AVES vs. FUND

Last updated Jun 14, 2026

AVES (Avantis Emerging Markets Value ETF) is Emerging Markets Equities fund actively managed by Avantis, while FUND (Sprott Focus Trust, Inc.) is a stock. Over the past 3 years, AVES returned 19.19%/yr vs 16.40%/yr for FUND. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

AVES vs. FUND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) and Sprott Focus Trust, Inc. (FUND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVES achieves a 15.51% return, which is significantly lower than FUND's 19.89% return.

AVES

• 1D: 0.32%
• 1M: 0.12%
• YTD: 15.51%
• 6M: 18.20%
• 1Y: 31.51%
• 3Y*: 19.19%
• 5Y*: —
• 10Y*: —

FUND

• 1D: 0.52%
• 1M: -0.93%
• YTD: 19.89%
• 6M: 21.14%
• 1Y: 45.55%
• 3Y*: 16.40%
• 5Y*: 10.39%
• 10Y*: 13.14%

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

AVES vs. FUND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	15.51%	30.49%	4.50%	16.79%	-16.04%	0.95%
FUND Sprott Focus Trust, Inc.	19.89%	27.57%	-1.08%	6.94%	-1.16%	9.18%

Correlation

The correlation between AVES and FUND is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.58

The correlation between AVES and FUND has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

Return for Risk

AVES vs. FUND — Risk / Return Rank

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

AVES

AVES Risk / Return Rank: 54
AVES Sharpe Ratio Rank: 55
AVES Sortino Ratio Rank: 52
AVES Omega Ratio Rank: 58
AVES Calmar Ratio Rank: 53
AVES Martin Ratio Rank: 55

FUND

FUND Risk / Return Rank: 94
FUND Sharpe Ratio Rank: 95
FUND Sortino Ratio Rank: 94
FUND Omega Ratio Rank: 93
FUND Calmar Ratio Rank: 91
FUND Martin Ratio Rank: 96

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. FUND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Sprott Focus Trust, Inc. (FUND). 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	FUND	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.88	-1.24
Sortino ratio: Return per unit of downside risk	2.22	3.64	-1.43
Omega ratio: Gain probability vs. loss probability	1.31	1.48	-0.17
Calmar ratio: Return relative to maximum drawdown	2.32	4.41	-2.09
Martin ratio: Return relative to average drawdown	8.40	20.19	-11.80

AVES vs. FUND - Sharpe Ratio Comparison

The current AVES Sharpe Ratio is 1.64, which is lower than the FUND Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of AVES and FUND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVES vs. FUND - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum FUND drawdown of -65.37%. Use the drawdown chart below to compare losses from any high point for AVES and FUND.

Drawdown Indicators

	AVES	FUND	Difference
Max Drawdown Largest peak-to-trough decline	-27.40%	-65.37%	+37.97%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-10.32%	-2.58%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-18.25%	-0.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.32%	—
Current Drawdown Current decline from peak	-2.45%	-1.93%	-0.52%
Average Drawdown Average peak-to-trough decline	-7.70%	-12.33%	+4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.25%	+1.31%

Volatility

AVES vs. FUND - Volatility Comparison

Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.89% compared to Sprott Focus Trust, Inc. (FUND) at 6.58%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than FUND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVES	FUND	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.89%	6.58%	+2.31%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	12.66%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.34%	15.82%	+2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	18.77%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	19.74%	-2.54%

Dividends

AVES vs. FUND - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 3.53%, less than FUND's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVES Avantis Emerging Markets Value ETF	3.53%	3.17%	4.09%	3.96%	3.70%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FUND Sprott Focus Trust, Inc.	5.87%	6.65%	8.27%	6.22%	6.72%	8.79%	7.93%	6.30%	11.92%	6.59%	5.76%	7.59%

Frequently Asked Questions

Can I hold both AVES and FUND in my portfolio?

AVES and FUND have a correlation of 0.54, 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 FUND?

AVES has higher volatility (8.89%) compared to FUND (6.58%). In terms of maximum drawdown, AVES dropped -27.40% vs FUND's -65.37%.

Which has better risk-adjusted returns?

FUND currently has the higher Sharpe Ratio (2.88 vs 1.64), 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.