TMNL T. Rowe Price Long Municipal Income ETF

ETF

ETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

TMNL — —
Key stats
About

T. Rowe Price Long Municipal Income ETF (TMNL) ETF

No description available.

Exchange
XNAS
Inception
2025-11-19
Has Options
No
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
Expense ratio
0.26%
prospectus, filed Apr 24, 2026
Assets
$23M
SEC filing, May 31, 2026
Trailing yield
3.77%
paid monthly
Average daily volume
$61K
30 sessions
Holdings
111
top 10 are 25.9%
Listed
Nov 19, 2025
Nasdaq
Closure risk, 12 months
9.0%
low: trading volume, age · model
FrenzyCap ETF score
34
how it is built
Cost48
Liquidity0
Scale0
Diversification87

Moves with. Long Treasuries (27% of its variance, beta 0.24); US large-cap stocks (7% of its variance, beta 0.08). These factors explain 39% of its daily moves over the last year.

Stated objective. The fund seeks high current income exempt from federal income taxes. (from the fund's prospectus)

All 111 holdingsFlow historyOverlap toolAll National Muni ETFs

Fund flows
through May 2026SEC filings
May 2026
$0
latest reported month
Latest 3 months
$0
0.0% of assets
Latest 12 months
—
Sep 2025: $0SepOct 2025: $0Nov 2025: +$21M+$21MNovDec 2025: $0Jan 2026: +$1.3MJanFeb 2026: $0Mar 2026: $0MarApr 2026: $0May 2026: $0May
View as a table
Net flows of TMNL by month, Sep 2025 to May 2026
MonthNet flow
May 2026$0
Apr 2026$0
Mar 2026$0
Feb 2026$0
Jan 2026+$1.3M
Dec 2025$0
Nov 2025+$21M
Oct 2025$0
Sep 2025$0

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 9 months ago

Similar funds
FundOverlapFeeAssets1Y
MUBiShares National Muni Bond ETF—0.05%$48.9B−5.1%compare
VTEBVanguard Tax-Exempt Bond Index Fund—0.03%$44.4B−5.5%compare
JMUBJPMorgan Municipal ETF—0.18%$8.3B−5.6%compare
CGMUCapital Group Municipal Income ETF—0.27%$6.8B−4.5%compare
PZAInvesco National AMT-Free Municipal Bond ETF—0.28%$4.0B−8.0%compare

The largest other funds in the National Muni category.

Under the hood
fiscal year to Feb 28, 2026SEC census
Authorized participants
3 active
of 20 with agreements; top 3 did 100%
Created · redeemed
$23M · $0
over the fiscal year
Redemptions in kind
0%
creations 0% in kind
Creation unit
25,000
shares
Securities lending
not authorized

From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.

