IDEQ vs TACN: Grades, Fees and Holdings Compared

Lazard International Dynamic Equity ETF

IDEQBNYSE Arca

T. Rowe Price Active Core International Equity ETF

TACNANYSE Arca

Overlap

21.0%by weight

Expense ratio

TACN −0.40pt a year

IDEQ0.40%TACN0.00%

Avg volume · 30D

IDEQ 148.5×the volume

IDEQ385KTACN2.59K

IDEQ vs TACN Performance

Dec 31, 2025 – Oct 30, 2026

+11.0%IDEQ+10.5%TACN

Expense ratio: IDEQ 0.40%; TACN 0.00%, better
Fund size: IDEQ $2.1B; TACN $24M
1Y total return: IDEQ +17.2%; TACN No data
Yield (12M): IDEQ 1.39%; TACN No data
Holdings: IDEQ 265; TACN 508
Avg volume (30D): IDEQ 385K sh, better; TACN 2.59K sh
NAV per share: IDEQ $33.90; TACN $28.20
52W range

ETF.net Grade

Pillar letters and Scores for IDEQ, TACN, with each pillar’s weight
Pillar	IDEQ	TACN
Cost30% weight	A76	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C51	A70Higher
Tradability15% weight	B62Higher	C46
Holdings10% weight	B68	A82Higher
Durability5% weight	A81Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. IDEQ 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 IDEQ 10th 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 10BCOROiShares International Country Rotation Active ETFScore 67
Rank 10BIDEQLazard International Dynamic Equity ETFScore 67
Rank 10BSEIESEI Select International Equity ETFScore 67

Our read on each fund

ETF.net Research

IDEQBLazard International Dynamic Equity ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

IDEQ An institutional quant strategy that finally opened its doors. Lazard's International Equity Advantage mutual fund, running since 2015, became this ETF in 2025: multi-factor stock picking outside the US, measured against MSCI ACWI ex USA, at 0.40% a year.

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

IDEQ The Portfolio seeks long-term capital appreciation. It normally invests at least 80% of its net assets, plus borrowings for investment purposes, in non-U.S. equity securities.

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

Why people hold it

IDEQ Not a fresh idea in a new wrapper. Lazard's quantitative team has run this portfolio since 2015 as a mutual fund, converting it into an ETF in 2025.lazard.com
0.40% a year sits under the 0.60% typical of active international equity funds, one reason it ranks among the stronger implementations in that group.
Four signals, not one. The proprietary model ranks stocks on value, growth, quality and momentum, then shapes risk exposures against MSCI ACWI ex USA.
The prospectus commits at least 80% of net assets to non-US equities, so it stays a dedicated overseas sleeve rather than drifting back toward home.

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

IDEQ Cheap for active, not cheap outright: systematic rivals AVDE, DFIC and JIRE all price near a quarter of a percent.
MSCI ACWI ex USA is the yardstick, not the blueprint. The model chooses and weights holdings itself, so the portfolio can sit far from the index.
Lazard discloses that the strategy can hold a large share of assets in a single country, Japan being its own example, so one market's politics can carry weight.lazard.com

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 IDEQ profile⁠

Full TACN profile⁠

IDEQ vs TACN Holdings

How IDEQ and TACN differ

Overlap by weight

21.0%

Shared holdings make up 42.9% of IDEQ and 29.6% of TACN.

Level by level

Holdings74 in both21.0%
Countryby domicile59.9%
Asset classEquity100%

Sector

No Sector split for IDEQ and TACN.

