Dividend-adjusted total return · S&P 500 uses VOO · Oct 7, 2026 – Nov 5, 2026TMNLS&P 500 · VOO
T. Rowe Price Long Municipal Income ETFTMNL
$49.29
+0.4% last session
+2.0% YTD
Data as of 11/5/20264:00 PM ET · End-of-day
| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | +0.4% | +5.3% | 0.0% | +2.0% | — | — | — | +2.4% |
| Peer average | +0.3% | +4.1% | −0.5% | +0.9% | +1.2% | +15.4% | +2.9% | — |
| S&P 500 · VOO | −4.4% | −5.7% | −4.9% | +8.4% | +9.8% | +82.2% | +71.6% | — |
Key Statistics
Open all fund facts →- AUM
- $25M
- Expense ratio
- 0.26%
- Distribution yield
- 4.0%
- NAV
- $49.00
- Volume
- 669
- Avg. volume 30D
- 2K
- High today
- $49.29
- Low today
- $49.14
- Previous close
- $49.08
- 52-week high
- $50.84
- 52-week low
- $46.85
- Our risk indicator
- 2/5
TMNL in One Breath
TMNL Among Municipal ETFs
YTDEnd-of-day Nov 6, 2026 · 141 Municipal ETFs by YTD
$10,000 in TMNL
5Y$10,000 in TMNL became
$10,241
In the S&P 500 (VOO)
$11,251
Total return, dividends in · Nov 21, 2025 – Nov 5, 2026 · S&P 500 uses VOO
TMNL’s Top Holdings
TodayHENRICO CNTY VHenrico Cnty Va Econ Dev Auth Henmfh 12/45 Adjustable Var3.1%NEW YORK CIT2.7%UNIV OF NORT2.4%KNOX CNTY TN2.1%NEW YORK CIT2.0%VIRGINIA SMA1.9%MARYLAND ST 1.8%NEW YORK ST 1.7%DENVER CITY 1.7%MARYLAND ST 1.6%NEW YORK ST 1.6%NORTH CAROLI1.6%MARYLAND ST 1.5%AQUARION WTR1.3%GEO L SMITH 1.3%MARYLAND ST 1.3%AUSTIN TX AR1.3%Cash/Cash eq1.3%CALIFORNIA S1.2%SAVANNAH GA 1.2%MADISON CNTY1.2%PUERTO RICO 1.2%
HENRICO CNTY VHenrico Cnty Va Econ Dev Auth Henmfh 12/45 Adjustable Var3.1%NEW YORK CIT2.7%UNIV OF NORT2.4%KNOX CNTY TN2.1%NEW YORK CIT2.0%VIRGINIA SMA1.9%MARYLAND ST 1.8%NEW YORK ST 1.7%DENVER CITY 1.7%MARYLAND ST 1.6%NEW YORK ST 1.6%NORTH CAROLI1.6%
T. Rowe Price TMNL · 149 holdings · top 22 shown · tile size = share of the fund · as of Nov 5, 2026
What TMNL Holds
TodayAll holdings100.0%
HENRICO CN 3.1 · NEW YORK C 2.7 · UNIV OF NO 2.4 · KNOX CNTY 2.1 · NEW YORK C 2.0 · VIRGINIA S 1.9 · MARYLAND S 1.8
T. Rowe Price TMNL · share of the fund · as of Nov 5, 2026
Henrico’s Share of TMNL
Today3.1%
$31 of every $1,000 in TMNL is Henrico
Henrico held by TMNL
$749K
T. Rowe Price TMNL · each square = $10 of $1,000 · as of Nov 5, 2026
TMNL’s Share of Municipal ETFs
Today0.0%
of the $245B in 166 Municipal ETFs
$24.5M0.0%
$54.9B22.4%
$49.6B20.2%
$141B57.4%
Municipal ETF AUM · Nov 6, 2026
TMNL Fee per $100 vs Peers
TodayExpense ratio · Municipal peers · Nov 6, 2026
Inside TMNL
100 holdings · as of Nov 5, 2026TMNL
T. Rowe Price Long Municipal Income ETF
