TVAL vs. NBCR ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to Neuberger Berman Core Equity ETF (NBCR)

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

NBCR

Neuberger Berman Core Equity ETF

NBCR Description

To pursue its goal, the fund invests mainly in equity securities of large-capitalization companies, which it defines as companies that have a market capitalization within the market capitalization range of companies in the Russell 1000® Index at the time of initial purchase. The portfolio managers seek to invest in a broadly diversified group of securities that have the potential to outperform the Russell 1000 Index with a lower level of risk through security selection.

Grade (RS Rating)

Last Trade

$27.43

Average Daily Volume

16,373

Number of Holdings ^*

192

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	NBCR
30 Days	2.98%	2.81%
60 Days	4.22%	4.11%
90 Days	5.88%	5.52%
12 Months	29.14%

71 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in NBCR	Overlap
ABBV	D	0.36%	0.86%	0.36%
ACN	C	0.7%	0.47%	0.47%
ADI	D	0.35%	0.5%	0.35%
AIG	B	0.87%	0.76%	0.76%
ALL	A	0.39%	0.45%	0.39%
AMAT	F	0.38%	0.52%	0.38%
AMD	F	0.22%	0.57%	0.22%
APO	B	0.46%	0.32%	0.32%
AVY	D	0.19%	0.29%	0.19%
BA	F	0.56%	0.19%	0.19%
BAC	A	1.89%	0.76%	0.76%
BHP	F	0.2%	0.03%	0.03%
BLK	C	0.43%	0.35%	0.35%
C	A	0.81%	0.39%	0.39%
CARR	D	0.27%	0.36%	0.27%
CAT	B	0.3%	0.51%	0.3%
CDW	F	0.25%	0.13%	0.13%
CL	D	0.84%	0.36%	0.36%
COP	C	1.25%	0.4%	0.4%
CSX	B	0.49%	0.27%	0.27%
CVS	D	0.23%	0.33%	0.23%
D	C	0.55%	0.17%	0.17%
DTE	C	0.17%	0.07%	0.07%
EFX	F	0.33%	0.18%	0.18%
ELV	F	1.81%	0.26%	0.26%
EOG	A	0.82%	0.31%	0.31%
EQT	B	0.46%	0.13%	0.13%
FANG	D	0.43%	0.24%	0.24%
FI	A	1.53%	0.66%	0.66%
FITB	A	0.77%	0.24%	0.24%
GE	D	1.21%	0.94%	0.94%
GOOG	C	0.95%	1.94%	0.95%
HCA	F	0.45%	0.26%	0.26%
HD	A	0.63%	1.22%	0.63%
JNJ	D	1.82%	0.98%	0.98%
JPM	A	1.23%	1.4%	1.23%
KDP	D	0.4%	0.42%	0.4%
LEN	D	0.42%	0.22%	0.22%
LIN	D	0.73%	0.59%	0.59%
LLY	F	1.19%	1.19%	1.19%
LVS	C	0.41%	0.35%	0.35%
MCD	D	0.46%	0.58%	0.46%
MCK	B	0.8%	0.25%	0.25%
MDLZ	F	0.43%	0.36%	0.36%
MET	A	0.22%	0.22%	0.22%
MOH	F	0.28%	0.17%	0.17%
MSFT	F	0.65%	6.01%	0.65%
MSI	B	0.34%	0.35%	0.34%
NEE	D	0.59%	0.33%	0.33%
NSC	B	0.74%	0.29%	0.29%
PG	A	0.72%	0.87%	0.72%
PLD	D	0.34%	0.38%	0.34%
QCOM	F	1.08%	0.91%	0.91%
REGN	F	0.42%	0.3%	0.3%
RSG	A	0.62%	0.16%	0.16%
SPGI	C	0.26%	0.74%	0.26%
SRE	A	0.68%	0.2%	0.2%
STLD	B	0.32%	0.1%	0.1%
TDG	D	0.46%	0.77%	0.46%
TJX	A	0.29%	0.71%	0.29%
TMO	F	1.12%	0.53%	0.53%
TMUS	B	0.88%	0.88%	0.88%
TT	A	0.31%	0.48%	0.31%
TXN	C	0.7%	0.63%	0.63%
VRTX	F	0.29%	0.51%	0.29%
VST	B	0.74%	0.15%	0.15%
WFC	A	1.77%	0.99%	0.99%
WMB	A	0.46%	0.16%	0.16%
WY	D	0.88%	0.06%	0.06%
XOM	B	2.56%	1.15%	1.15%
ZBH	C	0.85%	0.5%	0.5%