Country, concentration and asset class

Country by domicile

Country weights in IDEQ and TACN, widest gap first
Country	More in IDEQMore in TACN	IDEQ	TACN
Japan	TACN +9.7 points	14.8%	24.5%
Taiwan	IDEQ +9.5 points	9.5%	0.0%
Canada	IDEQ +8.0 points	8.0%	0.0%
South Korea	IDEQ +6.8 points	6.8%	0.0%
China	IDEQ +6.7 points	6.9%	0.2%
Switzerland	TACN +5.0 points	4.5%	9.5%
United Kingdom	TACN +4.6 points	10.0%	14.6%
India	IDEQ +3.6 points	3.6%	0.0%
Other countries (28)	TACN +15.3 points	35.9%	51.2%

Outside the US: IDEQ 68% developed, 32% emerging. TACN 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

IDEQ23.6%
TACN14.6%

Securities held

IDEQ253
TACN498

Asset class

IDEQ: Equity
TACN: Equity

Holdings

Only in IDEQ179
In both74
Only in TACN424

Only in IDEQ

179 securities, 58.8% of IDEQ by weight

Taiwan Semiconductor Manufac5.14%
Samsung Electronics Co Ltd3.06%
Bnp Paribas1.73%
Yuan Renminbi Offshore1.70%
Petrobras Petroleo Bras Pr Preference1.57%
Banco Santander SA1.46%
Loblaw Companies Ltd1.46%
Sk Hynix Inc1.43%
Manulife Financial Corp1.20%
Ericsson (Lm) Tel Sp Adr1.19%
Suncor Energy Inc1.06%
Lazard Govt Mny Mmkt Ins Lzixx0.92%
Shopify Inc Class A0.88%
Tencent Holdings Ltd0.84%
Koninklijke Ahold Delhaize N0.80%
Mediatek Inc0.67%
Barrick Mining Corp0.66%
Kinross Gold Corp0.61%
Hydro One Ltd0.58%
State Bank of Indi Gdr Reg’s Gdr0.53%
Perseus Mining Ltd0.53%
Novo Nordisk A/S B0.53%
Ferrari NV0.51%
Saudi Energy Co0.51%
Cathay Pacific Airways0.46%
Ia Financial Corp Inc0.46%
Union Bank of India0.45%
Royal Bank of Canada0.45%
First Resources Ltd0.43%
Knorr Bremse AG0.42%
Kyuden Holdings Inc0.41%
Weichai Power Co Ltd H0.40%
Yunnan Aluminium Co Ltd A0.39%
Sumitomo Chemical Co Ltd0.38%
Delta Electronics Inc0.37%
Beone Medicines Ltd0.36%
Alibaba Group Holding Ltd0.36%
Huaxia Bank Co Ltd A0.36%
Gold Fields Ltd Spons Adr0.34%
Joshin Corp0.34%
Bank of Maharashtra0.33%
Nordex SE0.33%
Life Insurance Corporation0.32%
Tupras Turkiye Petrol Rafine0.32%
Alpha Bank SA0.32%
Intl Container Term Svcs Inc0.31%
Korea Electric Power Corp0.31%
Anglogold Ashanti PLC0.30%
West African Resources Ltd0.30%
H World Group Ltd Adr0.30%

Only in TACN

424 securities, 70.2% of TACN by weight

Mitsubishi Ufj Financial Gro Common Stock1.43%
Shell PLC Common Stock EUR.071.30%
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%
Unilever PLC Common Stock GBP.000311110.86%
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%
Deutsche Telekom AG Reg Common Stock0.67%
Sumitomo Corp Common Stock0.66%
Bnp Paribas Common Stock EUR2.00.65%
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%
British American Tobacco PLC Common Stock0.58%
Iberdrola SA Common Stock EUR.750.57%
Air Liquide SA Common Stock EUR5.50.55%
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%
Relx PLC Common Stock GBP.001443970.50%
Komatsu Ltd Common Stock0.49%
Intercontinental Hotels Grou Common Stock GBP.20852130.49%
Murata Manufacturing Co Ltd Common Stock0.48%
Hannover Rueck SE Common Stock0.48%
Eurofins Scientific Common Stock EUR.10.46%
Tesco PLC Common Stock GBP.06333330.46%
Dhl AG Common Stock0.45%
Glencore PLC Common Stock USD.010.45%
Lvmh Moet Hennessy Louis Vui Common Stock EUR.30.45%
Aia Group Ltd Common Stock0.44%
Amadeus It Group SA Common Stock EUR.010.44%
3I Group PLC Common Stock GBP.7386360.44%
Atlas Copco Ab A Shs Common Stock SEK.160.43%
Merck Kgaa Common Stock0.42%
Cie Financiere Richemo A Reg Common Stock CHF1.00.42%

Weight gaps

All 74 Holdings in both funds, largest gap first.

