T. Rowe Price Small-Mid Cap ETF (TMSL)
| Assets | $2.94B |
| Expense Ratio | 0.55% |
| PE Ratio | 20.64 |
| Shares Out | 66.30M |
| Dividend (ttm) | $0.20 |
| Dividend Yield | 0.46% |
| Ex-Dividend Date | Dec 23, 2025 |
| Payout Frequency | Annual |
| Payout Ratio | 9.44% |
| Volume | 429,898 |
| Open | 44.39 |
| Previous Close | 44.41 |
| Day's Range | 44.09 - 44.41 |
| 52-Week Low | 32.79 |
| 52-Week High | 44.49 |
| Beta | 1.10 |
| Holdings | 289 |
| Inception Date | Jun 14, 2023 |
About TMSL
Fund Home PageThe T. Rowe Price Small-Mid Cap ETF (TMSL) is an exchange-traded fund. The ETF currently has 2742.64m in AUM and 287 holdings. TMSL is an actively managed fund that invests in US small- and mid-cap companies with either growth or value characteristics TMSL was launched on Jun 14, 2023 and is issued by T. Rowe Price.
Top 10 Holdings
9.61% of assets| Name | Symbol | Weight |
|---|---|---|
| Popular, Inc. | BPOP | 1.29% |
| Tenet Healthcare Corporation | THC | 1.13% |
| AXIS Capital Holdings Limited | AXS | 0.98% |
| Permian Resources Corporation | PR | 0.94% |
| East West Bancorp, Inc. | EWBC | 0.91% |
| TechnipFMC plc | FTI | 0.90% |
| Corpay, Inc. | CPAY | 0.88% |
| Reliance, Inc. | RS | 0.87% |
| Guardant Health, Inc. | GH | 0.86% |
| The Middleby Corporation | MIDD | 0.85% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 23, 2025 | $0.2032 | Dec 26, 2025 |
| Dec 23, 2024 | $0.1415 | Dec 26, 2024 |
| Dec 20, 2023 | $0.0947 | Dec 26, 2023 |
Performance
TMSL had a total return of 34.81% in the past year, including dividends. Since the fund's inception, the average annual return has been 20.17%.
News
T. Rowe Price's Love Says Small-Cap Earnings Are Turning
Small-cap and mid-cap stocks are outrunning large caps in 2026, and one portfolio manager says the shift has room to run. Key Takeaways: Earnings estimates for small caps are rising after 10 quarters ...
Small-Caps Offer Rare Value as Sector Gaps Narrow
Small-cap stocks remain the cheapest corner of the U.S. market. That's true even after posting their best first-half performance in more than three decades, according to Morningstar's Q3 2026 stock ma...
T. Rowe Price's Love Discusses ETFs Hitting 3-Year Mark
The ETF three-year milestone is more than just an opportunity for firms to tout their funds or celebrate years of work. That marker has material consequences for current and future investors in a fund...
Beyond the Mega Caps: Advisors Eye Small- and Mid-Cap Strategies
Beyond the Mega Caps: Advisors Eye Small- and Mid-Cap Strategies The strong run by the Nasdaq-100 and the S&P 500 the last few years has loaded portfolios with heavy concentration risk. As a tiny grou...
Add Diversification As SMID-Cap ETF TMSL Celebrates Milestone
Concentration risk has emerged as a dominant threat to portfolios this year. Even as geopolitical tensions show signs of cooling under a potential U.S.-Iran deal, market crowding remains a top concern...
T. Rowe Price Makes the Midyear Case for Small-Caps
Small-cap stocks are drawing renewed attention from T. Rowe Price as the firm's 2026 midyear outlook signals a broad shift in market leadership away from the largest technology companies.
Market Volatility Just Put Small-Cap Stocks on Sale
Small-cap stocks are the most attractively valued capitalization segment of the U.S. equity market right now, trading at a 17% discount to fair value, according to Morningstar's Q2 2026 US Stock Marke...
Trump 2.0 may create powerful tailwinds for two vastly different groups: big banks and small caps
Two exchange-traded fund experts deliver plays that should deliver multi-year gains.