TAXE – T. Rowe Price Intermediate Muncpl IncETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks the highest level of income exempt from federal income taxes consistent with moderate price fluctuation. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in investment-grade municipal securities or derivatives that are linked to or provides investment exposure to the municipal market. Under normal conditions, the fund’s weighted average effective maturity will be four to twelve years. There are no maturity limitations on individual securities.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
TAXE	T. Rowe Price Intermediate Municipal Income ETF	ETF	Open	—		Jul 9, 2024	$291.73M	0.240%	—	—	$162.95M

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