AVES vs. EJAN
AVES (Avantis Emerging Markets Value ETF) and EJAN (Innovator Emerging Markets Power Buffer ETF January) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while EJAN is a Defined Outcome fund tracking the MSCI Emerging Markets Index. AVES is actively managed, while EJAN is passively managed. Over the past 3 years, AVES returned 14.88%/yr vs 6.90%/yr for EJAN. Their correlation of 0.86 means they have usually moved in the same direction. AVES charges 0.36%/yr vs 0.89%/yr for EJAN.
Performance
AVES vs. EJAN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AVES achieves a 7.59% return, which is significantly higher than EJAN's 6.14% return.
AVES
- 1D
- -0.75%
- 1M
- -4.02%
- 6M
- 0.78%
- YTD
- 7.59%
- 1Y
- 19.41%
- 3Y*
- 14.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.03%
EJAN
- 1D
- 0.42%
- 1M
- 0.75%
- 6M
- 3.18%
- YTD
- 6.14%
- 1Y
- 11.50%
- 3Y*
- 6.90%
- 5Y*
- 3.53%
- 10Y*
- —
- ALL TIME*
- 4.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.66M | $7.29M | $6.23M | |
| $267.44K | $193.23K | $472.80K |
AVES vs. EJAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 7.59% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
EJAN Innovator Emerging Markets Power Buffer ETF January | 6.14% | 14.78% | 2.69% | 5.37% | -8.01% | -0.81% |
Correlation
The correlation between AVES and EJAN is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.86 |
The correlation between AVES and EJAN has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AVES vs. EJAN — Risk / Return Rank
AVES
EJAN
AVES vs. EJAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Innovator Emerging Markets Power Buffer ETF January (EJAN). 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 | EJAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.69 | -0.25 |
| Martin ratioReturn relative to average drawdown | 4.35 | 7.40 | -3.05 |
Loading charts...
Drawdowns
AVES vs. EJAN - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, which is greater than EJAN's maximum drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for AVES and EJAN.
Loading charts...
Drawdown Indicators
| AVES | EJAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -22.23% | -5.17% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -6.63% | -6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -11.75% | -6.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.84% | — |
Current DrawdownCurrent decline from peak | -9.48% | -0.80% | -8.68% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -5.67% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 1.51% | +2.75% |
Volatility
AVES vs. EJAN - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 6.96% compared to Innovator Emerging Markets Power Buffer ETF January (EJAN) at 2.75%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than EJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AVES | EJAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 2.75% | +4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 18.01% | 8.21% | +9.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 8.64% | +11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 11.15% | +6.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 12.63% | +4.86% |
AVES vs. EJAN - Expense Ratio Comparison
AVES has a 0.36% expense ratio, which is lower than EJAN's 0.89% expense ratio.
Dividends
AVES vs. EJAN - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 2.59%, while EJAN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.59% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% |
EJAN Innovator Emerging Markets Power Buffer ETF January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVES and EJAN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVES has higher volatility (6.96%) compared to EJAN (2.75%). In terms of maximum drawdown, AVES dropped -27.40% vs EJAN's -22.23%.
On 3-year performance, AVES leads with 14.88% vs 6.90% for EJAN. On fees, AVES is cheaper at 0.36% per year. On volatility, EJAN has been the lower-risk option at 2.75%. 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 14.88% return vs 6.90%. 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 0.89% for EJAN.
AVES has the higher dividend yield at 2.59%, compared with 0.00% for EJAN.
AVES is categorized as Emerging Markets Equities, while EJAN is Defined Outcome. They also come from different issuers: Avantis and Innovator. Their fees differ too: 0.36% for AVES and 0.89% for EJAN.
EJAN currently has the higher Sharpe Ratio (1.30 vs 0.93), 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.
Find the right allocation for AVES and EJAN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer