TEQI vs. USMV ETF Comparison

Comparison of T. Rowe Price Equity Income ETF (TEQI) to iShares MSCI USA Minimum Volatility ETF (USMV)

TEQI

T. Rowe Price Equity Income ETF

TEQI Description

The investment seeks a high level of dividend income and long-term capital growth. The fund will normally invest at least 80% of its assets in common stocks listed in the United States, with an emphasis on large-capitalization stocks that have a strong track record of paying dividends or that are believed to be undervalued (or futures that have similar economic characteristics). It typically employs a value approach in selecting investments. The fund's in-house research team seeks companies that appear to be undervalued by various measures and may be temporarily out of favor but have good prospects for capital appreciation and dividend growth.

Grade (RS Rating)

Last Trade

$43.23

Average Daily Volume

26,680

Number of Holdings ^*

112

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	TEQI	USMV
30 Days	3.09%	1.70%
60 Days	4.07%	2.42%
90 Days	5.51%	4.02%
12 Months	27.01%	25.63%

40 Overlapping Holdings

Symbol	Grade	Weight in TEQI	Weight in USMV	Overlap
ABBV	D	0.27%	1.04%	0.27%
ACN	C	0.8%	1.29%	0.8%
AEE	A	1.04%	0.24%	0.24%
ATO	A	0.1%	0.06%	0.06%
BDX	F	1.72%	0.56%	0.56%
BMY	B	0.59%	0.49%	0.49%
CB	C	2.08%	1.47%	1.47%
CI	F	1.13%	0.21%	0.21%
CL	D	0.75%	0.41%	0.41%
CMCSA	B	0.62%	0.39%	0.39%
CRM	B	0.22%	0.05%	0.05%
CSCO	B	0.28%	1.47%	0.28%
CVS	D	1.09%	0.04%	0.04%
CVX	A	0.18%	0.34%	0.18%
D	C	1.17%	0.23%	0.23%
ELV	F	2.3%	0.52%	0.52%
EOG	A	0.58%	0.17%	0.17%
FI	A	1.13%	0.69%	0.69%
HD	A	0.12%	0.3%	0.12%
HIG	B	1.43%	0.12%	0.12%
HON	B	0.33%	0.25%	0.25%
HUM	C	0.16%	0.4%	0.16%
JNJ	D	1.17%	1.18%	1.17%
KMB	D	1.63%	0.21%	0.21%
L	A	1.01%	0.28%	0.28%
MDLZ	F	0.1%	0.44%	0.1%
MDT	D	0.98%	0.13%	0.13%
MRK	F	0.34%	1.01%	0.34%
MSFT	F	1.48%	1.34%	1.34%
PFE	D	0.48%	0.2%	0.2%
SO	D	2.29%	1.35%	1.35%
T	A	0.14%	0.74%	0.14%
TJX	A	0.34%	0.45%	0.34%
TSN	B	0.83%	0.71%	0.71%
TXN	C	0.97%	1.39%	0.97%
UNH	C	1.57%	1.34%	1.34%
VZ	C	0.35%	1.35%	0.35%
WMB	A	0.56%	0.31%	0.31%
WMT	A	1.23%	1.78%	1.23%
XOM	B	1.61%	0.45%	0.45%

TEQI Overweight 72 Positions Relative to USMV

Symbol	Grade	Weight
MET	A	2.06%
GE	D	2.05%
WFC	A	2.02%
TTE	F	1.99%
QCOM	F	1.96%
AIG	B	1.85%
LHX	C	1.81%
PM	B	1.75%
CF	B	1.72%
KVUE	A	1.68%
SWK	D	1.62%
NWSA	B	1.57%
WY	D	1.54%
SCHW	B	1.49%
EQR	B	1.49%
ZBH	C	1.47%
IP	B	1.47%
JPM	A	1.41%
EQH	B	1.39%
C	A	1.34%
HBAN	A	1.22%
AMAT	F	1.13%
LVS	C	1.12%
DIS	B	1.03%
UPS	C	1.03%
USB	A	0.99%
BA	F	0.92%
FITB	A	0.92%
NEE	D	0.9%
AZN	D	0.88%
NXPI	D	0.87%
CAG	D	0.87%
LUV	C	0.84%
SNY	F	0.83%
SRE	A	0.77%
RYN	D	0.76%
VTRS	A	0.7%
CMI	A	0.63%
EQT	B	0.61%
GEV	B	0.59%
BAC	A	0.58%
NSC	B	0.57%
REXR	F	0.54%
MAT	D	0.48%
CSX	B	0.46%
GM	B	0.41%
MRO	B	0.4%
TMO	F	0.37%
COP	C	0.35%
MMM	D	0.34%
INTC	D	0.34%
KSS	F	0.33%
MS	A	0.33%
SRCL	C	0.32%
BKR	B	0.31%
DG	F	0.3%
GEHC	F	0.29%
APO	B	0.28%
BIIB	F	0.27%
NI	A	0.25%
HES	B	0.23%
UNP	C	0.19%
SLB	C	0.18%
CNC	D	0.17%
PCG	A	0.16%
AMD	F	0.15%
ROK	B	0.15%
CAH	B	0.15%
BK	A	0.15%
NWS	B	0.08%
VNO	B	0.07%
GS	A	0.04%

