MFSI vs TACN: Grades, Fees and Holdings Compared

MFS Active International ETF

MFSICNYSE

T. Rowe Price Active Core International Equity ETF

TACNANYSE Arca

Overlap

17.8%by weight

Expense ratio

TACN −0.59pt a year

MFSI0.59%TACN0.00%

Avg volume · 30D

MFSI 84.2×the volume

MFSI218KTACN2.59K

MFSI vs TACN Performance

Dec 31, 2025 – Oct 30, 2026

+6.7%MFSI+10.5%TACN

Expense ratio: MFSI 0.59%; TACN 0.00%, better
Fund size: MFSI $1.26B; TACN $24M
1Y total return: MFSI +10.3%; TACN No data
Yield (12M): MFSI 0.78%; TACN No data
Holdings: MFSI 94; TACN 508
Avg volume (30D): MFSI 218K sh, better; TACN 2.59K sh
NAV per share: MFSI $32.45; TACN $28.20
52W range

ETF.net Grade

Pillar letters and Scores for MFSI, TACN, with each pillar’s weight
Pillar	MFSI	TACN
Cost30% weight	C43	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C52	A70Higher
Tradability15% weight	B57Higher	C46
Holdings10% weight	B58	A82Higher
Durability5% weight	B61Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. MFSI 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 MFSI 26th 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 25CIMOMAlpha Architect International Quantitative Momentum ETFScore 53
Rank 26CMFSIMFS Active International ETFScore 50
Rank 27COSEAHarbor International Compounders ETF (OSEA)Score 49

Our read on each fund

ETF.net Research

MFSICMFS Active International ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

MFSI No data

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

MFSI No data

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

Why people hold it

MFSI No data

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

MFSI No data

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 MFSI profile⁠

Full TACN profile⁠

MFSI vs TACN Holdings

How MFSI and TACN differ

Overlap by weight

17.8%

Shared holdings make up 54.6% of MFSI and 18.2% of TACN.

Level by level

Holdings50 in both17.8%
Countryby domicile63.2%
Asset classEquity100%

Sector

No Sector split for TACN.

Country, concentration and asset class

Country by domicile

Country weights in MFSI and TACN, widest gap first
Country	More in MFSIMore in TACN	MFSI	TACN
Taiwan	MFSI +9.0 points	9.0%	0.0%
Japan	TACN +7.7 points	16.8%	24.5%
China	MFSI +6.7 points	6.9%	0.2%
Australia	TACN +6.0 points	0.9%	6.9%
Netherlands	TACN +5.3 points	0.6%	5.9%
Canada	MFSI +5.2 points	5.2%	0.0%
United Kingdom	TACN +4.3 points	10.3%	14.6%
Germany	TACN +3.5 points	4.7%	8.2%
Other countries (23)	MFSI +6.0 points	45.7%	39.7%

Outside the US: MFSI 74% developed, 26% emerging. TACN 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

MFSI26.3%
TACN14.6%

Securities held

MFSI93
TACN498

Asset class

MFSI: Equity
TACN: Equity

Holdings

Only in MFSI43
In both50
Only in TACN448

Only in MFSI

43 securities, 44.5% of MFSI by weight

Taiwan Semiconductor Sp Adr7.25%
Samsung Electronics Co Ltd3.23%
Tencent Holdings Ltd Uns Adr2.04%
Totalenergies SE1.98%
Toronto Dominion Bank1.91%
Air Liquide SA1.62%
Bnp Paribas1.40%
Bank of Ireland Group PLC1.32%
Aia Groupltd Sp Adr1.30%
Ubs Groupag Reg1.21%
Dbs Groupholdings Ltd1.17%
Ryanair Holdings PLC Sp Adr1.13%
British American Tob Sp Adr1.12%
Hon Hai Precision Industry1.08%
Banco Bilbao Vizcaya Argenta1.04%
Credicorpltd0.87%
Franco Nevada Corp0.86%
Netease Inc Adr0.85%
Gerdau Saspon Adr0.81%
Kotak Mahindra Bank Ltd0.80%
Intact Financial Corp0.76%
Cgi Inc0.75%
Hdfc Bankltd Adr0.75%
Royal Bankof Canada0.70%
Anta Sports Products Ltd0.66%
Pdd Holdings Inc0.65%
Haier Smart Home Co Ltd H0.64%
Banco Bradesco Adr0.59%
Reliance Industries Limited0.58%
Kweichow Moutai Co Ltd A0.58%
Inner Mongolia Yili Indus A0.56%
Pernod Ricard SA0.52%
Yum Chinaholdings Inc0.45%
B3 SA Brasil Bolsa Balcao0.45%
Edenred0.43%
Beiersdorfag0.41%
China Resources Beer Holding0.39%
Novo Nordisk A/S B0.33%
Mahindra +mahindra Ltd0.32%
Hong Kongexchanges & Clear0.29%
Sands China Ltd0.24%
Byd Co Ltdunsponsored Adr0.22%
Qiagen N.v.0.20%

