AKAF vs. AVGE

Last updated Jul 11, 2026

AKAF (The Frontier Economic Fund) and AVGE (Avantis All Equity Markets ETF) are both Global Equities funds. AKAF is passively managed, while AVGE is actively managed. Over the past year, AKAF returned 23.31% vs 27.75% for AVGE. Their correlation of 0.85 suggests significant overlap in exposure. AKAF charges 0.20%/yr vs 0.23%/yr for AVGE.

Performance

AKAF vs. AVGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Frontier Economic Fund (AKAF) and Avantis All Equity Markets ETF (AVGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AKAF achieves a 10.10% return, which is significantly lower than AVGE's 16.33% return.

AKAF

• 1D: 0.38%
• 1M: 0.72%
• 6M: 4.18%
• YTD: 10.10%
• 1Y: 23.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGE

• 1D: 0.50%
• 1M: 3.49%
• 6M: 12.60%
• YTD: 16.33%
• 1Y: 27.75%
• 3Y*: 20.23%
• 5Y*: —
• 10Y*: —

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

AKAF vs. AVGE - Yearly Performance Comparison

	2026 (YTD)	2025
AKAF The Frontier Economic Fund	10.10%	17.17%
AVGE Avantis All Equity Markets ETF	16.33%	13.97%

Correlation

The correlation between AKAF and AVGE is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.85

The correlation between AKAF and AVGE has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.

Return for Risk

AKAF vs. AVGE — Risk / Return Rank

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

AKAF

AKAF Risk / Return Rank: 60
AKAF Sharpe Ratio Rank: 59
AKAF Sortino Ratio Rank: 58
AKAF Omega Ratio Rank: 59
AKAF Calmar Ratio Rank: 63
AKAF Martin Ratio Rank: 62

AVGE

AVGE Risk / Return Rank: 82
AVGE Sharpe Ratio Rank: 84
AVGE Sortino Ratio Rank: 83
AVGE Omega Ratio Rank: 82
AVGE Calmar Ratio Rank: 78
AVGE 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.

AKAF vs. AVGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Frontier Economic Fund (AKAF) and Avantis All Equity Markets ETF (AVGE). 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.

	AKAF	AVGE	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.13	-0.56
Sortino ratio: Return per unit of downside risk	2.23	2.96	-0.73
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.10
Calmar ratio: Return relative to maximum drawdown	2.51	3.24	-0.73
Martin ratio: Return relative to average drawdown	8.73	13.56	-4.83

AKAF vs. AVGE - Sharpe Ratio Comparison

The current AKAF Sharpe Ratio is 1.57, which is comparable to the AVGE Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of AKAF and AVGE, 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

AKAF vs. AVGE - Drawdown Comparison

The maximum AKAF drawdown since its inception was -9.32%, smaller than the maximum AVGE drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for AKAF and AVGE.

Drawdown Indicators

	AKAF	AVGE	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-17.13%	+7.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-8.60%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.13%	—
Current Drawdown Current decline from peak	-3.02%	-0.63%	-2.39%
Average Drawdown Average peak-to-trough decline	-1.74%	-2.38%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.05%	+0.63%

Volatility

AKAF vs. AVGE - Volatility Comparison

The Frontier Economic Fund (AKAF) and Avantis All Equity Markets ETF (AVGE) have volatilities of 4.40% and 4.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AKAF	AVGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.24%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	10.55%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.93%	13.09%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	15.21%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	15.21%	-0.44%

AKAF vs. AVGE - Expense Ratio Comparison

AKAF has a 0.20% expense ratio, which is lower than AVGE's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AKAF vs. AVGE - Dividend Comparison

AKAF's dividend yield for the trailing twelve months is around 3.00%, more than AVGE's 1.40% yield.

Position	TTM	2025	2024	2023	2022
AKAF The Frontier Economic Fund	3.00%	2.25%	0.00%	0.00%	0.00%
AVGE Avantis All Equity Markets ETF	1.40%	1.67%	1.92%	1.93%	0.74%

Frequently Asked Questions

Can I hold both AKAF and AVGE in my portfolio?

AKAF and AVGE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AKAF or AVGE?

AKAF has higher volatility (4.40%) compared to AVGE (4.24%). In terms of maximum drawdown, AKAF dropped -9.32% vs AVGE's -17.13%.

Which ETF is better, AKAF or AVGE?

On 1-year performance, AVGE leads with 27.75% vs 23.31% for AKAF. On fees, AKAF is cheaper at 0.20% per year. On volatility, AVGE has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AKAF or AVGE?

Over the 1-year period, AVGE has performed better with a 27.75% return vs 23.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AKAF or AVGE?

AKAF is cheaper with a 0.20% expense ratio, compared with 0.23% for AVGE.

Which ETF pays a higher dividend yield, AKAF or AVGE?

AKAF has the higher dividend yield at 3.00%, compared with 1.40% for AVGE.

What is the main difference between AKAF and AVGE?

They also come from different issuers: Prospr Aligned and Avantis. Their fees differ too: 0.20% for AKAF and 0.23% for AVGE.

Which has better risk-adjusted returns?

AVGE currently has the higher Sharpe Ratio (2.13 vs 1.57), 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.