AVES vs. PHYS
AVES (Avantis Emerging Markets Value ETF) is Emerging Markets Equities fund actively managed by Avantis, while PHYS (Sprott Physical Gold Trust) is a stock. Over the past 3 years, AVES returned 19.19%/yr vs 28.00%/yr for PHYS. At a 0.35 correlation, their price movements are largely independent.
Performance
AVES vs. PHYS - Performance Comparison
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Returns By Period
In the year-to-date period, AVES achieves a 15.51% return, which is significantly higher than PHYS's -3.85% return.
AVES
- 1D
- 0.32%
- 1M
- 0.12%
- YTD
- 15.51%
- 6M
- 18.20%
- 1Y
- 31.51%
- 3Y*
- 19.19%
- 5Y*
- —
- 10Y*
- —
PHYS
- 1D
- 0.19%
- 1M
- -7.76%
- YTD
- -3.85%
- 6M
- -3.47%
- 1Y
- 20.77%
- 3Y*
- 28.00%
- 5Y*
- 16.26%
- 10Y*
- 11.42%
AVES vs. PHYS - 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% |
PHYS Sprott Physical Gold Trust | -3.85% | 63.95% | 26.43% | 12.98% | -1.81% | 5.59% |
Correlation
The correlation between AVES and PHYS is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.35 |
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Return for Risk
AVES vs. PHYS — Risk / Return Rank
AVES
PHYS
AVES vs. PHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Sprott Physical Gold Trust (PHYS). 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 | PHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 0.92 | +1.41 |
| Martin ratioReturn relative to average drawdown | 8.40 | 2.64 | +5.76 |
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Drawdowns
AVES vs. PHYS - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum PHYS drawdown of -48.16%. Use the drawdown chart below to compare losses from any high point for AVES and PHYS.
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Drawdown Indicators
| AVES | PHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -48.16% | +20.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -24.80% | +11.90% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -24.80% | +6.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.80% | — |
Current DrawdownCurrent decline from peak | -2.45% | -22.43% | +19.98% |
Average DrawdownAverage peak-to-trough decline | -7.70% | -20.99% | +13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 8.60% | -5.04% |
Volatility
AVES vs. PHYS - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.89% compared to Sprott Physical Gold Trust (PHYS) at 7.80%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than PHYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVES | PHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 7.80% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.88% | 24.75% | -8.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 28.17% | -9.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 18.53% | -1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 16.41% | +0.79% |
Dividends
AVES vs. PHYS - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 3.53%, while PHYS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.53% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% |
PHYS Sprott Physical Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVES and PHYS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVES has higher volatility (8.89%) compared to PHYS (7.80%). In terms of maximum drawdown, AVES dropped -27.40% vs PHYS's -48.16%.
AVES currently has the higher Sharpe Ratio (1.64 vs 0.81), 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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