TGRW vs. TIER

Last updated Jun 24, 2026

TGRW (T. Rowe Price Growth Stock ETF) and TIER (T. Rowe Price International Equity Research ETF) are both exchange-traded funds - TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while TIER is a Foreign Large Cap Equities fund actively managed by T. Rowe Price. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. TGRW charges 0.52%/yr vs 0.38%/yr for TIER.

Performance

TGRW vs. TIER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth Stock ETF (TGRW) and T. Rowe Price International Equity Research ETF (TIER). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGRW achieves a 0.74% return, which is significantly lower than TIER's 13.19% return.

TGRW

• 1D: -1.34%
• 1M: -3.27%
• YTD: 0.74%
• 6M: -0.34%
• 1Y: 15.30%
• 3Y*: 19.72%
• 5Y*: 7.54%
• 10Y*: —

TIER

• 1D: -2.85%
• 1M: 1.38%
• YTD: 13.19%
• 6M: 13.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TGRW vs. TIER - Yearly Performance Comparison

	2026 (YTD)	2025
TGRW T. Rowe Price Growth Stock ETF	0.74%	12.17%
TIER T. Rowe Price International Equity Research ETF	13.19%	12.72%

Correlation

The correlation between TGRW and TIER is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.66

TGRW vs. TIER - Sectors Allocation Comparison

Sectors	TGRW	TIER
Technology	52.6%	23.7%
Communication Services	16.5%	5.2%
Consumer Cyclical	13.1%	7.4%
Healthcare	6.6%	5.9%
Financial Services	5.2%	23.6%
Industrials	4.1%	13.7%
Consumer Defensive	0.8%	4.6%
Basic Materials	0.6%	7.3%
Real Estate	0.6%	1.1%
Energy	-	5.1%
Utilities	-	2.5%

Return for Risk

TGRW vs. TIER — Risk / Return Rank

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

TGRW

TGRW Risk / Return Rank: 23
TGRW Sharpe Ratio Rank: 26
TGRW Sortino Ratio Rank: 25
TGRW Omega Ratio Rank: 24
TGRW Calmar Ratio Rank: 19
TGRW Martin Ratio Rank: 22

TIER

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

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.

TGRW vs. TIER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth Stock ETF (TGRW) and T. Rowe Price International Equity Research ETF (TIER). 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.

	TGRW	TIER	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.30	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.82	—	—
Martin ratio: Return relative to average drawdown	2.53	—	—

Drawdowns

TGRW vs. TIER - Drawdown Comparison

The maximum TGRW drawdown since its inception was -43.33%, which is greater than TIER's maximum drawdown of -12.07%. Use the drawdown chart below to compare losses from any high point for TGRW and TIER.

Drawdown Indicators

	TGRW	TIER	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	-12.07%	-31.26%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.33%	—	—
Current Drawdown Current decline from peak	-6.51%	-2.85%	-3.66%
Average Drawdown Average peak-to-trough decline	-12.40%	-1.78%	-10.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	—	—

Volatility

Volatility by Period

	TGRW	TIER	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	16.49%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	16.49%	+6.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	16.49%	+6.55%

TGRW vs. TIER - Expense Ratio Comparison

TGRW has a 0.52% expense ratio, which is higher than TIER's 0.38% expense ratio.

Dividends

TGRW vs. TIER - Dividend Comparison

TGRW has not paid dividends to shareholders, while TIER's dividend yield for the trailing twelve months is around 0.66%.

Position	TTM	2025	2024	2023	2022	2021	2020
TGRW T. Rowe Price Growth Stock ETF	0.00%	0.00%	0.00%	0.01%	0.00%	0.40%	0.21%
TIER T. Rowe Price International Equity Research ETF	0.66%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGRW and TIER in my portfolio?

TGRW and TIER have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TGRW or TIER?

On fees, TIER is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TGRW or TIER?

TIER is cheaper with a 0.38% expense ratio, compared with 0.52% for TGRW.

Which ETF pays a higher dividend yield, TGRW or TIER?

TIER has the higher dividend yield at 0.66%, compared with 0.00% for TGRW.

What is the main difference between TGRW and TIER?

TGRW is categorized as Large Cap Growth Equities, while TIER is Foreign Large Cap Equities. Their fees differ too: 0.52% for TGRW and 0.38% for TIER.