T. Rowe Price Launches Emerging Markets Bond ETF With Broad Credit Flexibility

T. Rowe Price has launched the T. Rowe Price Dynamic Emerging Markets Bond ETF (TDEM), an actively managed fund investing primarily in debt issued across emerging markets. The ETF will normally invest at least 80% of assets in emerging-market debt, including sovereign, quasi-sovereign, government agency and corporate bonds across Latin America, Asia, Europe, Africa and the Middle East. TDEM can hold both U.S. dollar-denominated and local-currency securities and has flexibility across the credit spectrum. The fund may invest in investment-grade bonds as well as below-investment-grade securities, including deeply distressed or defaulted debt, with no overall cap on high-yield exposure. The strategy gives T. Rowe Price broad latitude to shift across countries, issuers, currencies and credit quality as opportunities change.