AVEE vs. DEMSX

Last updated Apr 2, 2026

Compare and contrast key facts about Avantis Emerging Markets Small Cap Equity ETF (AVEE) and DFA Emerging Markets Small Cap Portfolio (DEMSX).

AVEE is an actively managed fund by Avantis. It was launched on Nov 7, 2023. DEMSX is managed by Dimensional. It was launched on Mar 4, 1998.

Performance

AVEE vs. DEMSX - Performance Comparison

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

AVEE vs. DEMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.78%	19.80%	2.91%	7.28%
DEMSX DFA Emerging Markets Small Cap Portfolio	-0.04%	19.01%	4.92%	7.92%

Returns By Period

In the year-to-date period, AVEE achieves a 2.78% return, which is significantly higher than DEMSX's -0.04% return.

AVEE

• 1D: 1.07%
• 1M: -5.03%
• YTD: 2.78%
• 6M: 1.05%
• 1Y: 24.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DEMSX

• 1D: 1.07%
• 1M: -7.71%
• YTD: -0.04%
• 6M: -1.04%
• 1Y: 19.82%
• 3Y*: 11.56%
• 5Y*: 6.32%
• 10Y*: 8.18%

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

AVEE vs. DEMSX - Expense Ratio Comparison

AVEE has a 0.42% expense ratio, which is lower than DEMSX's 0.59% expense ratio.

DEMSX

DFA Emerging Markets Small Cap Portfolio

AVEE

Avantis Emerging Markets Small Cap Equity ETF

Return for Risk

AVEE vs. DEMSX — Risk / Return Rank

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

AVEE

AVEE Risk / Return Rank: 72
AVEE Sharpe Ratio Rank: 75
AVEE Sortino Ratio Rank: 72
AVEE Omega Ratio Rank: 70
AVEE Calmar Ratio Rank: 75
AVEE Martin Ratio Rank: 69

DEMSX

DEMSX Risk / Return Rank: 73
DEMSX Sharpe Ratio Rank: 81
DEMSX Sortino Ratio Rank: 78
DEMSX Omega Ratio Rank: 75
DEMSX Calmar Ratio Rank: 70
DEMSX Martin Ratio Rank: 64

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. DEMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Small Cap Equity ETF (AVEE) and DFA Emerging Markets Small Cap Portfolio (DEMSX). 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	DEMSX	Difference
Sharpe ratio Return per unit of total volatility	1.40	1.55	-0.15
Sortino ratio Return per unit of downside risk	1.88	2.02	-0.14
Omega ratio Gain probability vs. loss probability	1.27	1.29	-0.03
Calmar ratio Return relative to maximum drawdown	2.06	1.70	+0.36
Martin ratio Return relative to average drawdown	7.31	6.28	+1.03
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. DEMSX - Sharpe Ratio Comparison

The current AVEE Sharpe Ratio is 1.40, which is comparable to the DEMSX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of AVEE and DEMSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AVEE	DEMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.55	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.59	+0.27

Correlation

The correlation between AVEE and DEMSX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AVEE vs. DEMSX - Dividend Comparison

AVEE's dividend yield for the trailing twelve months is around 2.25%, less than DEMSX's 3.82% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.25%	2.25%	3.26%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DEMSX DFA Emerging Markets Small Cap Portfolio	3.82%	3.79%	3.27%	2.94%	4.47%	10.20%	2.25%	3.11%	5.02%	3.41%	3.74%	3.24%

Drawdowns

AVEE vs. DEMSX - Drawdown Comparison

The maximum AVEE drawdown since its inception was -20.21%, smaller than the maximum DEMSX drawdown of -66.70%. Use the drawdown chart below to compare losses from any high point for AVEE and DEMSX.

Drawdown Indicators

	AVEE	DEMSX	Difference
Max Drawdown Largest peak-to-trough decline	-20.21%	-66.70%	+46.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-10.30%	-1.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.28%	—
Current Drawdown Current decline from peak	-7.32%	-9.35%	+2.03%
Average Drawdown Average peak-to-trough decline	-3.78%	-13.67%	+9.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.95%	+0.46%

Volatility

AVEE vs. DEMSX - Volatility Comparison

Avantis Emerging Markets Small Cap Equity ETF (AVEE) has a higher volatility of 7.59% compared to DFA Emerging Markets Small Cap Portfolio (DEMSX) at 6.19%. This indicates that AVEE's price experiences larger fluctuations and is considered to be riskier than DEMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEE	DEMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.59%	6.19%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	9.31%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	13.57%	+3.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	13.08%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	14.68%	+1.34%