TMSLvsEUSAETF Comparison
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T. Rowe Price Small-Mid Cap ETF (TMSL) belongs to the US Multi-Factor segment. iShares MSCI USA Equal Weighted ETF (EUSA) is part of the US Large Cap segment. TMSL's top 3 sector exposures are Finance, Industrials and Healthcare. In contrast, EUSA's top sector exposures are Finance, Technology and Industrials. TMSL is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.09% for EUSA. TMSL is up 15.91% year-to-date (YTD) with +$1.56B in YTD flows. EUSA performs worse with 12.03% YTD performance, and +$316M in YTD flows. Run a side-by-side ETF comparison of TMSL and EUSA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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TMSL vs EUSA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSL EUSA | -6.07%-2.85% | +2.30%+2.49% | +15.91%+12.03% | +20.04%+12.71% | +65.48%+53.64% | n/a+43.83% |
| Flows | TMSL EUSA | +$212M+$52M | +$619M+$208M | +$1.56B+$316M | +$1.81B+$218M | +$2.59B+$945M | -+$1.08B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSL EUSA | +16.15%+10.35% | +17.79%+12.06% | +18.60%+14.40% | n/a+17.10% |
| Max drawdown | TMSL EUSA | -7.18%-4.62% | -10.97%-7.82% | -24.43%-18.22% | n/a-25.29% |
| Max drawdown duration | TMSL EUSA | 25d29d | 46d49d | 283d226d | n/a834d |
Trading data
TMSL | EUSA | |
Last sale 9/11/2026 at 1:30 PM | $41.90 | $115.03 |
| Previous close 09/10/2026 | $41.57 | $114.19 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TMSL
is actively managed and doesn’t replicate an indexTMSL | EUSA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
TMSL | EUSA | |
|---|---|---|
| Last price | $41.90 | $115.03 |
| 1D performance | +0.79% | +0.74% |
| AuM | $2.96 B | $1.93 B |
| E/R | 0.55% | 0.09% |
Characteristics
TMSL | EUSA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | iShares |
| Benchmark | - | MSCI USA Equal Weighted Index |
| N° of holdings | 285 | 525 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 15, 2023 | May 5, 2010 |
| ESG | No | No |
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Exposure
Countries
TMSL
USA
90.26%
Other
9.74%
EUSA
USA
94.38%
Other
5.62%
Sectors
TMSL
Finance
25.89%
Industrials
18.15%
Healthcare
16.09%
Technology
12.3%
Non-Energy Materi.
7.64%
Other
19.93%
EUSA
Finance
21.76%
Technology
16.63%
Industrials
13.65%
Healthcare
11.33%
Consumer Non-Cycl.
7.3%
Other
29.32%
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Diversification
TMSL
Total weight of top 15 holdings out of 15
13.59%
EUSA
Total weight of top 15 holdings out of 15
4.04%
Top 15 holdings
Data as of July 31, 2026
TMSL
Popular, Inc.
1.19%
Tenet Healthcare Corp.
1.10%
AXIS Capital Holdings Ltd.
0.97%
Permian Resources Corp.
0.96%
nVent Electric Plc
0.93%
East West Bancorp, Inc.
0.90%
Guardant Health, Inc.
0.89%
TechnipFMC plc
0.89%
Reliance, Inc.
0.87%
The Middleby Corp.
0.84%
Corpay, Inc.
0.84%
StandardAero, Inc.
0.82%
Voya Financial, Inc.
0.80%
Marex Group Ltd.
0.79%
Teledyne Technologies, Inc.
0.79%
EUSA
Snowflake, Inc.
0.32%
Dell Technologies, Inc.
0.31%
Okta, Inc.
0.30%
SharkNinja, Inc.
0.29%
Best Buy Co., Inc.
0.27%
International Paper Co.
0.27%
Illumina, Inc.
0.26%
Hewlett Packard Enterprise Co.
0.26%
NetApp, Inc.
0.26%
Dollar Tree, Inc.
0.26%
Toast, Inc.
0.26%
CDW Corp.
0.25%
United Airlines Holdings, Inc.
0.25%
Natera, Inc.
0.25%
IQVIA Holdings, Inc.
0.25%
Frequently asked questions about TMSL and EUSA
How have the TMSL and EUSA ETFs performed in 2026?
As of September 10, 2026, TMSL is up 15.91% year-to-date (YTD), while EUSA has returned 12.03%. That puts TMSL better performer ahead so far this year.
Which ETF is attracting more investor money: TMSL or EUSA?
Year-to-date, the TMSL ETF saw +$1.56B in flows, compared to +$316M for EUSA.
Which ETF is more volatile: TMSL or EUSA?
Over the past year, TMSL had a volatility of 17.79%, while EUSA experienced 12.06%.
Which ETF is bigger: TMSL or EUSA?
As of September 10, 2026, TMSL holds $2.96 B in assets under management (AUM), while EUSA manages $1.93 B.
What sectors do the TMSL and EUSA ETFs invest in?
TMSL leans toward sectors like Finance, Industrials and Healthcare. Meanwhile, EUSA focuses on Finance, Technology and Industrials.
What are the top holdings of the TMSL ETF and EUSA ETF?
TMSL top holdings include Popular, Inc., Tenet Healthcare Corp. and AXIS Capital Holdings Ltd.. EUSA holds in its top three: Snowflake, Inc., Dell Technologies, Inc. and Okta, Inc..
Which ETF is more diversified: TMSL or EUSA?
TMSL holds 285 securities with 13.59% of its assets in the top 15. EUSA has 529 securities and a top 15 weight of 4.04%.
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