BCIL vs TACN: Grades, Fees and Holdings Compared

Bancreek International Large Cap ETF

BCILDNYSE Arca

T. Rowe Price Active Core International Equity ETF

TACNANYSE Arca

Overlap

4.5%by weight

Expense ratio

TACN −0.80pt a year

BCIL0.80%TACN0.00%

Avg volume · 30D

BCIL 1.6×the volume

BCIL4.23KTACN2.59K

BCIL vs TACN Performance

Dec 31, 2025 – Oct 30, 2026

+1.3%BCIL+10.5%TACN

Expense ratio: BCIL 0.80%; TACN 0.00%, better
Fund size: BCIL $90M; TACN $24M
1Y total return: BCIL −0.2%; TACN No data
Yield (12M): BCIL 0.74%; TACN No data
Holdings: BCIL 31; TACN 508
Avg volume (30D): BCIL 4.23K sh, better; TACN 2.59K sh
NAV per share: BCIL $28.85; TACN $28.20
52W range

ETF.net Grade

Pillar letters and Scores for BCIL, TACN, with each pillar’s weight
Pillar	BCIL	TACN
Cost30% weight	F19	A100Higher
Mission25% weight	D30	Not scored
Risk15% weight	D30	A70Higher
Tradability15% weight	D32	C46Higher
Holdings10% weight	D34	A82Higher
Durability5% weight	C40Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. BCIL and TACN are both graded against the same 55 International Active Equity funds, so their Grades compare head to head.

International Active Equity⁠

Category · 55 funds

See all 55 ›

TACN ranks 5th and BCIL 51st of 55 funds in the International Active Equity Category.

Rank 5AENHIiShares Enhanced International Active ETFScore 76
Rank 5ATACNT. Rowe Price Active Core International Equity ETFScore 76
Rank 7AAVNMAvantis All International Markets Equity ETFScore 72
Rank 49DTXUGThornburg International Growth Fund ETFScore 28
Rank 51DBCILBancreek International Large Cap ETFScore 27
Rank 52DDUKXOcean Park International ETFScore 26

Our read on each fund

ETF.net Research

BCILDBancreek International Large Cap ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

BCIL A boutique quant shop's concentrated take on international large caps: screen the developed world for structurally advantaged business models, then own a few dozen of them. Active, focused, and priced like the specialist product it is.

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

BCIL The Fund seeks long-term capital appreciation.

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

Why people hold it

BCIL Genuinely active and genuinely concentrated: a few dozen non-US large caps, not a sprawling index tracker wearing an active label.bancreeketfs.com
Stock picking runs on a quantitative framework hunting companies with structurally advantaged business models, so the selection process is systematic rather than gut feel.bancreeketfs.com bancreeketfs.com 2
Plain mandate, plainly stated: developed-market equity outside the US, seeking long-term capital appreciation, with distributions on a quarterly schedule.

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.gov troweprice.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.gov troweprice.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

BCIL 0.80% a year sits above the typical active international fund and well above systematic rivals like AVDE (0.23%) and DFIC (0.22%). You are paying for the model.
Launched in 2024, so there is no track record across a full market cycle. The fund also leans heavily on proprietary models and third-party data you cannot inspect.bancreeketfs.com
It is small and lightly traded next to the index giants in its category, so bid-ask spreads can add cost beyond the headline fee.

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 BCIL profile⁠

Full TACN profile⁠

BCIL vs TACN Holdings

How BCIL and TACN differ

Overlap by weight

4.5%

Shared holdings make up 43.1% of BCIL and 4.5% of TACN.

Level by level

Holdings13 in both4.5%
Countryby domicile59.8%
Asset classEquity100%

Sector

No Sector split for TACN.

Country, concentration and asset class

Country by domicile

Country weights in BCIL and TACN, widest gap first
Country	More in BCILMore in TACN	BCIL	TACN
South Korea	BCIL +12.2 points	12.2%	0.0%
Canada	BCIL +11.7 points	11.7%	0.0%
Japan	TACN +7.7 points	16.8%	24.5%
France	TACN +6.3 points	2.8%	9.1%
Netherlands	TACN +5.9 points	0.0%	5.9%
Switzerland	TACN +5.4 points	4.1%	9.5%
Germany	TACN +5.2 points	3.0%	8.2%
Belgium	BCIL +4.2 points	5.0%	0.8%
Other countries (19)	BCIL +2.3 points	44.3%	42.0%

Outside the US: BCIL 84% developed, 16% emerging. TACN 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

BCIL40.6%
TACN14.6%

Securities held

BCIL30
TACN498

Asset class

BCIL: Equity
TACN: Equity

Holdings

Only in BCIL17
In both13
Only in TACN485

Only in BCIL

17 securities, 56.4% of BCIL by weight

Sk Hynix Inc4.82%
Italgas Spa3.92%
TELE2 Ab-B Shs3.85%
Sk Square Co Ltd3.73%
Codan Ltd3.70%
Samyang Foods Co Ltd3.62%
Menora Mivtachim Holdings Lt3.60%
Kandenko Co Ltd3.05%
Hochtief AG3.01%
Quebecor Inc -Cl B2.99%
Banca Generali Spa2.98%
Cgi Inc2.95%
Dollarama Inc2.94%
Singapore Exchange Ltd2.88%
Games Workshop Group PLC2.81%
Lundin Gold Inc2.80%
Gaztransport Et Techniga SA2.76%

