AVEM vs. AVXC

Last updated Jun 24, 2026

AVEM (Avantis Emerging Markets Equity ETF) and AVXC (Avantis Emerging Markets ex-China Equity ETF) are both exchange-traded funds - AVEM is a Emerging Markets Equities fund actively managed by Avantis, while AVXC is a Emerging Markets Diversified fund actively managed by Avantis. Both are actively managed. Over the past year, AVEM returned 46.12% vs 56.20% for AVXC. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.33% expense ratio.

Performance

AVEM vs. AVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity ETF (AVEM) and Avantis Emerging Markets ex-China Equity ETF (AVXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEM achieves a 23.75% return, which is significantly lower than AVXC's 31.52% return.

AVEM

• 1D: -5.47%
• 1M: 2.36%
• YTD: 23.75%
• 6M: 24.18%
• 1Y: 46.12%
• 3Y*: 24.70%
• 5Y*: 9.50%
• 10Y*: —

AVXC

• 1D: -5.67%
• 1M: 3.81%
• YTD: 31.52%
• 6M: 32.82%
• 1Y: 56.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVEM vs. AVXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVEM Avantis Emerging Markets Equity ETF	23.75%	34.48%	4.49%
AVXC Avantis Emerging Markets ex-China Equity ETF	31.52%	31.45%	-1.26%

Correlation

The correlation between AVEM and AVXC is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.92

The correlation between AVEM and AVXC has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

AVEM vs. AVXC - Sectors Allocation Comparison

Sectors	AVEM	AVXC
Technology	39.5%	34.2%
Financial Services	18.6%	18.9%
Consumer Cyclical	8.2%	5.4%
Industrials	8.1%	8.7%
Basic Materials	7.3%	7.3%
Communication Services	4.9%	3.5%
Energy	4.3%	3.7%
Consumer Defensive	2.8%	2.7%
Healthcare	2.5%	2.1%
Utilities	2.3%	2.4%
Real Estate	1.5%	1.3%

Return for Risk

AVEM vs. AVXC — Risk / Return Rank

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

AVEM

AVEM Risk / Return Rank: 68
AVEM Sharpe Ratio Rank: 66
AVEM Sortino Ratio Rank: 58
AVEM Omega Ratio Rank: 70
AVEM Calmar Ratio Rank: 72
AVEM Martin Ratio Rank: 73

AVXC

AVXC Risk / Return Rank: 80
AVXC Sharpe Ratio Rank: 81
AVXC Sortino Ratio Rank: 73
AVXC Omega Ratio Rank: 82
AVXC Calmar Ratio Rank: 81
AVXC Martin Ratio Rank: 82

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 vs. AVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity ETF (AVEM) and Avantis Emerging Markets ex-China Equity ETF (AVXC). 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	AVXC	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.45	-0.37
Sortino ratio: Return per unit of downside risk	2.66	3.07	-0.40
Omega ratio: Gain probability vs. loss probability	1.40	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	3.53	4.02	-0.49
Martin ratio: Return relative to average drawdown	13.36	15.56	-2.20

AVEM vs. AVXC - Sharpe Ratio Comparison

The current AVEM Sharpe Ratio is 2.09, which is comparable to the AVXC Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of AVEM and AVXC, 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 vs. AVXC - Drawdown Comparison

The maximum AVEM drawdown since its inception was -36.05%, which is greater than AVXC's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for AVEM and AVXC.

Drawdown Indicators

	AVEM	AVXC	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-20.44%	-15.61%
Max Drawdown (1Y) Largest decline over 1 year	-13.13%	-14.04%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.88%	—	—
Current Drawdown Current decline from peak	-5.47%	-5.67%	+0.20%
Average Drawdown Average peak-to-trough decline	-10.04%	-3.79%	-6.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	3.62%	-0.16%

Volatility

AVEM vs. AVXC - Volatility Comparison

Avantis Emerging Markets Equity ETF (AVEM) and Avantis Emerging Markets ex-China Equity ETF (AVXC) have volatilities of 12.55% and 13.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEM	AVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.55%	13.12%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	20.07%	21.15%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	22.23%	23.03%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	19.83%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.91%	19.83%	+1.08%

AVEM vs. AVXC - Expense Ratio Comparison

Both AVEM and AVXC have an expense ratio of 0.33%.

Dividends

AVEM vs. AVXC - Dividend Comparison

AVEM's dividend yield for the trailing twelve months is around 2.62%, more than AVXC's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEM Avantis Emerging Markets Equity ETF	2.62%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%
AVXC Avantis Emerging Markets ex-China Equity ETF	2.06%	1.97%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVEM and AVXC in my portfolio?

With a correlation of 0.97, AVEM and AVXC 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, AVEM or AVXC?

AVXC has higher volatility (13.12%) compared to AVEM (12.55%). In terms of maximum drawdown, AVEM dropped -36.05% vs AVXC's -20.44%.

Which ETF is better, AVEM or AVXC?

On 1-year performance, AVXC leads with 56.20% vs 46.12% for AVEM. Both ETFs have the same 0.33% expense ratio. On volatility, AVEM has been the lower-risk option at 12.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVEM or AVXC?

Over the 1-year period, AVXC has performed better with a 56.20% return vs 46.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVEM or AVXC?

AVEM and AVXC have the same expense ratio: 0.33% per year.

Which ETF pays a higher dividend yield, AVEM or AVXC?

AVEM has the higher dividend yield at 2.62%, compared with 2.06% for AVXC.

What is the main difference between AVEM and AVXC?

AVEM is categorized as Emerging Markets Equities, while AVXC is Emerging Markets Diversified.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (2.45 vs 2.09), 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.