THEQ ETF — T. Rowe Price Hedged Equity ETF

T. Rowe Price Hedged Equity ETF (THEQ)

Updated October 16, 2026.

THEQ is an ETF. its trailing-12-month yield is 0.74%, its expense ratio is 0.46%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 21.8% over the past 1.6 years, 15.0 points behind SPY at 36.8%.

T. Rowe Price Hedged Equity ETF is an ETF that combines a long equity strategy—primarily through investments in T. Rowe Price and third-party exchange-traded funds, particularly the T. Rowe Price U.S. Equity Research ETF—with derivatives hedging designed to reduce portfolio volatility and provide downside protection during market declines. The fund carries a modest current distribution rate, makes distributions on an annual basis, and has an expense ratio of 0.46%; note that its latest distribution was special and may not recur regularly. This fund appeals to equity investors seeking to moderate volatility and limit losses in downturns while maintaining exposure to stock market gains.

THEQ performance versus SPY

Price and return data through 2026-10-16.

Total return is 21.8% over the past 1.6 years, 15.0 points behind SPY at 36.8%. Over the past year its total return — price change plus distributions reinvested — is 9.9%. Its deepest 1-year drawdown was 6.2%.

THEQ key facts

Distribution Safety Score™

50 · Unproven

Issuer

T. Rowe Price

Asset type

ETF

Asset class

Equity

Inception date

03/26/2025

Expense ratio

0.46%

Distribution frequency

Annual

Trailing yield

0.74%

Last close

$30.20 (as of 2026-10-16)

AUM

$38,309,253

Average volume

141.0

Dividend

$0.222

Ex-dividend date

12/23/2025

Payment date

12/26/2025

Beta

0.7013

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.74%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: T. Rowe Price; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

THEQ risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.2%.

Who may consider THEQ — and who may not

It is a weaker fit for investors who need monthly cash flow (THEQ pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on THEQ

• All tickers starting with T

Tagged: Hedged.

Frequently asked questions

More securities from T. Rowe Price.