PRAE vs TACN

PRAEDPlanRock Alternative Growth ETF

TACNAT. Rowe Price Active Core International Equity ETF

In short

PRAE A tactical long/short playbook in a plain ETF wrapper: PRAE rotates across global equity segments on trend and momentum rules and can flip short with futures. Cost is the trade-off at 1.49% net of a waiver through February 1, 2027 (3.99% gross).

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

PRAE Seeks long-term capital appreciation by investing primarily in common stocks and other equity securities.

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

Why people hold it

• PRAE Trend, momentum and valuation rules decide which global equity segments get weight, and the fund can take short positions with index futures when a trend turns down.sec.gov
• The book is compact, roughly 40 positions, and reaches past common stocks into other ETFs, equity index futures, commodities and currency futures.sec.gov
• Its documented aim is low correlation to broad global equities, a different job from the cap-weighted international funds sitting beside it in the category.planrockfunds.com

• 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.govtroweprice.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.govtroweprice.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

• PRAE Fees are the headline trade-off: 1.49% net of a waiver through February 1, 2027 (3.99% gross), above the category median, with leaders like DFIC at 0.22% and AVDE at 0.23%.
• A small, thinly traded fund, so bid-ask spreads can run wider than in the category's household names.
• Trading since December 2023, and the rotation rules are proprietary, so there is less public detail on how positions get picked than with index-tracking peers.sec.gov

• 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 PRAE profile⁠

Full TACN profile⁠