TAGG Fees and Costs — T. Rowe Price QM U.S. Bond ETF
Data updated: 2026-09-25
The net expense ratio is 0.08%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0004% of average net assets, and portfolio turnover was 191%.
TAGG Fees and Expenses
Annual operating expenses and sales charges of TAGG. Prospectus, as of December 22, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.08% |
| Fee waiver | — |
| Net expense ratio | 0.08% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TAGG Costs Over Time
On $10,000 invested in TAGG, assuming 5% a year before costs, total costs come to $51 over 5 years, cutting the return by 0.08% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.08%) | $8 | $26 | $46 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $8 | $28 | $51 |
| Value after costs | $10,492 | $11,548 | $12,712 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
TAGG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0004%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $3.3B
- Portfolio turnover (prospectus): 191%
- Securities on loan, average value: $4.0M
- Net income from securities lending: $14K (0.002% of average net assets)
TAGG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $815 | 26.41% |
| Citigroup Inc. | $664 | 21.52% |
| GOLDMAN SACHS & CO. LLC | $585 | 18.96% |
| J.P. MORGAN SECURITIES LLC | $570 | 18.47% |
| MORGAN STANLEY & CO. LLC | $452 | 14.65% |
TAGG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $505.7M | 18.78% |
| MORGAN STANLEY & CO. LLC | $379.5M | 14.09% |
| WELLS FARGO SECURITIES, LLC | $370.2M | 13.74% |
| Citigroup Inc. | $312.7M | 11.61% |
| BOFA SECURITIES, INC. | $284.4M | 10.56% |
| J.P. MORGAN SECURITIES LLC | $254.9M | 9.46% |
| BNP PARIBAS | $228.9M | 8.50% |
| BARCLAYS CAPITAL INC. | $187.2M | 6.95% |
| MIZUHO SECURITIES USA LLC | $89.5M | 3.32% |
| Virtu ITG Hong Kong Limited | $80.5M | 2.99% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.