TVAL Overweight 73 Positions Relative to NBCR

Symbol	Grade	Weight
CB	C	2.23%
HIG	B	1.96%
UNH	C	1.9%
WMT	A	1.89%
SO	D	1.67%
KVUE	A	1.49%
PM	B	1.41%
LHX	C	1.36%
AVB	B	1.22%
SWK	D	1.1%
CMI	A	1.09%
BDX	F	1.01%
EQH	B	1.0%
SCHW	B	0.89%
META	D	0.87%
CI	F	0.87%
MRK	F	0.8%
NWSA	B	0.75%
CVX	A	0.73%
KO	D	0.72%
HUBB	B	0.7%
GEV	B	0.7%
TTE	F	0.7%
HON	B	0.68%
MMC	B	0.67%
KMB	D	0.66%
AEE	A	0.65%
DHR	F	0.65%
IP	B	0.64%
WDC	D	0.6%
VZ	C	0.58%
USB	A	0.56%
MS	A	0.56%
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%
PGR	A	0.48%
AZN	D	0.47%
MAR	B	0.47%
CMCSA	B	0.46%
HBAN	A	0.45%
ARES	A	0.45%
MU	D	0.45%
PSA	D	0.44%
UNP	C	0.42%
CPAY	A	0.42%
LAMR	D	0.4%
CAG	D	0.4%
TSM	B	0.39%
YUM	B	0.36%
BKR	B	0.35%
KEYS	A	0.35%
A	D	0.33%
COF	B	0.33%
UAL	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
ROP	B	0.29%
UPS	C	0.28%
MCHP	D	0.27%
AXP	A	0.26%
MGM	D	0.24%
ZTS	D	0.23%
CME	A	0.23%
HAL	C	0.22%
VMC	B	0.22%
DIS	B	0.2%
SNY	F	0.19%
EQIX	A	0.16%

TVAL Underweight 121 Positions Relative to NBCR

Symbol	Grade	Weight
NVDA	C	-6.7%
AAPL	C	-6.48%
AMZN	C	-3.83%
GOOGL	C	-3.37%
AON	A	-1.41%
V	A	-1.23%
MA	C	-1.1%
COST	B	-1.06%
ORCL	B	-0.99%
UNM	A	-0.97%
BSX	B	-0.87%
CRM	B	-0.87%
NFLX	A	-0.81%
NOW	A	-0.77%
T	A	-0.75%
UBER	D	-0.74%
MDT	D	-0.72%
ETN	A	-0.63%
CCL	B	-0.62%
INTU	C	-0.62%
KKR	A	-0.61%
FYBR	D	-0.6%
GM	B	-0.59%
SNPS	B	-0.58%
IWB	A	-0.56%
ICE	C	-0.56%
DKNG	B	-0.52%
CRWD	B	-0.51%
UL	D	-0.51%
BKNG	A	-0.49%
PH	A	-0.48%
CSCO	B	-0.46%
APH	A	-0.45%
MMM	D	-0.44%
GS	A	-0.42%
ULTA	F	-0.4%
NVT	B	-0.39%
IR	B	-0.36%
DE	A	-0.33%
URI	B	-0.32%
AMGN	D	-0.31%
GIS	D	-0.31%
PNC	B	-0.31%
TRU	D	-0.3%
NDAQ	A	-0.3%
BMY	B	-0.28%
MCO	B	-0.28%
FCX	D	-0.26%
LMT	D	-0.26%
GL	B	-0.26%
ORLY	B	-0.26%
SLB	C	-0.26%
DAL	C	-0.25%
DLTR	F	-0.25%
AIZ	A	-0.25%
NKE	D	-0.25%
MLM	B	-0.25%
SHW	A	-0.24%
PSX	C	-0.24%
ASML	F	-0.23%
DUK	C	-0.23%
K	A	-0.22%
EHC	B	-0.22%
FDX	B	-0.22%
SAIA	B	-0.21%
WCN	A	-0.21%
LRCX	F	-0.2%
HUM	C	-0.2%
VTR	C	-0.2%
CHKP	D	-0.2%
J	F	-0.19%
AEP	D	-0.19%
DGX	A	-0.19%
DXCM	D	-0.18%
CNC	D	-0.18%
STZ	D	-0.17%
EA	A	-0.17%
ADSK	A	-0.17%
VRSK	A	-0.17%
CEG	D	-0.17%
PEG	A	-0.16%
ELS	C	-0.16%
ECL	D	-0.16%
OKE	A	-0.16%
ETR	B	-0.16%
TKO	B	-0.15%
FCPT	C	-0.14%
CFG	B	-0.14%
ESI	A	-0.14%
PCG	A	-0.14%
APTV	D	-0.14%
WRBY	B	-0.14%
APD	A	-0.14%
LNT	A	-0.13%
LNG	B	-0.13%
AVTR	F	-0.13%
ENTG	D	-0.13%
IQV	D	-0.13%
IT	C	-0.13%
BLDR	D	-0.12%
MTCH	D	-0.12%
TW	A	-0.12%
BK	A	-0.12%
NUE	C	-0.11%
FE	C	-0.11%
STWD	C	-0.11%
ON	D	-0.1%
INVH	D	-0.1%
EQR	B	-0.09%
CNP	B	-0.09%
TRGP	B	-0.09%
BMRN	D	-0.09%
UTZ	D	-0.08%
DTM	B	-0.08%
CCK	C	-0.08%
WIX	B	-0.08%
TOL	B	-0.07%
SMAR	A	-0.07%
GXO	B	-0.06%
IONS	F	-0.05%
FBIN	D	-0.05%