TVAL vs. BALI ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to BlackRock Advantage Large Cap Income ETF (BALI)

TVAL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF

TVAL Description

The fund will invest primarily in U.S. equity securities. In taking a value approach to investment selection, the adviser seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. Some of the principal measures used to identify such stocks are: price/earnings ratio, price/book value ratio, price/sales ratio, dividend yield, price/cash flow, undervalued assets, and restructuring opportunities. The fund may purchase the stocks of companies of any size, but typically focuses on larger companies.

Grade (RS Rating)

Last Trade

$33.11

Average Daily Volume

13,066

Number of Holdings ^*

144

* may have additional holdings in another (foreign) market

BALI

BlackRock Advantage Large Cap Income ETF

BALI Description

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in large cap equity securities and derivatives that have similar economic characteristics to such securities. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.09

Average Daily Volume

95,490

Number of Holdings ^*

149

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	BALI
30 Days	2.98%	2.84%
60 Days	4.22%	3.90%
90 Days	5.88%	5.67%
12 Months	29.14%	27.77%

44 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in BALI	Overlap
ACN	C	0.7%	0.06%	0.06%
ALL	A	0.39%	0.4%	0.39%
AVB	B	1.22%	0.15%	0.15%
C	A	0.81%	1.05%	0.81%
CAG	D	0.4%	0.01%	0.01%
CI	F	0.87%	0.12%	0.12%
CL	D	0.84%	0.87%	0.84%
CMCSA	B	0.46%	0.9%	0.46%
CME	A	0.23%	1.12%	0.23%
COP	C	1.25%	0.5%	0.5%
CSX	B	0.49%	0.07%	0.07%
CVX	A	0.73%	1.53%	0.73%
ELV	F	1.81%	0.2%	0.2%
EQIX	A	0.16%	0.0%	0.0%
GOOG	C	0.95%	1.67%	0.95%
HAL	C	0.22%	0.39%	0.22%
HCA	F	0.45%	0.57%	0.45%
HD	A	0.63%	0.01%	0.01%
JNJ	D	1.82%	0.03%	0.03%
JPM	A	1.23%	1.16%	1.16%
KMB	D	0.66%	1.01%	0.66%
LLY	F	1.19%	0.94%	0.94%
MCD	D	0.46%	0.0%	0.0%
MCK	B	0.8%	0.21%	0.21%
META	D	0.87%	1.57%	0.87%
MMC	B	0.67%	1.22%	0.67%
MRK	F	0.8%	1.35%	0.8%
MSFT	F	0.65%	7.07%	0.65%
MSI	B	0.34%	0.56%	0.34%
MU	D	0.45%	0.37%	0.37%
PG	A	0.72%	0.15%	0.15%
PGR	A	0.48%	1.2%	0.48%
PM	B	1.41%	1.26%	1.26%
QCOM	F	1.08%	1.02%	1.02%
RSG	A	0.62%	1.06%	0.62%
SPGI	C	0.26%	0.26%	0.26%
TJX	A	0.29%	0.34%	0.29%
TMO	F	1.12%	0.1%	0.1%
TT	A	0.31%	0.4%	0.31%
UNH	C	1.9%	0.98%	0.98%
UPS	C	0.28%	1.13%	0.28%
VZ	C	0.58%	0.93%	0.58%
WMT	A	1.89%	1.22%	1.22%
XOM	B	2.56%	0.4%	0.4%

