TVAL vs. PY ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to Principal Shareholder Yield Index ETF (PY)

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

PY

Principal Shareholder Yield Index ETF

PY Description

The Principal Shareholder Yield Index ETF tracks an index of dividend-paying large- and midcap US stocks that are selected by several fundamental factors, including dividend yield and buyback yield. Holdings are equally weighted within two tiers.

Grade (RS Rating)

Last Trade

$51.93

Average Daily Volume

5,520

Number of Holdings ^*

105

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	PY
30 Days	2.98%	4.03%
60 Days	4.22%	5.45%
90 Days	5.88%	7.68%
12 Months	29.14%	30.80%

34 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in PY	Overlap
ACN	C	0.7%	1.18%	0.7%
AIG	B	0.87%	0.81%	0.81%
AVB	B	1.22%	0.75%	0.75%
AXP	A	0.26%	1.13%	0.26%
BKR	B	0.35%	0.94%	0.35%
CAT	B	0.3%	1.18%	0.3%
CB	C	2.23%	0.91%	0.91%
CF	B	0.52%	0.77%	0.52%
CI	F	0.87%	0.81%	0.81%
CMCSA	B	0.46%	1.09%	0.46%
CSX	B	0.49%	0.86%	0.49%
CVS	D	0.23%	0.78%	0.23%
CVX	A	0.73%	1.35%	0.73%
EQT	B	0.46%	0.94%	0.46%
FANG	D	0.43%	0.75%	0.43%
FITB	A	0.77%	0.85%	0.77%
HAL	C	0.22%	0.76%	0.22%
HD	A	0.63%	1.58%	0.63%
HIG	B	1.96%	0.75%	0.75%
KMB	D	0.66%	0.69%	0.66%
MDLZ	F	0.43%	0.77%	0.43%
MET	A	0.22%	0.85%	0.22%
MMC	B	0.67%	0.88%	0.67%
MS	A	0.56%	1.26%	0.56%
MSFT	F	0.65%	3.5%	0.65%
OTIS	C	0.3%	0.82%	0.3%
PLD	D	0.34%	0.82%	0.34%
QCOM	F	1.08%	1.07%	1.07%
ROK	B	0.52%	0.82%	0.52%
STLD	B	0.32%	0.88%	0.32%
TJX	A	0.29%	0.98%	0.29%
TT	A	0.31%	1.0%	0.31%
WFC	A	1.77%	1.43%	1.43%
XOM	B	2.56%	1.82%	1.82%

TVAL Overweight 110 Positions Relative to PY

Symbol	Grade	Weight
UNH	C	1.9%
WMT	A	1.89%
BAC	A	1.89%
JNJ	D	1.82%
ELV	F	1.81%
SO	D	1.67%
FI	A	1.53%
KVUE	A	1.49%
PM	B	1.41%
LHX	C	1.36%
COP	C	1.25%
JPM	A	1.23%
GE	D	1.21%
LLY	F	1.19%
TMO	F	1.12%
SWK	D	1.1%
CMI	A	1.09%
BDX	F	1.01%
EQH	B	1.0%
GOOG	C	0.95%
SCHW	B	0.89%
TMUS	B	0.88%
WY	D	0.88%
META	D	0.87%
ZBH	C	0.85%
CL	D	0.84%
EOG	A	0.82%
C	A	0.81%
MCK	B	0.8%
MRK	F	0.8%
NWSA	B	0.75%
VST	B	0.74%
NSC	B	0.74%
LIN	D	0.73%
KO	D	0.72%
PG	A	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%
RSG	A	0.62%
WDC	D	0.6%
NEE	D	0.59%
VZ	C	0.58%
USB	A	0.56%
BA	F	0.56%
D	C	0.55%
AZO	C	0.52%
RPM	A	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%
WMB	A	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%
HCA	F	0.45%
PSA	D	0.44%
BLK	C	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%
CAG	D	0.4%
TSM	B	0.39%
ALL	A	0.39%
AMAT	F	0.38%
ABBV	D	0.36%
YUM	B	0.36%
KEYS	A	0.35%
ADI	D	0.35%
MSI	B	0.34%
EFX	F	0.33%
A	D	0.33%
COF	B	0.33%
UAL	A	0.31%
AME	A	0.31%
VRTX	F	0.29%
ROP	B	0.29%
MOH	F	0.28%
UPS	C	0.28%
CARR	D	0.27%
MCHP	D	0.27%
SPGI	C	0.26%
CDW	F	0.25%
MGM	D	0.24%
ZTS	D	0.23%
CME	A	0.23%
VMC	B	0.22%
AMD	F	0.22%
BHP	F	0.2%
DIS	B	0.2%
AVY	D	0.19%
SNY	F	0.19%
DTE	C	0.17%
EQIX	A	0.16%

TVAL Underweight 71 Positions Relative to PY

Symbol	Grade	Weight
AAPL	C	-3.82%
NVDA	C	-3.38%
AVGO	D	-2.35%
LOW	D	-1.06%
BMY	B	-1.05%
ADP	B	-1.01%
DFS	B	-1.0%
RTX	C	-1.0%
AMP	A	-0.99%
TRGP	B	-0.97%
SYF	B	-0.97%
PNC	B	-0.96%
SNA	A	-0.93%
DE	A	-0.91%
BK	A	-0.91%
ITW	B	-0.9%
MO	A	-0.89%
HPE	B	-0.88%
LMT	D	-0.88%
PNR	A	-0.87%
TRV	B	-0.86%
SLB	C	-0.85%
RF	A	-0.85%
SPG	B	-0.85%
PAYX	C	-0.85%
PRU	A	-0.84%
RL	B	-0.84%
KR	B	-0.84%
FOXA	B	-0.83%
FDX	B	-0.83%
NKE	D	-0.82%
VLO	C	-0.8%
NDAQ	A	-0.8%
CTSH	B	-0.8%
HPQ	B	-0.79%
CINF	A	-0.79%
BR	A	-0.79%
PSX	C	-0.79%
WTW	B	-0.79%
AIZ	A	-0.78%
DD	D	-0.78%
TAP	C	-0.78%
EBAY	D	-0.77%
BEN	C	-0.77%
MRO	B	-0.76%
DRI	B	-0.76%
BBWI	D	-0.75%
MPC	D	-0.75%
NDSN	B	-0.74%
PPG	F	-0.73%
ALLE	D	-0.73%
SYY	B	-0.72%
EMN	D	-0.72%
ESS	B	-0.72%
OXY	D	-0.72%
VICI	C	-0.7%
MAA	B	-0.7%
CPT	B	-0.69%
EG	C	-0.68%
INVH	D	-0.67%
GPC	D	-0.66%
HSY	F	-0.66%
AOS	F	-0.66%
ARE	D	-0.66%
SBAC	D	-0.66%
HRL	D	-0.65%
MKC	D	-0.65%
ADM	D	-0.65%
GIS	D	-0.65%
LYB	F	-0.64%
SWKS	F	-0.6%