TIER vs. DWMF

Last updated Jul 12, 2026

TIER (T. Rowe Price International Equity Research ETF) and DWMF (WisdomTree International Multifactor Fund) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, TIER returned 28.04% vs 12.19% for DWMF. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.38% expense ratio.

Performance

TIER vs. DWMF - Performance Comparison

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

Returns By Period

In the year-to-date period, TIER achieves a 14.16% return, which is significantly higher than DWMF's 6.00% return.

TIER

• 1D: 0.13%
• 1M: 0.33%
• 6M: 10.39%
• YTD: 14.16%
• 1Y: 28.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWMF

• 1D: 0.75%
• 1M: 0.38%
• 6M: 3.78%
• YTD: 6.00%
• 1Y: 12.19%
• 3Y*: 14.87%
• 5Y*: 8.81%
• 10Y*: —

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

TIER vs. DWMF - Yearly Performance Comparison

	2026 (YTD)	2025
TIER T. Rowe Price International Equity Research ETF	14.16%	12.72%
DWMF WisdomTree International Multifactor Fund	6.00%	6.28%

Correlation

The correlation between TIER and DWMF is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.78

The correlation between TIER and DWMF has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

TIER vs. DWMF - Sectors Allocation Comparison

Sectors	TIER	DWMF
Technology	23.7%	4.5%
Financial Services	23.6%	19.9%
Industrials	13.7%	19.1%
Consumer Cyclical	7.4%	5.8%
Basic Materials	7.3%	3.9%
Healthcare	5.9%	9.1%
Communication Services	5.2%	9.4%
Energy	5.1%	1.9%
Consumer Defensive	4.6%	11.3%
Utilities	2.5%	8.9%
Real Estate	1.1%	6.3%

Return for Risk

TIER vs. DWMF — Risk / Return Rank

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

TIER

TIER Risk / Return Rank: 61
TIER Sharpe Ratio Rank: 61
TIER Sortino Ratio Rank: 61
TIER Omega Ratio Rank: 63
TIER Calmar Ratio Rank: 56
TIER Martin Ratio Rank: 62

DWMF

DWMF Risk / Return Rank: 30
DWMF Sharpe Ratio Rank: 31
DWMF Sortino Ratio Rank: 30
DWMF Omega Ratio Rank: 30
DWMF Calmar Ratio Rank: 31
DWMF Martin Ratio Rank: 29

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.

TIER vs. DWMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity Research ETF (TIER) and WisdomTree International Multifactor Fund (DWMF). 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	DWMF	Difference
Sharpe ratio: Return per unit of total volatility	1.63	0.94	+0.69
Sortino ratio: Return per unit of downside risk	2.29	1.39	+0.90
Omega ratio: Gain probability vs. loss probability	1.31	1.17	+0.13
Calmar ratio: Return relative to maximum drawdown	2.25	1.28	+0.97
Martin ratio: Return relative to average drawdown	8.71	3.40	+5.31

TIER vs. DWMF - Sharpe Ratio Comparison

The current TIER Sharpe Ratio is 1.63, which is higher than the DWMF Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of TIER and DWMF, 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. DWMF - Drawdown Comparison

The maximum TIER drawdown since its inception was -12.07%, smaller than the maximum DWMF drawdown of -29.72%. Use the drawdown chart below to compare losses from any high point for TIER and DWMF.

Drawdown Indicators

	TIER	DWMF	Difference
Max Drawdown Largest peak-to-trough decline	-12.07%	-29.72%	+17.65%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-8.74%	-3.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.00%	—
Current Drawdown Current decline from peak	-2.02%	-3.36%	+1.34%
Average Drawdown Average peak-to-trough decline	-1.81%	-3.90%	+2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	3.28%	-0.17%

Volatility

TIER vs. DWMF - Volatility Comparison

T. Rowe Price International Equity Research ETF (TIER) has a higher volatility of 6.14% compared to WisdomTree International Multifactor Fund (DWMF) at 5.05%. This indicates that TIER's price experiences larger fluctuations and is considered to be riskier than DWMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIER	DWMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	5.05%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	14.72%	9.93%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	16.67%	11.91%	+4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	11.40%	+5.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.43%	14.14%	+2.29%

TIER vs. DWMF - Expense Ratio Comparison

Both TIER and DWMF have an expense ratio of 0.38%.

Dividends

TIER vs. DWMF - Dividend Comparison

TIER's dividend yield for the trailing twelve months is around 0.65%, less than DWMF's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWMF WisdomTree International Multifactor Fund	3.09%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%
TIER T. Rowe Price International Equity Research ETF	0.65%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIER and DWMF in my portfolio?

TIER and DWMF have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIER or DWMF?

TIER has higher volatility (6.14%) compared to DWMF (5.05%). In terms of maximum drawdown, TIER dropped -12.07% vs DWMF's -29.72%.

Which ETF is better, TIER or DWMF?

On 1-year performance, TIER leads with 28.04% vs 12.19% for DWMF. Both ETFs have the same 0.38% expense ratio. On volatility, DWMF has been the lower-risk option at 5.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TIER or DWMF?

Over the 1-year period, TIER has performed better with a 28.04% return vs 12.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIER or DWMF?

TIER and DWMF have the same expense ratio: 0.38% per year.

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

DWMF has the higher dividend yield at 3.09%, compared with 0.65% for TIER.

What is the main difference between TIER and DWMF?

They also come from different issuers: T. Rowe Price and WisdomTree.

Which has better risk-adjusted returns?

TIER currently has the higher Sharpe Ratio (1.63 vs 0.94), 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.