AVEM.L vs. AVGS.L

Last updated Jun 26, 2026

AVEM.L (Avantis Emerging Markets Equity UCITS ETF USD Acc) and AVGS.L (Avantis Global Small Cap Value UCITS ETF USD Acc) are both exchange-traded funds - AVEM.L is a Emerging Markets Equities fund actively managed by Avantis, while AVGS.L is a Global Equities fund actively managed by Avantis. Both are actively managed. Over the past year, AVEM.L returned 39.80% vs 37.60% for AVGS.L. A 0.58 correlation means they provide meaningful diversification when combined. AVEM.L charges 0.35%/yr vs 0.39%/yr for AVGS.L.

Performance

AVEM.L vs. AVGS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEM.L) and Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEM.L achieves a 21.24% return, which is significantly higher than AVGS.L's 18.51% return.

AVEM.L

• 1D: 0.81%
• 1M: 0.28%
• YTD: 21.24%
• 6M: 22.11%
• 1Y: 39.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGS.L

• 1D: 0.50%
• 1M: 0.89%
• YTD: 18.51%
• 6M: 17.92%
• 1Y: 37.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVEM.L vs. AVGS.L - Yearly Performance Comparison

	2026 (YTD)	2025
AVEM.L Avantis Emerging Markets Equity UCITS ETF USD Acc	21.24%	25.36%
AVGS.L Avantis Global Small Cap Value UCITS ETF USD Acc	18.51%	22.97%

Correlation

The correlation between AVEM.L and AVGS.L is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.58

The correlation between AVEM.L and AVGS.L has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

AVEM.L vs. AVGS.L - Sectors Allocation Comparison

Sectors	AVEM.L	AVGS.L
Technology	37.4%	7.7%
Financial Services	19.9%	22.9%
Consumer Cyclical	9.0%	18.6%
Industrials	8.8%	14.9%
Basic Materials	6.1%	9.5%
Communication Services	5.4%	2.9%
Energy	3.7%	14.1%
Healthcare	3.5%	3.9%
Consumer Defensive	3.0%	4.4%
Real Estate	1.9%	0.8%
Utilities	1.4%	0.4%

Return for Risk

AVEM.L vs. AVGS.L — Risk / Return Rank

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

AVEM.L

AVEM.L Risk / Return Rank: 70
AVEM.L Sharpe Ratio Rank: 71
AVEM.L Sortino Ratio Rank: 68
AVEM.L Omega Ratio Rank: 71
AVEM.L Calmar Ratio Rank: 69
AVEM.L Martin Ratio Rank: 70

AVGS.L

AVGS.L Risk / Return Rank: 87
AVGS.L Sharpe Ratio Rank: 89
AVGS.L Sortino Ratio Rank: 91
AVGS.L Omega Ratio Rank: 84
AVGS.L Calmar Ratio Rank: 88
AVGS.L Martin Ratio Rank: 85

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.

AVEM.L vs. AVGS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEM.L) and Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L). 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.

	AVEM.L	AVGS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.57	-0.54
Sortino ratio: Return per unit of downside risk	2.73	3.75	-1.01
Omega ratio: Gain probability vs. loss probability	1.37	1.44	-0.07
Calmar ratio: Return relative to maximum drawdown	3.05	4.48	-1.43
Martin ratio: Return relative to average drawdown	11.29	15.65	-4.35

AVEM.L vs. AVGS.L - Sharpe Ratio Comparison

The current AVEM.L Sharpe Ratio is 2.02, which is comparable to the AVGS.L Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AVEM.L and AVGS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVEM.L vs. AVGS.L - Drawdown Comparison

The maximum AVEM.L drawdown since its inception was -14.44%, smaller than the maximum AVGS.L drawdown of -20.23%. Use the drawdown chart below to compare losses from any high point for AVEM.L and AVGS.L.

Drawdown Indicators

	AVEM.L	AVGS.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.44%	-20.23%	+5.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-8.39%	-4.66%
Current Drawdown Current decline from peak	-4.42%	-1.22%	-3.20%
Average Drawdown Average peak-to-trough decline	-2.19%	-2.90%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	2.40%	+1.12%

Volatility

AVEM.L vs. AVGS.L - Volatility Comparison

Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEM.L) has a higher volatility of 8.84% compared to Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L) at 3.92%. This indicates that AVEM.L's price experiences larger fluctuations and is considered to be riskier than AVGS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEM.L	AVGS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	3.92%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	17.33%	10.63%	+6.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.67%	14.68%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.45%	16.91%	+3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	16.91%	+3.54%

AVEM.L vs. AVGS.L - Expense Ratio Comparison

AVEM.L has a 0.35% expense ratio, which is lower than AVGS.L's 0.39% expense ratio.

Dividends

AVEM.L vs. AVGS.L - Dividend Comparison

Neither AVEM.L nor AVGS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AVEM.L and AVGS.L in my portfolio?

AVEM.L and AVGS.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVEM.L or AVGS.L?

On fees, AVEM.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVEM.L or AVGS.L?

AVEM.L is cheaper with a 0.35% expense ratio, compared with 0.39% for AVGS.L.

What is the main difference between AVEM.L and AVGS.L?

AVEM.L is categorized as Emerging Markets Equities, while AVGS.L is Global Equities. Their fees differ too: 0.35% for AVEM.L and 0.39% for AVGS.L.