T. Rowe Price Growth ETF

T. Rowe Price Growth ETF (TGRT) is an actively managed fund that picks mostly large US growth stocks. As of June 30, 2026, it held 94 stocks, led by NVIDIA, Alphabet and Apple. Its 0.38% expense ratio is lower than T. Rowe Price's other growth ETFs but well above growth index funds such as Vanguard Growth ETF (0.04%). It is nondiversified, so a handful of big stocks drive much of its return.

• Over the year to Oct 27, 2026, TGRT returned +1.0%, 4th of 9 among similar funds.
• Its worst full calendar year was 2025 (+16.9%); its best was 2024 (+32.8%).
• The deepest fall in its price history was 22% (Jan 23, 2025 to Apr 8, 2025), recovered by Jun 25, 2025.

As of Jun 30, 2026, the fund held 94 securities; the ten largest made up 53.09% of assets.

By sector

• Over the three months to Jun 30, 2026, investors added a net $312.7M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +13.36%, +6.02%, -3.16%.

TGRT is actively managed. T. Rowe Price's managers choose the stocks instead of copying an index. The fund aims for long-term capital growth and normally keeps at least 80% of its net assets in companies with growth characteristics. It counts a company as having them if its stock is in a third-party growth-oriented index. Within that pool, the managers look for above-average growth in earnings and cash flow. They also want a profitable niche that could keep earnings rising even when the economy slows. The fund typically focuses on large companies.

Stock selection is “bottom up.” That means the managers judge companies one at a time instead of starting from economic forecasts. Sector weights follow from those picks, so the fund can lean heavily on one area, such as information technology. It is also nondiversified, which lets it put more money into a single company than a diversified fund could. As of June 30, 2026, NVIDIA alone was about 14% of assets, and the top 10 holdings made up 53%. Portfolio turnover, the share of holdings replaced over a year, was 22.9%.

Mechanically, it is a plain stock ETF. As of June 30, 2026, about 99% of assets were in stocks, with no derivatives and less than 1% in cash. Shares trade on an exchange at market prices, which can drift from the value of the fund's holdings.

• TGRT charges 0.38% a year, versus an average of 0.34% for the similar funds below (5th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $39 in the first year and $480 over 10 years (assuming a 5% annual return).

Its nondiversified, tech-heavy portfolio, with NVIDIA alone at about 14% of assets as of June 30, 2026, tends to swing more than the broad market.

TGRT could add a concentrated position in large US growth stocks alongside broader funds. It launched in June 2023, so it did not exist during the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 22%, from January 23 to April 8, 2025. It recovered by June 25, 2025, about 2.6 months later. Its weakest calendar year, 2025, still ended with a gain of about 17%. Its one-year beta was 1.37 as of October 27, 2026, which means it tended to swing more than the overall market. Selling shares during a slump could lock in losses. Income is minimal: the trailing yield was 0.07% as of October 27, 2026, paid once a year. In the SEC's standard example, fees on $10,000 total $480 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.