TEQI Underweight 130 Positions Relative to USMV

Symbol	Grade	Weight
TMUS	B	-1.95%
MSI	B	-1.81%
PGR	A	-1.67%
IBM	C	-1.66%
WCN	A	-1.56%
RSG	A	-1.55%
BRK.A	B	-1.55%
DUK	C	-1.49%
APH	A	-1.44%
WM	A	-1.44%
NOC	D	-1.43%
MCK	B	-1.35%
ORCL	B	-1.31%
ROP	B	-1.3%
AJG	B	-1.27%
MCD	D	-1.25%
LLY	F	-1.25%
PG	A	-1.23%
AVGO	D	-1.19%
TRV	B	-1.15%
ED	D	-1.13%
MMC	B	-1.11%
PEP	F	-1.01%
GDDY	A	-1.0%
AAPL	C	-0.99%
AZO	C	-0.98%
GILD	C	-0.94%
V	A	-0.9%
EA	A	-0.89%
FCNCA	A	-0.88%
CBOE	B	-0.85%
LMT	D	-0.82%
K	A	-0.8%
WEC	A	-0.78%
CTSH	B	-0.76%
NOW	A	-0.75%
MA	C	-0.7%
VRTX	F	-0.69%
ORLY	B	-0.68%
ACGL	D	-0.68%
COR	B	-0.67%
NVDA	C	-0.67%
GIS	D	-0.66%
VRSN	F	-0.64%
KR	B	-0.61%
AMGN	D	-0.59%
FICO	B	-0.59%
REGN	F	-0.59%
KDP	D	-0.59%
TDY	B	-0.57%
KEYS	A	-0.55%
FANG	D	-0.55%
FFIV	B	-0.55%
MPC	D	-0.54%
INCY	C	-0.53%
AON	A	-0.53%
CME	A	-0.53%
PTC	A	-0.52%
YUM	B	-0.5%
XEL	A	-0.46%
NEM	D	-0.46%
UBER	D	-0.45%
JNPR	F	-0.45%
WDAY	B	-0.43%
EG	C	-0.43%
ERIE	D	-0.42%
VRSK	A	-0.42%
CHD	B	-0.4%
BAH	F	-0.39%
AEP	D	-0.39%
AKAM	D	-0.39%
KHC	F	-0.38%
WTW	B	-0.38%
CTVA	C	-0.38%
ROL	B	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
GEN	B	-0.35%
CDW	F	-0.35%
MKL	A	-0.34%
GRMN	B	-0.33%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WRB	A	-0.31%
GLW	B	-0.31%
FWONK	B	-0.31%
HSY	F	-0.3%
ANET	C	-0.29%
ICE	C	-0.28%
HUBS	A	-0.24%
ADI	D	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
NTAP	C	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PKG	A	-0.2%
DPZ	C	-0.19%
CRWD	B	-0.19%
CMS	C	-0.19%
CDNS	B	-0.18%
MELI	D	-0.18%
MOH	F	-0.18%
SNPS	B	-0.18%
HOLX	D	-0.16%
LIN	D	-0.16%
STX	D	-0.16%
GOOG	C	-0.16%
UTHR	C	-0.14%
AMZN	C	-0.14%
DELL	C	-0.12%
OXY	D	-0.12%
DGX	A	-0.11%
KO	D	-0.1%
LNT	A	-0.1%
RTX	C	-0.09%
ADP	B	-0.09%
ABT	B	-0.09%
OTIS	C	-0.07%
TEL	B	-0.07%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	B	-0.06%
VLO	C	-0.05%
BR	A	-0.05%
GD	F	-0.05%
ULTA	F	-0.04%