TIER vs. TGRW

Last updated Aug 2, 2026

TIER (T. Rowe Price International Equity Research ETF) and TGRW (T. Rowe Price Growth Stock ETF) are both exchange-traded funds - TIER is a Foreign Large Cap Equities fund actively managed by T. Rowe Price, while TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, TIER returned 28.71% vs 8.07% for TGRW. Their 0.68 correlation means they have sometimes moved together and sometimes differently. TIER charges 0.38%/yr vs 0.52%/yr for TGRW.

Performance

TIER vs. TGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price International Equity Research ETF (TIER) and T. Rowe Price Growth Stock ETF (TGRW). 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 TGRW's -0.41% return.

TIER

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

TGRW

• 1D: 1.18%
• 1M: -2.97%
• 6M: 2.03%
• YTD: -0.41%
• 1Y: 8.07%
• 3Y*: 17.00%
• 5Y*: 6.77%
• 10Y*: —
• ALL TIME*: 10.68%

*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)
TGRW T. Rowe Price Growth Stock ETF	$159.62K	$239.67K	$596.13K
TIER T. Rowe Price International Equity Research ETF	$89.46K	$365.95K	$202.50K

TIER vs. TGRW - Yearly Performance Comparison

	2026 (YTD)	2025
TIER T. Rowe Price International Equity Research ETF	13.45%	12.72%
TGRW T. Rowe Price Growth Stock ETF	-0.41%	12.17%

Correlation

The correlation between TIER and TGRW is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.68

The correlation between TIER and TGRW has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.

TIER vs. TGRW - Sectors Allocation Comparison

Sectors	TIER	TGRW
Financial Services	24.7%	5.5%
Technology	24.4%	51.7%
Industrials	13.4%	8.3%
Consumer Cyclical	7.7%	8.3%
Basic Materials	6.6%	0.6%
Healthcare	5.8%	6.5%
Communication Services	5.1%	18.3%
Energy	4.6%	-
Consumer Defensive	4.4%	0.2%
Utilities	2.5%	-
Real Estate	0.9%	0.6%

Return for Risk

TIER vs. TGRW — 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

TGRW

TGRW Risk / Return Rank: 17
TGRW Sharpe Ratio Rank: 18
TGRW Sortino Ratio Rank: 17
TGRW Omega Ratio Rank: 17
TGRW Calmar Ratio Rank: 16
TGRW Martin Ratio Rank: 17

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. TGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity Research ETF (TIER) and T. Rowe Price Growth Stock ETF (TGRW). 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	TGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.30	+1.36
Sortino ratio: Return per unit of downside risk	2.34	0.55	+1.80
Omega ratio: Gain probability vs. loss probability	1.31	1.06	+0.25
Calmar ratio: Return relative to maximum drawdown	2.34	0.29	+2.05
Martin ratio: Return relative to average drawdown	8.83	0.86	+7.97

TIER vs. TGRW - Sharpe Ratio Comparison

The current TIER Sharpe Ratio is 1.67, which is higher than the TGRW Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of TIER and TGRW, 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. TGRW - Drawdown Comparison

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

Drawdown Indicators

	TIER	TGRW	Difference
Max Drawdown Largest peak-to-trough decline	-12.07%	-43.33%	+31.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-18.84%	+6.77%
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	-2.63%	-7.58%	+4.95%
Average Drawdown Average peak-to-trough decline	-1.91%	-12.29%	+10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	6.43%	-3.23%

Volatility

TIER vs. TGRW - Volatility Comparison

The current volatility for T. Rowe Price International Equity Research ETF (TIER) is 5.23%, while T. Rowe Price Growth Stock ETF (TGRW) has a volatility of 5.82%. This indicates that TIER experiences smaller price fluctuations and is considered to be less risky than TGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIER	TGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	5.82%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	15.16%	14.41%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	18.24%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	23.49%	-6.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	22.99%	-6.46%

TIER vs. TGRW - Expense Ratio Comparison

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

Dividends

TIER vs. TGRW - Dividend Comparison

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

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 TIER and TGRW in my portfolio?

TIER and TGRW have a correlation of 0.71, 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 TGRW?

TGRW has higher volatility (5.82%) compared to TIER (5.23%). In terms of maximum drawdown, TIER dropped -12.07% vs TGRW's -43.33%.

Which ETF is better, TIER or TGRW?

On 1-year performance, TIER leads with 28.71% vs 8.07% for TGRW. 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 TGRW?

Over the 1-year period, TIER has performed better with a 28.71% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIER or TGRW?

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

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

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

What is the main difference between TIER and TGRW?

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

Which has better risk-adjusted returns?

TIER currently has the higher Sharpe Ratio (1.67 vs 0.30), 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.