TVAL vs. SDY ETF Comparison

Comparison of T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Value ETF (TVAL) to SPDR S&P Dividend ETF (SDY)

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

SDY

SPDR S&P Dividend ETF

SDY Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index. In seeking to track the performance of the S&P High Yield Dividend Aristocrats Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the performance of the highest dividend yielding S&P Composite 1500Â® Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 20 consecutive years. It is non-diversified.

Grade (RS Rating)

Last Trade

$142.31

Average Daily Volume

183,834

Number of Holdings ^*

132

* may have additional holdings in another (foreign) market

Performance

Period	TVAL	SDY
30 Days	2.98%	0.70%
60 Days	4.22%	0.90%
90 Days	5.88%	3.52%
12 Months	29.14%	23.08%

27 Overlapping Holdings

Symbol	Grade	Weight in TVAL	Weight in SDY	Overlap
ABBV	D	0.36%	1.36%	0.36%
ADI	D	0.35%	0.72%	0.35%
BDX	F	1.01%	0.73%	0.73%
CAT	B	0.3%	0.71%	0.3%
CB	C	2.23%	0.61%	0.61%
CL	D	0.84%	0.9%	0.84%
CVX	A	0.73%	2.34%	0.73%
JNJ	D	1.82%	1.43%	1.43%
KMB	D	0.66%	1.68%	0.66%
KO	D	0.72%	1.23%	0.72%
KVUE	A	1.49%	1.81%	1.49%
LHX	C	1.36%	0.96%	0.96%
LIN	D	0.73%	0.54%	0.54%
MCD	D	0.46%	1.11%	0.46%
MCHP	D	0.27%	0.96%	0.27%
NEE	D	0.59%	1.11%	0.59%
PG	A	0.72%	1.16%	0.72%
QCOM	F	1.08%	0.97%	0.97%
ROP	B	0.29%	0.27%	0.27%
RPM	A	0.52%	0.79%	0.52%
RSG	A	0.62%	0.59%	0.59%
SO	D	1.67%	1.48%	1.48%
SPGI	C	0.26%	0.36%	0.26%
SWK	D	1.1%	0.81%	0.81%
TXN	C	0.7%	1.31%	0.7%
WMT	A	1.89%	0.51%	0.51%
XOM	B	2.56%	1.61%	1.61%

TVAL Overweight 117 Positions Relative to SDY

Symbol	Grade	Weight
HIG	B	1.96%
UNH	C	1.9%
BAC	A	1.89%
ELV	F	1.81%
WFC	A	1.77%
FI	A	1.53%
PM	B	1.41%
COP	C	1.25%
JPM	A	1.23%
AVB	B	1.22%
GE	D	1.21%
LLY	F	1.19%
TMO	F	1.12%
CMI	A	1.09%
EQH	B	1.0%
GOOG	C	0.95%
SCHW	B	0.89%
TMUS	B	0.88%
WY	D	0.88%
META	D	0.87%
AIG	B	0.87%
CI	F	0.87%
ZBH	C	0.85%
EOG	A	0.82%
C	A	0.81%
MCK	B	0.8%
MRK	F	0.8%
FITB	A	0.77%
NWSA	B	0.75%
VST	B	0.74%
NSC	B	0.74%
HUBB	B	0.7%
ACN	C	0.7%
GEV	B	0.7%
TTE	F	0.7%
HON	B	0.68%
SRE	A	0.68%
MMC	B	0.67%
MSFT	F	0.65%
AEE	A	0.65%
DHR	F	0.65%
IP	B	0.64%
HD	A	0.63%
WDC	D	0.6%
VZ	C	0.58%
USB	A	0.56%
BA	F	0.56%
MS	A	0.56%
D	C	0.55%
AZO	C	0.52%
ROK	B	0.52%
CF	B	0.52%
BAX	D	0.5%
CSX	B	0.49%
HWM	A	0.48%
REXR	F	0.48%
PGR	A	0.48%
AZN	D	0.47%
MAR	B	0.47%
WMB	A	0.46%
CMCSA	B	0.46%
EQT	B	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%
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%
CAG	D	0.4%
TSM	B	0.39%
ALL	A	0.39%
AMAT	F	0.38%
YUM	B	0.36%
BKR	B	0.35%
KEYS	A	0.35%
PLD	D	0.34%
MSI	B	0.34%
EFX	F	0.33%
A	D	0.33%
COF	B	0.33%
STLD	B	0.32%
UAL	A	0.31%
TT	A	0.31%
AME	A	0.31%
OTIS	C	0.3%
VRTX	F	0.29%
TJX	A	0.29%
MOH	F	0.28%
UPS	C	0.28%
CARR	D	0.27%
AXP	A	0.26%
CDW	F	0.25%
MGM	D	0.24%
ZTS	D	0.23%
CVS	D	0.23%
CME	A	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	D	0.19%
SNY	F	0.19%
DTE	C	0.17%
EQIX	A	0.16%

