PQNT vs TACN: Grades, Fees and Holdings Compared

Pictet AI Enhanced International Equity ETF

PQNTBNYSE Arca

T. Rowe Price Active Core International Equity ETF

TACNANYSE Arca

Overlap

40.5%by weight

Expense ratio

TACN −0.30pt a year

PQNT0.30%TACN0.00%

Avg volume · 30D

TACN 1.1×the volume

PQNT2.46KTACN2.59K

PQNT vs TACN Performance

Dec 31, 2025 – Oct 30, 2026

+7.3%PQNT+10.5%TACN

Expense ratio: PQNT 0.30%; TACN 0.00%, better
Fund size: PQNT $14M; TACN $24M
1Y total return: PQNT +11.9%; TACN No data
Holdings: PQNT 273; TACN 508
Avg volume (30D): PQNT 2.46K sh; TACN 2.59K sh, better
NAV per share: PQNT $22.64; TACN $28.20
52W range

ETF.net Grade

Pillar letters and Scores for PQNT, TACN, with each pillar’s weight
Pillar	PQNT	TACN
Cost30% weight	A89	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C51	A70Higher
Tradability15% weight	D25	C46Higher
Holdings10% weight	B57	A82Higher
Durability5% weight	D32Higher	D30

Rank among International Active Equity funds

How we build Categories ›

Same Category. PQNT 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 PQNT 20th 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 20BCGIECapital Group International Equity ETFScore 60
Rank 20BPQNTPictet AI Enhanced International Equity ETFScore 60
Rank 22BTILCThrivent International Large Cap ETFScore 57

Our read on each fund

ETF.net Research

PQNTBPictet AI Enhanced International Equity ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

PQNT AI is the engine here, not the pitch: an actively managed developed-markets fund measured against the MSCI EAFE index, where machine-driven stock selection costs 0.30%, low for an active international mandate.

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

PQNT The Fund seeks long-term capital appreciation and is an actively managed ETF using an investment strategy enhanced through artificial intelligence.

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

Why people hold it

PQNT 0.30% for an actively managed international portfolio, well under the typical fee in the active international aisle.
Among funds using MSCI EAFE as their yardstick, fees stretch past a full point (AADR at 1.17%). PQNT sits near the floor of that range.
The mandate stays plain: developed non-US stocks, benchmarked to MSCI EAFE. AI drives the selection, so this is not a thematic basket of AI stocks.
Rates in the upper half of its actively managed international peer group on our review, with the portfolio itself a relative strength.

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

PQNT Launched in October 2025, so there is no long live record showing how the AI-enhanced process behaves across a full market cycle.
Still a small, thinly traded fund, which can mean wider bid-ask spreads than the household names in the category.
Active is active: holdings can look different from MSCI EAFE, so results can diverge from the benchmark in either direction.

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 PQNT profile⁠

Full TACN profile⁠

PQNT vs TACN Holdings

How PQNT and TACN differ

Overlap by weight

40.5%

Shared holdings make up 67.8% of PQNT and 52.6% of TACN.

Level by level

Holdings188 in both40.5%
Countryby domicile92.2%
Asset classEquity100%

Sector

No Sector split for PQNT and TACN.

Country, concentration and asset class

Country by domicile

Country weights in PQNT and TACN, widest gap first
Country	More in PQNTMore in TACN	PQNT	TACN
France	TACN +1.7 points	7.4%	9.1%
Australia	TACN +1.7 points	5.2%	6.9%
Switzerland	PQNT +1.6 points	11.1%	9.5%
Netherlands	PQNT +1.4 points	7.3%	5.9%
Sweden	PQNT +1.3 points	3.6%	2.3%
Spain	TACN +1.0 points	3.2%	4.2%
Denmark	TACN +1.1 points	0.8%	1.9%
Japan	PQNT +0.9 points	25.4%	24.5%
Other countries (17)	PQNT +0.4 points	36.1%	35.7%