Only in TACN

485 securities, 95.2% of TACN by weight

Asml Holding NV Common Stock EUR.093.33%
Roche Holding AG Common Stock CHF.0011.55%
Mitsubishi Ufj Financial Gro Common Stock1.43%
Shell PLC Common Stock EUR.071.30%
Hsbc Holdings PLC Common Stock USD.51.26%
Recruit Holdings Co Ltd Common Stock1.18%
Sony Group Corp Common Stock1.12%
Astrazeneca PLC Common Stock USD.251.08%
Totalenergies SE Common Stock EUR2.51.06%
Allianz SE Reg Common Stock1.06%
Sumitomo Mitsui Financial Gr Common Stock1.05%
Nestle SA Reg Common Stock CHF.11.02%
Siemens AG Reg Common Stock0.99%
Sap SE Common Stock0.95%
Banco Bilbao Vizcaya Argenta Common Stock EUR.490.95%
Novo Nordisk A/S B Common Stock DKK.10.88%
Bhp Group Ltd Common Stock0.87%
Unilever PLC Common Stock GBP.000311110.86%
Unicredit Spa Common Stock0.85%
Ubs Group AG Reg Common Stock USD.10.84%
Anz Group Holdings Ltd Common Stock0.84%
Airbus SE Common Stock EUR1.00.75%
Dbs Group Holdings Ltd Common Stock0.74%
Commonwealth Bank of Austral Common Stock0.72%
Toyota Motor Corp Common Stock0.71%
Enel Spa Common Stock EUR1.00.70%
Siemens Energy AG Common Stock0.70%
Deutsche Telekom AG Reg Common Stock0.67%
Sumitomo Corp Common Stock0.66%
Bnp Paribas Common Stock EUR2.00.65%
Hitachi Ltd Common Stock0.64%
Ing Groep NV Common Stock EUR.010.64%
Takeda Pharmaceutical Co Ltd Common Stock0.63%
Safran SA Common Stock EUR.20.63%
Banco Santander SA Common Stock EUR.50.62%
Kddi Corp Common Stock0.60%
Schneider Electric SE Common Stock EUR4.00.59%
Tokyo Electron Ltd Common Stock0.58%
Vinci SA Common Stock EUR2.50.58%
Iberdrola SA Common Stock EUR.750.57%
Equinor Asa Common Stock NOK2.50.57%
Barclays PLC Common Stock GBP.250.55%
Abb Ltd Reg Common Stock CHF.120.55%
Air Liquide SA Common Stock EUR5.50.55%
Bae Systems PLC Common Stock GBP.0250.53%
Asahi Group Holdings Ltd Common Stock0.51%
Sonova Holding AG Reg Common Stock CHF.050.51%
Ms+ad Insurance Group Holdin Common Stock0.50%
Renesas Electronics Corp Common Stock0.50%
Suncorp Group Ltd Common Stock0.50%

Weight gaps

All 13 Holdings in both funds, largest gap first.

Holding weights in BCIL and TACN, widest gap first
Holding	More in BCILMore in TACN	BCIL	TACN
Ucb SA	BCIL +4.86 points	4.95%	0.09%
Asics Corp	BCIL +3.66 points	3.70%	0.04%
Advantest Corp Ord	BCIL +3.39 points	4.26%	0.87%
Indra Sistemas SA	BCIL +3.02 points	3.04%	0.02%
Next PLCNXT.L	BCIL +2.89 points	2.95%	0.06%
Fujikura Ltd	BCIL +2.86 points	2.93%	0.07%
Diploma PLCDPLM.L	BCIL +2.81 points	2.85%	0.04%
Sigma Healthcare Ltd	BCIL +2.79 points	2.82%	0.03%
Novartis Ag-Reg	BCIL +2.77 points	4.06%	1.29%
Sumitomo Electric Industries Ltd	BCIL +2.75 points	2.82%	0.07%
Relx PLCREL.L	BCIL +2.41 points	2.91%	0.50%
British American Tobacco PLCBATS.L	BCIL +2.40 points	2.98%	0.58%
Rolls-Royce Holdings PLCRR.L	BCIL +2.00 points	2.83%	0.83%

All 30 BCIL holdings⁠All TACN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BCIL vs TACN Cost

Overpaying BCIL vs TACN

$15,346

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BCIL 0.80%
$15,346
TACN 0.00%
$0

Amount$10,000

Years30 years

Cost over time

BCIL 0.80%
TACN 0.00%
Overpaying

Year by year

Year	BCIL	TACN	Overpaying
10	$1,422	$0	$1,422
20	$5,393	$0	$5,393
30	$15,346	$0	$15,346

Expense ratio

0.80%BCIL
0.00%TACN, cheaper

TACN0.00%BCIL0.80%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

TACN cheapest of 55 funds

BCIL 43rd cheapest of 55 funds

BCIL vs TACN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BCIL 0.74%; TACN No data
Payout (12M): BCIL $0.21; TACN None
Last payment: BCIL $0.04; TACN No data
Ex-dividend: BCIL Sep 28, 2026; TACN No data
Paid on: BCIL Sep 30, 2026; TACN No data
Frequency: BCIL Quarterly; TACN No data

Distribution history

Per share, 2024 to 2026, same scale for both

BCILQuarterly · 9 paymentsAll BCIL payments⁠

TACNAll TACN payments⁠

No distribution history available.

BCIL vs TACN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BCIL 15.4%since Apr 2024TACN No data
Return per unit of riskSharpe ratio, 3 years: BCIL 0.14since Apr 2024TACN No data
Worst fallMax drawdown, 5 years: BCIL −16.2%since Mar 2024TACN No data
Market sensitivityBeta, 5 years: BCIL 0.79TACN 0.65; Market = 1

BCIL and TACN in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026TACN

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BCIL vs TACN

In short

Stated mandate

Why people hold it

Worth knowing

How BCIL and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BCIL

Only in TACN

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two enhanced ETFs to absorb its international core funds

How BCIL and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BCIL

Only in TACN

Weight gaps