Holding weights in IDEQ and TACN, widest gap first
Holding	More in IDEQMore in TACN	IDEQ	TACN
Japan Post Holdings Co Ltd	IDEQ +2.16 points	2.23%	0.07%
Natwest Group PLCNWG.L	IDEQ +1.29 points	1.44%	0.15%
Legal & General Group PLCLGEN.L	IDEQ +1.18 points	1.25%	0.07%
Gea Group AG	IDEQ +1.13 points	1.17%	0.04%
Vinci SA	IDEQ +1.10 points	1.68%	0.58%
Ntt Inc	IDEQ +0.96 points	1.03%	0.07%
Gsk PLCGSK.L	IDEQ +0.93 points	1.27%	0.34%
Roche Holding AG	IDEQ +0.90 points	2.45%	1.55%
Hsbc Holdings PLCHSBA.L	TACN +0.87 points	0.39%	1.26%
Novartis AG Reg	TACN +0.83 points	0.46%	1.29%
Bandai Namco Holdings Inc	IDEQ +0.81 points	0.84%	0.03%
Canon Inc	IDEQ +0.79 points	0.85%	0.06%
Asml Holding NV	TACN +0.76 points	2.57%	3.33%
Unicredit Spa	TACN +0.71 points	0.14%	0.85%
Boc Hong Kong Holdings Ltd	IDEQ +0.71 points	0.88%	0.17%
Ipsen	IDEQ +0.70 points	0.91%	0.21%
Intesa Sanpaolo	IDEQ +0.69 points	0.89%	0.20%
Advantest Corp	TACN +0.63 points	0.24%	0.87%
Caixabank SA	IDEQ +0.59 points	1.00%	0.41%
Deutsche Bank AG Registered	IDEQ +0.59 points	0.73%	0.14%
Ucb SA	IDEQ +0.57 points	0.66%	0.09%
Recruit Holdings Co Ltd	TACN +0.56 points	0.62%	1.18%
Ubs Group AG Reg	TACN +0.53 points	0.31%	0.84%
Asm International NV	IDEQ +0.52 points	0.61%	0.09%
Hitachi Ltd	TACN +0.51 points	0.13%	0.64%
Imperial Brands PLCIMB.L	IDEQ +0.51 points	0.91%	0.40%
Standard Chartered PLCSTAN.L	IDEQ +0.51 points	0.88%	0.37%
Equinor Asa	TACN +0.43 points	0.14%	0.57%
Bhp Group Ltd	TACN +0.42 points	0.45%	0.87%
Softbank Corp	IDEQ +0.39 points	0.49%	0.10%
Sony Group Corp	TACN +0.39 points	0.73%	1.12%
Abb Ltd Reg	IDEQ +0.36 points	0.91%	0.55%
Japan Tobacco Inc	IDEQ +0.35 points	0.46%	0.11%
T+d Holdings Inc	IDEQ +0.33 points	0.36%	0.03%
Honda Motor Co Ltd	IDEQ +0.33 points	0.46%	0.13%
Societe Generale SA	IDEQ +0.32 points	0.68%	0.36%
Rolls Royce Holdings PLCRR.L	TACN +0.32 points	0.51%	0.83%
Thales SA	IDEQ +0.31 points	0.72%	0.41%
Mizuho Financial Group Inc	TACN +0.27 points	0.08%	0.35%
Tokyo Electron Ltd	TACN +0.27 points	0.31%	0.58%
Commerzbank AG	IDEQ +0.26 points	0.32%	0.06%
Siemens Energy AG	IDEQ +0.23 points	0.93%	0.70%
Boliden Ab	IDEQ +0.21 points	0.25%	0.04%
Infineon Technologies AG	TACN +0.20 points	0.27%	0.47%
Vestas Wind Systems A/S	TACN +0.18 points	0.11%	0.29%
Aker Bp Asa	IDEQ +0.17 points	0.21%	0.04%
Bridgestone Corp	TACN +0.16 points	0.14%	0.30%
Fast Retailing Co Ltd	IDEQ +0.15 points	0.54%	0.39%
Kirin Holdings Co Ltd	IDEQ +0.15 points	0.19%	0.04%
Evolution Mining Ltd	IDEQ +0.15 points	0.19%	0.04%
Kyocera Corp	IDEQ +0.14 points	0.19%	0.05%
Mitsui Osk Lines Ltd	IDEQ +0.14 points	0.18%	0.04%
Nippon Yusen Kk	IDEQ +0.13 points	0.47%	0.34%
Ly Corp	IDEQ +0.13 points	0.15%	0.02%
Prudential PLCPRU.L	IDEQ +0.12 points	0.19%	0.07%
Panasonic Holdings Corp	IDEQ +0.11 points	0.25%	0.14%
Logitech International Reg	TACN +0.11 points	0.10%	0.21%
Kioxia Holdings Corp	TACN +0.10 points	0.35%	0.45%
Softbank Group Corp	TACN +0.10 points	0.32%	0.42%
Aib Group PLC	IDEQ +0.10 points	0.15%	0.05%
Heineken Holding NV	IDEQ +0.09 points	0.13%	0.04%
Central Japan Railway Co	IDEQ +0.09 points	0.13%	0.04%
Barclays PLCBARC.L	TACN +0.08 points	0.47%	0.55%
Mitsubishi Electric Corp	IDEQ +0.08 points	0.31%	0.23%
Qbe Insurance Group Ltd	IDEQ +0.07 points	0.14%	0.07%
Leonardo Spa	IDEQ +0.07 points	0.13%	0.06%
Var Energi Asa	IDEQ +0.06 points	0.27%	0.21%
Oversea Chinese Banking Corp	TACN +0.06 points	0.11%	0.17%
Aristocrat Leisure Ltd	IDEQ +0.06 points	0.14%	0.08%
Lloyds Banking Group PLCLLOY.L	IDEQ +0.04 points	0.44%	0.40%
Bae Systems PLCBA.L	IDEQ +0.04 points	0.57%	0.53%
Astrazeneca PLCAZN.L	IDEQ +0.04 points	1.12%	1.08%
Sanofi	TACN +0.03 points	0.35%	0.38%
Bayer AG Reg	TACN +0.01 points	0.21%	0.22%

