ENHI vs TACN: Grades, Fees and Holdings Compared

iShares Enhanced International Active ETF

ENHIANasdaq

T. Rowe Price Active Core International Equity ETF

TACNANYSE Arca

Overlap

61.1%by weight

Expense ratio

TACN −0.27pt a year

ENHI0.27%TACN0.00%

Avg volume · 30D

ENHI 2.4×the volume

ENHI6.12KTACN2.59K

ENHI vs TACN Performance

Jul 31, 2026 – Nov 2, 2026

−2.2%ENHI−1.2%TACN

Expense ratio: ENHI 0.27%; TACN 0.00%, better
Fund size: ENHI $21M; TACN $24M
Holdings: ENHI 594; TACN 509
Avg volume (30D): ENHI 6.12K sh, better; TACN 2.59K sh
NAV per share: ENHI $26.49; TACN $28.20
52W range

ETF.net Grade

Pillar letters and Scores for ENHI, TACN, with each pillar’s weight
Pillar	ENHI	TACN
Cost30% weight	A94	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	A72Higher	A70
Tradability15% weight	C51Higher	C46
Holdings10% weight	A83Higher	A82
Durability5% weight	C46Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. ENHI 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 ›

ENHI ranks 5th and TACN 5th of 55 funds in the International Active Equity Category.

Rank 4AAVDSAvantis International Small Cap Equity ETFScore 78
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

Our read on each fund

ETF.net Research

ENHIAiShares Enhanced International Active ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

ENHI BlackRock's systematic desk pointed at developed international stocks: roughly 600 names selected by models, benchmarked to MSCI EAFE, at 0.27% a year. Index-fund pricing, active ambitions.

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

ENHI The fund seeks to outperform the MSCI EAFE Index.

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

Why people hold it

ENHI 0.27% a year is less than half the typical active international fund, and right in the neighborhood of systematic rivals AVDE (0.23%) and JIRE (0.24%).
Rules and data do the picking, not hunch. Roughly 600 developed-market holdings means it behaves like a core EAFE-shaped allocation rather than a concentrated bet.blackrock.com
The mandate is explicit: outperform the MSCI EAFE Index. No style drift to guess at, and a public yardstick to judge it against.sec.gov
Stands among the stronger implementations in a crowded active international field, on cost and portfolio breadth.

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

ENHI Launched in 2026, so the models have a short live record. An active mandate can trail MSCI EAFE as easily as beat it.
New funds start small and lightly traded, which shows up as wider bid-ask spreads until volume builds.
Cash comes back once or twice a year, not monthly.

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 ENHI profile⁠

Full TACN profile⁠

ENHI vs TACN Holdings

How ENHI and TACN differ

Overlap by weight

61.1%

Shared holdings make up 81.8% of ENHI and 79.4% of TACN.

Level by level

Holdings373 in both61.1%
Countryby domicile94.8%
Asset classEquity100%

Sector

No Sector split for ENHI and TACN.

Country, concentration and asset class

Country by domicile

Country weights in ENHI and TACN, widest gap first
Country	More in ENHIMore in TACN	ENHI	TACN
United States	TACN +1.1 points	0.0%	1.1%
United Kingdom	ENHI +1.0 points	15.6%	14.6%
Sweden	ENHI +1.0 points	3.3%	2.3%
Norway	TACN +0.8 points	0.0%	0.8%
Japan	ENHI +0.7 points	25.2%	24.5%
Australia	TACN +0.7 points	6.2%	6.9%
Germany	ENHI +0.6 points	8.8%	8.2%
Ireland	TACN +0.6 points	0.0%	0.6%
Other countries (17)	TACN +0.1 points	40.9%	41.0%

Outside the US: ENHI 99% developed, 1% emerging. TACN 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

