T. Rowe Price Natural Resources ETF (TURF) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing at least 80% of its net assets in securities of natural resource companies, with a primary focus on upstream activities such as exploration, extraction, and production of energy, minerals, and agricultural products; the fund typically holds 60-80 securities in a globally diversified portfolio across sectors including energy minerals, non-energy minerals, and process industries. It features an expense ratio of 0.44%, trades on the NASDAQ exchange, and maintains geographic exposure primarily to North America (United States and Canada), Europe, and Asia Pacific regions, targeting institutional and retail investors seeking thematic exposure to natural resources. TURF is issued by T. Rowe Price Exchange-Traded Funds, Inc., a subsidiary of T. Rowe Price Group, Inc., which was founded in 1937 and is headquartered in Baltimore, Maryland. The ETF is co-managed by a team of five investment professionals, including Rick de los Reyes, head of Commodities and portfolio manager for the Global Natural Resources Equity strategy; Shinwoo Kim, Priyal Maniar, John Qian, and Tom Shelmerdine. Launched on June 12, 2025, as part of T. Rowe Price's expansion of its active ETF lineup to 22 offerings alongside the Financials ETF (TFNS) and Health Care ETF (TMED), TURF represents the firm's strategic push into transparent sector-specific active ETFs to deliver outperformance through rigorous global research and proprietary management. No subsequent major changes, partnerships, acquisitions, or reorganizations specific to TURF have been reported since its inception earlier this year.