All 251 IDEQ 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.

IDEQ vs TACN Cost

Overpaying IDEQ vs TACN

$8,090

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

IDEQ 0.40%
$8,090
TACN 0.00%
$0

Amount$10,000

Years30 years

Cost over time

IDEQ 0.40%
TACN 0.00%
Overpaying

Year by year

Year	IDEQ	TACN	Overpaying
10	$723	$0	$723
20	$2,793	$0	$2,793
30	$8,090	$0	$8,090

Expense ratio

0.40%IDEQ
0.00%TACN, cheaper

TACN0.00%IDEQ0.40%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

TACN cheapest of 55 funds

IDEQ 14th cheapest of 55 funds

IDEQ vs TACN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IDEQ 1.39%; TACN No data
Payout (12M): IDEQ $0.46; TACN None
Last payment: IDEQ $0.28; TACN No data
Ex-dividend: IDEQ Jun 18, 2026; TACN No data
Paid on: IDEQ Jun 22, 2026; TACN No data
Frequency: IDEQ Twice a year; TACN No data

Distribution history

Per share, 2025 to 2026, same scale for both

IDEQTwice a year · 3 paymentsAll IDEQ payments⁠

TACNAll TACN payments⁠

No distribution history available.

IDEQ vs TACN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IDEQ 15.3%since Jun 2025TACN No data
Return per unit of riskSharpe ratio, 3 years: IDEQ 1.13since Jun 2025TACN No data
Worst fallMax drawdown, 5 years: IDEQ −13.0%since May 2025TACN No data
Market sensitivityBeta, 5 years: IDEQ 0.77TACN 0.65; Market = 1

IDEQ 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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