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

Concentration

Weight in the 10 largest Holdings

PQNT26.9%
TACN14.6%

Securities held

PQNT272
TACN498

Asset class

PQNT: Equity
TACN: Equity

Holdings

Only in PQNT84
In both188
Only in TACN310

Only in PQNT

84 securities, 32.0% of PQNT by weight

Cashusd5.90%
Ishares Msci Eafe Etf4.80%
Ishares Core Msci Eafe Etf4.78%
Bnp Paribas1.03%
L'oreal0.88%
Banco Bilbao Vizcaya Arg0.86%
Assa Abloy Ab-B0.81%
Ck Hutchison Holdings Lt0.77%
Nordea Bank Abp0.77%
Anz Group Holdings Ltd0.70%
Allianz SE Registered0.59%
Schindler Holding Ag-Reg0.57%
Bayer Ag-Reg0.56%
Westpac Banking Corp0.53%
Air Liquide SA0.46%
Rio Tinto Ltd0.43%
Daiwa Securities Group I0.42%
Intercontinental Hotels Grou0.40%
Mitsubishi Ufj Lease & Finance0.36%
Sun Hung Kai Properties0.36%
Singapore Tech Engineeri0.29%
Carrefour SA0.27%
Banco Santander SA0.24%
Standard Life PLC0.24%
Industria De Diseno Text0.24%
Airbus SE0.23%
United Overseas Bk Ltd Ord0.23%
Bank of Ireland Group Pl0.22%
Telstra Group Ltd0.21%
Ferrari NV0.18%
Reckitt Benckiser Group0.18%
Trelleborg Ab-B Shs0.17%
Volvo Ab-B Shs0.16%
Ap Moller-Maersk A/S-B0.15%
Techtronic Industries Co0.15%
Teva Pharmaceutical Ind Ltd0.14%
Wharf Real Estate Invest0.14%
Novo Nordisk A/S-B0.13%
Saab Ab-B0.13%
Medibank Private Ltd0.12%
Yangzijiang Shipbuilding0.12%
Swire Pacific Ltd - Class A0.12%
Lifco Ab-B Shs0.12%
Atlas Copco Ab-B Shs0.11%
Atlas Copco Ab-A Shs0.10%
Sainsbury (J) PLC0.10%
Alcon Inc0.09%
Capitaland Integrated Co0.08%
Continental AG0.08%
Arcelormittal0.08%

Only in TACN

310 securities, 47.1% of TACN by weight

Shell PLC Common Stock EUR.071.30%
Astrazeneca PLC Common Stock USD.251.08%
Totalenergies SE Common Stock EUR2.51.06%
Allianz SE Reg Common Stock1.06%
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%
Anz Group Holdings Ltd Common Stock0.84%
Airbus SE Common Stock EUR1.00.75%
Bnp Paribas Common Stock EUR2.00.65%
Banco Santander SA Common Stock EUR.50.62%
Kddi Corp Common Stock0.60%
Vinci SA Common Stock EUR2.50.58%
Equinor Asa Common Stock NOK2.50.57%
Air Liquide SA Common Stock EUR5.50.55%
Asahi Group Holdings Ltd Common Stock0.51%
Sonova Holding AG Reg Common Stock CHF.050.51%
Suncorp Group Ltd Common Stock0.50%
Komatsu Ltd Common Stock0.49%
Intercontinental Hotels Grou Common Stock GBP.20852130.49%
Hannover Rueck SE Common Stock0.48%
Infineon Technologies AG Common Stock0.47%
Eurofins Scientific Common Stock EUR.10.46%
Glencore PLC Common Stock USD.010.45%
Lvmh Moet Hennessy Louis Vui Common Stock EUR.30.45%
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%
Jeronimo Martins Common Stock EUR1.00.41%
L Oreal Common Stock EUR.20.41%
Bp PLC Common Stock USD.250.39%
Ferrari NV Common Stock EUR.010.38%
Mitsubishi Corp Common Stock0.37%
Standard Chartered PLC Common Stock USD.50.37%
United Overseas Bank Ltd Common Stock0.36%
Mizuho Financial Group Inc Common Stock0.35%
Nippon Yusen Kk Common Stock0.34%
Generali Common Stock0.34%
Bunzl PLC Common Stock GBP.32142860.33%
Michelin (Cgde) Common Stock EUR.50.33%
Techtronic Industries Co Ltd Common Stock0.31%
Westpac Banking Corp Common Stock0.31%
Koninklijke Ahold Delhaize N Common Stock EUR.010.31%
Upm Kymmene Oyj Common Stock0.30%
Nitori Holdings Co Ltd Common Stock0.30%
Bridgestone Corp Common Stock0.30%
Mitsubishi Chemical Group Co Common Stock0.30%
Otsuka Corp Common Stock0.29%
Tower Semiconductor Ltd Common Stock ILS15.00.29%

Weight gaps

The 100 widest of 188 Holdings in both funds.

