T. Rowe Price Group, Inc. (TROW) reported $2.5 billion in net flows into its ETF products during the second quarter, bringing total ETF assets under management to $16.2 billion as of June 30, according to a transcript of the company’s earnings call Friday.
The Baltimore-based asset manager saw over $6 billion in inflows to its ETF products during the first half of 2025, CEO Rob Sharps said during the company’s earnings call, according to the company-provided transcript. Eleven of the firm’s ETFs now hold more than $500 million in assets under management.
The ETF growth comes as T. Rowe Price builds out its product lineup, with the company filing eight new strategies Friday morning, according to Sharps, who said the firm expects “momentum to continue to build as the ETF suite builds track record, scales and gets platform placement.”
The filings include four equity and four fixed-income products, said Eric Veiel, head of global investments and chief investment officer. The equity lineup includes zero-fee active core U.S. equity and international equity ETFs targeting lower price points where the firm previously lacked presence, while the fixed-income products round out the municipal suite and add a multi-sector income ETF.
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“Two of the equity strategies that we launched—at zero price active core US equity ETF and the zero price active core international equity ETF—specifically come in at lower price points, targeting a part of the market where we have not been active, which we think will be incremental new business for us,” Veiel said during the earnings call.
Chief Financial Officer Jen Dardis said the ETF growth represents a combination of existing clients switching from mutual funds and new investors entering through channels where traditional mutual funds faced distribution challenges. Industry data suggest approximately 25% of ETF flows come from clients moving over time and being recaptured in ETF format, she noted.
The firm currently has 24 ETF offerings as of June 30, with many gaining platform placements where the company lacks mutual fund distribution agreements, said Sharps.
“I also know that we have platform placements of many of our ETFs with strategies that aren’t placed—where we don’t have placement with the mutual funds,” Sharps said. “So there are certain—whether it’s broker dealers or platforms—where we’re getting ETF placement, where historically, they’ve not distributed our funds.”
