TMNS Fees and Costs — T. Rowe Price Short Municipal Income ETF
Data updated: 2026-07-28
The net expense ratio is 0.18%. There are no sales loads or redemption fees. Portfolio turnover was 84%.
TMNS Fees and Expenses
Annual operating expenses and sales charges of TMNS. Prospectus, as of April 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.18% |
| Fee waiver | — |
| Net expense ratio | 0.18% |
| 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 |
TMNS Costs Over Time
On $10,000 invested in TMNS, assuming 5% a year before costs, total costs come to $114 over 5 years, cutting the return by 0.19% 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 0.18%) | $19 | $59 | $104 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $62 | $114 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
TMNS 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): $58.8M
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
TMNS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $16.7M | 33.00% |
| WELLS FARGO SECURITIES, LLC | $7.4M | 14.56% |
| BARCLAYS CAPITAL INC. | $6.5M | 12.81% |
| TD Securities Ltd. | $5.7M | 11.33% |
| MORGAN STANLEY & CO. LLC | $3.8M | 7.56% |
| SumRidge Partners, LLC | $3.2M | 6.42% |
| RBC Capital Markets, LLC | $2.9M | 5.65% |
| TRADEWEB EUROPE LIMITED | $2.1M | 4.15% |
| GOLDMAN SACHS & CO. LLC | $1.2M | 2.44% |
| Truist Securities, Inc. | $1.1M | 2.09% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.