0001795351 2026-06-30 2026-06-30 0001795351 trowe:S000071604Member 2026-06-30 2026-06-30 0001795351 trowe:S000071604Member oef:RiskNondiversifiedStatusMember 2026-06-30 2026-06-30 false N-1A 497 T. Rowe Price Exchange-Traded Funds, Inc. 0001795351 <p id="xdx_A80_eoef--SupplementToProspectusTextBlock_zQ9Uta1m8up2" style="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0">Supplement to Prospectus and Summary Prospectus dated <span id="xdx_90E_eoef--ProspectusDate_c20260630__20260630_zRLLAn9QsDG3">March 1, 2026</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">On June 25, 2026, the fund’s shareholders approved a proposal to change the fund’s diversification policy from diversified to nondiversified. The switch from diversified to nondiversified will become effective on July 1, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Accordingly, all of the following changes are effective July 1, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> 2026-03-01 <p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_zGUWY9DhHkAd" style="font: 10pt Times New Roman, Times, Serif; margin: 0">In the Summary Prospectus, and Sections 1 and 2 of the Prospectus, the disclosure under “Principal Investment Strategies” is supplemented as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The fund is nondiversified, which means it may invest a greater percentage of its assets in a particular issuer than is permissible for a diversified fund.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zvY4hAzK89Y6" style="font: 10pt Times New Roman, Times, Serif; margin: 0">In the Summary Prospectus and Section 1 of the Prospectus, the disclosure under “Principal Risks” is supplemented as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><b>Nondiversification:</b> As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The fund’s share price can be expected to fluctuate more than that of a similar fund that is more broadly diversified.</p> 2026-06-30