AVEM vs. HDMV

Last updated Apr 1, 2026

Compare and contrast key facts about Avantis Emerging Markets Equity ETF (AVEM) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV).

AVEM and HDMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AVEM is a passively managed fund by American Century that tracks the performance of the MSCI Emerging Markets Index. It was launched on Sep 17, 2019. HDMV is an actively managed fund by First Trust. It was launched on Aug 24, 2016.

Performance

AVEM vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity ETF (AVEM) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). The values are adjusted to include any dividend payments, if applicable.

AVEM vs. HDMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVEM Avantis Emerging Markets Equity ETF	4.70%	34.48%	7.49%	15.30%	-18.15%	5.16%	14.39%	11.13%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.18%	29.31%	2.99%	9.62%	-11.47%	7.39%	-9.42%	3.65%

Returns By Period

In the year-to-date period, AVEM achieves a 4.70% return, which is significantly higher than HDMV's 4.18% return.

AVEM

• 1D: 3.60%
• 1M: -9.09%
• YTD: 4.70%
• 6M: 9.02%
• 1Y: 37.57%
• 3Y*: 18.51%
• 5Y*: 6.97%
• 10Y*: —

HDMV

• 1D: 2.14%
• 1M: -6.09%
• YTD: 4.18%
• 6M: 7.46%
• 1Y: 20.52%
• 3Y*: 12.99%
• 5Y*: 7.11%
• 10Y*: —

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

AVEM vs. HDMV - Expense Ratio Comparison

AVEM has a 0.33% expense ratio, which is lower than HDMV's 0.80% expense ratio.

HDMV

First Trust Horizon Managed Volatility Developed Intl ETF

AVEM

Avantis Emerging Markets Equity ETF

Return for Risk

AVEM vs. HDMV — Risk / Return Rank

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

AVEM

AVEM Risk / Return Rank: 90
AVEM Sharpe Ratio Rank: 90
AVEM Sortino Ratio Rank: 90
AVEM Omega Ratio Rank: 90
AVEM Calmar Ratio Rank: 90
AVEM Martin Ratio Rank: 90

HDMV

HDMV Risk / Return Rank: 80
HDMV Sharpe Ratio Rank: 82
HDMV Sortino Ratio Rank: 79
HDMV Omega Ratio Rank: 81
HDMV Calmar Ratio Rank: 81
HDMV Martin Ratio Rank: 77

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. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity ETF (AVEM) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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.

	AVEM	HDMV	Difference
Sharpe ratio Return per unit of total volatility	1.89	1.57	+0.32
Sortino ratio Return per unit of downside risk	2.48	2.04	+0.45
Omega ratio Gain probability vs. loss probability	1.37	1.31	+0.06
Calmar ratio Return relative to maximum drawdown	2.82	2.28	+0.54
Martin ratio Return relative to average drawdown	11.10	8.16	+2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVEM vs. HDMV - Sharpe Ratio Comparison

The current AVEM Sharpe Ratio is 1.89, which is comparable to the HDMV Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of AVEM and HDMV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AVEM	HDMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.57	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.60	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.41	+0.10

Correlation

The correlation between AVEM and HDMV is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AVEM vs. HDMV - Dividend Comparison

AVEM's dividend yield for the trailing twelve months is around 2.41%, less than HDMV's 4.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVEM Avantis Emerging Markets Equity ETF	2.41%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%	0.00%	0.00%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.70%	5.09%	3.24%	3.14%	3.53%	3.11%	1.45%	3.63%	2.88%	3.23%	0.18%

Drawdowns

AVEM vs. HDMV - Drawdown Comparison

The maximum AVEM drawdown since its inception was -36.05%, which is greater than HDMV's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for AVEM and HDMV.

Drawdown Indicators

	AVEM	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-32.01%	-4.04%
Max Drawdown (1Y) Largest decline over 1 year	-13.13%	-8.73%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.00%	-24.11%	-9.89%
Current Drawdown Current decline from peak	-10.00%	-6.09%	-3.91%
Average Drawdown Average peak-to-trough decline	-10.30%	-6.83%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	2.44%	+0.90%

Volatility

AVEM vs. HDMV - Volatility Comparison

Avantis Emerging Markets Equity ETF (AVEM) has a higher volatility of 10.36% compared to First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) at 6.07%. This indicates that AVEM's price experiences larger fluctuations and is considered to be riskier than HDMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEM	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	6.07%	+4.29%
Volatility (6M) Calculated over the trailing 6-month period	14.72%	8.25%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	20.03%	13.16%	+6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.87%	11.94%	+5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	13.23%	+7.14%