TMSL vs. NXTI ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF (TMSL) to Simplify Next Intangible Core Index ETF (NXTI)

TMSL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF

TMSL Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in assets issued by small- or mid-cap companies. The fund may at times invest significantly in certain sectors, such as the information technology sector.

Grade (RS Rating)

Last Trade

$34.42

Average Daily Volume

71,985

Number of Holdings ^*

256

* may have additional holdings in another (foreign) market

NXTI

Simplify Next Intangible Core Index ETF

NXTI Description

NXTI targets US companies with relatively high intangible capital-to-book assets ratios within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating a ratio of intangible capital-to-book assets for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the highest intangible capital-to-book assets ratio are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Constituents are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$30.14

Average Daily Volume

462

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	TMSL	NXTI
30 Days	5.15%	4.78%
60 Days	5.62%	6.89%
90 Days	6.97%	9.93%
12 Months	34.59%

33 Overlapping Holdings

Symbol	Grade	Weight in TMSL	Weight in NXTI	Overlap
ALKS	C	0.21%	0.14%	0.14%
APPF	B	0.08%	0.1%	0.08%
AVY	F	0.16%	0.12%	0.12%
BPMC	B	0.32%	0.2%	0.2%
BURL	B	0.53%	0.14%	0.14%
CVNA	B	0.5%	0.19%	0.19%
DKNG	B	0.39%	0.1%	0.1%
DOCU	B	0.71%	0.18%	0.18%
DT	D	0.87%	0.19%	0.19%
DUOL	A	0.47%	0.14%	0.14%
GDDY	A	0.75%	0.31%	0.31%
HIG	B	0.15%	0.13%	0.13%
INSM	C	0.59%	0.39%	0.39%
IONS	F	0.11%	0.22%	0.11%
IOT	A	0.49%	0.28%	0.28%
MANH	D	0.3%	0.19%	0.19%
MDGL	B	0.11%	0.2%	0.11%
NBIX	C	0.29%	0.4%	0.29%
NI	A	0.59%	0.14%	0.14%
NTNX	B	0.59%	0.21%	0.21%
NTRA	A	0.25%	0.45%	0.25%
NWS	A	0.35%	0.22%	0.22%
RARE	F	0.18%	0.15%	0.15%
RDDT	A	0.23%	0.24%	0.23%
RL	C	0.63%	0.11%	0.11%
RS	B	0.61%	0.09%	0.09%
SRPT	F	0.16%	0.43%	0.16%
TOST	B	0.43%	0.19%	0.19%
TW	A	0.17%	0.11%	0.11%
TXT	D	1.17%	0.1%	0.1%
ULTA	F	0.33%	0.16%	0.16%
WING	D	0.5%	0.08%	0.08%
ZBRA	B	0.57%	0.23%	0.23%

