The world of ETFs has seen major growth in recent years, with more than five years since the ETF rule supercharged ETF launches and availability. Myriad firms have joined the ETF space and looked to make their mark managing assets in the wrapper. T. Rowe Price has done so by leaning into actively managed ETFs, with the firm recently crossing a major milestone of $20 billion in ETF AUM.
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The company has seen 12 of its ETFs pass a half billion in AUM, and five surpass $1 billion. In the last quarter, as discussed on its earnings call, T. Rowe Price’s ETFs pulled in almost $2 billion in net inflows, suggesting some amount of flows acceleration.
T. Rowe Price's ETF Milestones
The firm’s active ETF approach may be contributing to that acceleration, focusing on delivering alpha-generating ETFs among a sea of passive strategies. The firm has a highly respected brand and is well-regarded for delivering on their active management value proposition. That may have helped T. Rowe Price double its market share in active ETFs in the last two years, with more to come. The active ETF shop has filed for eight new funds, split evenly between equity and fixed income.
“T Rowe Price’s ETF business has rapidly grown in size in 2025, as advisors have turned to active management to help navigate potential market volatility,” said VettaFi Head of Research Todd Rosenbluth. “The firm’s pedigree and increased focus on bringing their best and brightest into the ETF market has helped accelerate their efforts.”
The firm’s TCAF ETF has been a key player in its rising AUM. The T. Rowe Price Capital Appreciation Equity ETF (TCAF ) has seen its AUM rise above $6 billion. The fund has added more than $2.5 billion over the last year, per ETF Database data. The fund, managed by David Giroux and his team, charges 31 basis points for its approach.
Looking ahead, active ETFs may continue to see accelerating launches and flows with strong performance. T. Rowe Price’s suite looks poised to compete in that space from a strong position in near and medium terms, with its funds worth considering for curious investors.
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