T. Rowe Price Innovation Leaders ETF (TNXT) Price & Chart

T. Rowe Price Innovation Leaders ETF

T. Rowe Price Innovation Leaders ETF (TNXT) is an actively managed, broad-based total-market ETF that seeks long-term capital appreciation by concentrating on companies judged to be leaders of innovation, primarily in developed markets. Positioned in the Size & Style category with a Total Market focus in a Broad-based niche, TNXT looks beyond market-cap silos to identify firms—across large-, mid-, and small-cap segments—that are driving structural change through technology, product development, business-model disruption, or industry-leading research and development. The fund’s investment process combines top-down thematic analysis with bottom-up fundamental research. Portfolio managers use macro and thematic screening to identify durable innovation trends and to set sector and regional tilts, then apply rigorous company-level analysis to select stocks with sustainable competitive advantages, strong growth prospects, and capable management teams. While technology and healthcare often feature prominently, the fund may also find innovation opportunities in industrials, consumer, financials and other sectors where new entrants or incumbents are reshaping markets. TNXT is designed for investors seeking a growth-oriented exposure that targets companies shaping the future economy and can serve as a complement to a core equity allocation. Because it is actively managed and concentrated on innovation leaders, the ETF typically exhibits a growth-style risk/return profile and may experience higher dispersion and volatility than broad-market passive funds.