Only in TACN

448 securities, 81.4% of TACN by weight

Asml Holding NV Common Stock EUR.093.33%
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%
Astrazeneca PLC Common Stock USD.251.08%
Totalenergies SE Common Stock EUR2.51.06%
Allianz SE Reg Common Stock1.06%
Siemens AG Reg Common Stock0.99%
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%
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%
British American Tobacco PLC Common Stock0.58%
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%
Ms+ad Insurance Group Holdin Common Stock0.50%
Renesas Electronics Corp Common Stock0.50%
Suncorp Group Ltd Common Stock0.50%
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%
Infineon Technologies AG Common Stock0.47%
Eurofins Scientific Common Stock EUR.10.46%
Kioxia Holdings Corp Common Stock0.45%
Dhl AG Common Stock0.45%

Weight gaps

All 50 Holdings in both funds, largest gap first.

Holding weights in MFSI and TACN, widest gap first
Holding	More in MFSIMore in TACN	MFSI	TACN
Eni Spa	MFSI +1.70 points	1.84%	0.14%
Check Point Software TechCHKP	MFSI +1.68 points	1.72%	0.04%
Sompo Holdings Inc	MFSI +1.54 points	1.61%	0.07%
Compass Group PLCCPG.L	MFSI +1.45 points	1.59%	0.14%
Intesa Sanpaolo	MFSI +1.35 points	1.55%	0.20%
Cie Financiere Richemo A Reg	MFSI +1.35 points	1.77%	0.42%
Hitachi Ltd	MFSI +1.34 points	1.98%	0.64%
Mitsubishielectric Corp	MFSI +1.27 points	1.50%	0.23%
Natwest Group PLCNWG.L	MFSI +1.26 points	1.41%	0.15%
Kone Oyj B	MFSI +1.20 points	1.25%	0.05%
Engie	MFSI +1.17 points	1.28%	0.11%
Schneiderelectric SE	MFSI +1.09 points	1.68%	0.59%
Ing Groepnv	MFSI +1.08 points	1.72%	0.64%
Seven & Iholdings Co Ltd	MFSI +1.01 points	1.08%	0.07%
Experian PLCEXPN.L	MFSI +1.00 points	1.09%	0.09%
Deutsche Boerse AG	MFSI +0.99 points	1.14%	0.15%
Suzuki Motor Corp	MFSI +0.91 points	0.97%	0.06%
Merck Kgaa	MFSI +0.89 points	1.31%	0.42%
Shin Etsuchemical Co Ltd	MFSI +0.88 points	1.04%	0.16%
Tesco PLCTSCO.L	MFSI +0.84 points	1.30%	0.46%
Daikin Industries Ltd	MFSI +0.82 points	0.88%	0.06%
Rolls Royce Holdings PLCRR.L	MFSI +0.82 points	1.65%	0.83%
Novartis AG Reg	MFSI +0.80 points	2.09%	1.29%
Woodside Energy Group Ltd	MFSI +0.70 points	0.88%	0.18%
Terumo Corp	MFSI +0.68 points	0.74%	0.06%
Compagniede Saint Gobain	MFSI +0.66 points	0.74%	0.08%
Gsk PLCGSK.L	MFSI +0.64 points	0.98%	0.34%
Roche Holding AG	MFSI +0.63 points	2.18%	1.55%
Sonova Holding AG Reg	MFSI +0.62 points	1.13%	0.51%
Ly Corp	MFSI +0.57 points	0.59%	0.02%
Amadeus Itgroup SA	MFSI +0.52 points	0.96%	0.44%
Denso Corp	MFSI +0.52 points	0.58%	0.06%
Sap SE	MFSI +0.51 points	1.46%	0.95%
Hoya Corp	MFSI +0.50 points	0.64%	0.14%
Fujifilm Holdings Corp	MFSI +0.51 points	0.56%	0.05%
Nestle Sareg	TACN +0.41 points	0.61%	1.02%
London Stock Exchange GroupLSEG.L	MFSI +0.39 points	0.52%	0.13%
Sumitomo Mitsui Financial Gr	MFSI +0.36 points	1.41%	1.05%
PrudentialplcPRU.L	MFSI +0.32 points	0.39%	0.07%
Relx PLCREL.L	MFSI +0.29 points	0.79%	0.50%
Rio TintoplcRIO.L	MFSI +0.29 points	0.64%	0.35%
Bridgestone Corp	MFSI +0.26 points	0.56%	0.30%
Lvmh Moethennessy Louis Vui	MFSI +0.24 points	0.69%	0.45%
Zurich Insurance Group AG	MFSI +0.23 points	0.59%	0.36%
Wolters Kluwer	MFSI +0.22 points	0.29%	0.07%
Heineken NV	MFSI +0.20 points	0.27%	0.07%
Mtu Aero Engines AG	MFSI +0.20 points	0.27%	0.07%
Advantestcorp	MFSI +0.17 points	1.04%	0.87%
Sony Groupcorp	MFSI +0.05 points	1.17%	1.12%
Glencore PLCGLEN.L	TACN +0.02 points	0.43%	0.45%

