T. Rowe Price Dividend Growth ETF
TDVG
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- T. Rowe Price Dividend Growth ETF (TDVG) is an actively managed exchange-traded fund that seeks dividend income and long-term capital growth primarily through investments in common stocks of dividend-paying companies with sustainable above-average earnings and dividend growth. The fund employs a conservative growth-at-a-discount approach, targeting large- and mid-cap companies, predominantly in the U.S. (approximately 93.5% allocation), with smaller exposures to non-U.S. stocks (around 4.5%) and cash; it focuses on quality firms with histories of dividend increases to reduce volatility and capitalize on compounding earnings growth. Key holdings are diversified across sectors using the GICS classification, managed by an investment advisory committee led by Thomas Huber since inception, with a net expense ratio of 0.50%. Launched on August 4, 2020, and domiciled in the United States, TDVG trades on the NYSE Arca exchange and is issued by T. Rowe Price Exchange-Traded Funds, Inc., a subsidiary affiliated with T. Rowe Price Group, Inc., headquartered in Baltimore, Maryland. The ETF targets investors seeking increasing income alongside capital appreciation, with tolerance for equity market volatility, and benchmarks performance loosely against broad indices like the Russell 3000 or S&P 500, though it follows no strict underlying index due to its active strategy. Recent developments include significant assets under management (AUM) growth, surpassing $1 billion in 2025 from under $900 million the prior month, driven by net inflows of approximately $317 million over the past year, reflecting strong investor interest in its dividend growth focus. In late 2025, T. Rowe Price announced David Rowlett as an associate portfolio manager effective January 1, 2026, to support idea generation and analysis alongside lead manager Tom Huber, who has overseen the strategy for over 25 years; this addition does not alter the fund's core process or ratings. The fund continues quarterly dividend distributions, with a trailing 12-month yield around 1.04% and payout ratio of 25.80% as of mid-2025.