TodayAll holdings100.0%Henrico Cn3.1%NEW York C2.7%Univ OF No2.4%Knox Cnty 2.1%NEW York C2.0%Virginia S1.9%Maryland S1.8%NEW York S1.7%Denver Cit1.7%86 more holdings73.0% of the fund
All holdings100.0%Henrico Cn3.1%NEW York C2.7%94 more holdings85.8% of the fund
| # | Ticker | Company | Weight ▼ |
|---|---|---|---|
| 1 | — | Henrico Cnty VA Econ DEV Auth Henmfh 12/45 Adjustable VAR | 3.06% |
| 2 | — | NEW York City NY Muni WTR FIN Nycutl 06/55 Fixed 5.25 | 2.72% |
| 3 | — | Univ OF North Carolina NC AT C Unchgr 12/55 Fixed 5 | 2.39% |
| 4 | — | Knox Cnty TN Hlth Eductnl HS Knomed 07/59 Fixed 5.5 | 2.05% |
| 5 | — | NEW York City NY Transitional Nycgen 05/51 Fixed 5 | 2.05% |
| 6 | — | Virginia Small Business Fing A Vasdev 12/56 Fixed 5 | 1.90% |
| 7 | — | Maryland ST Econ DEV Priv Mdsdev 06/52 Fixed 5.25 | 1.82% |
| 8 | — | NEW York ST Transprtn DEV Nyttrn 06/59 Fixed 6 | 1.66% |
| 9 | — | Denver City Cnty Arpt REV Denapt 12/37 Fixed 5 | 1.65% |
| 10 | — | Maryland ST Hlth HGR Eductnl Mdsmed 01/46 Fixed 5.5 | 1.64% |
T. Rowe Price TMNL · current holdings by weight · as of Nov 5, 2026 · each tile is one holding · top 20 = 34.5%
All TMNL Holdings
149 holdings · as of Nov 5, 2026TMNL
TMNL’s Holdings
Today| # | |||||
|---|---|---|---|---|---|
| 1 | —Henrico Cnty VA Econ DEV Auth Henmfh 12/45 Adjustable VAR | 3.06% | $305.58 | 750K | $749K |
| 2 | —NEW York City NY Muni WTR FIN Nycutl 06/55 Fixed 5.25 | 2.72% | $271.66 | 650K | $666K |
| 3 | —Univ OF North Carolina NC AT C Unchgr 12/55 Fixed 5 | 2.39% | $238.55 | 575K | $585K |
| 4 | —Knox Cnty TN Hlth Eductnl HS Knomed 07/59 Fixed 5.5 | 2.05% | $205.13 | 500K | $503K |
| 5 | —NEW York City NY Transitional Nycgen 05/51 Fixed 5 | 2.05% | $204.68 | 500K | $502K |
| 6 | —Virginia Small Business Fing A Vasdev 12/56 Fixed 5 | 1.90% | $189.74 | 500K | $465K |
| 7 | —Maryland ST Econ DEV Priv Mdsdev 06/52 Fixed 5.25 | 1.82% | $182.40 | 460K | $447K |
| 8 | —NEW York ST Transprtn DEV Nyttrn 06/59 Fixed 6 | 1.66% | $165.93 | 400K | $407K |
| 9 | —Denver City Cnty Arpt REV Denapt 12/37 Fixed 5 | 1.65% | $165.06 | 400K | $404K |
| 10 | —Maryland ST Hlth HGR Eductnl Mdsmed 01/46 Fixed 5.5 | 1.64% | $163.86 | 400K | $401K |
| 11 | —NEW York ST Mtge AGY Revenue Nyshsg 10/30 Fixed 3.4 | 1.63% | $163.11 | 400K | $400K |
| 12 | —North Carolina ST Turnpike AUT Ncstrn 01/39 Fixed OID 4 | 1.60% | $160.21 | 400K | $393K |
| 13 | —Maryland ST Hlth HGR Eductnl Mdsmed 08/45 Fixed 4 | 1.51% | $150.51 | 430K | $369K |
| 14 | —Aquarion WTR Auth CT WTR SYS R Aquwtr 08/48 Zerocpnoid 0 | 1.33% | $132.88 | 1.0M | $326K |
| 15 | —GEO L Smith II GA Congress CTR Glsfac 01/54 Fixed 4 | 1.29% | $129.24 | 400K | $317K |
T. Rowe Price TMNL · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 5, 2026
How It Compares
TMNL
T. Rowe Price Long Municipal Income ETF’s Peers
YTDMunicipal peers · YTD and past-year returns · as of Nov 6, 2026 · sorted by AUM
Head to Head
Put TMNL head to head with MUB →MUB vs TMNL
YTDYear to date
TMNL wins+1.5 pts
Past year
Level
Fee
MUB winslower fee
Yield
TMNL wins+0.7 pts
AUM
MUB2239.9× more
2–1TMNL wins
iShares MUB and T. Rowe Price TMNL · year-to-date · as of Nov 6, 2026 · AUM not scored
TMNL vs VOO
YTDTMNL · T. Rowe Price Long Municipal Income
+2.0%
VOO · S&P 500
+8.4%
Gap
6.4 pts
T. Rowe Price TMNL and Vanguard VOO · YTD total return · as of Nov 6, 2026
TMNL vs Its Peer Average
YTDTMNLAvsBPeer average
1D+0.4%+0.3%
1M+5.3%+4.1%
3M0.0%−0.5%
YTD+2.0%+0.9%
1Y[…]+1.2%
3Y[…]+15.4%
5Y[…]+2.9%
4–0TMNL wins
165 Municipal peers · each row scaled to its leader
The Details
TMNL
Risk
1Y2/5our risk indicator
CalmerBumpier
Volatility · 1Y[…]
Deepest drop · 1Y[…]
Lowest point · 5Y−2.5%
52-week range
$49.29
$46.85−3.0% from the high$50.84
T. Rowe Price TMNL · past-year price moves · as of Nov 6, 2026
TMNL
Fund Facts
Today2025launched Nov 19
Tracks[…]
Exchange · CUSIPNASDAQ · 87283Q651
StructureETF
Leverage1x
Cost on $10,000$26 a year
Go deeper
T. Rowe Price TMNL · fund facts · as of Nov 6, 2026
TMNL
Payouts by Year
2Y$0.17per share, Oct 2026
Distribution yield4.0%
PaidEvery month
Latest ex-date · paidOct 27 · Oct 29, 2026
11 payouts added up$1.95 a share
T. Rowe Price TMNL · distributions by ex-date · 2025–2026
All Fund FactsDocuments · trading · fees · every payout
Prospectus & Documents
Trading & Liquidity
Net asset value$49.00
Premium / discount[…]
Median spread · 30D[…]
Volume today669
Average volume · 30D2K
Shares outstanding[…]
Options[…]
Fees & Costs
Net expense ratio0.26%
Gross expense ratio[…]
Management fee[…]
Cost on $10,000 a year$26.00
Our risk indicator2/5
Estimated yearly cost excludes trading costs and assumes constant assets.
Distributions
| Ex-date | Paid | Per share |
|---|---|---|
| Oct 27, 2026 | Oct 29, 2026 | $0.17 |
| Sep 25, 2026 | Sep 29, 2026 | $0.18 |
| Aug 26, 2026 | Aug 28, 2026 | $0.18 |
| Jul 28, 2026 | Jul 30, 2026 | $0.18 |
| Jun 25, 2026 | Jun 29, 2026 | $0.18 |
| May 26, 2026 | May 28, 2026 | $0.18 |
| Apr 27, 2026 | Apr 29, 2026 | $0.18 |
| Mar 26, 2026 | Mar 30, 2026 | $0.18 |
| Feb 24, 2026 | Feb 26, 2026 | $0.18 |
| Jan 27, 2026 | Jan 29, 2026 | $0.17 |
| Dec 23, 2025 | Dec 26, 2025 | $0.19 |
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