TOUS vs. DBAW

Last updated Jun 24, 2026

TOUS (T. Rowe Price International Equity ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both Foreign Large Cap Equities funds. TOUS is actively managed, while DBAW is passively managed. Over the past 3 years, TOUS returned 17.54%/yr vs 21.48%/yr for DBAW. Their correlation of 0.86 suggests significant overlap in exposure. TOUS charges 0.50%/yr vs 0.41%/yr for DBAW.

Performance

TOUS vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price International Equity ETF (TOUS) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOUS achieves a 9.19% return, which is significantly lower than DBAW's 16.14% return.

TOUS

• 1D: -2.03%
• 1M: 0.43%
• YTD: 9.19%
• 6M: 8.90%
• 1Y: 21.91%
• 3Y*: 17.54%
• 5Y*: —
• 10Y*: —

DBAW

• 1D: -2.70%
• 1M: 2.62%
• YTD: 16.14%
• 6M: 16.41%
• 1Y: 35.60%
• 3Y*: 21.48%
• 5Y*: 11.25%
• 10Y*: 11.99%

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

TOUS vs. DBAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TOUS T. Rowe Price International Equity ETF	9.19%	34.00%	3.63%	3.45%
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	16.14%	26.47%	14.35%	3.98%

Correlation

The correlation between TOUS and DBAW is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.86

The correlation between TOUS and DBAW has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.

TOUS vs. DBAW - Sectors Allocation Comparison

Sectors	TOUS	DBAW
Financial Services	21.8%	23.2%
Industrials	19.1%	14.3%
Technology	15.0%	22.4%
Healthcare	9.7%	6.8%
Consumer Cyclical	7.4%	7.6%
Consumer Defensive	7.2%	5.0%
Basic Materials	5.4%	6.9%
Energy	4.9%	4.8%
Communication Services	4.9%	4.9%
Utilities	3.1%	2.9%
Real Estate	1.7%	1.4%

Return for Risk

TOUS vs. DBAW — Risk / Return Rank

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

TOUS

TOUS Risk / Return Rank: 41
TOUS Sharpe Ratio Rank: 42
TOUS Sortino Ratio Rank: 42
TOUS Omega Ratio Rank: 42
TOUS Calmar Ratio Rank: 38
TOUS Martin Ratio Rank: 42

DBAW

DBAW Risk / Return Rank: 83
DBAW Sharpe Ratio Rank: 84
DBAW Sortino Ratio Rank: 82
DBAW Omega Ratio Rank: 86
DBAW Calmar Ratio Rank: 80
DBAW Martin Ratio Rank: 84

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.

TOUS vs. DBAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity ETF (TOUS) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

	TOUS	DBAW	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.55	-1.17
Sortino ratio: Return per unit of downside risk	2.03	3.41	-1.37
Omega ratio: Gain probability vs. loss probability	1.26	1.49	-0.24
Calmar ratio: Return relative to maximum drawdown	1.80	3.98	-2.18
Martin ratio: Return relative to average drawdown	6.54	16.14	-9.60

TOUS vs. DBAW - Sharpe Ratio Comparison

The current TOUS Sharpe Ratio is 1.38, which is lower than the DBAW Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of TOUS and DBAW, 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

TOUS vs. DBAW - Drawdown Comparison

The maximum TOUS drawdown since its inception was -14.29%, smaller than the maximum DBAW drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for TOUS and DBAW.

Drawdown Indicators

	TOUS	DBAW	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-31.44%	+17.15%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-9.00%	-3.23%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	-14.11%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.44%	—
Current Drawdown Current decline from peak	-2.03%	-2.70%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.80%	-4.98%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.21%	+1.15%

Volatility

TOUS vs. DBAW - Volatility Comparison

The current volatility for T. Rowe Price International Equity ETF (TOUS) is 5.25%, while Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a volatility of 6.39%. This indicates that TOUS experiences smaller price fluctuations and is considered to be less risky than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOUS	DBAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	6.39%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	12.35%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	14.01%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	13.97%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	15.21%	+0.10%

TOUS vs. DBAW - Expense Ratio Comparison

TOUS has a 0.50% expense ratio, which is higher than DBAW's 0.41% expense ratio.

Dividends

TOUS vs. DBAW - Dividend Comparison

TOUS's dividend yield for the trailing twelve months is around 1.59%, less than DBAW's 1.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	1.69%	3.83%	1.70%	3.45%	8.81%	2.05%	2.08%	2.91%	2.93%	2.41%	1.99%	5.74%
TOUS T. Rowe Price International Equity ETF	1.59%	1.74%	3.01%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOUS and DBAW in my portfolio?

TOUS and DBAW have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOUS or DBAW?

DBAW has higher volatility (6.39%) compared to TOUS (5.25%). In terms of maximum drawdown, TOUS dropped -14.29% vs DBAW's -31.44%.

Which ETF is better, TOUS or DBAW?

On 3-year performance, DBAW leads with 21.48% vs 17.54% for TOUS. On fees, DBAW is cheaper at 0.41% per year. On volatility, TOUS has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOUS or DBAW?

Over the 3-year period, DBAW has performed better with a 21.48% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOUS or DBAW?

DBAW is cheaper with a 0.41% expense ratio, compared with 0.50% for TOUS.

Which ETF pays a higher dividend yield, TOUS or DBAW?

DBAW has the higher dividend yield at 1.69%, compared with 1.59% for TOUS.

What is the main difference between TOUS and DBAW?

They also come from different issuers: T. Rowe Price and Deutsche Bank. Their fees differ too: 0.50% for TOUS and 0.41% for DBAW.

Which has better risk-adjusted returns?

DBAW currently has the higher Sharpe Ratio (2.55 vs 1.38), 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.