T. Rowe Price Floating Rate ETF
TFLR
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- United States of America
- IPO Date
- Nov 18, 2022
- Similar Companies
- Business
- T. Rowe Price Floating Rate ETF (TFLR) is an actively managed exchange-traded fund that seeks high current income and, secondarily, capital appreciation by investing primarily in a diversified portfolio of USD-denominated floating-rate loans and other floating-rate debt securities, with a focus on below-investment-grade rated instruments such as BB- and B-rated senior loans; the portfolio typically comprises 200-300 issuers across various sectors, including top holdings like AAdvantage Loyalty IP Ltd. 2021 Term Loan, Filtration Group Corporation 2021 Incremental Term Loan, and Sedgwick Claims Management Services Inc. notes, alongside corporate bonds representing approximately 84% bank loans and 8% corporate debt. Launched on November 16, 2022, and managed by Paul Massaro, head of T. Rowe Price's global high yield team, the ETF features a net expense ratio of 0.61% and total net assets exceeding $400 million, with daily pricing and no front-end or deferred loads. T. Rowe Price Floating Rate ETF trades on NYSE Arca and targets institutional and retail investors seeking exposure to high-yield floating-rate instruments that adjust with short-term interest rates to mitigate duration risk. The ETF operates under T. Rowe Price Group, Inc., a global investment management firm founded in 1937 and headquartered at 100 East Pratt Street in Baltimore, Maryland, with approximately 7,868 employees across 17 international offices serving clients in 55 countries. Geographically, TFLR focuses on U.S. dollar-denominated securities from domestic and international issuers, available for sale primarily in the United States. In recent developments, T. Rowe Price Group has expanded its active ETF lineup, including the launch of two new Active Core ETFs on December 11, 2025, blending active management with passive-like efficiency through targeted security selection; additionally, on December 15, 2025, T. Rowe Price announced a strategic alliance with Goldman Sachs Asset Management to introduce co-branded model portfolios for retail and high-net-worth advisors, incorporating private markets, direct indexing, and fixed income strategies like floating-rate exposure, with a fifth portfolio slated for the first half of 2026. The firm also plans an active ETF launch in Europe in 2026, signaling broader global expansion of its ETF offerings. These initiatives reflect T. Rowe Price's ongoing commitment to active fixed income strategies amid growing demand for floating-rate products in a variable rate environment.