TMNL Fees and Costs — T. Rowe Price Long Municipal Income ETF
Data updated: 2026-07-28
The net expense ratio is 0.26%. There are no sales loads or redemption fees. Portfolio turnover was 71%.
TMNL Fees and Expenses
Annual operating expenses and sales charges of TMNL. Prospectus, as of April 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.26% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.26% |
| Fee waiver | — |
| Net expense ratio | 0.26% |
| 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 |
TMNL Costs Over Time
On $10,000 invested in TMNL, assuming 5% a year before costs, total costs come to $165 over 5 years, cutting the return by 0.27% 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 0.26%) | $27 | $86 | $150 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $90 | $165 |
| Value after costs | $10,473 | $11,486 | $12,598 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
TMNL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $55.5M
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
TMNL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $16.8M | 35.97% |
| WELLS FARGO SECURITIES, LLC | $6.5M | 13.97% |
| BARCLAYS CAPITAL INC. | $4.9M | 10.60% |
| TD Securities Ltd. | $4.9M | 10.51% |
| MORGAN STANLEY & CO. LLC | $3.6M | 7.63% |
| RBC Capital Markets, LLC | $3.0M | 6.38% |
| BOFA SECURITIES, INC. | $2.2M | 4.75% |
| JEFFERIES LLC | $1.8M | 3.81% |
| GOLDMAN SACHS & CO. LLC | $1.7M | 3.66% |
| STIFEL NICOLAUS EUROPE LIMITED | $1.3M | 2.72% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.