AVEE vs. AVSE

Last updated Jun 5, 2026

AVEE (Avantis Emerging Markets Small Cap Equity ETF) and AVSE (Avantis Responsible Emerging Markets Equity ETF) are both Emerging Markets Diversified funds from Avantis. AVEE is actively managed, while AVSE is passively managed. Over the past year, AVEE returned 25.84% vs 49.20% for AVSE. Their correlation of 0.92 suggests significant overlap in exposure. AVEE charges 0.42%/yr vs 0.33%/yr for AVSE.

Performance

AVEE vs. AVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Small Cap Equity ETF (AVEE) and Avantis Responsible Emerging Markets Equity ETF (AVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEE achieves a 14.52% return, which is significantly lower than AVSE's 25.99% return.

AVEE

• 1D: 0.61%
• 1M: -0.58%
• YTD: 14.52%
• 6M: 15.13%
• 1Y: 25.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVSE

• 1D: -0.73%
• 1M: 6.45%
• YTD: 25.99%
• 6M: 28.16%
• 1Y: 49.20%
• 3Y*: 25.30%
• 5Y*: —
• 10Y*: —

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

AVEE vs. AVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVEE Avantis Emerging Markets Small Cap Equity ETF	14.52%	19.80%	2.91%	7.28%
AVSE Avantis Responsible Emerging Markets Equity ETF	25.99%	32.54%	8.29%	8.96%

Correlation

The correlation between AVEE and AVSE 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 (All Time) Calculated using the full available price history since Nov 10, 2023	0.92

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

AVEE vs. AVSE - Sectors Allocation Comparison

Sectors	AVEE	AVSE
Technology	22.5%	34.8%
Industrials	18.2%	8.2%
Consumer Cyclical	11.3%	12.3%
Basic Materials	9.5%	3.3%
Financial Services	9.3%	24.2%
Healthcare	6.9%	3.9%
Consumer Defensive	5.4%	2.7%
Real Estate	4.2%	2.6%
Utilities	2.9%	1.3%
Communication Services	2.8%	6.5%
Energy	2.2%	0.1%

Return for Risk

AVEE vs. AVSE — Risk / Return Rank

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

AVEE

AVEE Risk / Return Rank: 46
AVEE Sharpe Ratio Rank: 46
AVEE Sortino Ratio Rank: 44
AVEE Omega Ratio Rank: 45
AVEE Calmar Ratio Rank: 50
AVEE Martin Ratio Rank: 48

AVSE

AVSE Risk / Return Rank: 76
AVSE Sharpe Ratio Rank: 79
AVSE Sortino Ratio Rank: 76
AVSE Omega Ratio Rank: 78
AVSE Calmar Ratio Rank: 71
AVSE Martin Ratio Rank: 75

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.

AVEE vs. AVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Small Cap Equity ETF (AVEE) and Avantis Responsible Emerging Markets Equity ETF (AVSE). 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.

	AVEE	AVSE	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.53	-0.98
Sortino ratio: Return per unit of downside risk	2.16	3.36	-1.20
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.44	3.49	-1.05
Martin ratio: Return relative to average drawdown	7.81	13.87	-6.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVEE vs. AVSE - Sharpe Ratio Comparison

The current AVEE Sharpe Ratio is 1.55, which is lower than the AVSE Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of AVEE and AVSE, 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

	AVEE	AVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.53	-0.98
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.85	+0.22

Drawdowns

AVEE vs. AVSE - Drawdown Comparison

The maximum AVEE drawdown since its inception was -20.21%, smaller than the maximum AVSE drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for AVEE and AVSE.

Drawdown Indicators

	AVEE	AVSE	Difference
Max Drawdown Largest peak-to-trough decline	-20.21%	-26.28%	+6.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.65%	-14.17%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.68%	—
Current Drawdown Current decline from peak	-1.97%	-2.17%	+0.20%
Average Drawdown Average peak-to-trough decline	-3.67%	-6.81%	+3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.56%	-0.24%

Volatility

AVEE vs. AVSE - Volatility Comparison

The current volatility for Avantis Emerging Markets Small Cap Equity ETF (AVEE) is 6.43%, while Avantis Responsible Emerging Markets Equity ETF (AVSE) has a volatility of 8.49%. This indicates that AVEE experiences smaller price fluctuations and is considered to be less risky than AVSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEE	AVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	8.49%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	16.81%	-2.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	19.55%	-2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	18.03%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	18.03%	-1.42%

AVEE vs. AVSE - Expense Ratio Comparison

AVEE has a 0.42% expense ratio, which is higher than AVSE's 0.33% expense ratio.

Dividends

AVEE vs. AVSE - Dividend Comparison

AVEE's dividend yield for the trailing twelve months is around 2.02%, less than AVSE's 2.19% yield.

Position	TTM	2025	2024	2023	2022
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.02%	2.25%	3.26%	0.39%	0.00%
AVSE Avantis Responsible Emerging Markets Equity ETF	2.19%	2.68%	3.03%	3.20%	1.27%

Frequently Asked Questions

Can I hold both AVEE and AVSE in my portfolio?

With a correlation of 0.92, AVEE and AVSE 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, AVEE or AVSE?

AVSE has higher volatility (8.49%) compared to AVEE (6.43%). In terms of maximum drawdown, AVEE dropped -20.21% vs AVSE's -26.28%.

Which ETF is better, AVEE or AVSE?

On 1-year performance, AVSE leads with 49.20% vs 25.84% for AVEE. On fees, AVSE is cheaper at 0.33% per year. On volatility, AVEE has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVEE or AVSE?

Over the 1-year period, AVSE has performed better with a 49.20% return vs 25.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVEE or AVSE?

AVSE is cheaper with a 0.33% expense ratio, compared with 0.42% for AVEE.

Which ETF pays a higher dividend yield, AVEE or AVSE?

AVSE has the higher dividend yield at 2.19%, compared with 2.02% for AVEE.

What is the main difference between AVEE and AVSE?

Their fees differ too: 0.42% for AVEE and 0.33% for AVSE.

Which has better risk-adjusted returns?

AVSE currently has the higher Sharpe Ratio (2.53 vs 1.55), 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.