How Active ETF TACN Captures Global Stock Growth

T. Rowe Price’s new report urges investors to increase exposure to international equities, arguing they offer cheaper valuations, improving earnings and broader opportunity versus a U.S. market heavily concentrated in mega-cap tech. The firm highlights the “Magnificent Seven” now account for 32% of the S&P 500, amplifying single-sector risk, while developed international stocks trade at a roughly 23% forward P/E discount to the S&P 500 (as of March 31). T. Rowe Price is also promoting active management via its TACN ETF (launched Dec 2025), noting a 0% fee waiver and 8.48% YTD return. The report implies potential portfolio rebalancing toward international markets could enhance diversification and long-term returns.