TACU

T.Rowe Price Active Core U.S. Equity ETF seeks to provide long-term capital growth. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S. equity securities, such as common stock. For purposes of this policy, the fund relies on MSCI Inc., or another unaffiliated data provider to determine the country assigned to a security. Any derivatives that provide exposure to the investment focus suggested by the fund's name, or to one or more market risk factors associated with the investment focus suggested by the fund's name, are counted (as applicable) toward compliance with the fund's 80% investment policy. The fund is non-diversified.