AVEEX vs. ESCIX

Last updated Jun 4, 2026

AVEEX (Avantis Emerging Markets Equity Fund) and ESCIX (Ashmore Emerging Markets Small Cap Equity Fund) are both Emerging Markets Diversified funds. Over the past 5 years, AVEEX returned 9.64%/yr vs 4.92%/yr for ESCIX. A 0.77 correlation means they provide meaningful diversification when combined. AVEEX charges 0.33%/yr vs 1.52%/yr for ESCIX.

Performance

AVEEX vs. ESCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity Fund (AVEEX) and Ashmore Emerging Markets Small Cap Equity Fund (ESCIX). 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 higher than ESCIX's 8.91% return.

AVEEX

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

ESCIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 8.91%
• 6M: 10.18%
• 1Y: 27.86%
• 3Y*: 15.58%
• 5Y*: 4.92%
• 10Y*: 9.82%

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

AVEEX vs. ESCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVEEX Avantis Emerging Markets Equity Fund	26.68%	32.09%	7.68%	15.15%	-18.15%	5.21%	15.72%	7.38%
ESCIX Ashmore Emerging Markets Small Cap Equity Fund	8.91%	26.07%	3.55%	19.64%	-24.45%	11.93%	43.41%	7.16%

Correlation

The correlation between AVEEX and ESCIX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.77

Over the past year, the correlation between AVEEX and ESCIX has dropped to 0.56 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

AVEEX vs. ESCIX — 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

ESCIX

ESCIX Risk / Return Rank: 86
ESCIX Sharpe Ratio Rank: 81
ESCIX Sortino Ratio Rank: 79
ESCIX Omega Ratio Rank: 84
ESCIX Calmar Ratio Rank: 93
ESCIX Martin Ratio Rank: 92

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. ESCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity Fund (AVEEX) and Ashmore Emerging Markets Small Cap Equity Fund (ESCIX). 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	ESCIX	Difference
Sharpe ratio: Return per unit of total volatility	3.31	2.63	+0.68
Sortino ratio: Return per unit of downside risk	4.23	3.77	+0.46
Omega ratio: Gain probability vs. loss probability	1.61	1.57	+0.05
Calmar ratio: Return relative to maximum drawdown	4.21	5.31	-1.10
Martin ratio: Return relative to average drawdown	16.73	19.40	-2.67
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. ESCIX - Sharpe Ratio Comparison

The current AVEEX Sharpe Ratio is 3.31, which is comparable to the ESCIX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of AVEEX and ESCIX, 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	ESCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	2.63	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.32	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.39	+0.31

Drawdowns

AVEEX vs. ESCIX - Drawdown Comparison

The maximum AVEEX drawdown since its inception was -36.45%, smaller than the maximum ESCIX drawdown of -48.76%. Use the drawdown chart below to compare losses from any high point for AVEEX and ESCIX.

Drawdown Indicators

	AVEEX	ESCIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.45%	-48.76%	+12.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-5.70%	-6.94%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-19.97%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-33.72%	-36.59%	+2.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.76%	—
Current Drawdown Current decline from peak	0.00%	-0.74%	+0.74%
Average Drawdown Average peak-to-trough decline	-10.32%	-13.33%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.52%	+1.65%

Volatility

AVEEX vs. ESCIX - Volatility Comparison

Avantis Emerging Markets Equity Fund (AVEEX) has a higher volatility of 6.80% compared to Ashmore Emerging Markets Small Cap Equity Fund (ESCIX) at 0.00%. This indicates that AVEEX's price experiences larger fluctuations and is considered to be riskier than ESCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEEX	ESCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	0.00%	+6.80%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	7.42%	+6.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	11.53%	+4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	15.66%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	17.60%	+1.15%

AVEEX vs. ESCIX - Expense Ratio Comparison

AVEEX has a 0.33% expense ratio, which is lower than ESCIX's 1.52% expense ratio.

Dividends

AVEEX vs. ESCIX - Dividend Comparison

AVEEX's dividend yield for the trailing twelve months is around 2.76%, more than ESCIX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVEEX Avantis Emerging Markets Equity Fund	2.76%	3.50%	2.93%	3.51%	3.48%	1.92%	1.52%	0.26%	0.00%	0.00%	0.00%
ESCIX Ashmore Emerging Markets Small Cap Equity Fund	0.42%	0.91%	0.00%	0.56%	0.60%	0.00%	0.00%	0.13%	0.11%	1.66%	1.16%

Frequently Asked Questions

Can I hold both AVEEX and ESCIX in my portfolio?

AVEEX and ESCIX have a correlation of 0.56, 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 ESCIX?

AVEEX has higher volatility (6.80%) compared to ESCIX (0.00%). In terms of maximum drawdown, AVEEX dropped -36.45% vs ESCIX's -48.76%.

Which has better risk-adjusted returns?

AVEEX currently has the higher Sharpe Ratio (3.31 vs 2.63), 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.