TVAL vs. NFRA ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA)

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

$32.91

Average Daily Volume

12,620

Number of Holdings ^*

144

* may have additional holdings in another (foreign) market

NFRA

FlexShares STOXX Global Broad Infrastructure Index Fund

NFRA Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the STOXXÂ® Global Broad Infrastructure Index. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts and Global Depositary Receipts based on the securities in its underlying index. The underlying index reflects the performance of a selection of equity securities of infrastructure-related companies that are domiciled or traded in developed and emerging markets around the world. It is non-diversified.

Grade (RS Rating)

Last Trade

$57.90

Average Daily Volume

78,344

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	NFRA
30 Days	2.08%	-1.09%
60 Days	3.98%	-1.80%
90 Days	5.24%	0.75%
12 Months	28.36%	16.78%

14 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in NFRA	Overlap
CMCSA	B	0.46%	2.6%	0.46%
CSX	C	0.49%	1.08%	0.49%
D	C	0.55%	0.72%	0.55%
EQIX	A	0.16%	1.32%	0.16%
HCA	F	0.45%	1.02%	0.45%
NEE	C	0.59%	2.41%	0.59%
NSC	B	0.74%	0.93%	0.74%
RSG	A	0.62%	0.66%	0.62%
SO	C	1.67%	1.47%	1.47%
SRE	A	0.68%	0.9%	0.68%
TMUS	B	0.88%	1.83%	0.88%
UNP	C	0.42%	2.23%	0.42%
VZ	C	0.58%	2.67%	0.58%
WMB	A	0.46%	1.05%	0.46%

TVAL Overweight 130 Positions Relative to NFRA

Symbol	Grade	Weight
XOM	B	2.56%
CB	C	2.23%
HIG	B	1.96%
UNH	B	1.9%
WMT	A	1.89%
BAC	A	1.89%
JNJ	C	1.82%
ELV	F	1.81%
WFC	A	1.77%
FI	A	1.53%
KVUE	A	1.49%
PM	B	1.41%
LHX	C	1.36%
COP	C	1.25%
JPM	A	1.23%
AVB	B	1.22%
GE	D	1.21%
LLY	F	1.19%
TMO	F	1.12%
SWK	D	1.1%
CMI	A	1.09%
QCOM	F	1.08%
BDX	F	1.01%
EQH	C	1.0%
GOOG	C	0.95%
SCHW	B	0.89%
WY	F	0.88%
META	D	0.87%
AIG	B	0.87%
CI	D	0.87%
ZBH	C	0.85%
CL	D	0.84%
EOG	A	0.82%
C	A	0.81%
MCK	A	0.8%
MRK	D	0.8%
FITB	B	0.77%
NWSA	A	0.75%
VST	A	0.74%
CVX	A	0.73%
LIN	C	0.73%
KO	D	0.72%
PG	C	0.72%
TXN	C	0.7%
HUBB	B	0.7%
ACN	B	0.7%
GEV	B	0.7%
TTE	F	0.7%
HON	C	0.68%
MMC	B	0.67%
KMB	C	0.66%
MSFT	D	0.65%
AEE	A	0.65%
DHR	F	0.65%
IP	A	0.64%
HD	B	0.63%
WDC	D	0.6%
USB	A	0.56%
BA	F	0.56%
MS	A	0.56%
AZO	C	0.52%
RPM	A	0.52%
ROK	C	0.52%
CF	A	0.52%
BAX	F	0.5%
HWM	A	0.48%
REXR	F	0.48%
PGR	A	0.48%
AZN	F	0.47%
MAR	A	0.47%
EQT	B	0.46%
MCD	D	0.46%
APO	B	0.46%
TDG	D	0.46%
HBAN	A	0.45%
ARES	A	0.45%
MU	D	0.45%
PSA	C	0.44%
BLK	B	0.43%
FANG	C	0.43%
MDLZ	F	0.43%
REGN	F	0.42%
CPAY	A	0.42%
LEN	D	0.42%
LVS	B	0.41%
LAMR	C	0.4%
KDP	F	0.4%
CAG	F	0.4%
TSM	B	0.39%
ALL	A	0.39%
AMAT	F	0.38%
ABBV	F	0.36%
YUM	D	0.36%
BKR	A	0.35%
KEYS	A	0.35%
ADI	D	0.35%
PLD	F	0.34%
MSI	B	0.34%
EFX	F	0.33%
A	D	0.33%
COF	C	0.33%
STLD	B	0.32%
UAL	A	0.31%
TT	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
CAT	B	0.3%
VRTX	D	0.29%
ROP	B	0.29%
TJX	A	0.29%
MOH	F	0.28%
UPS	C	0.28%
CARR	C	0.27%
MCHP	F	0.27%
AXP	A	0.26%
SPGI	C	0.26%
CDW	F	0.25%
MGM	D	0.24%
ZTS	D	0.23%
CVS	D	0.23%
CME	B	0.23%
HAL	C	0.22%
VMC	B	0.22%
AMD	F	0.22%
MET	A	0.22%
BHP	F	0.2%
DIS	B	0.2%
AVY	F	0.19%
SNY	F	0.19%
DTE	C	0.17%

TVAL Underweight 50 Positions Relative to NFRA

Symbol	Grade	Weight
CNI	F	-3.39%
WCN	A	-2.53%
T	A	-2.47%
AMT	C	-1.41%
DUK	C	-1.33%
WM	B	-1.26%
CEG	C	-1.09%
OKE	A	-0.98%
DLR	B	-0.86%
PCG	A	-0.85%
KMI	A	-0.82%
AEP	C	-0.77%
CCI	C	-0.69%
PEG	A	-0.67%
TRGP	A	-0.65%
CHTR	C	-0.6%
EXC	C	-0.6%
XEL	A	-0.59%
ED	C	-0.52%
EIX	B	-0.5%
WEC	A	-0.47%
AWK	C	-0.4%
VLTO	C	-0.39%
SBAC	D	-0.36%
THC	D	-0.25%
CLH	C	-0.19%
UHS	D	-0.17%
LBRDK	C	-0.17%
EHC	B	-0.16%
DTM	A	-0.15%
WTRG	B	-0.15%
FYBR	C	-0.13%
CWST	A	-0.1%
AM	A	-0.09%
SIRI	C	-0.09%
SEM	B	-0.07%
GEO	B	-0.06%
ACHC	F	-0.06%
CWT	C	-0.05%
AWR	B	-0.05%
HESM	B	-0.05%
IRDM	D	-0.05%
CCOI	B	-0.05%
CXW	C	-0.04%
PCT	C	-0.03%
SJW	F	-0.03%
UNIT	B	-0.02%
MSEX	C	-0.02%
NFE	D	-0.01%
FSLY	D	-0.01%