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TIER

GradeBNew York Stock Exchange Arca

T. Rowe Price International Equity Research ETF

Active Equity · T. Rowe · Inception 2025-06-25

$32.67−0.36 (−1.08%)

As of Sep 23, 2026, 11:10 AM EDT

History starts Jun 26, 2025.
Intraday session: down, 5 prints from 33.03 to 32.67. Range 32.65 to 32.82. Use the arrow keys to read each point.$32.70$32.75$32.8010 AM12 PM2 PM4 PM
Expense ratio
0.38%
Fund size
$143M
1Y return
+22.5%
Yield · Last 12 months
Data unavailable
Holdings
345
Volume · 30D
0M sh
NAV per share
$32.85
52W range
low $26.74high $34.49

The ETF.net TIER Grade

B

61/ 100

Rank 20 of 57 in International Active Equity⁠

Confidence Medium

Six-pillar profile for TIER. Scores out of 100: Cost 81, Risk 54, Mission not scored, Tradability 26, Holdings 75, Durability 50. Strongest: Cost (81). Weakest: Tradability (26). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 61 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 81
    Category rank12/57 · top 21%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 54
    Category rank32/57 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 26
    Category rank43/57 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 75
    Category rank11/53 · top 21%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 50
    Category rank33/57 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on TIER

ETF.net Research

BRoughly 40 T. Rowe Price analysts pick the stocks, while sector and industry weights stay close to the MSCI ACWI ex USA Index. The wager here is name-by-name research abroad, not a call on which sector or region takes the lead.

Stated mandate

The fund seeks long-term capital appreciation. It is an actively managed ETF investing primarily in non-U.S. stocks across developed and emerging markets, using bottom-up research and seeking excess returns relative to the MSCI ACWI ex USA Index.

Why people hold it

  1. 01Charges 0.38%, below the 0.60% median for active international equity funds in its peer group.
  2. 02The portfolio is built from the picks of roughly 40 T. Rowe Price equity research analysts, with portfolio managers holding oversight and final discretion.troweprice.com
  3. 03Sector and industry weights hug the MSCI ACWI ex USA Index, so results relative to that benchmark hinge on stock selection rather than sector bets.troweprice.com
  4. 04One ticker covers both developed and emerging markets, spread across roughly 300 stocks, in a fully transparent active ETF wrapper.prnewswire.com

Worth knowing

  1. 01Index-like sector weights cut both ways: the fund has less room to reallocate across sectors than active funds with a freer hand, and can lag them as a result.troweprice.com
  2. 02It began trading in June 2025, so the track record is short, and it remains a small, thinly traded fund where bid-ask spreads deserve a look before you trade.
  3. 03Cheaper systematic rivals cover similar ground, with AVDE at 0.23% and DFIC at 0.22%.

TIER Holdings

As of Sep 20, 2026, 7:24 AM
Asset class
Stocks
Holdings
345
Top-10 weight
16%
Largest holding
2330.TW3.5%

Sectors

  • Financials25.3%
  • Technology22.3%
  • Industrials13.8%
  • Consumer Discr.7.6%
  • Materials7.0%
  • Health Care6.7%
  • Communication5.5%
  • Energy5.1%
  • Cons. Staples4.0%
  • Utilities2.1%
  • Real Estate0.6%

Geography

  • Japan17.90%
  • United Kingdom10.73%
  • Taiwan (Province of China)10.43%
  • Canada9.14%
  • Germany6.09%
  • Switzerland5.70%
  • China5.20%
  • France5.19%
  • Other countries (31)29.62%

Developed 76% · Emerging 24% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 30.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0012330.TWTAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.03.55%65,000$5M175
002TSMTAIWAN SEMICONDUCTOR SP ADR ADR2.34%7,702$3M268
003—SK HYNIX INC COMMON STOCK KRW5000.01.92%2,089$3M3
004ASML.ASASML HOLDING NV NY REG SHS NY REG SHRS EUR.091.79%1,551$3M194
005SMSN.ILSAMSUNG ELECTR GDR REG S GDR1.39%415$2M15
006—YUAN RENMINBI OFFSHORE1.02%9,658,231$1M10
007RY.TOROYAL BANK OF CANADA COMMON STOCK0.99%6,857$1M92
008HSBA.LHSBC HOLDINGS PLC COMMON STOCK USD.50.93%63,658$1M145
009BHP.AXBHP GROUP LTD COMMON STOCK0.90%29,420$1M151
010ROP.SWROCHE HOLDING AG COMMON STOCK CHF.0010.87%2,808$1M196
011—SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.00.86%6,433$1M3
0128306.TMITSUBISHI UFJ FINANCIAL GRO COMMON STOCK0.85%50,800$1M155
0132454.TWMEDIATEK INC COMMON STOCK TWD10.00.81%8,000$1M162
014TD.TOTORONTO DOMINION BANK COMMON STOCK0.81%9,354$1M94
015TCEHYTENCENT HOLDINGS LTD UNS ADR ADR HKD.000020.77%19,980$1M23

Showing 1–15 of 441 holdings

TIER Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TIER$12,245
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TIER $12,245. SPY $11,723. Use the arrow keys to read each point.$9,308$10,926$12,544Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TIER. Periods over one year show the average yearly return.
PeriodTIER
Year to date+16.9%
1 month−0.2%
3 months+0.4%
1 year+22.5%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TIER
YearReturn barTIER
2026 YTD+16.9%
2025+12.4%

History from Jun 26, 2025

TIER in the news

ETF.net Research hasn’t filed on TIER yet — coverage lands here as it’s written.

TIER Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.21 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.21. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 26, 2025$0.21

TIER Risk

How much the fund’s monthly returns vary, scaled to a year.
14.1%
Annualised · 14 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.39
vs 3-month T-bills · 14 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−12.1%
14 months · trough Mar 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.89
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TIER Cost

Expense ratio0.38%
  • The middle half of International Active Equity funds
  • Median 0.58%

10 of the 55 International Active Equity funds charge less.

TIER costs $38.00 a year on $10,000. The median International Active Equity fund costs $58.00.