ETF Evaluator:
T. Rowe Price Growth Stock ETF (TGRW)
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(as of Jul 31)
Best Performing in Large Growth Over the Last Year
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ETF Details
T. Rowe Price Growth Stock ETF Overview
T. Rowe Price Growth Stock ETF (TGRW) is an actively managed U.S. Equity Large Growth exchange-traded fund (ETF). T. Rowe Price launched the ETF in 2020.
The investment seeks to provide long-term capital growth.
The fund normally invests at least 80% of its net assets in stocks of companies with growth characteristics. While it may invest in companies of any market capitalization, the fund generally seeks investments in stocks of large-capitalization companies with one or more of the following characteristics: strong cash flow and an above-average rate of earnings growth; the ability to sustain earnings momentum during economic downturns; and occupation of a lucrative niche in the economy and the ability to expand even during times of slow economic growth. The fund is non-diversified.
About T. Rowe Price Growth Stock ETF (TGRW)
There are 2 members of the management team with an average tenure of 0.87 years: James Stillwagon (2025) and Eric DeVilbiss (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. T. Rowe Price Growth Stock ETF has 58 securities in its portfolio. The top 10 holdings constitute 68.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price Growth Stock ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. T. Rowe Price Growth Stock ETF has 3.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.1% There is 3.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price Growth Stock ETF has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TGRW Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price Growth Stock ETF expense ratio is average compared to funds in the Large Growth category. T. Rowe Price Growth Stock ETF has an expense ratio of 0.52%, which is 5% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price Growth Stock ETF has a portfolio turnover rate of 47%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of June 2026, T. Rowe Price Growth Stock ETF returned -3.2%, which earned it a grade of D, as the Large Growth category had an average return of -0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
T. Rowe Price Growth Stock ETF has a trailing yield of 0.00%, which is below the 0.47% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
T. Rowe Price Growth Stock ETF Grades
Year to date, the ETF has returned 3.7%, 7.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 13.4% over the past year (grade of D), 20.0% over the past three years (grade of D) and 8.0% per year over the past five years (grade of F).
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TGRW Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TGRW Return (NAV) | -3.2% | 17.5% | 13.4% | 20.0% | 8.0% | na |
| TGRW Return (Price) | -3.1% | 17.8% | 13.5% | 20.0% | 8.1% | na |
| NAV +/- Price Return | -0.113% | -0.291% | -0.138% | -0.003% | -0.019% | na |
| Large Growth Avg | -0.6% | 20.4% | 20.8% | 22.9% | 11.4% | 16.7% |
| TGRW Grade (NAV) | D | C | D | D | F | na |
| +/- Category (NAV) | -2.6% | -2.8% | -7.4% | -2.9% | -3.3% | na |
| TGRW Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | na |
TGRW Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TGRW Return (NAV) | 3.7% | 15.4% | 30.1% | 48.9% | -38.4% | 14.9% | na | na | na | na | na |
| TGRW Return (Price) | 3.7% | 15.6% | 29.9% | 48.9% | -38.4% | 15.0% | na | na | na | na | na |
| NAV +/- Price Ret | 0.015% | 0.015% | -0.005% | 0.000% | 0.001% | 0.002% | na | na | na | na | na |
| Large Growth Avg | 10.9% | 16.8% | 30.4% | 38.6% | -30.8% | 21.3% | 37.6% | 33.1% | -2.0% | 28.2% | 5.0% |
| TGRW Grade (NAV) | D | C | C | B | F | D | na | na | na | na | na |
| +/- Category | -7.3% | -1.4% | -0.3% | 10.3% | -7.6% | -6.4% | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.22 |
| R-Squared: | 88% |
| Standard Deviation: | 17.0% |
| Category Risk Index: | 0.94 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.40 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 1,026 Mil |
| Share Class Assets: | $ 1,026 Mil |
| Turnover: | 47.5% |
| Expense Ratio: | 0.52% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Stillwagon James (2025), DeVilbiss Eric (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 58 |
| % in Top 10 Holdings: | 68.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.4% |
Portfolio Allocation |
|
| Domestic Stock: | 96.1% |
| Foreign Stock: | 3.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | |
| Inception Date: | August 4, 2020 |
Expenses and Fees
| Expense Ratio (%): | 0.52% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.50% |
