Form N-CSR Cover
Form N-CSR Cover | 12 Months Ended |
May 31, 2024 | |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | T. Rowe Price Exchange-Traded Funds, Inc. |
Entity Central Index Key | 0001795351 |
Entity Investment Company Type | N-1A |
Document Period End Date | May 31, 2024 |
Shareholder Report
Shareholder Report | 12 Months Ended | 19 Months Ended |
May 31, 2024 USD ($) Holding | May 31, 2024 USD ($) Holding | |
Shareholder Report [Line Items] | ||
Document Type | N-CSR | |
Amendment Flag | false | |
Registrant Name | T. Rowe Price Exchange-Traded Funds, Inc. | |
Entity Central Index Key | 0001795351 | |
Entity Investment Company Type | N-1A | |
Document Period End Date | May 31, 2024 | |
C000237190 | ||
Shareholder Report [Line Items] | ||
Fund Name | Floating Rate ETF | |
Trading Symbol | TFLR | |
Security Exchange Name | NYSE | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Floating Rate ETF ("the fund") for the period of June 1, 2023 to May 31, 2024. | |
Shareholder Report Annual or Semi-Annual | Annual Shareholder Report | |
Additional Information [Text Block] | You can find the funds prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information at www.troweprice.com/prospectus info troweprice.com | |
Additional Information Phone Number | 1-800-638-5660 | |
Additional Information Email | info@troweprice.com</span>" id="sjs-B19"><span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; height: auto; max-height: none; min-height: 0px;">info@troweprice.com</span> | |
Additional Information Website | <span style="font-weight: 700; box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; height: auto; max-height: none; min-height: 0px;">www.troweprice.com/prospectus</span></span>" id="sjs-B20"><span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; height: auto; max-height: none; min-height: 0px;"><span style="font-weight: 700; box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; height: auto; max-height: none; min-height: 0px;">www.troweprice.com/prospectus</span></span> | |
Expenses [Text Block] | What were the fund costs for the last year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Floating Rate ETF $65 0.61% | |
Expenses Paid, Amount | $ 65 | |
Expense Ratio, Percent | 0.61% | |
Factors Affecting Performance [Text Block] | What drove fund performance during the past 12 months? Leveraged loans strongly advanced and outpaced most fixed income alternatives in the year ended May 31, 2024, amid growing expectations that the Federal Reserve would keep interest rates higher for longer. The resilient economy, investors healthy risk appetite, and favorable technical conditions also supported the asset classs performance. Compared with the style-specific Morningstar LSTA Performing Loan Index, credit selection in the services sector aided relative performance, driven by our holdings in Ultimate Kronos Group and Ascend Learning. Asurion was a leading contributor in the wireless communications sector. Its dominant market position, solid credit profile, and near-term revenue visibilityas well as an attractive couponsupport our conviction. Selection among cable operators detracted, largely due to Altice France. In March, the company aggressively moved pending asset sales to an unrestricted subsidiary and threatened to withhold them from creditors unless they took a haircut to their claims. Our conservative positioning relative to the style-specific benchmark held back gains as loans from several fundamentally challenged issuers we did not own, such as Air Medical, rallied in the strong performance environment. The fund seeks high current income and some capital appreciation. Over the past year, we positioned the fund with a bias for discounted paper with shorter-dated maturities from higher-conviction issuers. Greater visibility on the trajectory of short-term interest rates and a high degree of confidence that issuers would be able to access capital markets and refinance the loans 12 to 24 months ahead of maturity supported our participation in these deals. | |
Line Graph [Table Text Block] | Floating Rate ETF (Based on Net Asset Value) (Regulatory Benchmark) (Strategy Benchmark) 2022 $9,930 $10,064 $9,991 2023 $10,251 $10,060 $10,371 2023 $10,328 $10,265 $10,455 2023 $10,759 $10,156 $10,972 2023 $10,986 $10,183 $11,218 2024 $11,325 $10,395 $11,598 2024 $11,594 $10,399 $11,885 | |
Average Annual Return [Table Text Block] | 1 Year Since Inception 11/16/22 Floating Rate ETF (Based on Net Asset Value) 12.25 % 10.09 % Floating Rate ETF (At Market Price) 12.05 % 10.38 % Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) 1.31 % 2.58 % Morningstar LSTA Performing Loan Index (Strategy Benchmark) 13.68 % 11.88 % | |
