TIER vs. EPIN

Last updated Aug 2, 2026

TIER (T. Rowe Price International Equity Research ETF) and EPIN (Harbor International Equity ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, TIER returned 28.71% vs 38.00% for EPIN. Their correlation of 0.92 means they have usually moved in the same direction. TIER charges 0.38%/yr vs 0.80%/yr for EPIN.

Performance

TIER vs. EPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price International Equity Research ETF (TIER) and Harbor International Equity ETF (EPIN). 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 lower than EPIN's 23.34% return.

TIER

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

EPIN

• 1D: 0.40%
• 1M: -0.70%
• 6M: 14.34%
• YTD: 23.34%
• 1Y: 38.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.77%

*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)
EPIN Harbor International Equity ETF	$41.81K	$24.58K	$20.32K
TIER T. Rowe Price International Equity Research ETF	$89.46K	$365.95K	$202.50K

TIER vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
TIER T. Rowe Price International Equity Research ETF	13.45%	12.72%
EPIN Harbor International Equity ETF	23.34%	13.21%

Correlation

The correlation between TIER and EPIN is 0.92, 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.	0.92
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.92

The correlation between TIER and EPIN has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

TIER vs. EPIN - Sectors Allocation Comparison

Sectors	TIER	EPIN
Financial Services	24.7%	19.1%
Technology	24.4%	29.6%
Industrials	13.4%	20.6%
Consumer Cyclical	7.7%	7.0%
Basic Materials	6.6%	7.1%
Healthcare	5.8%	8.2%
Communication Services	5.1%	1.0%
Energy	4.6%	3.8%
Consumer Defensive	4.4%	3.6%
Utilities	2.5%	-
Real Estate	0.9%	-

Return for Risk

TIER vs. EPIN — 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

EPIN

EPIN Risk / Return Rank: 83
EPIN Sharpe Ratio Rank: 83
EPIN Sortino Ratio Rank: 81
EPIN Omega Ratio Rank: 82
EPIN Calmar Ratio Rank: 84
EPIN Martin Ratio Rank: 84

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. EPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity Research ETF (TIER) and Harbor International Equity ETF (EPIN). 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	EPIN	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.95	-0.28
Sortino ratio: Return per unit of downside risk	2.34	2.66	-0.31
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	2.34	3.20	-0.86
Martin ratio: Return relative to average drawdown	8.83	11.52	-2.69

TIER vs. EPIN - Sharpe Ratio Comparison

The current TIER Sharpe Ratio is 1.67, which is comparable to the EPIN Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of TIER and EPIN, 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. EPIN - Drawdown Comparison

The maximum TIER drawdown since its inception was -12.07%, roughly equal to the maximum EPIN drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for TIER and EPIN.

Drawdown Indicators

	TIER	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-12.07%	-11.64%	-0.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-11.64%	-0.43%
Current Drawdown Current decline from peak	-2.63%	-2.49%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.91%	-1.93%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	3.23%	-0.03%

Volatility

TIER vs. EPIN - Volatility Comparison

The current volatility for T. Rowe Price International Equity Research ETF (TIER) is 5.23%, while Harbor International Equity ETF (EPIN) has a volatility of 5.55%. This indicates that TIER experiences smaller price fluctuations and is considered to be less risky than EPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIER	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	5.55%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	15.16%	16.99%	-1.83%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	19.13%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	18.37%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	18.37%	-1.84%

TIER vs. EPIN - Expense Ratio Comparison

TIER has a 0.38% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

TIER vs. EPIN - Dividend Comparison

TIER's dividend yield for the trailing twelve months is around 0.66%, more than EPIN's 0.64% yield.

Position	TTM	2025
EPIN Harbor International Equity ETF	0.64%	0.79%
TIER T. Rowe Price International Equity Research ETF	0.66%	0.74%

Frequently Asked Questions

Can I hold both TIER and EPIN in my portfolio?

With a correlation of 0.92, TIER and EPIN 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 EPIN?

EPIN has higher volatility (5.55%) compared to TIER (5.23%). In terms of maximum drawdown, TIER dropped -12.07% vs EPIN's -11.64%.

Which ETF is better, TIER or EPIN?

On 1-year performance, EPIN leads with 38.00% vs 28.71% for TIER. On fees, TIER is cheaper at 0.38% per year. On volatility, TIER has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TIER or EPIN?

Over the 1-year period, EPIN has performed better with a 38.00% return vs 28.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIER or EPIN?

TIER is cheaper with a 0.38% expense ratio, compared with 0.80% for EPIN.

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

TIER has the higher dividend yield at 0.66%, compared with 0.64% for EPIN.

What is the main difference between TIER and EPIN?

They also come from different issuers: T. Rowe Price and Harbor. Their fees differ too: 0.38% for TIER and 0.80% for EPIN.

Which has better risk-adjusted returns?

EPIN currently has the higher Sharpe Ratio (1.95 vs 1.67), 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.