T. Rowe Price U.S. Equity Research ETF
TSPA
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Gavin MacBeath
- Full Time Employees
- 129
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1307 Point Street Baltimore MD United States of America 21231
- IPO Date
- Jun 14, 2021
- CIK
- 0001795351
- Website
- tscan.com
- Similar Companies
- Business
- T. Rowe Price US Equity Research ETF (TSPA) is an actively managed exchange-traded fund that seeks long-term capital growth by investing primarily in U.S. common stocks selected through fundamental research by T. Rowe Price's industry-focused equity analysts; the fund employs a disciplined portfolio construction process that approximates S&P 500 sector and industry weightings while allowing variation in individual stock selections to generate alpha through overweighting favorable holdings and underweighting or avoiding others; it maintains a non-transparent structure with daily proxy portfolios to facilitate trading liquidity, distinguishing it from traditional transparent ETFs. Launched on June 8, 2021, and listed on NYSE Arca under ticker TSPA with CUSIP 87283Q503, the ETF features a gross expense ratio of 0.34%, approximately 250-300 holdings, and total net assets exceeding $1.7 billion as of recent quarterly reports; it targets investors seeking equity exposure with risk and return characteristics similar to the S&P 500 but with potential outperformance via active stock picking, including major holdings such as Apple, Microsoft, Alphabet, Amazon.com, and Meta Platforms across sectors like information technology, consumer discretionary, and communication services. The ETF operates within T. Rowe Price Group, Inc., an investment management firm founded in 1937 and headquartered in Baltimore, Maryland, which manages over $1.7 trillion in assets across mutual funds, ETFs, retirement solutions, and alternatives for clients worldwide through 17 international offices; TSPA forms part of T. Rowe Price's expanding active ETF franchise, now comprising 22 funds with $12.5 billion in AUM as of Q1 2025, reflecting a 33% year-over-year growth driven by launches and inflows amid industry shifts from mutual funds to ETFs. In the last 1-2 years, T. Rowe Price has pursued strategic expansions including a $1 billion minority stake investment from Goldman Sachs Asset Management in early 2025 to develop co-branded model portfolios blending public and private assets for target-date funds and high-net-worth clients; the firm transitioned to Charles River's enterprise investment management system in December 2025 to enhance operational efficiency; it launched new active core ETFs like TACU and TACN in December 2025, further bolstering its ETF suite alongside TSPA's established role in U.S. large-cap equity research strategies.