TVAL Underweight 105 Positions Relative to SDY

Symbol	Grade	Weight
O	D	-2.21%
XEL	A	-1.78%
EIX	B	-1.74%
WEC	A	-1.72%
ADM	D	-1.51%
MDT	D	-1.48%
TGT	F	-1.48%
TROW	B	-1.46%
PEP	F	-1.45%
ED	D	-1.42%
IBM	C	-1.42%
SYY	B	-1.32%
CINF	A	-1.29%
ES	D	-1.28%
CLX	B	-1.22%
GPC	D	-1.21%
ITW	B	-1.2%
APD	A	-1.2%
ATO	A	-1.18%
FAST	B	-1.17%
EMR	A	-1.13%
BBY	D	-1.09%
ESS	B	-1.08%
ADP	B	-1.03%
LMT	D	-1.0%
PPG	F	-0.98%
CAH	B	-0.97%
MKC	D	-0.96%
ABT	B	-0.96%
LNT	A	-0.88%
GD	F	-0.88%
AFL	B	-0.88%
AMCR	D	-0.85%
EVRG	A	-0.84%
LOW	D	-0.84%
NKE	D	-0.78%
CHRW	C	-0.76%
WM	A	-0.75%
NUE	C	-0.74%
NOC	D	-0.72%
SJM	D	-0.69%
ALB	C	-0.69%
LECO	B	-0.66%
GGG	B	-0.63%
NDSN	B	-0.6%
CHD	B	-0.58%
DOV	A	-0.58%
AOS	F	-0.57%
JKHY	D	-0.57%
ATR	B	-0.56%
EXPD	D	-0.55%
WTRG	B	-0.54%
ORI	A	-0.52%
DCI	B	-0.52%
RGLD	C	-0.51%
TTC	D	-0.51%
PNR	A	-0.5%
HRL	D	-0.49%
FDS	B	-0.48%
FRT	B	-0.48%
CBSH	A	-0.46%
NNN	D	-0.45%
PB	A	-0.44%
CFR	B	-0.44%
SEIC	B	-0.42%
ERIE	D	-0.42%
CSL	C	-0.42%
GWW	B	-0.42%
ECL	D	-0.42%
MSA	D	-0.4%
RLI	B	-0.4%
CTAS	B	-0.39%
BEN	C	-0.38%
SHW	A	-0.38%
BMI	B	-0.33%
UBSI	B	-0.32%
NFG	A	-0.31%
UGI	A	-0.3%
UMBF	B	-0.3%
WRB	A	-0.29%
SON	D	-0.29%
CASY	A	-0.28%
NJR	A	-0.28%
OZK	B	-0.28%
RNR	C	-0.27%
BRO	B	-0.26%
OGS	A	-0.25%
BKH	A	-0.25%
FLO	D	-0.25%
FELE	B	-0.24%
FUL	F	-0.24%
SR	A	-0.23%
PII	D	-0.23%
PRGO	B	-0.22%
LANC	C	-0.2%
CBU	B	-0.2%
ABM	B	-0.19%
CWT	D	-0.18%
AWR	B	-0.18%
BRC	D	-0.18%
CPK	A	-0.17%
AVA	A	-0.17%
WST	C	-0.12%
SJW	D	-0.1%
SCL	C	-0.1%