ENHI15.5%
TACN14.6%

Securities held

ENHI580
TACN499

Asset class

ENHI: Equity
TACN: Equity

Holdings

Only in ENHI207
In both373
Only in TACN126

Only in ENHI

207 securities, 17.8% of ENHI by weight

Allianz0.94%
Totalenergies0.91%
Banco Santander0.87%
Banco Bilbao Vizcaya Argentaria0.62%
Novo Nordisk Class B0.61%
Bnp Paribas SA0.52%
Compagnie Financiere Richemont SA0.50%
Investor Class B0.47%
Loreal SA0.45%
Westpac Banking Corporation0.34%
Anz Group Holdings Ltd0.32%
Atlas Copco Class A0.32%
Swedbank0.26%
Argenx0.26%
Koninklijke Ahold Delhaize0.25%
Nordea Bank0.24%
Hermes International0.24%
Volvo Class B0.23%
Assicurazioni Generali0.22%
Telefonica SA0.20%
Smc (Japan) Corp0.19%
Ferrari0.18%
Rio Tinto0.18%
Assa Abloy B0.17%
Repsol0.17%
Industria De Diseno Textil SA0.17%
Ericsson B0.16%
Smiths Group PLC0.16%
Michelin0.16%
Atlas Copco Class B0.16%
Skf B0.15%
Disco Corp0.15%
Pernod Ricard SA0.15%
Aviva PLC0.14%
Skandinaviska Enskilda Banken0.13%
Alcon AG0.13%
Shimano Inc0.12%
Techtronic Industries0.12%
Hexagon Class B0.12%
Lasertec0.11%
Bank of Ireland Group PLC0.11%
TELE2 B0.10%
Ck Hutchison Holdings0.10%
Sun Hung Kai Properties Ltd0.10%
Medibank Private0.10%
Banca Mediolanum0.10%
Smith and Nephew PLC0.09%
Clp Holdings0.09%
Meridian Energy Ltd0.09%
Technip Energies0.09%

Only in TACN

126 securities, 20.3% of TACN by weight

Totalenergies SE Common Stock EUR2.51.08%
Allianz SE Reg Common Stock1.06%
Banco Bilbao Vizcaya Argenta Common Stock EUR.490.91%
Novo Nordisk A/S B Common Stock DKK.10.91%
Anz Group Holdings Ltd Common Stock0.84%
Bnp Paribas Common Stock EUR2.00.64%
Banco Santander SA Common Stock EUR.50.60%
Asahi Group Holdings Ltd Common Stock0.52%
Eurofins Scientific Common Stock EUR.10.47%
Cie Financiere Richemo A Reg Common Stock CHF1.00.43%
L Oreal Common Stock EUR.20.42%
Jeronimo Martins Common Stock EUR1.00.42%
Atlas Copco Ab A Shs Common Stock SEK.160.42%
Ferrari NV Common Stock EUR.010.38%
Generali Common Stock0.34%
Michelin (Cgde) Common Stock EUR.50.33%
SOUTH32 Ltd Common Stock0.32%
Techtronic Industries Co Ltd Common Stock0.32%
Koninklijke Ahold Delhaize N Common Stock EUR.010.31%
Westpac Banking Corp Common Stock0.31%
Spotify Technology SA Common Stock EUR.0006250.31%
Upm Kymmene Oyj Common Stock0.30%
Investor Ab B Shs Common Stock SEK6.250.28%
Ck Hutchison Holdings Ltd Common Stock HKD1.00.26%
Demant A/S Common Stock DKK.20.26%
Industrivarden Ab C Shs Common Stock SEK2.50.25%
Bawag Group AG Common Stock0.25%
Ryanair Holdings PLC Common Stock EUR.0060.24%
Ems Chemie Holding AG Reg Common Stock CHF.010.23%
Cvc Capital Partners PLC Common Stock0.23%
Millicom Intl Cellular S.a. Common Stock USD1.50.21%
Avolta AG Common Stock CHF5.00.21%
Fukuoka Financial Group Inc Common Stock0.20%
Qantas Airways Ltd Common Stock0.19%
Argenx SE Common Stock EUR.10.18%
Isetan Mitsukoshi Holdings L Common Stock0.17%
Rio Tinto Ltd Common Stock0.16%
Galaxy Entertainment Group L Common Stock0.15%
Industria De Diseno Textil Common Stock EUR.030.15%
Oji Holdings Corp Common Stock0.15%
Spie SA Common Stock EUR.470.14%
Hong Kong Exchanges & Clear Common Stock0.14%
Nordea Bank Abp Common Stock EUR1.00.13%
Rheinmetall AG Common Stock0.13%
Volvo Ab B Shs Common Stock SEK1.260.12%
Taiheiyo Cement Corp Common Stock0.11%
Teva Pharmaceutical Ind Ltd Common Stock ILS.10.11%
Assa Abloy Ab B Common Stock SEK1.00.11%
Hermes International Common Stock0.10%
Swiss Life Holding AG Reg Common Stock CHF.10.10%

Weight gaps

The 100 widest of 373 Holdings in both funds.