Holding weights in PQNT and TACN, widest gap first
Holding	More in PQNTMore in TACN	PQNT	TACN
Sumitomo Mitsui Financia	TACN +0.98 points	0.07%	1.05%
Galderma Group AG	PQNT +0.97 points	1.08%	0.11%
British American TobaccoBATS.L	PQNT +0.93 points	1.51%	0.58%
Abn Amro Bank Nv-Cva	PQNT +0.85 points	0.92%	0.07%
Mitsubishi Ufj Financial	TACN +0.81 points	0.62%	1.43%
London Stock Exchange GrLSEG.L	PQNT +0.80 points	0.93%	0.13%
Intesa Sanpaolo	PQNT +0.78 points	0.98%	0.20%
Japan Tobacco Inc	PQNT +0.74 points	0.85%	0.11%
Zurich Insurance Group AG	PQNT +0.73 points	1.09%	0.36%
Unilever PLCULVR.L	TACN +0.65 points	0.21%	0.86%
Fujitsu Limited	PQNT +0.63 points	0.73%	0.10%
Kbc Group NV	PQNT +0.62 points	0.69%	0.07%
Itochu Corp	PQNT +0.62 points	0.82%	0.20%
Takeda Pharmaceutical Co	TACN +0.59 points	0.04%	0.63%
Sumitomo Corp	TACN +0.58 points	0.08%	0.66%
Muenchener Rueckver Ag-R	PQNT +0.57 points	0.86%	0.29%
Fanuc Corporation	PQNT +0.57 points	0.63%	0.06%
Anglo American PLCAAL.L	PQNT +0.52 points	0.64%	0.12%
Engie	PQNT +0.51 points	0.62%	0.11%
Hsbc Holdings PLCHSBA.L	TACN +0.51 points	0.75%	1.26%
Next PLCNXT.L	PQNT +0.49 points	0.55%	0.06%
Fast Retailing Co Ltd	PQNT +0.47 points	0.86%	0.39%
Bank Leumi Le-Israel	PQNT +0.46 points	0.54%	0.08%
Edp SA	PQNT +0.45 points	0.50%	0.05%
Barclays PLCBARC.L	TACN +0.44 points	0.11%	0.55%
Rio Tinto PLCRIO.L	PQNT +0.42 points	0.77%	0.35%
Natwest Group PLCNWG.L	PQNT +0.41 points	0.56%	0.15%
Sumitomo Realty & Develo	PQNT +0.40 points	0.42%	0.02%
Unicredit Spa	TACN +0.40 points	0.45%	0.85%
Tokio Marine Holdings Inc	PQNT +0.39 points	0.64%	0.25%
Axa SA	PQNT +0.37 points	0.66%	0.29%
Thales SA	TACN +0.37 points	0.04%	0.41%
Vodafone Group PLCVOD.L	PQNT +0.37 points	0.44%	0.07%
Aia Group Ltd	PQNT +0.34 points	0.78%	0.44%
Societe Generale SA	TACN +0.34 points	0.02%	0.36%
Shin-Etsu Chemical Co Lt	PQNT +0.31 points	0.47%	0.16%
Bandai Namco Holdings In	PQNT +0.31 points	0.34%	0.03%
Capgemini SE	PQNT +0.31 points	0.38%	0.07%
Nestle Sa-Reg	TACN +0.31 points	0.71%	1.02%
Daiichi Life Group Inc	PQNT +0.31 points	0.42%	0.11%
Deutsche Bank Ag-Registe	PQNT +0.31 points	0.45%	0.14%
MS&AD Insurance Group Holdings	TACN +0.29 points	0.21%	0.50%
Orange SA	TACN +0.29 points	0.02%	0.31%
Iberdrola SA	PQNT +0.29 points	0.86%	0.57%
Dhl AG	TACN +0.29 points	0.16%	0.45%
Murata Manufacturing Co	TACN +0.28 points	0.20%	0.48%
Deutsche Telekom Ag-Reg	TACN +0.27 points	0.40%	0.67%
Sbi Holdings Inc	PQNT +0.27 points	0.29%	0.02%
Caixabank SA	TACN +0.28 points	0.13%	0.41%
Siemens Ag-Reg	TACN +0.27 points	0.72%	0.99%
Imperial Brands PLCIMB.L	TACN +0.27 points	0.13%	0.40%
Credit Agricole SA	PQNT +0.27 points	0.33%	0.06%
Asm International NV	PQNT +0.27 points	0.36%	0.09%
Japan Post Holdings Co L	PQNT +0.26 points	0.33%	0.07%
Mitsui & Co Ltd	PQNT +0.27 points	0.52%	0.25%
Asml Holding NV	TACN +0.25 points	3.08%	3.33%
Sanofi	TACN +0.26 points	0.12%	0.38%
Tesco PLCTSCO.L	PQNT +0.26 points	0.72%	0.46%
Nitto Denko Corp	PQNT +0.24 points	0.27%	0.03%
Dnb Bank Asa	PQNT +0.24 points	0.31%	0.07%
Sumitomo Electric Indust	PQNT +0.24 points	0.31%	0.07%
Suzuki Motor Corp	PQNT +0.24 points	0.30%	0.06%
Sap SE	TACN +0.23 points	0.72%	0.95%
Legrand SA	PQNT +0.23 points	0.32%	0.09%
Safran SA	TACN +0.24 points	0.39%	0.63%
Softbank Group Corp	TACN +0.23 points	0.19%	0.42%
Indutrade Ab	PQNT +0.22 points	0.25%	0.03%
Koninklijke Kpn NV	PQNT +0.23 points	0.28%	0.05%
Nidec Corp	PQNT +0.22 points	0.24%	0.02%
Mitsui Fudosan Co Ltd	PQNT +0.22 points	0.48%	0.26%
Marubeni Corp	PQNT +0.22 points	0.30%	0.08%
Tokyo Electron Ltd	PQNT +0.22 points	0.80%	0.58%
Terna-Rete Elettrica Naz	PQNT +0.21 points	0.24%	0.03%
Rwe AG	PQNT +0.21 points	0.31%	0.10%
Sony Group Corp	PQNT +0.21 points	1.33%	1.12%
Commonwealth Bank of Aus	TACN +0.21 points	0.51%	0.72%
Deutsche Boerse AG	PQNT +0.21 points	0.36%	0.15%
Mitsubishi Electric Corp	TACN +0.21 points	0.02%	0.23%
Novartis Ag-Reg	PQNT +0.20 points	1.49%	1.29%
Softbank Corp	PQNT +0.20 points	0.30%	0.10%
Dbs Group Holdings Ltd	TACN +0.19 points	0.55%	0.74%
Macquarie Group Ltd	PQNT +0.19 points	0.44%	0.25%
Klepierre	TACN +0.19 points	0.06%	0.25%
Anheuser-Busch Inbev Sa/	PQNT +0.18 points	0.44%	0.26%
Kone Oyj-B	PQNT +0.18 points	0.23%	0.05%
Renesas Electronics Corp	TACN +0.17 points	0.33%	0.50%
Tenaris SA	PQNT +0.17 points	0.20%	0.03%
Panasonic Corp	PQNT +0.17 points	0.31%	0.14%
Ubs Group Ag-Reg	PQNT +0.17 points	1.01%	0.84%
Wolters Kluwer	PQNT +0.17 points	0.24%	0.07%
Gea Group AG	PQNT +0.15 points	0.19%	0.04%
Leonardo Spa	PQNT +0.15 points	0.21%	0.06%
Daiwa House Industry Co	PQNT +0.14 points	0.18%	0.04%
Shiseido Co Ltd	PQNT +0.15 points	0.16%	<0.01%
Nomura Research Institut	PQNT +0.15 points	0.18%	0.03%
Toyota Motor Corp	TACN +0.15 points	0.56%	0.71%
Sitc International Holdi	PQNT +0.13 points	0.16%	0.03%
Fisher & Paykel Healthca	PQNT +0.13 points	0.19%	0.06%
Wartsila	TACN +0.13 points	0.05%	0.18%
Chubu Electric Power Co	PQNT +0.13 points	0.17%	0.04%

