T. Rowe Price on Thursday launched the T. Rowe Price Innovation Leaders ETF (NASDAQ:TNXT), an actively managed fund designed to capture companies driving innovation across sectors including technology, healthcare, and financials. The ETF began trading on the Nasdaq today.



At launch, the fund's top holdings include Nvidia Corp (NASDAQ:NVDA), Apple, Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), and Broadcom Inc (NASDAQ:AVGO), highlighting a core exposure to established innovation heavyweights even as the strategy aims to look beyond traditional sector boundaries.



The ETF has a net expense ratio of 0.49%, placing it in line with other actively managed thematic ETFs.



<h2>Blending Mega-Cap Leaders With Broader Innovation Themes</h2>



While TNXT starts with familiar names at the top of the portfolio, T. Rowe Price says the fund is built to evolve as innovation leadership shifts. The ETF uses the firm's global research platform to combine top-down analysis of long-term innovation trends with bottom-up stock selection, allowing it to invest across industries and geographies.



The portfolio is expected to hold between 150 and 250 stocks, offering diversification while retaining the flexibility to move into emerging innovation areas outside technology when opportunities arise. The approach is designed to adapt to changing market conditions while maintaining disciplined risk management. 



<h2>Innovation Exposure Without A Single-Sector Bet</h2>



By anchoring the portfolio in dominant innovators such as Nvidia and Microsoft while maintaining the flexibility to expand into other industries, TNXT targets investors seeking long-term exposure to innovation without relying solely on a narrow tech-only framework.



As innovation themes continue to spread across healthcare, financial infrastructure, and industrial applications, T. Rowe Price is positioning TNXT as a more adaptive alternative to traditional innovation benchmarks.



T. Rowe Price manages $1.78 trillion in client assets as of Dec. 31, 2025.



Photo: Shutterstock

NVDX

MSFT

NVDA

T. Rowe Price has launched the Innovation Leaders ETF (NASDAQ:TNXT), an actively managed fund aimed at capturing innovation across various sectors, including technology and healthcare. The ETF, which began trading on Nasdaq, features top holdings like Nvidia, Apple, and Microsoft, and has a net expense ratio of 0.49%. It is designed to adapt to changing market conditions and will hold between 150 and 250 stocks, providing diversification while targeting long-term innovation exposure without being limited to a single sector.

- T. Rowe Price launched the T. Rowe Price Innovation Leaders ETF (NASDAQ:TNXT) to capture companies driving innovation across various sectors.  
- The fund features top holdings such as Nvidia, Apple, and Microsoft and aims to invest broadly while adapting to shifts in innovation leadership.  
- With a net expense ratio of 0.49%, the ETF targets investors seeking diversified exposure to innovation beyond just the technology sector.

benzinga_article

T-Rex 2X Long NVIDIA Daily Target ETF

Microsoft

NVIDIA

ISHRS S&P Glb It

T-Rex 2X Long Microsoft Daily Target ETF

iShares Expanded Tech Software Sector ETF

Invesco S&P 500 Equal Weight Tech ETF

Direxion Daily MSFT Bull 2X Shares

Spdr Select Tech

YieldMax MSFT Option Income Strategy ETF

SPDR S&P Software

GraniteShares 2x Long AAPL Daily ETF

Direxion Daily AAPL Bull 2X Shares

Direxion Daily NVDA Bull 2X Shares

T-Rex 2X Long Apple Daily Target ETF

GraniteShares 2x Long MSFT Daily ETF

GraniteShares 2x Long NVDA Daily ETF

T. Rowe Price Innovation Leaders ETF

YieldMax NVDA Option Income Strategy ETF

Apple

Nvidia, Apple, Microsoft Anchor T. Rowe Price's New Active ETF Targeting Innovators