TIER vs. BUFI

Last updated Aug 2, 2026

TIER (T. Rowe Price International Equity Research ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - TIER is a Foreign Large Cap Equities fund actively managed by T. Rowe Price, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. Both are actively managed. Over the past year, TIER returned 28.71% vs 14.79% for BUFI. Their correlation of 0.91 means they have usually moved in the same direction. TIER charges 0.38%/yr vs 0.69%/yr for BUFI.

Performance

TIER vs. BUFI - Performance Comparison

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

Returns By Period

In the year-to-date period, TIER achieves a 13.45% return, which is significantly higher than BUFI's 6.77% return.

TIER

• 1D: -0.02%
• 1M: 0.20%
• 6M: 7.64%
• YTD: 13.45%
• 1Y: 28.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.17%

BUFI

• 1D: -0.60%
• 1M: 0.60%
• 6M: 4.45%
• YTD: 6.77%
• 1Y: 14.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUFI AB International Buffer ETF	$181.70K	$602.68K	$512.75K
TIER T. Rowe Price International Equity Research ETF	$89.46K	$365.95K	$202.50K

TIER vs. BUFI - Yearly Performance Comparison

	2026 (YTD)	2025
TIER T. Rowe Price International Equity Research ETF	13.45%	12.72%
BUFI AB International Buffer ETF	6.77%	7.35%

Correlation

The correlation between TIER and BUFI is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.91

The correlation between TIER and BUFI has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

TIER vs. BUFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TIER

TIER Risk / Return Rank: 71
TIER Sharpe Ratio Rank: 72
TIER Sortino Ratio Rank: 72
TIER Omega Ratio Rank: 74
TIER Calmar Ratio Rank: 67
TIER Martin Ratio Rank: 71

BUFI

BUFI Risk / Return Rank: 76
BUFI Sharpe Ratio Rank: 72
BUFI Sortino Ratio Rank: 76
BUFI Omega Ratio Rank: 76
BUFI Calmar Ratio Rank: 74
BUFI Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TIER vs. BUFI - Risk-Adjusted Trends Comparison

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

	TIER	BUFI	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.64	+0.02
Sortino ratio: Return per unit of downside risk	2.34	2.46	-0.11
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.34	2.61	-0.26
Martin ratio: Return relative to average drawdown	8.83	10.48	-1.65

TIER vs. BUFI - Sharpe Ratio Comparison

The current TIER Sharpe Ratio is 1.67, which is comparable to the BUFI Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TIER and BUFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TIER vs. BUFI - Drawdown Comparison

The maximum TIER drawdown since its inception was -12.07%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for TIER and BUFI.

Drawdown Indicators

	TIER	BUFI	Difference
Max Drawdown Largest peak-to-trough decline	-12.07%	-7.43%	-4.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-5.69%	-6.38%
Current Drawdown Current decline from peak	-2.63%	-0.60%	-2.03%
Average Drawdown Average peak-to-trough decline	-1.91%	-0.84%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	1.41%	+1.79%

Volatility

TIER vs. BUFI - Volatility Comparison

T. Rowe Price International Equity Research ETF (TIER) has a higher volatility of 5.23% compared to AB International Buffer ETF (BUFI) at 3.43%. This indicates that TIER's price experiences larger fluctuations and is considered to be riskier than BUFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIER	BUFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	3.43%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	15.16%	7.96%	+7.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	9.04%	+7.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	9.28%	+7.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	9.28%	+7.25%

TIER vs. BUFI - Expense Ratio Comparison

TIER has a 0.38% expense ratio, which is lower than BUFI's 0.69% expense ratio.

Dividends

TIER vs. BUFI - Dividend Comparison

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

Position	TTM	2025
BUFI AB International Buffer ETF	0.00%	0.00%
TIER T. Rowe Price International Equity Research ETF	0.66%	0.74%

Frequently Asked Questions

Can I hold both TIER and BUFI in my portfolio?

With a correlation of 0.91, TIER and BUFI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TIER or BUFI?

TIER has higher volatility (5.23%) compared to BUFI (3.43%). In terms of maximum drawdown, TIER dropped -12.07% vs BUFI's -7.43%.

Which ETF is better, TIER or BUFI?

On 1-year performance, TIER leads with 28.71% vs 14.79% for BUFI. On fees, TIER is cheaper at 0.38% per year. On volatility, BUFI has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TIER or BUFI?

Over the 1-year period, TIER has performed better with a 28.71% return vs 14.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIER or BUFI?

TIER is cheaper with a 0.38% expense ratio, compared with 0.69% for BUFI.

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

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

What is the main difference between TIER and BUFI?

TIER is categorized as Foreign Large Cap Equities, while BUFI is Defined Outcome. They also come from different issuers: T. Rowe Price and AllianceBernstein. Their fees differ too: 0.38% for TIER and 0.69% for BUFI.

Which has better risk-adjusted returns?

TIER currently has the higher Sharpe Ratio (1.67 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.