TMSL Overweight 223 Positions Relative to NXTI

Symbol	Grade	Weight
SWK	D	1.44%
SEM	B	1.35%
FTI	A	1.23%
CPAY	A	1.23%
MKSI	C	1.19%
WAL	B	1.15%
BPOP	C	1.14%
THC	D	1.13%
RNR	C	0.95%
REXR	F	0.84%
ESAB	C	0.81%
WBS	A	0.8%
LAMR	C	0.79%
RPM	A	0.77%
SSNC	B	0.75%
HII	F	0.75%
VOYA	B	0.67%
LDOS	C	0.65%
BFAM	D	0.65%
GEN	B	0.64%
WU	F	0.62%
TFX	F	0.61%
TOL	B	0.6%
CUBE	C	0.59%
BDC	C	0.59%
VNO	C	0.58%
CRBG	B	0.58%
SAIA	B	0.56%
HBAN	A	0.56%
PATK	C	0.56%
SITE	F	0.55%
EME	A	0.54%
OPCH	D	0.54%
STLD	B	0.54%
CF	A	0.53%
ENTG	D	0.52%
FBP	C	0.52%
XPRO	D	0.52%
STNG	F	0.52%
RGA	A	0.51%
MNDY	C	0.51%
WYNN	C	0.51%
MWA	B	0.51%
SUM	B	0.5%
AGCO	D	0.5%
VTRS	A	0.5%
CW	C	0.49%
CLH	C	0.48%
APG	B	0.48%
EWBC	A	0.48%
WSC	F	0.48%
COOP	B	0.47%
ST	F	0.46%
BLX	B	0.46%
EQH	C	0.46%
EXAS	D	0.45%
TYL	B	0.45%
TTC	C	0.45%
EHC	B	0.45%
OMF	A	0.45%
MIDD	C	0.44%
MORN	B	0.44%
BRX	A	0.43%
HUBB	B	0.43%
RRC	B	0.43%
JBL	C	0.42%
TKR	D	0.42%
PLNT	A	0.41%
LRN	A	0.41%
KFY	B	0.41%
FMC	D	0.41%
NVR	D	0.41%
HOLX	D	0.4%
TNL	A	0.4%
EG	C	0.4%
VFC	C	0.39%
AEE	A	0.39%
AWI	A	0.39%
FND	D	0.39%
BCO	F	0.39%
RYN	D	0.39%
BBWI	C	0.38%
SUI	C	0.38%
DPZ	C	0.38%
NCLH	B	0.37%
PHIN	A	0.37%
VRRM	F	0.37%
PR	B	0.36%
REG	A	0.36%
PTC	B	0.36%
NXST	C	0.35%
FITB	B	0.35%
PCVX	D	0.34%
UHS	D	0.34%
RNA	C	0.34%
UPWK	B	0.33%
STGW	A	0.33%
FLO	D	0.33%
DRH	B	0.32%
GEO	B	0.32%
KMPR	A	0.32%
DOLE	D	0.32%
USFD	A	0.32%
MAIN	A	0.31%
DOX	D	0.31%
SKWD	A	0.31%
RVTY	F	0.31%
MOH	F	0.3%
LPX	B	0.3%
OC	A	0.3%
POR	C	0.3%
HWM	A	0.29%
EVRI	A	0.29%
SHOO	F	0.29%
BERY	C	0.28%
TECH	F	0.28%
OFG	B	0.28%
ASGN	F	0.28%
LSTR	D	0.28%
ARMK	B	0.28%
BJ	A	0.28%
FCN	F	0.28%
AYI	B	0.27%
LPLA	A	0.27%
FTDR	B	0.27%
ATEN	A	0.27%
PAYO	A	0.27%
ELS	C	0.26%
CASY	A	0.26%
CPA	D	0.26%
VNT	C	0.26%
STEP	C	0.26%
KRC	B	0.26%
ELF	C	0.26%
ELAN	D	0.26%
PFGC	B	0.25%
PLAB	C	0.25%
HST	C	0.25%
KYMR	D	0.25%
SCI	B	0.25%
CHDN	B	0.25%
BLDR	D	0.25%
VRTS	B	0.25%
AZEK	A	0.24%
PCTY	C	0.24%
MTX	B	0.24%
MCB	B	0.24%
GLOB	B	0.24%
RVMD	C	0.24%
BLBD	D	0.24%
BOX	B	0.24%
CBOE	C	0.23%
CRNX	C	0.23%
BLD	D	0.23%
OIS	B	0.23%
EEFT	B	0.23%
CTLT	C	0.23%
TREX	C	0.23%
WFRD	D	0.22%
UFPI	C	0.22%
TDW	F	0.22%
CELH	F	0.22%
CRL	D	0.22%
ESS	B	0.22%
ALV	C	0.22%
EPR	C	0.21%
ONON	A	0.21%
LSCC	D	0.21%
VRNT	C	0.21%
BRZE	C	0.21%
RGEN	D	0.21%
WFG	C	0.21%
LPRO	B	0.21%
PK	C	0.2%
SWN	C	0.2%
PRDO	B	0.2%
KEX	B	0.2%
THG	A	0.2%
TXRH	B	0.2%
EVRG	A	0.2%
CWEN	C	0.2%
NWE	B	0.19%
OLLI	D	0.19%
HAFC	B	0.19%
NFG	A	0.19%
BGNE	D	0.18%
AHH	D	0.18%
LUV	C	0.18%
LEGN	D	0.18%
PBH	A	0.17%
ENS	F	0.17%
WDC	D	0.17%
PLUS	F	0.16%
AVNT	B	0.16%
BFS	C	0.16%
REPL	D	0.16%
BWXT	B	0.16%
VERA	C	0.16%
FIX	A	0.16%
GMRE	F	0.15%
XRAY	F	0.15%
CVLT	B	0.15%
CNP	A	0.15%
WTTR	A	0.15%
NRIX	C	0.14%
TDC	D	0.14%
AMAL	B	0.14%
ESNT	F	0.13%
ACM	B	0.12%
XNCR	B	0.12%
ASND	F	0.12%
NTLA	F	0.11%
ACAD	C	0.11%
CLDX	F	0.11%
AKRO	B	0.11%
IDYA	F	0.1%
ANET	C	0.1%
RCKT	F	0.08%
BXC	B	0.08%
PRTA	F	0.07%
SRRK	C	0.06%
PLRX	D	0.06%
SWTX	C	0.04%