Holding weights in ENHI and TACN, widest gap first
Holding	More in ENHIMore in TACN	ENHI	TACN
Kddi	TACN +0.59 points	0.03%	0.62%
Sonova Holding AG	TACN +0.49 points	0.03%	0.52%
Intercontinental Hotels Group PLCIHG.L	TACN +0.45 points	0.04%	0.49%
Recruit Holdings Ltd	TACN +0.42 points	0.80%	1.22%
Suncorp Group	TACN +0.40 points	0.10%	0.50%
Sumitomo	TACN +0.40 points	0.23%	0.63%
MS&AD Insurance Group Holdings	TACN +0.38 points	0.13%	0.51%
ShellSHEL.L	ENHI +0.38 points	1.69%	1.31%
Intesa Sanpaolo	ENHI +0.37 points	0.57%	0.20%
Hannover Rueck	TACN +0.37 points	0.12%	0.49%
Takeda Pharmaceutical	TACN +0.36 points	0.30%	0.66%
Komatsu	TACN +0.33 points	0.17%	0.50%
Equinor	TACN +0.33 points	0.26%	0.59%
BunzlBNZL.L	TACN +0.32 points	0.02%	0.34%
Renesas Electronics Corp	TACN +0.32 points	0.16%	0.48%
Sumitomo Mitsui Financial Group	TACN +0.30 points	0.74%	1.04%
Astrazeneca PLCAZN.L	ENHI +0.30 points	1.46%	1.16%
Asml Holding	TACN +0.30 points	2.86%	3.16%
Mitsubishi Chemical Group	TACN +0.30 points	<0.01%	0.30%
Unicredit	TACN +0.29 points	0.55%	0.84%
Caixabank SA	TACN +0.28 points	0.13%	0.41%
Merck	TACN +0.28 points	0.14%	0.42%
Nitori Holdings	TACN +0.28 points	0.04%	0.32%
Siemens N AG	ENHI +0.28 points	1.24%	0.96%
Thales SA	TACN +0.28 points	0.13%	0.41%
Ageas	TACN +0.27 points	0.01%	0.28%
Vinci SA	TACN +0.26 points	0.32%	0.58%
Keyence	ENHI +0.27 points	0.47%	0.20%
Evonik Industries AG	TACN +0.25 points	0.02%	0.27%
Imperial Brands PLCIMB.L	TACN +0.26 points	0.15%	0.41%
Engie SA	ENHI +0.25 points	0.36%	0.11%
Sony Group	TACN +0.25 points	0.87%	1.12%
3I Group Fund PLCIII.L	TACN +0.24 points	0.20%	0.44%
Lair Liquide Societe Anonyme Pour	TACN +0.23 points	0.33%	0.56%
Nestle SA	ENHI +0.24 points	1.29%	1.05%
Scentre Group	TACN +0.23 points	0.03%	0.26%
Inpex	TACN +0.23 points	0.05%	0.28%
Klepierre Reit SA	TACN +0.23 points	0.02%	0.25%
Mitsui	ENHI +0.23 points	0.48%	0.25%
Amadeus It Group	TACN +0.23 points	0.21%	0.44%
Nippon Yusen	TACN +0.22 points	0.14%	0.36%
Sap	ENHI +0.22 points	1.19%	0.97%
Axa SA	ENHI +0.22 points	0.51%	0.29%
Tokio Marine Holdings	ENHI +0.22 points	0.47%	0.25%
GlaxosmithklineGSK.L	ENHI +0.21 points	0.56%	0.35%
Endesa SA	TACN +0.21 points	0.07%	0.28%
Ing Groep	TACN +0.22 points	0.41%	0.63%
Oversea-Chinese Banking	ENHI +0.22 points	0.39%	0.17%
Airbus Group	TACN +0.21 points	0.53%	0.74%
Commonwealth Bank of Australia	ENHI +0.21 points	0.93%	0.72%
Mizuho Financial Group	ENHI +0.22 points	0.56%	0.34%
Unilever PLCULVR.L	TACN +0.21 points	0.67%	0.88%
Japan Tobacco	ENHI +0.20 points	0.32%	0.12%
Rolls-Royce Holdings PLCRR.L	TACN +0.21 points	0.60%	0.81%
Bp PLCBP.L	ENHI +0.20 points	0.60%	0.40%
Endeavour MiningEDV.L	TACN +0.21 points	<0.01%	0.20%
Itochu	ENHI +0.20 points	0.40%	0.20%
Dbs Group Holdings Ltd	TACN +0.20 points	0.54%	0.74%
Poste Italiane	TACN +0.20 points	0.05%	0.25%
Macquarie Group Ltd Def	ENHI +0.20 points	0.45%	0.25%
Terna Rete Elettrica Nazionale	ENHI +0.19 points	0.22%	0.03%
Experian PLCEXPN.L	ENHI +0.20 points	0.29%	0.09%
Mizrahi Tefahot Bank Ltd	ENHI +0.19 points	0.22%	0.03%
Schneider Electric	ENHI +0.19 points	0.77%	0.58%
Anheuser-Busch Inbev SA	ENHI +0.20 points	0.46%	0.26%
Deutsche Telekom N AG	TACN +0.19 points	0.50%	0.69%
Mitsubishi Heavy Industries	ENHI +0.19 points	0.37%	0.18%
Ipsen SA	TACN +0.19 points	0.02%	0.21%
Hkt Trust and Hkt Units	TACN +0.19 points	0.01%	0.20%
Var Energi	TACN +0.19 points	0.03%	0.22%
Israel Discount Bank Ltd	ENHI +0.19 points	0.24%	0.05%
Eni	ENHI +0.18 points	0.32%	0.14%
United Overseas Bank	TACN +0.18 points	0.18%	0.36%
Barclays PLCBARC.L	TACN +0.17 points	0.36%	0.53%
Mitsui Fudosan	TACN +0.18 points	0.09%	0.27%
Hsbc Holdings PLCHSBA.L	ENHI +0.17 points	1.43%	1.26%
London Stock Exchange Group PLCLSEG.L	ENHI +0.18 points	0.31%	0.13%
Pearson PLCPSON.L	TACN +0.17 points	0.10%	0.27%
Safran SA	TACN +0.17 points	0.45%	0.62%
Panasonic Holdings	ENHI +0.17 points	0.31%	0.14%
Brother Industries	TACN +0.17 points	0.01%	0.18%
Otsuka Corp	TACN +0.17 points	0.13%	0.30%
Ucb SA	ENHI +0.17 points	0.26%	0.09%
Vestas Wind Systems	TACN +0.17 points	0.12%	0.29%
Societe Generale SA	TACN +0.16 points	0.19%	0.35%
Erste Group Bank AG	ENHI +0.16 points	0.25%	0.09%
Tower Semiconductor	TACN +0.16 points	0.10%	0.26%
Abb Ltd	ENHI +0.16 points	0.70%	0.54%
Wolters Kluwer	ENHI +0.15 points	0.23%	0.08%
Mitsubishi Ufj Financial Group	TACN +0.15 points	1.27%	1.42%
Iberdrola	ENHI +0.15 points	0.73%	0.58%
Enel	TACN +0.16 points	0.55%	0.71%
Holcim Ltd AG	ENHI +0.16 points	0.26%	0.10%
Orsted A/S	TACN +0.16 points	0.05%	0.21%
Coles Group Ltd	TACN +0.15 points	0.07%	0.22%
Standard Chartered PLCSTAN.L	TACN +0.16 points	0.21%	0.37%
Natwest Group PLCNWG.L	ENHI +0.15 points	0.29%	0.14%
Zurich Insurance Group AG	ENHI +0.15 points	0.52%	0.37%
Dnb Bank	ENHI +0.16 points	0.23%	0.07%
Deutsche Boerse AG	ENHI +0.15 points	0.31%	0.16%

