AVES vs. DGS
AVES (Avantis Emerging Markets Value ETF) and DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index. AVES is actively managed, while DGS is passively managed. Over the past 3 years, AVES returned 20.96%/yr vs 16.75%/yr for DGS. Their correlation of 0.92 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.58%/yr for DGS.
Performance
AVES vs. DGS - Performance Comparison
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Returns By Period
In the year-to-date period, AVES achieves a 17.72% return, which is significantly higher than DGS's 16.30% return.
AVES
- 1D
- -0.38%
- 1M
- 3.45%
- YTD
- 17.72%
- 6M
- 18.29%
- 1Y
- 35.91%
- 3Y*
- 20.96%
- 5Y*
- —
- 10Y*
- —
DGS
- 1D
- -0.18%
- 1M
- 2.28%
- YTD
- 16.30%
- 6M
- 17.62%
- 1Y
- 28.60%
- 3Y*
- 16.75%
- 5Y*
- 8.53%
- 10Y*
- 10.20%
AVES vs. DGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 17.72% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 16.30% | 21.18% | 1.13% | 19.08% | -12.35% | 0.90% |
Correlation
The correlation between AVES and DGS is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.92 |
The correlation between AVES and DGS has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
AVES vs. DGS — Risk / Return Rank
AVES
DGS
AVES vs. DGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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 | DGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.32 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.86 | -0.06 |
| Martin ratioReturn relative to average drawdown | 10.12 | 9.43 | +0.69 |
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Drawdowns
AVES vs. DGS - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum DGS drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for AVES and DGS.
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Drawdown Indicators
| AVES | DGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -61.83% | +34.43% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -10.06% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -19.31% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.08% | — |
Current DrawdownCurrent decline from peak | -0.96% | -0.38% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -12.56% | +4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 3.04% | +0.52% |
Volatility
AVES vs. DGS - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.92% compared to WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) at 7.20%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVES | DGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 7.20% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.21% | 14.41% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 16.63% | +1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 15.13% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 17.39% | -0.14% |
AVES vs. DGS - Expense Ratio Comparison
AVES has a 0.36% expense ratio, which is lower than DGS's 0.58% expense ratio.
Dividends
AVES vs. DGS - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 3.46%, more than DGS's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.46% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.16% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
Frequently Asked Questions
With a correlation of 0.92, AVES and DGS 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.
AVES has higher volatility (8.92%) compared to DGS (7.20%). In terms of maximum drawdown, AVES dropped -27.40% vs DGS's -61.83%.
On 3-year performance, AVES leads with 20.96% vs 16.75% for DGS. On fees, AVES is cheaper at 0.36% per year. On volatility, DGS has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVES has performed better with a 20.96% return vs 16.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVES is cheaper with a 0.36% expense ratio, compared with 0.58% for DGS.
AVES has the higher dividend yield at 3.46%, compared with 3.16% for DGS.
AVES is categorized as Emerging Markets Equities, while DGS is Emerging Markets Diversified. They also come from different issuers: Avantis and WisdomTree. Their fees differ too: 0.36% for AVES and 0.58% for DGS.
AVES currently has the higher Sharpe Ratio (1.95 vs 1.73), 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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