Performance Inception Date | Nov. 16, 2022 | |
AssetsNet | $ 151,734,000 | $ 151,734,000 |
Holdings Count | Holding | 323 | 323 |
Advisory Fees Paid, Amount | $ 612,000 | |
InvestmentCompanyPortfolioTurnover | 46.50% | |
Additional Fund Statistics [Text Block] | What are some fund statistics? Fund Statistics Total Net Assets (000s) $151,734 Number of Portfolio Holdings 323 Investment Advisory Fees Paid (000s) $612 Portfolio Turnover Rate 46.5% | |
Holdings [Text Block] | Credit Quality Allocation* BBB/BB Rated 3.1 % BB Rated 13.0 BB/B Rated 7.0 B Rated 58.4 B/CCC Rated 1.5 CCC Rated and Below 8.9 Not Rated 7.8 Short - Term Holdings 0.3 *Credit ratings for the securities held in the Fund are provided by Moody's and Standard & Poor's and are converted to the Standard & Poor's nomenclature. A rating of AAA represents the highest-rated securities, and a rating of D represents the lowest rated securities. Split ratings (e.g., BB/B and B/CCC) are assigned when Moody's and S&P differ. If a rating is not available, the security is classified as Not Rated. The rating of the underlying investment vehicle is used to determine the creditworthiness of credit default swaps and sovereign securities. The Fund is not rated by any agency. | |
Largest Holdings [Text Block] | Top Ten Holdings Truist Insurance Holdings 3.2 % Hub International 2.8 UKG 2.4 Applied Systems 2.4 AssuredPartners 2.3 Cloud Software Group 2.2 Asurion 1.7 Epicor Software 1.6 UFC Holdings 1.4 Banff Merger Sub 1.4 | |
Material Fund Change Name [Text Block] |
Shareholder Report, Line Graph
Shareholder Report, Line Graph (Details) - USD ($) | 12 Months Ended | ||||||
May 31, 2024 | Feb. 29, 2024 | Nov. 30, 2023 | Aug. 31, 2023 | May 31, 2023 | Feb. 28, 2023 | Nov. 30, 2022 | |
C000237190 | |||||||
Account Value [Line Items] | |||||||
Line Graph and Table Measure Name | (Regulatory Benchmark) | ||||||
T. Rowe Index: Bloomberg U.S. Aggregate Bond Index | |||||||
Account Value [Line Items] | |||||||
Account Value | $ 10,399 | $ 10,395 | $ 10,183 | $ 10,156 | $ 10,265 | $ 10,060 | $ 10,064 |
T. Rowe Index: Morningstar LSTA Performing Loan Index | |||||||
Account Value [Line Items] | |||||||
Line Graph and Table Measure Name | (Strategy Benchmark) | ||||||
Account Value | $ 11,885 | $ 11,598 | $ 11,218 | $ 10,972 | $ 10,455 | $ 10,371 | $ 9,991 |
Shareholder Report, Average Ann
Shareholder Report, Average Annual Return (Details) | 12 Months Ended | 19 Months Ended |
May 31, 2024 | May 31, 2024 | |
C000237190 | ||
Average Annual Return [Line Items] | ||
Line Graph and Table Measure Name | (Regulatory Benchmark) | |
Average Annual Return, Percent | 12.05% | 10.38% |
Without Sales Load [Member] | C000237190 | ||
Average Annual Return [Line Items] | ||
Average Annual Return, Percent | 12.25% | 10.09% |
T. Rowe Index: Bloomberg U.S. Aggregate Bond Index | ||
Average Annual Return [Line Items] | ||
Average Annual Return, Percent | 1.31% | 2.58% |
T. Rowe Index: Morningstar LSTA Performing Loan Index | ||
Average Annual Return [Line Items] | ||
Line Graph and Table Measure Name | (Strategy Benchmark) | |
Average Annual Return, Percent | 13.68% | 11.88% |
Shareholder Report, Holdings (D
Shareholder Report, Holdings (Details) - C000237190 | May 31, 2024 |
FR_BA0002671 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 3.20% |
FR_44332EAX4 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 2.80% |
FR_89841EAB1 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 2.40% |
FR_03827FBD2 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 2.40% |
FR_04621HAW3 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 2.30% |
FR_88632NAV2 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 2.20% |
FR_04649VAZ3 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 1.70% |
FR_29426NAN4 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 1.60% |
FR_90266UAJ2 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 1.40% |
FR_05988HAG2 | |
Holdings [Line Items] | |
Percent of Net Asset Value | 1.40% |
BBB/BB Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 3.10% |
BB Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 13% |
BB/B Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 7% |
B Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 58.40% |
B/CCC Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 1.50% |
CCC Rated and Below | |
Holdings [Line Items] | |
Percent of Total Investments | 8.90% |
Not Rated | |
Holdings [Line Items] | |
Percent of Total Investments | 7.80% |
Short - Term Holdings | |
Holdings [Line Items] | |
Percent of Total Investments | 0.30% |