AVES vs. VEA
AVES (Avantis Emerging Markets Value ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. AVES is actively managed, while VEA is passively managed. Over the past 3 years, AVES returned 19.19%/yr vs 19.03%/yr for VEA. Their correlation of 0.80 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.03%/yr for VEA.
Performance
AVES vs. VEA - 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 VEA's 14.73% return.
AVES
- 1D
- 0.32%
- 1M
- 0.12%
- YTD
- 15.51%
- 6M
- 18.20%
- 1Y
- 31.51%
- 3Y*
- 19.19%
- 5Y*
- —
- 10Y*
- —
VEA
- 1D
- 0.34%
- 1M
- 1.40%
- YTD
- 14.73%
- 6M
- 16.65%
- 1Y
- 31.41%
- 3Y*
- 19.03%
- 5Y*
- 9.51%
- 10Y*
- 10.72%
AVES vs. VEA - 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% |
VEA Vanguard FTSE Developed Markets ETF | 14.73% | 35.16% | 3.15% | 17.93% | -15.34% | 2.39% |
Correlation
The correlation between AVES and VEA is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.80 |
The correlation between AVES and VEA has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
AVES vs. VEA — Risk / Return Rank
AVES
VEA
AVES vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Vanguard FTSE Developed Markets ETF (VEA). 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 | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 2.58 | -0.25 |
| Martin ratioReturn relative to average drawdown | 8.40 | 9.92 | -1.52 |
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Drawdowns
AVES vs. VEA - Drawdown Comparison
The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for AVES and VEA.
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Drawdown Indicators
| AVES | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -60.68% | +33.28% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -11.63% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -13.45% | -5.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.73% | — |
Current DrawdownCurrent decline from peak | -2.45% | -1.06% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -7.70% | -13.28% | +5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 3.02% | +0.54% |
Volatility
AVES vs. VEA - Volatility Comparison
Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.89% compared to Vanguard FTSE Developed Markets ETF (VEA) at 6.84%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVES | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 6.84% | +2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 15.88% | 14.38% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 16.58% | +1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 16.72% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 17.40% | -0.20% |
AVES vs. VEA - Expense Ratio Comparison
AVES has a 0.36% expense ratio, which is higher than VEA's 0.03% expense ratio.
Dividends
AVES vs. VEA - Dividend Comparison
AVES's dividend yield for the trailing twelve months is around 3.53%, more than VEA's 2.62% 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% |
VEA Vanguard FTSE Developed Markets ETF | 2.62% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Frequently Asked Questions
AVES and VEA have a correlation of 0.82, 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 VEA (6.84%). In terms of maximum drawdown, AVES dropped -27.40% vs VEA's -60.68%.
On 3-year performance, AVES leads with 19.19% vs 19.03% for VEA. On fees, VEA is cheaper at 0.03% per year. On volatility, VEA has been the lower-risk option at 6.84%. 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 19.19% return vs 19.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEA is cheaper with a 0.03% expense ratio, compared with 0.36% for AVES.
AVES has the higher dividend yield at 3.53%, compared with 2.62% for VEA.
AVES is categorized as Emerging Markets Equities, while VEA is Foreign Large Cap Equities. They also come from different issuers: Avantis and Vanguard. Their fees differ too: 0.36% for AVES and 0.03% for VEA.
VEA currently has the higher Sharpe Ratio (1.81 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.
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