TCAF vs. PHO ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF (TCAF) to Invesco Water Resources ETF (PHO)

TCAF

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF

TCAF Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in equity securities. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The fund may at times invest significantly in certain sectors, including the information technology and healthcare sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.89

Average Daily Volume

565,915

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PHO

Invesco Water Resources ETF

PHO Description

The PowerShares Water Resources Portfolio (Fund) is based on the NASDAQ OMX US Water Index. The Fund generally will invest at least 90% of its total assets in common stocks and American depositary receipts (ADRs) of companies in the water industry that comprise the Underlying Index. The Underlying Index seeks to track the performance of US exchange-listed companies that create products designed to conserve and purify water for homes, businesses and industries. The Fund and the Index are rebalanced quarterly and reconstituted annually in April.

Grade (RS Rating)

Last Trade

$71.12

Average Daily Volume

69,210

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TCAF	PHO
30 Days	1.74%	2.46%
60 Days	2.92%	1.93%
90 Days	3.99%	2.04%
12 Months	28.41%	27.87%

3 Overlapping Holdings

Symbol	Grade	Weight in TCAF	Weight in PHO	Overlap
IEX	B	0.33%	4.46%	0.33%
ROP	B	1.74%	8.0%	1.74%
VLTO	D	1.49%	6.02%	1.49%

TCAF Overweight 90 Positions Relative to PHO

Symbol	Grade	Weight
MSFT	F	8.23%
NVDA	C	6.12%
AAPL	C	5.34%
AMZN	C	4.51%
GOOGL	C	3.12%
UNH	C	2.95%
FTV	C	2.71%
DHR	F	2.63%
BDX	F	2.48%
RVTY	F	2.44%
META	D	2.3%
AEE	A	1.91%
PTC	A	1.67%
WCN	A	1.64%
CRM	B	1.63%
INTU	C	1.55%
MA	C	1.53%
LLY	F	1.5%
CNP	B	1.49%
RTX	C	1.47%
V	A	1.44%
AVGO	D	1.39%
DTE	C	1.31%
LIN	D	1.24%
ABT	B	1.24%
MLM	B	1.2%
IR	B	1.19%
NOC	D	1.18%
NI	A	1.09%
ICE	C	1.06%
MCK	B	1.05%
YUM	B	1.04%
AMD	F	1.02%
MMC	B	0.98%
ADSK	A	0.95%
TMO	F	0.93%
HLT	A	0.92%
CMS	C	0.82%
MCD	D	0.78%
TDY	B	0.71%
AMT	D	0.7%
SCI	B	0.68%
AVTR	F	0.67%
ELV	F	0.67%
ABBV	D	0.67%
AJG	B	0.62%
HUM	C	0.55%
SBAC	D	0.55%
GEHC	F	0.54%
NXPI	D	0.53%
BIIB	F	0.53%
KKR	A	0.49%
KDP	D	0.46%
RSG	A	0.44%
AUR	C	0.41%
SBUX	A	0.38%
NKE	D	0.36%
EXC	C	0.34%
BKNG	A	0.34%
LRCX	F	0.32%
ANSS	B	0.32%
CSX	B	0.28%
MAR	B	0.28%
ARGX	A	0.26%
DLTR	F	0.25%
ACN	C	0.25%
CME	A	0.24%
WTW	B	0.21%
AME	A	0.2%
MS	A	0.2%
SPGI	C	0.2%
CMG	B	0.16%
SYK	C	0.15%
SLB	C	0.15%
MSCI	C	0.14%
DIS	B	0.14%
CDNS	B	0.12%
LNT	A	0.12%
KLAC	D	0.12%
WEC	A	0.12%
XEL	A	0.11%
VMC	B	0.11%
TW	A	0.1%
INFA	D	0.1%
GS	A	0.1%
PNC	B	0.1%
BA	F	0.09%
TYL	B	0.06%
TT	A	0.05%
APH	A	0.04%

TCAF Underweight 33 Positions Relative to PHO

Symbol	Grade	Weight
ECL	D	-7.84%
XYL	D	-6.17%
PNR	A	-4.83%
ACM	A	-4.32%
WAT	B	-4.19%
ITRI	B	-4.01%
AWK	D	-3.79%
CNM	D	-3.58%
TTC	D	-3.54%
AOS	F	-3.49%
WMS	D	-3.39%
MLI	C	-2.91%
TTEK	F	-2.8%
VMI	B	-2.67%
WTRG	B	-2.61%
WTS	B	-1.86%
ZWS	B	-1.71%
BMI	B	-1.67%
MWA	B	-1.42%
SBS	B	-1.16%
AWR	B	-0.88%
FELE	B	-0.86%
CWT	D	-0.74%
LNN	B	-0.67%
SJW	D	-0.54%
MSEX	B	-0.43%
ERII	D	-0.36%
GRC	A	-0.23%
ARTNA	D	-0.15%
CWCO	C	-0.13%
YORW	D	-0.11%
NWPX	A	-0.09%
GWRS	B	-0.02%