AVES vs. DFEMX
AVES (Avantis Emerging Markets Value ETF) and DFEMX (DFA Emerging Markets Portfolio) are both funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while DFEMX is a Emerging Markets Diversified fund managed by Dimensional. Over the past 3 years, AVES returned 19.21%/yr vs 25.90%/yr for DFEMX. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.36% expense ratio.
Performance
AVES vs. DFEMX - Performance Comparison
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Returns By Period
In the year-to-date period, AVES achieves a 12.71% return, which is significantly lower than DFEMX's 31.78% return.
AVES
- 1D
- -4.26%
- 1M
- -0.95%
- YTD
- 12.71%
- 6M
- 12.82%
- 1Y
- 29.26%
- 3Y*
- 19.21%
- 5Y*
- —
- 10Y*
- —
DFEMX
- 1D
- 0.29%
- 1M
- 7.81%
- YTD
- 31.78%
- 6M
- 33.22%
- 1Y
- 57.94%
- 3Y*
- 25.90%
- 5Y*
- 10.78%
- 10Y*
- 11.70%
AVES vs. DFEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 12.71% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
DFEMX DFA Emerging Markets Portfolio | 31.78% | 33.57% | 6.90% | 13.08% | -16.91% | 0.52% |
Correlation
The correlation between AVES and DFEMX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.90 |
The correlation between AVES and DFEMX has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.
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Return for Risk
AVES vs. DFEMX — Risk / Return Rank
AVES
DFEMX
AVES vs. DFEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and DFA Emerging Markets Portfolio (DFEMX). 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.
| AVES | DFEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.60 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 4.61 | -2.33 |
| Martin ratioReturn relative to average drawdown | 8.21 | 17.55 | -9.34 |
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Drawdowns
AVES vs. DFEMX - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum DFEMX drawdown of -62.43%. Use the drawdown chart below to compare losses from any high point for AVES and DFEMX.
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Drawdown Indicators
| AVES | DFEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -62.43% | +35.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -12.85% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -16.12% | -2.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.44% | — |
Current DrawdownCurrent decline from peak | -5.18% | 0.00% | -5.18% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -15.32% | +7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 3.35% | +0.22% |
Volatility
AVES vs. DFEMX - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) and DFA Emerging Markets Portfolio (DFEMX) have volatilities of 9.99% and 10.40%, 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.
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Volatility by Period
| AVES | DFEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.99% | 10.40% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 16.81% | 17.35% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.01% | 19.10% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.36% | 16.20% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 16.78% | +0.58% |
AVES vs. DFEMX - Expense Ratio Comparison
Both AVES and DFEMX have an expense ratio of 0.36%.
Dividends
AVES vs. DFEMX - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 3.62%, more than DFEMX's 1.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.62% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFEMX DFA Emerging Markets Portfolio | 1.93% | 2.55% | 3.14% | 3.34% | 3.90% | 6.13% | 1.45% | 2.33% | 2.14% | 1.74% | 1.92% | 2.08% |
Frequently Asked Questions
AVES and DFEMX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEMX has higher volatility (10.40%) compared to AVES (9.99%). In terms of maximum drawdown, AVES dropped -27.40% vs DFEMX's -62.43%.
DFEMX currently has the higher Sharpe Ratio (3.11 vs 1.55), 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.
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