All 259 PQNT 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.

PQNT vs TACN Cost

Overpaying PQNT vs TACN

$6,149

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

PQNT 0.30%
$6,149
TACN 0.00%
$0

Amount$10,000

Years30 years

Cost over time

PQNT 0.30%
TACN 0.00%
Overpaying

Year by year

Year	PQNT	TACN	Overpaying
10	$545	$0	$545
20	$2,113	$0	$2,113
30	$6,149	$0	$6,149

Expense ratio

0.30%PQNT
0.00%TACN, cheaper

TACN0.00%PQNT0.30%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

TACN cheapest of 55 funds

PQNT 6th cheapest of 55 funds

PQNT vs TACN Dividends

Last 12 months to Oct 30, 2026

Payout (12M): PQNT No data; TACN None
Last payment: PQNT $0.08; TACN No data
Ex-dividend: PQNT Dec 19, 2025; TACN No data
Paid on: PQNT Dec 23, 2025; TACN No data
Frequency: PQNT Irregular; TACN No data

Distribution history

Per share, 2025 to 2026, same scale for both

PQNTIrregular · 1 paymentAll PQNT payments⁠

TACNAll TACN payments⁠

No distribution history available.

PQNT vs TACN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PQNT 12.5%since Nov 2025TACN No data
Return per unit of riskSharpe ratio, 3 years: PQNT 0.66since Nov 2025TACN No data
Worst fallMax drawdown, 5 years: PQNT −11.2%since Oct 2025TACN No data
Market sensitivityBeta, 5 years: PQNT 0.63TACN 0.65; Market = 1

PQNT 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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PQNT vs TACN

In short

Stated mandate

Why people hold it

Worth knowing

How PQNT and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PQNT

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 PQNT and TACN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PQNT

Only in TACN

Weight gaps