TMSLvsMKTNETF Comparison
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T. Rowe Price Small-Mid Cap ETF (TMSL) belongs to the US Multi-Factor segment. Federated Hermes MDT Market Neutral ETF (MKTN) is part of the Alternatives segment. TMSL's top 3 sector exposures are Finance, Industrials and Healthcare. In contrast, MKTN's top sector exposures are Technology, Finance and Healthcare. TMSL is less expensive with a Total Expense Ratio (TER) of 0.55%, versus 2.27% for MKTN. TMSL is up 15.91% year-to-date (YTD) with +$1.56B in YTD flows. MKTN performs worse with 8.78% YTD performance, and +$99M in YTD flows. Run a side-by-side ETF comparison of TMSL and MKTN 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 MKTN 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 MKTN | -6.07%+2.72% | +2.30%+9.02% | +15.91%+8.78% | +20.04%n/a | +65.48%n/a | n/an/a |
| Flows | TMSL MKTN | +$212M+$12M | +$619M+$24M | +$1.56B+$99M | +$1.81B- | +$2.59B- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSL MKTN | +16.15%+6.86% | +17.79%n/a | +18.60%n/a | n/an/a |
| Max drawdown | TMSL MKTN | -7.18%-1.80% | -10.97%n/a | -24.43%n/a | n/an/a |
| Max drawdown duration | TMSL MKTN | 25d14d | 46dn/a | 283dn/a | n/an/a |
Trading data
TMSL | MKTN | |
Last sale 9/11/2026 at 1:30 PM | $41.90 | $27.91 |
| Previous close 09/10/2026 | $41.57 | $27.80 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
TMSL | MKTN | |
|---|---|---|
| Last price | $41.90 | $27.91 |
| 1D performance | +0.79% | +0.39% |
| AuM | $2.96 B | $136.20 M |
| E/R | 0.55% | 2.27% |
Characteristics
TMSL | MKTN | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Federated Investment Management |
| Benchmark | - | - |
| N° of holdings | 285 | 213 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 15, 2023 | September 24, 2025 |
| ESG | No | No |
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Exposure
Countries
TMSL
USA
90.26%
Other
9.74%
MKTN
USA
85.3%
Other
14.7%
Sectors
TMSL
Finance
25.89%
Industrials
18.15%
Healthcare
16.09%
Technology
12.3%
Non-Energy Materi.
7.64%
Other
19.93%
MKTN
Technology
24.82%
Finance
18.06%
Healthcare
13.77%
Industrials
9.75%
Consumer Cyclical.
7.03%
Other
26.57%
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Diversification
TMSL
Total weight of top 15 holdings out of 15
13.59%
MKTN
Total weight of top 15 holdings out of 15
31.94%
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%
MKTN
The Travelers Cos., Inc.
2.81%
Fiserv, Inc.
2.67%
Viking Holdings Ltd. (Bermuda)
2.51%
Intuit, Inc.
2.45%
AbbVie, Inc.
2.31%
GE Vernova, Inc.
2.17%
Five Below, Inc.
2.16%
CrowdStrike Holdings, Inc.
2.13%
GE Aerospace
1.98%
Advance Auto Parts, Inc.
1.96%
The Bank of New York Mellon Corp.
1.94%
Accenture Plc
1.75%
Netflix, Inc.
1.75%
State Street Corp.
1.72%
Regeneron Pharmaceuticals, Inc.
1.63%
Frequently asked questions about TMSL and MKTN
How have the TMSL and MKTN ETFs performed in 2026?
As of September 10, 2026, TMSL is up 15.91% year-to-date (YTD), while MKTN has returned 8.78%. That puts TMSL better performer ahead so far this year.
Which ETF is attracting more investor money: TMSL or MKTN?
Year-to-date, the TMSL ETF saw +$1.56B in flows, compared to +$99M for MKTN.
Which ETF is bigger: TMSL or MKTN?
As of September 10, 2026, TMSL holds $2.96 B in assets under management (AUM), while MKTN manages $136.20 M.
What sectors do the TMSL and MKTN ETFs invest in?
TMSL leans toward sectors like Finance, Industrials and Healthcare. Meanwhile, MKTN focuses on Technology, Finance and Healthcare.
What are the top holdings of the TMSL ETF and MKTN ETF?
TMSL top holdings include Popular, Inc., Tenet Healthcare Corp. and AXIS Capital Holdings Ltd.. MKTN holds in its top three: The Travelers Cos., Inc., Fiserv, Inc. and Viking Holdings Ltd. (Bermuda).
Which ETF is more diversified: TMSL or MKTN?
TMSL holds 285 securities with 13.59% of its assets in the top 15. MKTN has 213 securities and a top 15 weight of 31.94%.
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