ETF | 68% | 0.18% | $74.97B | +7.0% | +25.2% |
| MGK Vanguard Mega Cap Growth ETF | 67% | 0.07% | $33.30B | +2.5% | +23.2% |
Questions investors ask
Is TCHP good for retirement?
It depends on the role it plays. TCHP is a concentrated growth fund with no income, so it fits better as a smaller, higher-risk holding than as a core position. It fell 38.3% in the 2022 bear market and took until February 2024 to recover. It paid no distributions in the year to October 27, 2026. Retirees drawing money from it in a bad year would have had to sell shares at low prices.
Does TCHP pay dividends?
Not in the most recent year. TCHP paid no distributions in the 12 months to October 27, 2026, and its trailing yield was 0%. The prospectus says some of the companies it targets should have good prospects for dividend growth. Still, the fund's goal is long-term capital growth, not income. Its largest holdings, such as NVIDIA, Alphabet and Broadcom, are owned for growth rather than payouts.
What's the difference between TCHP and TGRW?
Both are actively managed T. Rowe Price growth ETFs, and about 76% of their holdings overlap, based on the latest N-PORT reports. TGRW (T. Rowe Price Growth Stock ETF) charges 0.52% a year versus 0.57% for TCHP. As of October 27, 2026, TGRW returned -0.6% over one year and 21.4% a year over three years. TCHP returned -1.2% and 23.5% over the same periods.
What are TCHP's top holdings?
As of June 30, 2026, NVIDIA was by far the largest holding at 15.9% of assets. Next came Alphabet, with its Class C and Class A shares together at about 12%, then Broadcom at 6.0%, Apple at 4.5% and Microsoft at 4.4%. The top 10 lines made up about 57% of the fund. Technology accounted for 47.6% and communication services for 17.7%.
How has TCHP performed compared with index growth funds?
Its long-run record is strong, but its recent results trail index funds. Through December 31, 2025, the prospectus shows average annual returns of 12.16% over five years and 13.61% since its 2020 launch. Over the year to October 27, 2026, TCHP returned -1.2%, ranking 9th of 9 similar funds. SPYG (SPDR Portfolio S&P 500 Growth ETF) returned 9.9% over the year to October 29, 2026, and charges 0.04%.