All 580 ENHI 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.

ENHI vs TACN Cost

Overpaying ENHI vs TACN

$5,557

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

ENHI 0.27%
$5,557
TACN 0.00%
$0

Amount$10,000

Years30 years

Cost over time

ENHI 0.27%
TACN 0.00%
Overpaying

Year by year

Year	ENHI	TACN	Overpaying
10	$491	$0	$491
20	$1,907	$0	$1,907
30	$5,557	$0	$5,557

Expense ratio

0.27%ENHI
0.00%TACN, cheaper

TACN0.00%ENHI0.27%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

TACN cheapest of 55 funds

ENHI 4th cheapest of 55 funds

ENHI vs TACN Dividends

Last 12 months to Nov 2, 2026

Payout (12M): ENHI No data; TACN None
Last payment: ENHI $0.32; TACN No data
Ex-dividend: ENHI Jun 15, 2026; TACN No data
Paid on: ENHI Jun 18, 2026; TACN No data
Frequency: ENHI Irregular; TACN No data

Distribution history

Per share, 2026, same scale for both

ENHIIrregular · 1 paymentAll ENHI payments⁠

TACNAll TACN payments⁠

No distribution history available.

ENHI vs TACN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years: ENHI 0.57TACN 0.65; Market = 1

ENHI and TACN in the news

All news⁠

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

Popular comparisons

ENHIAvsAVDEA
iShares Enhanced International Active ETF · Avantis International Equity ETF
Expense ratio
0.27% · 0.23%
Category
TACNAvsAVDEA
T. Rowe Price Active Core International Equity ETF · Avantis International Equity ETF
Expense ratio
0.00% · 0.23%
Category
ENHIAvsDFICA
iShares Enhanced International Active ETF · Dimensional International Core Equity 2 ETF
Expense ratio
0.27% · 0.22%
Category
TACNAvsDFICA
T. Rowe Price Active Core International Equity ETF · Dimensional International Core Equity 2 ETF
Expense ratio
0.00% · 0.22%
Category
ENHIAvsJIREA
iShares Enhanced International Active ETF · JPMorgan International Research Enhanced Equity ETF
Expense ratio
0.27% · 0.29%
Category
TACNAvsJIREA
T. Rowe Price Active Core International Equity ETF · JPMorgan International Research Enhanced Equity ETF
Expense ratio
0.00% · 0.29%
Category

ENHI vs TACN

In short

Stated mandate

Why people hold it

Worth knowing

How ENHI and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ENHI

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 ENHI and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ENHI

Only in TACN

Weight gaps