T. Rowe Price International Equity ETF (TOUS) is an actively managed exchange-traded fund that seeks long-term capital growth by investing primarily in a diversified portfolio of equities from non-U.S. and non-Canadian companies across developed and emerging markets worldwide; it normally allocates at least 80% of its net assets to stocks exhibiting quality business models, durable growth potential, high returns on invested capital, and attractive valuations, with a focus on large-cap blend strategies in the foreign large blend category. The fund holds approximately 190-191 securities, including top positions such as ASML Holding NV, AstraZeneca PLC, Rolls-Royce Holdings PLC, UniCredit SpA, and Siemens AG; it emphasizes sectors like financial services, industrials, healthcare, technology, and consumer defensive, with primary geographic exposure to the Eurozone, Japan, the United Kingdom, and other developed regions outside the U.S. Launched on June 14, 2023, and domiciled in the United States, TOUS operates under T. Rowe Price Exchange-Traded Funds, Inc., with management by T. Rowe Price Associates, Inc. and co-management by T. Rowe Price International Ltd., headquartered at 100 East Pratt Street, Baltimore, Maryland; the portfolio managers include Colin McQueen and Jodi Love since inception, joined by Richard Clattenburg and Jordan Pryor effective January 1, 2025, and it maintains a net expense ratio of 0.50% with total net assets exceeding $870 million as of late 2025. In recent developments, T. Rowe Price expanded its active ETF lineup with the launches of the T. Rowe Price Global Equity ETF (TGLB) and T. Rowe Price International Equity Research ETF (TIER) on June 26, 2025, bringing its international active ETF offerings to three alongside TOUS and enhancing access to global ex-U.S. equity strategies; the firm also announced plans in December 2025 to enter the European active ETF market in 2026, alongside new U.S. core equity ETFs (TACU and TACN), reflecting broader strategic growth in transparent active ETFs now totaling 24 funds.