AVES vs. EMDV
AVES (Avantis Emerging Markets Value ETF) and EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) are both Emerging Markets Equities funds. AVES is actively managed, while EMDV is passively managed. Over the past 3 years, AVES returned 14.88%/yr vs 1.66%/yr for EMDV. Their correlation of 0.83 means they have usually moved in the same direction. AVES charges 0.36%/yr vs 0.60%/yr for EMDV.
Performance
AVES vs. EMDV - Performance Comparison
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Returns By Period
In the year-to-date period, AVES achieves a 7.59% return, which is significantly higher than EMDV's 1.51% 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%
EMDV
- 1D
- -0.18%
- 1M
- 4.30%
- 6M
- 0.72%
- YTD
- 1.51%
- 1Y
- 6.10%
- 3Y*
- 1.66%
- 5Y*
- -1.50%
- 10Y*
- 1.95%
- ALL TIME*
- 4.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.66M | $7.29M | $6.23M | |
| $3.04K | $6.93K | $10.37K |
AVES vs. EMDV - 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% |
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | 1.51% | 11.90% | 0.06% | -1.03% | -18.19% | -0.12% |
Correlation
The correlation between AVES and EMDV is 0.74, 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. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.83 |
The correlation between AVES and EMDV has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.
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Return for Risk
AVES vs. EMDV — Risk / Return Rank
AVES
EMDV
AVES vs. EMDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). 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 | EMDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.10 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 0.81 | +0.63 |
| Martin ratioReturn relative to average drawdown | 4.35 | 1.92 | +2.43 |
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Drawdowns
AVES vs. EMDV - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum EMDV drawdown of -39.20%. Use the drawdown chart below to compare losses from any high point for AVES and EMDV.
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Drawdown Indicators
| AVES | EMDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -39.20% | +11.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -7.24% | -5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -20.71% | +2.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.20% | — |
Current DrawdownCurrent decline from peak | -9.48% | -14.51% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -13.59% | +5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 3.04% | +1.22% |
Volatility
AVES vs. EMDV - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 6.96% compared to ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) at 3.09%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than EMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVES | EMDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 3.09% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 18.01% | 9.93% | +8.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 11.68% | +8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 15.41% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 17.99% | -0.50% |
AVES vs. EMDV - Expense Ratio Comparison
AVES has a 0.36% expense ratio, which is lower than EMDV's 0.60% expense ratio.
Dividends
AVES vs. EMDV - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 2.59%, more than EMDV's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.59% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | 1.90% | 2.46% | 2.79% | 1.88% | 3.68% | 2.12% | 3.12% | 2.38% | 1.27% | 2.09% | 2.87% |
Frequently Asked Questions
AVES and EMDV have a correlation of 0.74, 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 EMDV (3.09%). In terms of maximum drawdown, AVES dropped -27.40% vs EMDV's -39.20%.
On 3-year performance, AVES leads with 14.88% vs 1.66% for EMDV. On fees, AVES is cheaper at 0.36% per year. On volatility, EMDV has been the lower-risk option at 3.09%. 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 1.66%. 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 0.60% for EMDV.
AVES has the higher dividend yield at 2.59%, compared with 1.90% for EMDV.
They also come from different issuers: Avantis and ProShares. Their fees differ too: 0.36% for AVES and 0.60% for EMDV.
AVES currently has the higher Sharpe Ratio (0.93 vs 0.50), 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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