T. Rowe Price Dynamic Emerging Markets Bond ETF TDEM Strategy

The investment seeks to provide income and capital appreciation. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities of issuers in emerging markets. It invests primarily in debt securities issued by governments, government agencies, supranational organizations, and companies that are either incorporated in one of the economically emerging countries of Latin America, Asia, Europe, Africa, and the Middle East or conduct most of their business in such countries. The investments in debt securities primarily consist of a mix of both sovereign bonds and corporate bonds. It is non-diversified.