TMSLvsVBETF Comparison
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T. Rowe Price Small-Mid Cap ETF (TMSL) belongs to the US Multi-Factor segment. Vanguard Morningstar Small-Cap ETF (VB) is part of the US Small Cap segment. TMSL's top 3 sector exposures are Finance, Healthcare and Industrials. In contrast, VB's top sector exposures are Finance, Technology and Industrials. TMSL is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.03% for VB. TMSL is up 15.41% year-to-date (YTD) with +$1.78B in YTD flows. VB performs worse with 13.72% YTD performance, and +$933M in YTD flows. Run a side-by-side ETF comparison of TMSL and VB 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 VB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSL VB | +0.90%+1.37% | -3.78%-1.91% | +15.41%+13.72% | +15.93%+13.20% | +79.92%+72.93% | n/a+38.49% |
| Flows | TMSL VB | +$150M+$190M | +$539M+$191M | +$1.78B+$933M | +$1.91B+$792M | +$2.79B+$9.52B | -+$12.99B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSL VB | +13.65%+12.97% | +17.50%+15.70% | +18.48%+18.52% | n/a+20.52% |
| Max drawdown | TMSL VB | -9.77%-7.96% | -10.97%-8.96% | -24.43%-25.25% | n/a-28.14% |
| Max drawdown duration | TMSL VB | 71d72d | 46d48d | 283d296d | n/a980d |
Trading data
TMSL | VB | |
Last sale 10/28/2026 at 6:35 PM | $41.64 | $290.23 |
| Previous close 10/27/2026 | $41.58 | $290.51 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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TMSL
is actively managed and doesn’t replicate an indexTMSL | VB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/28/2026 at 6:35 PM
Live
Closed
TMSL | VB | |
|---|---|---|
| Last price | $41.64 | $290.23 |
| 1D performance | +0.14% | -0.10% |
| AuM | $3.16 B | $78.62 B |
| E/R | 0.55% | 0.03% |
Characteristics
TMSL | VB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | Vanguard |
| Benchmark | - | CRSP U.S. Small Cap Index |
| N° of holdings | 287 | 1291 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 15, 2023 | January 26, 2004 |
| ESG | No | No |
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Exposure
Countries
TMSL
USA
90.17%
Other
9.83%
VB
USA
95.23%
Other
4.77%
Sectors
TMSL
Finance
26.27%
Healthcare
17.1%
Industrials
16.4%
Technology
12.41%
Non-Energy Materi.
7.78%
Other
20.04%
VB
Finance
21.78%
Technology
14.86%
Industrials
14.57%
Healthcare
13.45%
Non-Energy Materi.
8.44%
Other
26.9%
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Diversification
TMSL
Total weight of top 15 holdings out of 15
13.56%
VB
Total weight of top 15 holdings out of 15
6.19%
Top 15 holdings
Data as of August 31, 2026
TMSL
Tenet Healthcare Corp.
1.15%
Popular, Inc.
1.15%
Permian Resources Corp.
1.02%
TechnipFMC plc
0.93%
AXIS Capital Holdings Ltd.
0.91%
nVent Electric Plc
0.90%
Corpay, Inc.
0.90%
East West Bancorp, Inc.
0.89%
Guardant Health, Inc.
0.89%
Marex Group Ltd.
0.89%
InterDigital, Inc.
0.83%
Reliance, Inc.
0.82%
TD SYNNEX Corp.
0.78%
Acuity, Inc.
0.75%
Samsara, Inc.
0.75%
VB
Moderna, Inc.
0.62%
Natera, Inc.
0.54%
Revolution Medicines, Inc.
0.51%
Credo Technology Group Holding Ltd.
0.46%
Twilio, Inc.
0.44%
EMCOR Group, Inc.
0.40%
Jabil, Inc.
0.40%
TechnipFMC plc
0.38%
Illumina, Inc.
0.38%
Everpure, Inc.
0.36%
Okta, Inc.
0.36%
ATI, Inc.
0.34%
Casey's General Stores, Inc.
0.34%
Atmos Energy Corp.
0.34%
Williams-Sonoma, Inc.
0.33%
Frequently asked questions about TMSL and VB
How have the TMSL and VB ETFs performed in 2026?
As of October 26, 2026, TMSL is up 15.41% year-to-date (YTD), while VB has returned 13.72%. That puts TMSL better performer ahead so far this year.
Which ETF is attracting more investor money: TMSL or VB?
Year-to-date, the TMSL ETF saw +$1.78B in flows, compared to +$933M for VB.
Which ETF is more volatile: TMSL or VB?
Over the past year, TMSL had a volatility of 17.5%, while VB experienced 15.7%.
Which ETF is bigger: TMSL or VB?
As of October 26, 2026, TMSL holds $3.16 B in assets under management (AUM), while VB manages $78.62 B.
What sectors do the TMSL and VB ETFs invest in?
TMSL leans toward sectors like Finance, Healthcare and Industrials. Meanwhile, VB focuses on Finance, Technology and Industrials.
What are the top holdings of the TMSL ETF and VB ETF?
TMSL top holdings include Tenet Healthcare Corp., Popular, Inc. and Permian Resources Corp.. VB holds in its top three: Moderna, Inc., Natera, Inc. and Revolution Medicines, Inc..
Which ETF is more diversified: TMSL or VB?
TMSL holds 287 securities with 13.56% of its assets in the top 15. VB has 1302 securities and a top 15 weight of 6.19%.
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Latest news about TMSL & VB
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