AVDE vs. AVES

Last updated Jun 4, 2026

AVDE (Avantis International Equity ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - AVDE is a Foreign Large Cap Equities fund tracking the MSCI World ex-USA IMI Index, while AVES is a Emerging Markets Equities fund actively managed by American Century. AVDE is passively managed, while AVES is actively managed. Over the past 3 years, AVDE returned 20.15%/yr vs 20.73%/yr for AVES. A 0.78 correlation means they provide meaningful diversification when combined. AVDE charges 0.23%/yr vs 0.36%/yr for AVES.

Performance

AVDE vs. AVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Equity ETF (AVDE) and Avantis Emerging Markets Value ETF (AVES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVDE achieves a 10.55% return, which is significantly lower than AVES's 16.79% return.

AVDE

• 1D: -0.87%
• 1M: 3.07%
• YTD: 10.55%
• 6M: 13.51%
• 1Y: 27.80%
• 3Y*: 20.15%
• 5Y*: 9.92%
• 10Y*: —

AVES

• 1D: -1.23%
• 1M: 4.98%
• YTD: 16.79%
• 6M: 19.15%
• 1Y: 37.50%
• 3Y*: 20.73%
• 5Y*: —
• 10Y*: —

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

AVDE vs. AVES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVDE Avantis International Equity ETF	10.55%	38.05%	4.88%	17.18%	-13.68%	2.85%
AVES Avantis Emerging Markets Value ETF	16.79%	30.49%	4.50%	16.79%	-16.04%	1.32%

Correlation

The correlation between AVDE and AVES is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.78

The correlation between AVDE and AVES has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

AVDE vs. AVES - Sectors Allocation Comparison

Sectors	AVDE	AVES
Financial Services	23.8%	25.3%
Industrials	20.3%	13.3%
Basic Materials	11.2%	9.8%
Consumer Cyclical	9.3%	9.6%
Energy	8.0%	4.0%
Technology	7.1%	21.4%
Healthcare	5.8%	2.1%
Consumer Defensive	4.6%	3.2%
Utilities	4.4%	1.7%
Communication Services	3.8%	5.3%
Real Estate	1.7%	2.4%

Return for Risk

AVDE vs. AVES — Risk / Return Rank

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

AVDE

AVDE Risk / Return Rank: 54
AVDE Sharpe Ratio Rank: 55
AVDE Sortino Ratio Rank: 55
AVDE Omega Ratio Rank: 55
AVDE Calmar Ratio Rank: 48
AVDE Martin Ratio Rank: 55

AVES

AVES Risk / Return Rank: 61
AVES Sharpe Ratio Rank: 64
AVES Sortino Ratio Rank: 60
AVES Omega Ratio Rank: 65
AVES Calmar Ratio Rank: 58
AVES Martin Ratio Rank: 60

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.

AVDE vs. AVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Equity ETF (AVDE) and Avantis Emerging Markets Value ETF (AVES). 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.

	AVDE	AVES	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.19	-0.26
Sortino ratio: Return per unit of downside risk	2.70	2.90	-0.20
Omega ratio: Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	2.43	2.92	-0.49
Martin ratio: Return relative to average drawdown	9.60	10.84	-1.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVDE vs. AVES - Sharpe Ratio Comparison

The current AVDE Sharpe Ratio is 1.93, which is comparable to the AVES Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of AVDE and AVES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVDE	AVES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.19	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.61	+0.03

Drawdowns

AVDE vs. AVES - Drawdown Comparison

The maximum AVDE drawdown since its inception was -36.99%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for AVDE and AVES.

Drawdown Indicators

	AVDE	AVES	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-27.40%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-12.90%	+1.42%
Max Drawdown (3Y) Largest decline over 3 years	-13.46%	-18.50%	+5.04%
Max Drawdown (5Y) Largest decline over 5 years	-28.73%	—	—
Current Drawdown Current decline from peak	-1.38%	-1.36%	-0.02%
Average Drawdown Average peak-to-trough decline	-6.17%	-7.73%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.47%	-0.57%

Volatility

AVDE vs. AVES - Volatility Comparison

The current volatility for Avantis International Equity ETF (AVDE) is 4.70%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 6.93%. This indicates that AVDE experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVDE	AVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	6.93%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	14.44%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.48%	17.19%	-2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	16.98%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	16.98%	+1.92%

AVDE vs. AVES - Expense Ratio Comparison

AVDE has a 0.23% expense ratio, which is lower than AVES's 0.36% expense ratio.

Dividends

AVDE vs. AVES - Dividend Comparison

AVDE's dividend yield for the trailing twelve months is around 2.52%, less than AVES's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDE Avantis International Equity ETF	2.52%	2.66%	3.29%	3.01%	2.79%	2.46%	1.63%	0.29%
AVES Avantis Emerging Markets Value ETF	2.81%	3.17%	4.09%	3.96%	3.70%	0.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVDE and AVES in my portfolio?

AVDE and AVES have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVDE or AVES?

AVES has higher volatility (6.93%) compared to AVDE (4.70%). In terms of maximum drawdown, AVDE dropped -36.99% vs AVES's -27.40%.

Which ETF is better, AVDE or AVES?

On 3-year performance, AVES leads with 20.73% vs 20.15% for AVDE. On fees, AVDE is cheaper at 0.23% per year. On volatility, AVDE has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVDE or AVES?

Over the 3-year period, AVES has performed better with a 20.73% return vs 20.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVDE or AVES?

AVDE is cheaper with a 0.23% expense ratio, compared with 0.36% for AVES.

Which ETF pays a higher dividend yield, AVDE or AVES?

AVES has the higher dividend yield at 2.81%, compared with 2.52% for AVDE.

What is the main difference between AVDE and AVES?

AVDE is categorized as Foreign Large Cap Equities, while AVES is Emerging Markets Equities. Their fees differ too: 0.23% for AVDE and 0.36% for AVES.

Which has better risk-adjusted returns?

AVES currently has the higher Sharpe Ratio (2.19 vs 1.93), 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.