T. Rowe Price Exchange-Traded Funds, Inc. - T. Rowe Price QM U.S. Bond ETF is an exchange traded fund launched and managed by T. Rowe Price Associates, Inc. The fund invests in fixed income markets of the United States. It invests directly and through derivatives in investment-grade, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, municipal securities, treasury securities and U.S. dollar-denominated securities of foreign issuers with intermediate to long-term maturities. It uses derivatives such as futures to create its portfolio. The fund employs fundamental and quantitative analysis to create its portfolio. It seeks to benchmark the performance of its portfolio against the Bloomberg U.S. Aggregate Bond Index and the Lipper Core Bond Funds Average. T. Rowe Price Exchange-Traded Funds, Inc. - T. Rowe Price QM U.S. Bond ETF was formed on September 28, 2021 and is domiciled in the United States.