ETF Profile
holdings as of 2027-02-28
Holdings
111
AUM
$22.2M
Provider
Nport
Inception
2025-11-19
Exchange
XNAS
Data As Of
2027-02-28
Expense Ratio
0.26%
Dividend Yield
3.77%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-09-25 2026-09-29 $0.1779 CD
2026-08-26 2026-08-28 $0.1786 CD
2026-07-28 2026-07-30 $0.1774 CD
2026-06-25 2026-06-29 $0.1771 CD
2026-05-26 2026-05-28 $0.1755 CD
2026-04-27 2026-04-29 $0.1760 CD
Asset Allocation
Top Holdings
top 50 of 111 holdings
Symbol Name Weight % Asset Class Country
— NEW YORK MUNI-AA-1 4.68% Debt US
— HENRICO CO ECO AUTH 3.34% Debt US
— HARRIS CNTY TX TOLL REV FIRST LIEN SER A 3.17% Debt US
— UNIV OF NC CHAPEL-A 2.68% Debt US
— NY TRANSITIONAL FIN-B 2.30% Debt US
— CHESAPEAKE BAY VA BRDG & TNL1ST TR AGM 2.22% Debt US
— MD ST ECON PRPLE LINE LT RAIL SR BP3 AMT 2.04% Debt US
— NY TRANSPRTN DEV CORP AMT 1.87% Debt US
— DENVER CITY & CNTY CO ARPT REV SER A AMT 1.83% Debt US
— SALT LAKE CITY UT ARPT REV AMT SER A 1.82% Debt US
— NORTH CAROLINA ST TUR 1.78% Debt US
— MD H&H ED FACS ADVENTIST HLTHCRE SER A 1.78% Debt US
— NEW YORK ST MTGE AGY 1.77% Debt US
— VA SML BFA PRIV TRAN 66 P3 PROJ AMT 1.62% Debt US
— MD ST CMNTY HSG & CMTY DEV SER B 1.57% Debt US
— AUSTIN TX ARPT SYS REV AMT 1.44% Debt US
— MADISON IDA-A-REF 1.38% Debt US
— CA STATEWIDE DEV-C-1 1.38% Debt US
— SAVANNAH-A-REF 1.33% Debt US
— PR COMWLTH CVI-SUBSER CW HTA 98 TXBL 1.30% Debt PR
— PA ECON DEV FING AMT 1.28% Debt US
— BATTERY PARK-REF 1.21% Debt US
— CA CMTY CHOICE AUTH PROJ SER F 1.20% Debt US
— MAIN STREET NAT GAS INC REV SER A 1.19% Debt US
— SAVANNAH GEORGIA-A 1.18% Debt US
— BLACK BELT-D-REF 1.18% Debt US
— CO ST ADVENT HLTH OBLIG GRP SER A 1.14% Debt US
— PORT AUTH NY/NJ-197 AMT 1.11% Debt US
— GEO SMITH II GA CONV CTR AUTH HTL SER A 1.11% Debt US
— ARLINGTON HGR EDU-A 1.04% Debt US
— PR SALES TAX FING SALES TAX REV SER A1 0.98% Debt PR
— CA STATEWIDE DEV-C-1 0.96% Debt US
— CLIFTON HGR EDU FIN 0.95% Debt US
— SOUTHEAST ENERGY-H 0.94% Debt US
— AZ ST INDL DEV AUTH-A 0.93% Debt US
— MED UNIV HOSP AUTH 0.93% Debt US
— DC ARPT DULLES TOLL RD SER A 0.91% Debt US
— KY ST PUB ENERGY GAS SPLY REV SER A-1 0.90% Debt US
— NJ ECON DEV AUTH GOETHALS BRIDGE AMT 0.89% Debt US
— DC-KIPP-SER A-REF 0.89% Debt US
— CUYAHOGA CO HOSP 0.89% Debt US
— PR SALES TAX FING SALES TAX REV SER A1 0.89% Debt PR
— OH AIR QLTY DEV AUTH PRAT PAPER 144A AMT 0.89% Debt US
— HARRIS CO BRAZOS PRSBYT HOMES SR A 0.89% Debt US
— DE ST EDA NEWARK CHRTR SCH INC SER A 0.89% Debt US
— PHX AZ STDNT HSG REV AZ ST UNIV PRJ SR A 0.89% Debt US
— GOLDEN ST TOBACCO SEC TOBACCO SUB SR B-2 0.88% Debt US
— TOBACCO SETTLEMENT-A2 0.87% Debt US
— NATIONAL FIN AUTH CTFS SR 2024-1 CLASS A 0.86% Debt US
— NYC AGY REV QUEENS STADIUM SER A 0.86% Debt US
Non-Equity Breakdown
T. Rowe Price Long Municipal Income ETF · NPORT-P period 2026-05-31 (filed 2026-07-28)
Net assets: $23M · 111 total positions · equity 0.00% · non-equity 98.41%
Non-equity holdings — 111 positions, 98.41% of NAV
Category Weight Value Positions
Municipal 98.41% $22.2M 111
Chart
Seasonality
Month'25'26Avg
Jan--0.30%0.30%
Feb--1.07%1.07%
Mar---2.23%-2.23%
Apr--0.43%0.43%
May--0.18%0.18%
Jun--0.48%0.48%
Jul---2.22%-2.22%
Aug---0.59%-0.59%
Sep---3.38%-3.38%
Oct---0.62%*-0.62%
Nov0.42%--0.42%
Dec-0.07%---0.07%
Total0.35%-6.48%-3.07%
* Only 2 year(s) of data available.
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $47.68
SMA 50: $48.70
SMA 200: $49.85
Current: $47.19
EMA 12: $47.37
EMA 26: $47.85
MACD: -0.4801 | Signal: 0.0100
BEARISH
ADX (14): 31.41
TREND
+DI: 32.00
−DI: 51.55

Momentum Oscillators

RSI (14): 35.36
NEUTRAL
Stoch %K: 15.87
Stoch %D: 18.17
Williams %R: -77.35

Volume & Volatility

BB Upper: $48.84
BB Lower: $46.53
NEUTRAL
OBV: 52,241
Vol SMA 20: 1,801
Vol ROC: -55.05%
ATR: $0.22
True Range: $0.10
HV 20: 7.3%
HV 30: 7.8%
HV 60: 6.5%

Data Summary

Data Points: 221
Last Updated:
Date Range: 2025-11-20T00:00:00 – 2026-10-09T00:00:00
AI Analysis

Click Frenzy-Pro™ for an AI analysis of this ticker.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

TMNL Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.1533
Alpha: -9.93%
Correlation: 0.3792
R-Squared: 14.4%
Stock Volatility: 5.1%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 220
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

TMNL Institutional Ownership (13F)

Latest filings — 2026-06-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

2 filers32,589 shares$1.65M value
# Filer Shares Value % of Total % of Float Period
1 Royal Bank of Canada Custodian 21,196 $1.07M 65.05% — 2026-06-30
2 Jane Street Group, LLC Custodian 11,393 $576.06K 34.95% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Constituent Performance

Click any bar to view the full quote for that stock.

Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month