T. RoweInverse BondTMNS

T. Rowe Price Short Municipal Income ETF (TMNS)

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Price: $48.64; —25 Sept 2026
Assets: —; Total net assets
Expense ratio: —; Category 0.54%
Yield: —; Trailing distributions

1Y return: —; Category 20.3%
3Y CAGR: —; Category 4.2%
5Y CAGR: —; Category 16.6%

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T. Rowe Price Short Municipal Income ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-2.0%	-2.0%	-0.9%	-0.5%	—	—	—	—	0.0%
Inverse Bond average	7.6%	14.7%	11.1%	15.1%	20.3%	4.2%	16.6%	2.4%	-2.8%
Difference	-9.6%	-16.7%	-12.0%	-15.6%	—	—	—	—	+2.8%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA9.2%
AA47.6%
A28.1%
BBB5.6%
BB3.0%
Other6.5%

Asset mix

Bonds100.3%

ETF details

Issuer: T. Rowe
Category: Fixed Income · Inverse Bond
Ticker: TMNS
Inception: 21 Nov 2025 (0.8 years)
Structure: Exchange Traded Fund
Expense ratio: —
Holdings turnover: 84% (category 59%)
Distribution yield: —
Total net assets: —
Average duration: 4.58 years
Average maturity: 10.21 years

Prices and returns as of 25 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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