AVES vs. ADIV

Last updated Jun 9, 2026

AVES (Avantis Emerging Markets Value ETF) and ADIV (SmartETFs Asia Pacific Dividend Builder ETF) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson Asset Management. Both are actively managed. Over the past 3 years, AVES returned 18.05%/yr vs 15.97%/yr for ADIV. Their correlation of 0.86 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.78%/yr for ADIV.

Performance

AVES vs. ADIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVES achieves a 11.39% return, which is significantly higher than ADIV's 4.50% return.

AVES

• 1D: 0.64%
• 1M: -4.21%
• YTD: 11.39%
• 6M: 13.83%
• 1Y: 28.23%
• 3Y*: 18.05%
• 5Y*: —
• 10Y*: —

ADIV

• 1D: 0.43%
• 1M: -2.41%
• YTD: 4.50%
• 6M: 4.87%
• 1Y: 14.36%
• 3Y*: 15.97%
• 5Y*: 5.91%
• 10Y*: —

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

AVES vs. ADIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	11.39%	30.49%	4.50%	16.79%	-16.04%	0.95%
ADIV SmartETFs Asia Pacific Dividend Builder ETF	4.50%	21.86%	14.47%	12.28%	-18.00%	8.83%

Correlation

The correlation between AVES and ADIV is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.86

The correlation between AVES and ADIV has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

AVES vs. ADIV - Sectors Allocation Comparison

Sectors	AVES	ADIV
Financial Services	25.3%	32.4%
Technology	21.4%	25.5%
Industrials	13.3%	2.4%
Basic Materials	9.8%	-
Consumer Cyclical	9.6%	16.3%
Communication Services	5.3%	2.7%
Energy	4.0%	-
Consumer Defensive	3.2%	4.7%
Real Estate	2.4%	7.9%
Healthcare	2.1%	5.6%
Utilities	1.7%	2.5%

Return for Risk

AVES vs. ADIV — Risk / Return Rank

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

AVES

AVES Risk / Return Rank: 50
AVES Sharpe Ratio Rank: 51
AVES Sortino Ratio Rank: 48
AVES Omega Ratio Rank: 53
AVES Calmar Ratio Rank: 49
AVES Martin Ratio Rank: 52

ADIV

ADIV Risk / Return Rank: 32
ADIV Sharpe Ratio Rank: 32
ADIV Sortino Ratio Rank: 31
ADIV Omega Ratio Rank: 31
ADIV Calmar Ratio Rank: 32
ADIV Martin Ratio Rank: 34

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.

AVES vs. ADIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). 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.

	AVES	ADIV	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.04	+0.55
Sortino ratio: Return per unit of downside risk	2.12	1.50	+0.62
Omega ratio: Gain probability vs. loss probability	1.30	1.19	+0.11
Calmar ratio: Return relative to maximum drawdown	2.20	1.42	+0.78
Martin ratio: Return relative to average drawdown	8.06	4.66	+3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVES vs. ADIV - Sharpe Ratio Comparison

The current AVES Sharpe Ratio is 1.59, which is higher than the ADIV Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of AVES and ADIV, 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

	AVES	ADIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.04	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.38	+0.16

Drawdowns

AVES vs. ADIV - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum ADIV drawdown of -31.55%. Use the drawdown chart below to compare losses from any high point for AVES and ADIV.

Drawdown Indicators

	AVES	ADIV	Difference
Max Drawdown Largest peak-to-trough decline	-27.40%	-31.55%	+4.15%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-10.15%	-2.75%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-18.53%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.55%	—
Current Drawdown Current decline from peak	-5.93%	-4.40%	-1.53%
Average Drawdown Average peak-to-trough decline	-7.72%	-8.44%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	3.09%	+0.42%

Volatility

AVES vs. ADIV - Volatility Comparison

Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.21% compared to SmartETFs Asia Pacific Dividend Builder ETF (ADIV) at 5.13%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than ADIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVES	ADIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	5.13%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	11.02%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	13.87%	+4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	16.54%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	16.41%	+0.71%

AVES vs. ADIV - Expense Ratio Comparison

AVES has a 0.36% expense ratio, which is lower than ADIV's 0.78% expense ratio.

Dividends

AVES vs. ADIV - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 2.95%, more than ADIV's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.88%	2.77%	4.83%	4.55%	2.98%	13.85%
AVES Avantis Emerging Markets Value ETF	2.95%	3.17%	4.09%	3.96%	3.70%	0.62%

Frequently Asked Questions

Can I hold both AVES and ADIV in my portfolio?

AVES and ADIV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVES or ADIV?

AVES has higher volatility (8.21%) compared to ADIV (5.13%). In terms of maximum drawdown, AVES dropped -27.40% vs ADIV's -31.55%.

Which ETF is better, AVES or ADIV?

On 3-year performance, AVES leads with 18.05% vs 15.97% for ADIV. On fees, AVES is cheaper at 0.36% per year. On volatility, ADIV has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVES or ADIV?

Over the 3-year period, AVES has performed better with a 18.05% return vs 15.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVES or ADIV?

AVES is cheaper with a 0.36% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, AVES or ADIV?

AVES has the higher dividend yield at 2.95%, compared with 2.88% for ADIV.

What is the main difference between AVES and ADIV?

AVES is categorized as Emerging Markets Equities, while ADIV is Asia Pacific Equities. They also come from different issuers: Avantis and Guinness Atkinson Asset Management. Their fees differ too: 0.36% for AVES and 0.78% for ADIV.

Which has better risk-adjusted returns?

AVES currently has the higher Sharpe Ratio (1.59 vs 1.04), 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.