AVEE vs. EEMS
AVEE (Avantis Emerging Markets Small Cap Equity ETF) and EEMS (iShares MSCI Emerging Markets Small-Cap ETF) are both Emerging Markets Diversified funds. AVEE is actively managed, while EEMS is passively managed. Over the past year, AVEE returned 27.40% vs 30.37% for EEMS. Their correlation of 0.93 suggests significant overlap in exposure. AVEE charges 0.42%/yr vs 0.73%/yr for EEMS.
Performance
AVEE vs. EEMS - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AVEE having a 15.61% return and EEMS slightly higher at 16.14%.
AVEE
- 1D
- -0.10%
- 1M
- 2.28%
- YTD
- 15.61%
- 6M
- 16.08%
- 1Y
- 27.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EEMS
- 1D
- -0.13%
- 1M
- 1.98%
- YTD
- 16.14%
- 6M
- 17.52%
- 1Y
- 30.37%
- 3Y*
- 17.04%
- 5Y*
- 7.28%
- 10Y*
- 9.77%
AVEE vs. EEMS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AVEE Avantis Emerging Markets Small Cap Equity ETF | 15.61% | 19.80% | 2.91% | 6.15% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 16.14% | 19.78% | 3.13% | 7.40% |
Correlation
The correlation between AVEE and EEMS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023 | 0.93 |
The correlation between AVEE and EEMS has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
AVEE vs. EEMS — Risk / Return Rank
AVEE
EEMS
AVEE vs. EEMS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Small Cap Equity ETF (AVEE) and iShares MSCI Emerging Markets Small-Cap ETF (EEMS). 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.
| AVEE | EEMS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.81 | -0.22 |
| Martin ratioReturn relative to average drawdown | 8.06 | 9.45 | -1.39 |
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Drawdowns
AVEE vs. EEMS - Drawdown Comparison
The maximum AVEE drawdown since its inception was -20.21%, smaller than the maximum EEMS drawdown of -48.89%. Use the drawdown chart below to compare losses from any high point for AVEE and EEMS.
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Drawdown Indicators
| AVEE | EEMS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.21% | -48.89% | +28.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.65% | -10.87% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.89% | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.12% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -10.48% | +6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 3.22% | +0.19% |
Volatility
AVEE vs. EEMS - Volatility Comparison
The current volatility for Avantis Emerging Markets Small Cap Equity ETF (AVEE) is 8.27%, while iShares MSCI Emerging Markets Small-Cap ETF (EEMS) has a volatility of 8.89%. This indicates that AVEE experiences smaller price fluctuations and is considered to be less risky than EEMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVEE | EEMS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 8.89% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 16.68% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.89% | 18.69% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 16.40% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 18.13% | -1.09% |
AVEE vs. EEMS - Expense Ratio Comparison
AVEE has a 0.42% expense ratio, which is lower than EEMS's 0.73% expense ratio.
Dividends
AVEE vs. EEMS - Dividend Comparison
AVEE's dividend yield for the trailing twelve months is around 2.66%, less than EEMS's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVEE Avantis Emerging Markets Small Cap Equity ETF | 2.66% | 2.25% | 3.26% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 2.75% | 3.09% | 2.60% | 2.69% | 0.89% | 3.56% | 2.14% | 2.64% | 3.06% | 2.47% | 2.51% | 2.33% |
Frequently Asked Questions
With a correlation of 0.96, AVEE and EEMS 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.
EEMS has higher volatility (8.89%) compared to AVEE (8.27%). In terms of maximum drawdown, AVEE dropped -20.21% vs EEMS's -48.89%.
On 1-year performance, EEMS leads with 30.37% vs 27.40% for AVEE. On fees, AVEE is cheaper at 0.42% per year. On volatility, AVEE has been the lower-risk option at 8.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EEMS has performed better with a 30.37% return vs 27.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVEE is cheaper with a 0.42% expense ratio, compared with 0.73% for EEMS.
EEMS has the higher dividend yield at 2.75%, compared with 2.66% for AVEE.
They also come from different issuers: Avantis and iShares. Their fees differ too: 0.42% for AVEE and 0.73% for EEMS.
EEMS currently has the higher Sharpe Ratio (1.64 vs 1.54), 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.
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