# THEQ (T. Rowe Price Hedged Equity ETF)

T. Rowe Price · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, THEQ fell 72% as much as the index.

## Key facts

- THEQ, correlation with the S&P 500: +0.98, as of Sep 18, 2026.
- THEQ, beta to the S&P 500: +0.68, as of Sep 18, 2026.
- THEQ, down-week capture: 71.5%, as of Sep 18, 2026.
- THEQ, against T-bills, 52 weeks: +5.5 pts, as of Sep 18, 2026.
- THEQ, net assets: $37m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- THEQ, expense ratio: 0.46% (485BPOS XBRL, Feb 25, 2026).

## THEQ over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +1.0% | +2.3% | −1.2 pts |
| 6 months | +10.9% | +18.0% | −7.1 pts |
| 1 year | +9.6% | +16.6% | −7.0 pts |
| Since it listed | +21.4% | +36.5% | −15.2 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | T. Rowe Price | ETFIQ |
| Strategy | Hedged equity | ETFIQ, from its prospectus |
| Expense ratio | 0.46% | 485BPOS XBRL, Feb 25, 2026 |
| Net assets | $37m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| THEQ in those weeks, on average | −0.89% | ETFIQ |
| THEQ total return over those weeks | +9.1% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Mar 27, 2025 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does THEQ move with the S&P 500?

Over the year to Sep 18, 2026, THEQ’s weekly returns had a correlation of +0.98 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.68, so for each 1% the index moved it moved about 0.68% the same way.

### What did THEQ do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks THEQ fell 0.89% on average, a down-week capture of 71.5%.

### Did THEQ earn more than cash?

Over the same 52 weeks THEQ returned +9.1% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. THEQ finished 5.5 percentage points ahead of it.

### What does THEQ cost?

The prospectus expense ratio is 0.46% a year.

### Why is THEQ listed as hedged equity?

ETFIQ files each fund by what its own prospectus says it does, and THEQ’s, filed Feb 25, 2026, describes a hedged equity fund.


## Cite this page

ETFIQ, THEQ, data as of Sep 18, 2026. https://etfiq.com/funds/theq
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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