ETF Evaluator:
T. Rowe Price Value ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
Risk
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Risk
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ETF Details
T. Rowe Price Value ETF Overview
T. Rowe Price Value ETF (TVAL) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). T. Rowe Price launched the ETF in 2023.
The investment seeks to provide long-term capital growth.
The fund will invest primarily in U.S. equity securities. In taking a value approach to investment selection, the adviser seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. Some of the principal measures used to identify such stocks are: price/earnings ratio, price/book value ratio, price/sales ratio, dividend yield, price/cash flow, undervalued assets, and restructuring opportunities. The fund may purchase the stocks of companies of any size, but typically focuses on larger companies.
About T. Rowe Price Value ETF (TVAL)
There are 3 members of the management team with an average tenure of 3.13 years: Gabriel Solomon (2023), Jodi Love (2023) and Donald Peters (2023). 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 Russell 1000 Value TR USD index with a weighting of 100%. T. Rowe Price Value ETF has 157 securities in its portfolio. The top 10 holdings constitute 27.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. T. Rowe Price Value ETF has 4.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.7% There is 4.1% 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 Value ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $996 million in total assets, which is below the $5 billion average for the Large Value 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.
TVAL 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 Value ETF expense ratio is below average compared to funds in the Large Value category. T. Rowe Price Value ETF has an expense ratio of 0.33%, which is 12% lower 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 Value ETF has a portfolio turnover rate of 37%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, T. Rowe Price Value ETF returned 2.2%, which earned it a grade of C, as the Large Value category had an average return of 2.4%. 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 Value ETF has a trailing yield of 0.95%, which is below the 1.70% category average.
The fund normally distributes its income annually and its capital gains 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 Value ETF Grades
Year to date, the ETF has returned 20.9%, 6.5 percentage points better than the category, which translates into a grade of A. The fund has returned 31.5% over the past year (grade of A) and 18.4% over the past three years (grade of B).
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TVAL Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TVAL Return (NAV) | 2.2% | 8.1% | 31.5% | 18.4% | na | na |
| TVAL Return (Price) | 2.2% | 8.0% | 31.6% | 18.4% | na | na |
| NAV +/- Price Return | -0.023% | 0.095% | -0.149% | -0.046% | na | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| TVAL Grade (NAV) | C | A | A | B | na | na |
| +/- Category (NAV) | -0.2% | 2.2% | 7.4% | 2.1% | na | na |
| TVAL Tax-Cost Ratio | na | na | 0.5% | 0.4% | na | na |
TVAL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TVAL Return (NAV) | 20.9% | 15.7% | 14.4% | na | na | na | na | na | na | na | na |
| TVAL Return (Price) | 21.0% | 15.6% | 14.5% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.003% | -0.007% | 0.008% | na | na | na | na | na | na | na | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| TVAL Grade (NAV) | A | C | D | na | na | na | na | na | na | na | na |
| +/- Category | 6.5% | 0.9% | -1.1% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.78 |
| R-Squared: | 67% |
| Standard Deviation: | 12.4% |
| Category Risk Index: | 1.02 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.01 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 997 Mil |
| Share Class Assets: | $ 997 Mil |
| Turnover: | 37.1% |
| Expense Ratio: | 0.33% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.1 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Solomon Gabriel (2023), Love Jodi (2023), Peters Donald (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 157 |
| % in Top 10 Holdings: | 27.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.1% |
Portfolio Allocation |
|
| Domestic Stock: | 95.7% |
| Foreign Stock: | 4.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | |
| Inception Date: | June 14, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.33% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.37% |
