AVEEX vs. DFEV

Last updated Jun 4, 2026

AVEEX (Avantis Emerging Markets Equity Fund) and DFEV (Dimensional Emerging Markets Value ETF) are both Emerging Markets Diversified funds. Over the past 3 years, AVEEX returned 25.40%/yr vs 25.84%/yr for DFEV. Their correlation of 0.91 suggests significant overlap in exposure. AVEEX charges 0.33%/yr vs 0.43%/yr for DFEV.

Performance

AVEEX vs. DFEV - Performance Comparison

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

Returns By Period

In the year-to-date period, AVEEX achieves a 26.68% return, which is significantly lower than DFEV's 29.46% return.

AVEEX

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

DFEV

• 1D: -1.36%
• 1M: 9.10%
• YTD: 29.46%
• 6M: 32.40%
• 1Y: 57.15%
• 3Y*: 25.84%
• 5Y*: —
• 10Y*: —

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

AVEEX vs. DFEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVEEX Avantis Emerging Markets Equity Fund	26.68%	32.09%	7.68%	15.15%	-5.98%
DFEV Dimensional Emerging Markets Value ETF	29.46%	32.54%	7.26%	15.52%	-6.71%

Correlation

The correlation between AVEEX and DFEV is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.91

The correlation between AVEEX and DFEV has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

AVEEX vs. DFEV — 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

DFEV

DFEV Risk / Return Rank: 89
DFEV Sharpe Ratio Rank: 92
DFEV Sortino Ratio Rank: 90
DFEV Omega Ratio Rank: 91
DFEV Calmar Ratio Rank: 87
DFEV Martin Ratio Rank: 87

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. DFEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity Fund (AVEEX) and Dimensional Emerging Markets Value ETF (DFEV). 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	DFEV	Difference
Sharpe ratio Return per unit of total volatility	3.31	3.32	-0.01
Sortino ratio Return per unit of downside risk	4.23	4.29	-0.06
Omega ratio Gain probability vs. loss probability	1.61	1.61	+0.01
Calmar ratio Return relative to maximum drawdown	4.21	5.06	-0.85
Martin ratio Return relative to average drawdown	16.73	19.06	-2.33
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. DFEV - Sharpe Ratio Comparison

The current AVEEX Sharpe Ratio is 3.31, which is comparable to the DFEV Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of AVEEX and DFEV, 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	DFEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	3.32	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.11	-0.41

Drawdowns

AVEEX vs. DFEV - Drawdown Comparison

The maximum AVEEX drawdown since its inception was -36.45%, which is greater than DFEV's maximum drawdown of -18.49%. Use the drawdown chart below to compare losses from any high point for AVEEX and DFEV.

Drawdown Indicators

	AVEEX	DFEV	Difference
Max Drawdown Largest peak-to-trough decline	-36.45%	-18.49%	-17.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-11.35%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-17.94%	+0.60%
Max Drawdown (5Y) Largest decline over 5 years	-33.72%	—	—
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-10.32%	-4.65%	-5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.01%	+0.16%

Volatility

AVEEX vs. DFEV - Volatility Comparison

The current volatility for Avantis Emerging Markets Equity Fund (AVEEX) is 6.80%, while Dimensional Emerging Markets Value ETF (DFEV) has a volatility of 7.73%. This indicates that AVEEX experiences smaller price fluctuations and is considered to be less risky than DFEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEEX	DFEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	7.73%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	14.85%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	17.31%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	16.42%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	16.42%	+2.33%

AVEEX vs. DFEV - Expense Ratio Comparison

AVEEX has a 0.33% expense ratio, which is lower than DFEV's 0.43% expense ratio.

Dividends

AVEEX vs. DFEV - Dividend Comparison

AVEEX's dividend yield for the trailing twelve months is around 2.76%, more than DFEV's 2.02% 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%
DFEV Dimensional Emerging Markets Value ETF	2.02%	2.69%	3.17%	3.47%	3.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVEEX and DFEV in my portfolio?

AVEEX and DFEV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVEEX or DFEV?

DFEV has higher volatility (7.73%) compared to AVEEX (6.80%). In terms of maximum drawdown, AVEEX dropped -36.45% vs DFEV's -18.49%.

Which has better risk-adjusted returns?

DFEV currently has the higher Sharpe Ratio (3.32 vs 3.31), 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.