AVDVX vs. VFSNX

Last updated Jun 4, 2026

AVDVX (Avantis International Small Cap Value Fund) and VFSNX (Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, AVDVX returned 14.15%/yr vs 6.19%/yr for VFSNX. Their correlation of 0.94 suggests significant overlap in exposure. AVDVX charges 0.36%/yr vs 0.11%/yr for VFSNX.

Performance

AVDVX vs. VFSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value Fund (AVDVX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVDVX achieves a 17.18% return, which is significantly higher than VFSNX's 11.76% return.

AVDVX

• 1D: 0.21%
• 1M: 3.96%
• YTD: 17.18%
• 6M: 20.98%
• 1Y: 45.11%
• 3Y*: 28.14%
• 5Y*: 14.15%
• 10Y*: —

VFSNX

• 1D: 0.05%
• 1M: 1.81%
• YTD: 11.76%
• 6M: 14.55%
• 1Y: 28.61%
• 3Y*: 17.18%
• 5Y*: 6.19%
• 10Y*: 8.21%

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

AVDVX vs. VFSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVDVX Avantis International Small Cap Value Fund	17.18%	48.24%	8.41%	16.75%	-10.88%	15.46%	5.65%	5.61%
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares	11.76%	29.97%	2.63%	15.18%	-21.26%	12.74%	11.92%	4.82%

Correlation

The correlation between AVDVX and VFSNX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.94

The correlation between AVDVX and VFSNX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

AVDVX vs. VFSNX — Risk / Return Rank

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

AVDVX

AVDVX Risk / Return Rank: 80
AVDVX Sharpe Ratio Rank: 89
AVDVX Sortino Ratio Rank: 82
AVDVX Omega Ratio Rank: 80
AVDVX Calmar Ratio Rank: 76
AVDVX Martin Ratio Rank: 71

VFSNX

VFSNX Risk / Return Rank: 47
VFSNX Sharpe Ratio Rank: 51
VFSNX Sortino Ratio Rank: 47
VFSNX Omega Ratio Rank: 50
VFSNX Calmar Ratio Rank: 42
VFSNX Martin Ratio Rank: 45

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.

AVDVX vs. VFSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value Fund (AVDVX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX). 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.

	AVDVX	VFSNX	Difference
Sharpe ratio Return per unit of total volatility	2.92	2.11	+0.81
Sortino ratio Return per unit of downside risk	3.88	2.89	+0.99
Omega ratio Gain probability vs. loss probability	1.52	1.39	+0.14
Calmar ratio Return relative to maximum drawdown	3.44	2.46	+0.98
Martin ratio Return relative to average drawdown	13.67	9.47	+4.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVDVX vs. VFSNX - Sharpe Ratio Comparison

The current AVDVX Sharpe Ratio is 2.92, which is higher than the VFSNX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of AVDVX and VFSNX, 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

	AVDVX	VFSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	2.11	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.41	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.59	+0.20

Drawdowns

AVDVX vs. VFSNX - Drawdown Comparison

The maximum AVDVX drawdown since its inception was -43.06%, roughly equal to the maximum VFSNX drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for AVDVX and VFSNX.

Drawdown Indicators

	AVDVX	VFSNX	Difference
Max Drawdown Largest peak-to-trough decline	-43.06%	-43.65%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-11.47%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-14.70%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-27.37%	-33.75%	+6.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.65%	—
Current Drawdown Current decline from peak	-0.78%	-1.09%	+0.31%
Average Drawdown Average peak-to-trough decline	-6.72%	-9.49%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.98%	+0.26%

Volatility

AVDVX vs. VFSNX - Volatility Comparison

Avantis International Small Cap Value Fund (AVDVX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) have volatilities of 4.50% and 4.30%, 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

	AVDVX	VFSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.30%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	11.19%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	13.40%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	15.03%	+1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.41%	15.76%	+3.65%

AVDVX vs. VFSNX - Expense Ratio Comparison

AVDVX has a 0.36% expense ratio, which is higher than VFSNX's 0.11% expense ratio.

Dividends

AVDVX vs. VFSNX - Dividend Comparison

AVDVX's dividend yield for the trailing twelve months is around 8.94%, more than VFSNX's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDVX Avantis International Small Cap Value Fund	8.94%	10.48%	4.35%	3.52%	3.33%	4.23%	1.35%	0.39%	0.00%	0.00%	0.00%	0.00%
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares	3.01%	3.36%	3.41%	3.11%	2.26%	2.70%	1.90%	3.25%	2.81%	2.85%	2.93%	2.69%

Frequently Asked Questions

Can I hold both AVDVX and VFSNX in my portfolio?

With a correlation of 0.92, AVDVX and VFSNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVDVX or VFSNX?

AVDVX has higher volatility (4.50%) compared to VFSNX (4.30%). In terms of maximum drawdown, AVDVX dropped -43.06% vs VFSNX's -43.65%.

Which has better risk-adjusted returns?

AVDVX currently has the higher Sharpe Ratio (2.92 vs 2.11), 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.