TVAL Overweight 100 Positions Relative to BALI

Symbol	Grade	Weight
CB	C	2.23%
HIG	B	1.96%
BAC	A	1.89%
WFC	A	1.77%
SO	D	1.67%
FI	A	1.53%
KVUE	A	1.49%
LHX	C	1.36%
GE	D	1.21%
SWK	D	1.1%
CMI	A	1.09%
BDX	F	1.01%
EQH	B	1.0%
SCHW	B	0.89%
TMUS	B	0.88%
WY	D	0.88%
AIG	B	0.87%
ZBH	C	0.85%
EOG	A	0.82%
FITB	A	0.77%
NWSA	B	0.75%
VST	B	0.74%
NSC	B	0.74%
LIN	D	0.73%
KO	D	0.72%
TXN	C	0.7%
HUBB	B	0.7%
GEV	B	0.7%
TTE	F	0.7%
HON	B	0.68%
SRE	A	0.68%
AEE	A	0.65%
DHR	F	0.65%
IP	B	0.64%
WDC	D	0.6%
NEE	D	0.59%
USB	A	0.56%
BA	F	0.56%
MS	A	0.56%
D	C	0.55%
AZO	C	0.52%
RPM	A	0.52%
ROK	B	0.52%
CF	B	0.52%
BAX	D	0.5%
HWM	A	0.48%
REXR	F	0.48%
AZN	D	0.47%
MAR	B	0.47%
WMB	A	0.46%
EQT	B	0.46%
APO	B	0.46%
TDG	D	0.46%
HBAN	A	0.45%
ARES	A	0.45%
PSA	D	0.44%
BLK	C	0.43%
FANG	D	0.43%
MDLZ	F	0.43%
REGN	F	0.42%
UNP	C	0.42%
CPAY	A	0.42%
LEN	D	0.42%
LVS	C	0.41%
LAMR	D	0.4%
KDP	D	0.4%
TSM	B	0.39%
AMAT	F	0.38%
ABBV	D	0.36%
YUM	B	0.36%
BKR	B	0.35%
KEYS	A	0.35%
ADI	D	0.35%
PLD	D	0.34%
EFX	F	0.33%
A	D	0.33%
COF	B	0.33%
STLD	B	0.32%
UAL	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
CAT	B	0.3%
VRTX	F	0.29%
ROP	B	0.29%
MOH	F	0.28%
CARR	D	0.27%
MCHP	D	0.27%
AXP	A	0.26%
CDW	F	0.25%
MGM	D	0.24%
ZTS	D	0.23%
CVS	D	0.23%
VMC	B	0.22%
AMD	F	0.22%
MET	A	0.22%
BHP	F	0.2%
DIS	B	0.2%
AVY	D	0.19%
SNY	F	0.19%
DTE	C	0.17%

TVAL Underweight 105 Positions Relative to BALI

Symbol	Grade	Weight
AAPL	C	-7.52%
NVDA	C	-7.31%
AMZN	C	-4.94%
GOOGL	C	-3.06%
MA	C	-1.81%
V	A	-1.33%
GILD	C	-1.32%
WM	A	-1.22%
PFE	D	-1.19%
SHW	A	-1.18%
CTAS	B	-1.15%
CAH	B	-1.12%
OMF	A	-1.1%
LMT	D	-1.09%
T	A	-1.07%
TSLA	B	-1.06%
FTNT	C	-1.0%
PNW	B	-1.0%
MDT	D	-0.93%
BRK.A	B	-0.84%
KR	B	-0.83%
F	C	-0.82%
NOC	D	-0.82%
MO	A	-0.8%
TFC	A	-0.65%
AVGO	D	-0.64%
AMGN	D	-0.62%
LRCX	F	-0.59%
TXRH	C	-0.54%
ADBE	C	-0.52%
CCEP	C	-0.47%
HESM	B	-0.46%
UTHR	C	-0.46%
SYK	C	-0.45%
EXPD	D	-0.44%
NBIX	C	-0.44%
FE	C	-0.42%
MANH	D	-0.41%
LDOS	C	-0.4%
NOW	A	-0.37%
ETN	A	-0.36%
CSCO	B	-0.36%
ES	D	-0.35%
TRV	B	-0.34%
NTRA	B	-0.33%
EXC	C	-0.31%
MTN	C	-0.31%
CMS	C	-0.3%
EME	C	-0.3%
OSK	B	-0.28%
NTAP	C	-0.26%
HUBS	A	-0.25%
WRB	A	-0.25%
NNN	D	-0.25%
PH	A	-0.24%
CRWD	B	-0.23%
SPG	B	-0.23%
WING	D	-0.22%
HAS	D	-0.21%
PCAR	B	-0.2%
EXEL	B	-0.18%
CPT	B	-0.18%
NFLX	A	-0.15%
OHI	C	-0.15%
TSCO	D	-0.14%
GD	F	-0.14%
BSX	B	-0.14%
INCY	C	-0.14%
BKNG	A	-0.13%
SMAR	A	-0.12%
KMI	A	-0.11%
DDS	B	-0.11%
IDA	A	-0.1%
DUK	C	-0.1%
HES	B	-0.07%
DHI	D	-0.07%
KRG	B	-0.07%
ED	D	-0.06%
WCN	A	-0.06%
NYT	C	-0.05%
ROST	C	-0.05%
WHR	B	-0.05%
SNAP	C	-0.04%
K	A	-0.04%
DOC	D	-0.04%
GWW	B	-0.03%
BIIB	F	-0.03%
INGR	B	-0.03%
CBOE	B	-0.03%
IVZ	B	-0.02%
NUE	C	-0.02%
PAG	B	-0.02%
MELI	D	-0.02%
SON	D	-0.02%
FLEX	A	-0.02%
JNPR	F	-0.02%
DVN	F	-0.01%
CLX	B	-0.01%
LEVI	F	-0.01%
XP	F	-0.01%
FOXA	B	-0.0%
TSN	B	-0.0%
BBY	D	-0.0%
RGA	A	-0.0%
COST	B	-0.0%