TMSL Underweight 164 Positions Relative to NXTI

Symbol	Grade	Weight
META	D	-5.28%
WMT	A	-5.09%
BRK.A	B	-4.18%
XOM	B	-3.43%
MA	B	-3.02%
ADBE	C	-2.94%
CSCO	B	-2.73%
NOW	A	-2.29%
IBM	C	-2.28%
UNH	B	-2.16%
INTU	B	-2.08%
HD	B	-1.6%
PANW	B	-1.5%
KO	D	-1.23%
ALNY	D	-1.07%
IDXX	F	-1.04%
UBER	F	-1.04%
DELL	B	-1.03%
PEP	F	-1.02%
PLTR	B	-0.99%
SNPS	B	-0.95%
SPOT	B	-0.93%
MSI	B	-0.91%
HON	C	-0.91%
PM	B	-0.9%
BKNG	A	-0.88%
CDNS	B	-0.87%
NKE	F	-0.82%
WDAY	B	-0.81%
UPS	C	-0.79%
FTNT	C	-0.77%
AXP	A	-0.77%
BX	A	-0.77%
AMAT	F	-0.74%
ADSK	A	-0.72%
TGT	F	-0.67%
GEV	B	-0.66%
TEAM	A	-0.61%
WMB	A	-0.59%
LOW	C	-0.59%
ABNB	C	-0.58%
FICO	B	-0.57%
PGR	A	-0.56%
CL	D	-0.55%
CTAS	B	-0.55%
APP	B	-0.54%
DDOG	A	-0.54%
LRCX	F	-0.53%
TT	A	-0.52%
EA	A	-0.5%
ORLY	B	-0.49%
ITW	B	-0.49%
ALGN	D	-0.47%
CTSH	B	-0.47%
MMM	D	-0.47%
INCY	C	-0.46%
D	C	-0.46%
HPQ	B	-0.45%
FDX	B	-0.44%
MMC	B	-0.43%
DASH	B	-0.42%
PH	A	-0.39%
NET	B	-0.38%
KR	B	-0.37%
SHW	B	-0.36%
CI	D	-0.36%
ELV	F	-0.36%
ECL	D	-0.35%
TRGP	A	-0.34%
HUBS	A	-0.34%
MPC	D	-0.33%
EBAY	D	-0.33%
ZS	B	-0.33%
ED	C	-0.32%
PAYX	B	-0.32%
PEN	B	-0.32%
VST	A	-0.32%
KMB	C	-0.31%
GWW	B	-0.31%
CMI	A	-0.3%
HSIC	C	-0.3%
CDW	F	-0.3%
ITCI	C	-0.29%
CVS	D	-0.29%
NTAP	C	-0.29%
PINS	F	-0.29%
EXEL	B	-0.29%
A	D	-0.26%
STX	C	-0.26%
BKR	A	-0.25%
AJG	A	-0.25%
IT	C	-0.24%
AFL	B	-0.24%
MDB	B	-0.24%
SNAP	D	-0.23%
VLTO	C	-0.23%
VMC	B	-0.23%
AMP	A	-0.22%
MNST	C	-0.22%
TRV	B	-0.22%
CYTK	F	-0.2%
AIG	B	-0.2%
INSP	D	-0.19%
ALL	A	-0.19%
PSTG	D	-0.19%
SMMT	D	-0.19%
BBIO	F	-0.18%
FAST	B	-0.18%
EL	F	-0.18%
PRU	A	-0.18%
DD	C	-0.18%
MTD	F	-0.18%
BBY	D	-0.18%
FFIV	B	-0.17%
NRG	B	-0.17%
KEYS	A	-0.17%
CACI	D	-0.16%
OTIS	C	-0.16%
GWRE	A	-0.16%
SYY	D	-0.16%
JNPR	D	-0.16%
GIS	D	-0.16%
HUM	C	-0.15%
CORT	B	-0.15%
ILMN	C	-0.15%
HSY	F	-0.15%
ROL	B	-0.15%
BAH	F	-0.15%
CBRE	B	-0.15%
LYV	A	-0.15%
DECK	A	-0.14%
WAT	C	-0.14%
WSM	C	-0.14%
EXPE	B	-0.14%
AXSM	B	-0.14%
XYL	D	-0.14%
ACGL	C	-0.14%
CNC	D	-0.13%
CLX	A	-0.13%
DOV	A	-0.12%
EXPD	C	-0.12%
K	A	-0.12%
FOLD	F	-0.12%
TER	F	-0.12%
APLS	F	-0.12%
MTCH	D	-0.12%
PPG	F	-0.12%
BRO	B	-0.12%
GTLB	B	-0.11%
TGTX	B	-0.11%
IOVA	F	-0.11%
TSCO	D	-0.11%
NYT	D	-0.11%
LII	A	-0.11%
PCOR	B	-0.11%
AMED	F	-0.1%
ACI	C	-0.1%
GPC	D	-0.1%
DNLI	D	-0.1%
APTV	F	-0.1%
CHWY	B	-0.09%
DYN	F	-0.09%
DLB	B	-0.04%
LNW	F	-0.04%