Core Insights - T. Rowe Price has launched two new active transparent equity ETFs: Capital Appreciation Premium Income ETF (TCAL) and Hedged Equity ETF (THEQ), expanding its total active ETF offerings to 19 [1][4]. Group 1: ETF Details - The T. Rowe Price Hedged Equity ETF (THEQ) aims for long-term capital growth, investing at least 80% of its net assets in equities, and employs a derivatives hedging strategy to reduce portfolio volatility [2]. - The T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) focuses on a low volatility portfolio of high-quality stocks and covered calls, with an expense ratio of 0.34% [3]. - THEQ has an expense ratio of 0.46% and is managed by Sean McWilliams, who has 15 years of investment experience [2]. Group 2: Management and Strategy - TCAL is co-managed by six investment professionals, including David Giroux, who has a record of outperforming his peer group for 17 consecutive years [4][9]. - The new ETFs leverage T. Rowe Price's established investment strategies, combining fundamental and quantitative approaches to optimize performance [3][5]. Group 3: Company Overview - T. Rowe Price, founded in 1937, manages USD $1.63 trillion in assets as of February 28, 2025, and is recognized for its investment excellence and retirement leadership [6]. - The firm aims to provide innovative investment solutions that align with long-term investor goals, reflecting its commitment to active management [5].