All MFSI 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.

MFSI vs TACN Cost

Overpaying MFSI vs TACN

$11,635

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

MFSI 0.59%
$11,635
TACN 0.00%
$0

Amount$10,000

Years30 years

Cost over time

MFSI 0.59%
TACN 0.00%
Overpaying

Year by year

Year	MFSI	TACN	Overpaying
10	$1,058	$0	$1,058
20	$4,051	$0	$4,051
30	$11,635	$0	$11,635

Expense ratio

0.59%MFSI
0.00%TACN, cheaper

TACN0.00%MFSI0.59%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

TACN cheapest of 55 funds

MFSI 31st cheapest of 55 funds

MFSI vs TACN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): MFSI 0.78%; TACN No data
Payout (12M): MFSI $0.25; TACN None
Last payment: MFSI $0.01; TACN No data
Ex-dividend: MFSI Jul 31, 2026; TACN No data
Paid on: MFSI Aug 3, 2026; TACN No data
Frequency: MFSI Twice a year; TACN No data

Distribution history

Per share, 2025 to 2026, same scale for both

MFSITwice a year · 3 paymentsAll MFSI payments⁠

TACNAll TACN payments⁠

No distribution history available.

MFSI vs TACN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: MFSI 10.3%since Jan 2025TACN No data
Return per unit of riskSharpe ratio, 3 years: MFSI 1.26since Jan 2025TACN No data
Worst fallMax drawdown, 5 years: MFSI −13.7%since Dec 2024TACN No data
Market sensitivityBeta, 5 years: MFSI 0.53TACN 0.65; Market = 1

MFSI 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

MFSICvsAVDEA
MFS Active International ETF · Avantis International Equity ETF
Expense ratio
0.59% · 0.23%
Category
TACNAvsAVDEA
T. Rowe Price Active Core International Equity ETF · Avantis International Equity ETF
Expense ratio
0.00% · 0.23%
Category
MFSICvsDFICA
MFS Active International ETF · Dimensional International Core Equity 2 ETF
Expense ratio
0.59% · 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
MFSICvsJIREA
MFS Active International ETF · JPMorgan International Research Enhanced Equity ETF
Expense ratio
0.59% · 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

MFSI vs TACN

In short

Stated mandate

Why people hold it

Worth knowing

How MFSI and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in MFSI

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