TACN vs. SAPH

Last updated Jul 10, 2026

TACN (T. Rowe Price Active Core International Equity ETF) and SAPH (ADRhedged SAP ETF) are both Actively Managed funds. Both are actively managed. At a 0.04 correlation, their price movements are largely independent. TACN charges 0.20%/yr vs 0.19%/yr for SAPH.

Performance

TACN vs. SAPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Active Core International Equity ETF (TACN) and ADRhedged SAP ETF (SAPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TACN achieves a 10.93% return, which is significantly higher than SAPH's -30.91% return.

TACN

• 1D: 0.39%
• 1M: 2.67%
• 6M: 8.65%
• YTD: 10.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SAPH

• 1D: 0.63%
• 1M: -10.17%
• 6M: -31.03%
• YTD: -30.91%
• 1Y: -45.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TACN vs. SAPH - Yearly Performance Comparison

	2026 (YTD)	2025
TACN T. Rowe Price Active Core International Equity ETF	10.93%	1.68%
SAPH ADRhedged SAP ETF	-30.91%	-1.59%

Correlation

The correlation between TACN and SAPH is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.04

Return for Risk

TACN vs. SAPH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TACN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SAPH

SAPH Risk / Return Rank: 1
SAPH Sharpe Ratio Rank: 0
SAPH Sortino Ratio Rank: 1
SAPH Omega Ratio Rank: 0
SAPH Calmar Ratio Rank: 1
SAPH Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TACN vs. SAPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Active Core International Equity ETF (TACN) and ADRhedged SAP ETF (SAPH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TACN	SAPH	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.32	—
Sortino ratio: Return per unit of downside risk	—	-1.97	—
Omega ratio: Gain probability vs. loss probability	—	0.75	—
Calmar ratio: Return relative to maximum drawdown	—	-0.94	—
Martin ratio: Return relative to average drawdown	—	-1.54	—

Drawdowns

TACN vs. SAPH - Drawdown Comparison

The maximum TACN drawdown since its inception was -10.98%, smaller than the maximum SAPH drawdown of -51.14%. Use the drawdown chart below to compare losses from any high point for TACN and SAPH.

Drawdown Indicators

	TACN	SAPH	Difference
Max Drawdown Largest peak-to-trough decline	-10.98%	-51.14%	+40.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.85%	—
Current Drawdown Current decline from peak	-1.18%	-48.20%	+47.02%
Average Drawdown Average peak-to-trough decline	-2.42%	-22.21%	+19.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.92%	—

Volatility

Volatility by Period

	TACN	SAPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.59%	34.95%	-17.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	34.14%	-16.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	34.14%	-16.55%

TACN vs. SAPH - Expense Ratio Comparison

TACN has a 0.20% expense ratio, which is higher than SAPH's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TACN vs. SAPH - Dividend Comparison

TACN has not paid dividends to shareholders, while SAPH's dividend yield for the trailing twelve months is around 4.04%.

Position	TTM
SAPH ADRhedged SAP ETF	4.04%
TACN T. Rowe Price Active Core International Equity ETF	0.00%

Frequently Asked Questions

Can I hold both TACN and SAPH in my portfolio?

TACN and SAPH have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TACN or SAPH?

On fees, SAPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TACN or SAPH?

SAPH is cheaper with a 0.19% expense ratio, compared with 0.20% for TACN.

Which ETF pays a higher dividend yield, TACN or SAPH?

SAPH has the higher dividend yield at 4.04%, compared with 0.00% for TACN.

What is the main difference between TACN and SAPH?

They also come from different issuers: T. Rowe Price and ADRhedged. Their fees differ too: 0.20% for TACN and 0.19% for SAPH.