TGRT vs. TAXE

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Growth ETF (TGRT) and T. Rowe Price Intermediate Municipal Income ETF (TAXE).

TGRT and TAXE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TGRT is an actively managed fund by T. Rowe Price. It was launched on Jun 14, 2023. TAXE is an actively managed fund by T. Rowe Price. It was launched on Jul 9, 2024.

Performance

TGRT vs. TAXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth ETF (TGRT) and T. Rowe Price Intermediate Municipal Income ETF (TAXE). The values are adjusted to include any dividend payments, if applicable.

TGRT vs. TAXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TGRT T. Rowe Price Growth ETF	-10.29%	16.94%	4.52%
TAXE T. Rowe Price Intermediate Municipal Income ETF	0.32%	5.78%	1.55%

Returns By Period

In the year-to-date period, TGRT achieves a -10.29% return, which is significantly lower than TAXE's 0.32% return.

TGRT

• 1D: 0.99%
• 1M: -5.02%
• YTD: -10.29%
• 6M: -9.32%
• 1Y: 14.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXE

• 1D: 0.15%
• 1M: -1.77%
• YTD: 0.32%
• 6M: 1.98%
• 1Y: 5.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TGRT vs. TAXE - Expense Ratio Comparison

TGRT has a 0.38% expense ratio, which is higher than TAXE's 0.24% expense ratio.

TGRT

T. Rowe Price Growth ETF

TAXE

T. Rowe Price Intermediate Municipal Income ETF

Return for Risk

TGRT vs. TAXE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TGRT

TGRT Risk / Return Rank: 34
TGRT Sharpe Ratio Rank: 32
TGRT Sortino Ratio Rank: 36
TGRT Omega Ratio Rank: 35
TGRT Calmar Ratio Rank: 33
TGRT Martin Ratio Rank: 32

TAXE

TAXE Risk / Return Rank: 76
TAXE Sharpe Ratio Rank: 82
TAXE Sortino Ratio Rank: 78
TAXE Omega Ratio Rank: 91
TAXE Calmar Ratio Rank: 66
TAXE Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TGRT vs. TAXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth ETF (TGRT) and T. Rowe Price Intermediate Municipal Income ETF (TAXE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TGRT	TAXE	Difference
Sharpe ratio Return per unit of total volatility	0.65	1.68	-1.03
Sortino ratio Return per unit of downside risk	1.09	2.12	-1.03
Omega ratio Gain probability vs. loss probability	1.15	1.41	-0.26
Calmar ratio Return relative to maximum drawdown	0.88	1.89	-1.01
Martin ratio Return relative to average drawdown	2.98	6.74	-3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGRT vs. TAXE - Sharpe Ratio Comparison

The current TGRT Sharpe Ratio is 0.65, which is lower than the TAXE Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TGRT and TAXE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TGRT	TAXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.68	-1.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.38	-0.46

Correlation

The correlation between TGRT and TAXE is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TGRT vs. TAXE - Dividend Comparison

TGRT's dividend yield for the trailing twelve months is around 0.09%, less than TAXE's 3.50% yield.

	TTM	2025	2024	2023
TGRT T. Rowe Price Growth ETF	0.09%	0.08%	0.09%	0.06%
TAXE T. Rowe Price Intermediate Municipal Income ETF	3.50%	3.46%	1.74%	0.00%

Drawdowns

TGRT vs. TAXE - Drawdown Comparison

The maximum TGRT drawdown since its inception was -22.04%, which is greater than TAXE's maximum drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for TGRT and TAXE.

Drawdown Indicators

	TGRT	TAXE	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-3.72%	-18.32%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-3.05%	-14.84%
Current Drawdown Current decline from peak	-13.75%	-2.01%	-11.74%
Average Drawdown Average peak-to-trough decline	-3.26%	-0.66%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	0.86%	+4.44%

Volatility

TGRT vs. TAXE - Volatility Comparison

T. Rowe Price Growth ETF (TGRT) has a higher volatility of 7.45% compared to T. Rowe Price Intermediate Municipal Income ETF (TAXE) at 0.99%. This indicates that TGRT's price experiences larger fluctuations and is considered to be riskier than TAXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGRT	TAXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.45%	0.99%	+6.46%
Volatility (6M) Calculated over the trailing 6-month period	13.10%	1.50%	+11.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.69%	3.25%	+19.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	3.23%	+16.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	3.23%	+16.07%