AVEEX vs. DFAE

Last updated Jun 4, 2026

AVEEX (Avantis Emerging Markets Equity Fund) and DFAE (Dimensional Emerging Core Equity Market ETF) are both funds - AVEEX is a Emerging Markets Diversified fund managed by Avantis Investors, while DFAE is a Emerging Markets Equities fund actively managed by Dimensional. Over the past 5 years, AVEEX returned 9.64%/yr vs 8.95%/yr for DFAE. Their correlation of 0.94 suggests significant overlap in exposure. AVEEX charges 0.33%/yr vs 0.35%/yr for DFAE.

Performance

AVEEX vs. DFAE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity Fund (AVEEX) and Dimensional Emerging Core Equity Market ETF (DFAE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AVEEX having a 26.68% return and DFAE slightly lower at 26.32%.

AVEEX

• 1D: 0.59%
• 1M: 9.10%
• YTD: 26.68%
• 6M: 28.92%
• 1Y: 52.45%
• 3Y*: 25.40%
• 5Y*: 9.64%
• 10Y*: —

DFAE

• 1D: -1.25%
• 1M: 7.85%
• YTD: 26.32%
• 6M: 28.92%
• 1Y: 52.73%
• 3Y*: 23.78%
• 5Y*: 8.95%
• 10Y*: —

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

AVEEX vs. DFAE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AVEEX Avantis Emerging Markets Equity Fund	26.68%	32.09%	7.68%	15.15%	-18.15%	5.21%	6.11%
DFAE Dimensional Emerging Core Equity Market ETF	26.32%	31.48%	7.68%	12.63%	-17.52%	3.53%	4.85%

Correlation

The correlation between AVEEX and DFAE is 0.91, 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	0.91
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 3, 2020	0.94

The correlation between AVEEX and DFAE has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

AVEEX vs. DFAE — Risk / Return Rank

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

AVEEX

AVEEX Risk / Return Rank: 89
AVEEX Sharpe Ratio Rank: 94
AVEEX Sortino Ratio Rank: 88
AVEEX Omega Ratio Rank: 88
AVEEX Calmar Ratio Rank: 87
AVEEX Martin Ratio Rank: 87

DFAE

DFAE Risk / Return Rank: 81
DFAE Sharpe Ratio Rank: 84
DFAE Sortino Ratio Rank: 79
DFAE Omega Ratio Rank: 83
DFAE Calmar Ratio Rank: 80
DFAE Martin Ratio Rank: 80

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.

AVEEX vs. DFAE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity Fund (AVEEX) and Dimensional Emerging Core Equity Market ETF (DFAE). 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.

	AVEEX	DFAE	Difference
Sharpe ratio: Return per unit of total volatility	3.31	2.79	+0.52
Sortino ratio: Return per unit of downside risk	4.23	3.60	+0.62
Omega ratio: Gain probability vs. loss probability	1.61	1.51	+0.10
Calmar ratio: Return relative to maximum drawdown	4.21	4.14	+0.07
Martin ratio: Return relative to average drawdown	16.73	16.03	+0.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVEEX vs. DFAE - Sharpe Ratio Comparison

The current AVEEX Sharpe Ratio is 3.31, which is comparable to the DFAE Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of AVEEX and DFAE, 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

	AVEEX	DFAE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	2.79	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.51	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.64	+0.06

Drawdowns

AVEEX vs. DFAE - Drawdown Comparison

The maximum AVEEX drawdown since its inception was -36.45%, which is greater than DFAE's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for AVEEX and DFAE.

Drawdown Indicators

	AVEEX	DFAE	Difference
Max Drawdown Largest peak-to-trough decline	-36.45%	-32.21%	-4.24%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-12.80%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-18.12%	+0.78%
Max Drawdown (5Y) Largest decline over 5 years	-33.72%	-32.19%	-1.53%
Current Drawdown Current decline from peak	0.00%	-1.25%	+1.25%
Average Drawdown Average peak-to-trough decline	-10.32%	-10.32%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.30%	-0.13%

Volatility

AVEEX vs. DFAE - Volatility Comparison

The current volatility for Avantis Emerging Markets Equity Fund (AVEEX) is 6.80%, while Dimensional Emerging Core Equity Market ETF (DFAE) has a volatility of 8.12%. This indicates that AVEEX experiences smaller price fluctuations and is considered to be less risky than DFAE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEEX	DFAE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	8.12%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	16.53%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	18.99%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	17.81%	-1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	17.84%	+0.91%

AVEEX vs. DFAE - Expense Ratio Comparison

AVEEX has a 0.33% expense ratio, which is lower than DFAE's 0.35% expense ratio.

Dividends

AVEEX vs. DFAE - Dividend Comparison

AVEEX's dividend yield for the trailing twelve months is around 2.76%, more than DFAE's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEEX Avantis Emerging Markets Equity Fund	2.76%	3.50%	2.93%	3.51%	3.48%	1.92%	1.52%	0.26%
DFAE Dimensional Emerging Core Equity Market ETF	1.74%	2.20%	2.35%	2.43%	2.85%	1.63%	0.01%	0.00%

Frequently Asked Questions

Can I hold both AVEEX and DFAE in my portfolio?

With a correlation of 0.91, AVEEX and DFAE 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, AVEEX or DFAE?

DFAE has higher volatility (8.12%) compared to AVEEX (6.80%). In terms of maximum drawdown, AVEEX dropped -36.45% vs DFAE's -32.21%.

Which has better risk-adjusted returns?

AVEEX currently has the higher Sharpe Ratio (3.31 vs 2.79), 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.