T. Rowe Price launches first European active ETFs with zero first-year fees

T. Rowe Price has launched its first European-listed active ETFs, an Irish UCITS platform that opens with two equity strategies. The funds will be registered on Deutsche Börse/Xetra on 8 October 2026, on the London Stock Exchange on 15 October and on Borsa Italiana on 22 October, the firm said. Both sit under the T. Rowe Price ETF ICAV umbrella.

The range starts with the Integrated Global Equity Index UCITS ETF (TIGP) and the Integrated US Equity Enhanced Index UCITS ETF (TUSP). T. Rowe Price says both apply its integrated investing approach, which combines fundamental research, proprietary quantitative modelling and portfolio construction. TUSP is pitched as benchmark-aware US equity exposure for a core holding or as a complement to existing passive positions. TIGP is a higher-conviction global active core strategy built on an approach the firm says has a track record of more than ten years.

Both funds carry a zero total expense ratio for the first year, which the firm calls a mark of its commitment to the new platform. Nataline Terry, head of EMEA distribution, said European investors increasingly want their core allocations to work harder while staying disciplined on risk and portfolio construction, and that the ETFs are designed to complement or replace passive exposures inside structures including model portfolios.

T. Rowe Price's US ETF lineup took in $1.41 billion in September, with $647.47 million of that into the Capital Appreciation Equity ETF, per our records.

The global strategy carries "Index" in its legal name while being launched as part of an active range. Andrew Brickman, who the firm says recently joined in the newly created role of head of ETF solutions, EMEA, said the ETF opportunity in Europe is significant and accelerating, and that the vehicles have moved from a specialist allocation tool to a mainstream one.

The European range does not yet have a UCITS ETF track record; the ten-year claim attaches to the investment approach, not to a UCITS ETF.