T ROWE PRICE EXCHANGE TRD FDS INC US EQUITY RESEARCH ETF

Invests in stocks within each industry based on weightings similar to the S&P 500. A team of industry-focused T. Rowe Price equity analysts is directly responsible for selecting stocks for the Fund. For more information regarding the risks of the Fund, see the risk section below. The fund seeks to add value via stock selection within each industry. It maintains style and sector exposures close to those of the S&P 500.