AVNM vs TACN

AVNMAAvantis All International Markets Equity ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

AVNM One ticker for the entire Avantis international playbook: developed and emerging markets, large caps down to small caps, tilted toward cheaper and more profitable companies. A fund of funds holding the firm's own ETFs, 0.31% all in.

TACN T. Rowe Price's index-aware take on developed international stocks: it shadows the MSCI EAFE benchmark while nudging weights, and the fee is waived to 0.00% through January 30, 2027 (0.20% gross).

Stated mandate

AVNM The fund seeks long-term capital appreciation.

TACN The fund's goal is to achieve long-term capital growth.

Why people hold it

• AVNM One trade buys Avantis's whole non-US lineup: developed and emerging markets, large caps through small caps, assembled from the firm's own ETFs.sec.gov
• 0.31% all in, below the category median, and the prospectus fee table shows nearly all of that is the underlying funds' own expenses, not a second management layer.sec.gov
• Emerging markets are a built-in 30% target weight (range 15% to 40%), not a sleeve bolted onto a developed-markets core.sec.gov
• Sits in the upper tier of its active international peer group, helped by low cost and steady day-to-day tradability. Pays quarterly.

• TACN Fee waived to zero through January 30, 2027, then the 0.20% gross rate applies. Top-scoring active international peers AVDE (0.23%) and DFIC (0.22%) charge more, with no waiver.troweprice.com
• Built around the MSCI EAFE Index: an optimizer modestly over- and underweights names, targeting tracking error above most passive funds and below most active ones.sec.govtroweprice.com
• Names come from T. Rowe's quant models plus bottom-up fundamental research (valuation, profitability, financial stability, earnings quality), with at least 80% of net assets normally in equities.sec.govtroweprice.com
• Despite being new, it already stands among the strongest-rated funds in a crowded active international equity group, with long-term capital growth as the stated goal.

Worth knowing

• AVNM It is a wrapper: a short list of Avantis funds, one firm's research process end to end. Read the underlying funds' documents to see what you actually hold.sec.gov
• Cheaper peers exist, such as AVDE at 0.23% and TACN at 0.00% net of a waiver through January 30, 2027; AVNM's fee covers a broader multi-fund stack.
• Value and small-cap tilts plus the emerging-markets weight mean results can diverge from a plain cap-weighted international index in either direction.sec.gov

• TACN Launched December 10, 2025, so the track record is short and assets are still small. Trading is thin, which can mean wider spreads than at big index rivals.
• The zero fee is contractual, not permanent: it runs through January 30, 2027, after which the 0.20% gross expense ratio kicks in.troweprice.com
• Low tracking error is the design, not a bug. The active tilt is deliberately modest, so the portfolio is built to hug EAFE rather than stray from it.sec.gov

Full AVNM profile⁠

Full TACN profile⁠