AVES vs. UEVM
AVES (Avantis Emerging Markets Value ETF) and UEVM (VictoryShares Emerging Markets Value Momentum ETF) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index. AVES is actively managed, while UEVM is passively managed. Over the past 3 years, AVES returned 16.57%/yr vs 15.89%/yr for UEVM. Their correlation of 0.91 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.45%/yr for UEVM.
Performance
AVES vs. UEVM - Performance Comparison
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Returns By Period
In the year-to-date period, AVES achieves a 9.94% return, which is significantly higher than UEVM's 6.55% return.
AVES
- 1D
- 2.25%
- 1M
- -6.96%
- 6M
- 5.23%
- YTD
- 9.94%
- 1Y
- 18.59%
- 3Y*
- 16.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.56%
UEVM
- 1D
- 0.43%
- 1M
- -1.02%
- 6M
- 1.58%
- YTD
- 6.55%
- 1Y
- 14.13%
- 3Y*
- 15.89%
- 5Y*
- 7.89%
- 10Y*
- —
- ALL TIME*
- 5.55%
AVES vs. UEVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 9.94% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
UEVM VictoryShares Emerging Markets Value Momentum ETF | 6.55% | 22.74% | 11.92% | 17.41% | -14.60% | 2.03% |
Correlation
The correlation between AVES and UEVM is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.91 |
The correlation between AVES and UEVM has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
AVES vs. UEVM — Risk / Return Rank
AVES
UEVM
AVES vs. UEVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and VictoryShares Emerging Markets Value Momentum ETF (UEVM). 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 | UEVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.45 | 0.00 |
| Martin ratioReturn relative to average drawdown | 4.69 | 4.25 | +0.44 |
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Drawdowns
AVES vs. UEVM - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum UEVM drawdown of -45.44%. Use the drawdown chart below to compare losses from any high point for AVES and UEVM.
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Drawdown Indicators
| AVES | UEVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -45.44% | +18.04% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -9.79% | -3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -18.88% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.55% | — |
Current DrawdownCurrent decline from peak | -7.50% | -4.37% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -7.65% | -11.56% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 3.33% | +0.64% |
Volatility
AVES vs. UEVM - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 7.21% compared to VictoryShares Emerging Markets Value Momentum ETF (UEVM) at 4.28%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than UEVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVES | UEVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.21% | 4.28% | +2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 17.55% | 13.22% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 15.84% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.42% | 16.07% | +1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.42% | 18.38% | -0.96% |
AVES vs. UEVM - Expense Ratio Comparison
AVES has a 0.36% expense ratio, which is lower than UEVM's 0.45% expense ratio.
Dividends
AVES vs. UEVM - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 2.54%, less than UEVM's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.54% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% |
UEVM VictoryShares Emerging Markets Value Momentum ETF | 2.72% | 4.02% | 5.65% | 4.71% | 3.46% | 4.49% | 2.19% | 2.79% | 2.34% | 0.79% |
Frequently Asked Questions
AVES and UEVM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVES has higher volatility (7.21%) compared to UEVM (4.28%). In terms of maximum drawdown, AVES dropped -27.40% vs UEVM's -45.44%.
On 3-year performance, AVES leads with 16.57% vs 15.89% for UEVM. On fees, AVES is cheaper at 0.36% per year. On volatility, UEVM has been the lower-risk option at 4.28%. 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 16.57% return vs 15.89%. 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 0.45% for UEVM.
UEVM has the higher dividend yield at 2.72%, compared with 2.54% for AVES.
AVES is categorized as Emerging Markets Equities, while UEVM is Momentum. They also come from different issuers: Avantis and Victory Capital. Their fees differ too: 0.36% for AVES and 0.45% for UEVM.
AVES currently has the higher Sharpe Ratio (0.95 vs 0.90), 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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