TEQI Fees and Costs — T. Rowe Price Equity Income ETF
Data updated: 2026-08-27
The net expense ratio is 0.54%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $26K in broker commissions, 0.0084% of average net assets, and portfolio turnover was 17%.
TEQI Fees and Expenses
Annual operating expenses and sales charges of TEQI. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.54% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.54% |
| Fee waiver | — |
| Net expense ratio | 0.54% |
| 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 |
TEQI Costs Over Time
On $10,000 invested in TEQI, assuming 5% a year before costs, total costs come to $346 over 5 years, cutting the return by 0.58% 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 0.54%) | $57 | $178 | $310 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $189 | $346 |
| Value after costs | $10,442 | $11,387 | $12,417 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
TEQI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0084%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $7.6M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $3.1M
- Net income from securities lending: $21K (0.007% of average net assets)
TEQI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $3K | 16.28% |
| GOLDMAN SACHS & CO. LLC | $3K | 15.53% |
| BOFA SECURITIES, INC. | $3K | 15.02% |
| MORGAN STANLEY & CO. LLC | $2K | 11.15% |
| Jane Street Execution Services, LLC | $2K | 9.67% |
| EVERCORE GROUP L.L.C. | $2K | 8.06% |
| Citigroup Inc. | $2K | 7.91% |
| BMO Capital Markets Corp. | $1K | 5.87% |
| MIZUHO SECURITIES USA LLC | $1K | 5.73% |
| TD Securities Ltd. | $923 | 4.78% |
TEQI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $6.2M | 81.13% |
| J.P. MORGAN SECURITIES LLC | $927K | 12.14% |
| GOLDMAN SACHS & CO. LLC | $513K | 6.73% |
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.