● LAUNCHED Listed Sep 2, 2026 on NYSE Arca — trading now around $50. Payment history will be charted here from the first distribution.
Status comes from our daily sweep of new US listings plus SEC records. A green LAUNCHED badge means it's live and our launch tracker has logged it.
What TSCZ Does, Per the Prospectus
TSCZ listed on September 2, 2026 — T. Rowe Price bringing its securitized-credit desk to the ETF wrapper. The mandate: at least 80% of assets in securitized instruments — agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, and collateralized loan obligations. Co-portfolio managers Jean-Marc Breaux and Ramon R. de Castro (with the adviser since 2018 and 2012) pick actively across that whole market rather than tracking an index or holding a single slice of it.
Two things stand out against the launches we usually log. First, the fee: 0.20% total, management fee only, with no waiver expiring next year — a fraction of what most new income products charge for active management. Second, the schedule is actually disclosed: the prospectus states the fund declares dividends, if any, and pays them monthly. Most launches make us infer the frequency; this one puts it in the filing. The stated objective is high current income first, capital growth second.
What securitized credit means for an income buyer, in one sentence: instead of lending to companies or the Treasury, the fund holds bundles of mortgages, auto loans, credit-card receivables, and corporate loans — a market that tends to pay more than comparable plain bonds because the structures take work to analyze, which is the entire argument for paying an active desk to do it.
What Nobody Can Know Yet
A day-old fund has no distributions, no real yield, and no track record in this wrapper — any income figure you hear this early is a guess dressed as a number. The honest version: the schedule is monthly, the amount is unknown until the first declaration. We chart every payment of every fund we track from its very first one; TSCZ's page in that library begins the day it declares. Worth naming the risk too: mortgage and asset-backed structures can lag badly when rates move fast or the underlying borrowers struggle — the extra income is compensation for risk, not a free lunch, and it doesn't persist unless the underlying borrowers keep paying.
One email the day a new income fund launches — nothing else, ever. We watch the issuers' own sites continuously; you hear before the videos exist.
Frequently Asked Questions
When did TSCZ launch?
September 2, 2026, on NYSE Arca. Our net sweep of new US listings flagged it and this page went up the same week. The launch tracker shows everything else on the runway.
What does TSCZ pay?
Amount unknown until it declares; schedule disclosed as monthly in the summary prospectus (dated Aug 1, 2026). The first distribution gets charted here the day it exists — no estimates before then.
How is TSCZ different from a CLO ETF or a broad bond fund?
Scope and selection. Single-slice funds own one corner of securitized credit; broad bond funds own everything including Treasuries and corporates, which dilutes the income. TSCZ sits between: an active desk ranging across mortgages, ABS, and CLOs, going wherever that market pays best at the moment. The open question a new fund can't answer yet is what the desk's picks actually distribute — that answer starts accumulating on this page with check one.