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AVES vs. VEE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AVES vs. VEE.TO

Last updated Jun 13, 2026

AVES (Avantis Emerging Markets Value ETF) and VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) are both Emerging Markets Equities funds. AVES is actively managed, while VEE.TO is passively managed. Over the past 3 years, AVES returned 19.19%/yr vs 16.02%/yr for VEE.TO. A 0.74 correlation means they provide meaningful diversification when combined. AVES charges 0.36%/yr vs 0.25%/yr for VEE.TO.

Performance

AVES vs. VEE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

AVES is traded in USD, while VEE.TO is traded in CAD. To make them comparable, the VEE.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AVES achieves a 15.51% return, which is significantly higher than VEE.TO's 10.42% return.

AVES

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

VEE.TO

1D
0.78%
1M
-0.81%
YTD
10.42%
6M
12.32%
1Y
26.08%
3Y*
16.02%
5Y*
4.26%
10Y*
8.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AVES vs. VEE.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
AVES
Avantis Emerging Markets Value ETF		15.51%30.49%4.50%16.79%-16.04%0.95%
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		10.42%25.02%9.77%8.83%-17.98%-1.00%

Correlation

The correlation between AVES and VEE.TO is 0.74, 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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2021

0.74

The correlation between AVES and VEE.TO has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

AVES vs. VEE.TO - Sectors Allocation Comparison

Sectors
AVES
VEE.TO

Financial Services

25.3%
20.5%

Technology

21.4%
26.3%

Industrials

13.3%
7.9%

Basic Materials

9.8%
8.4%

Consumer Cyclical

9.6%
11.2%

Communication Services

5.3%
7.8%

Energy

4.0%
4.7%

Consumer Defensive

3.2%
3.9%

Real Estate

2.4%
2.3%

Healthcare

2.1%
4.1%

Utilities

1.7%
3.0%

Financial Services

AVES
25.3%
VEE.TO
20.5%

Technology

AVES
21.4%
VEE.TO
26.3%

Industrials

AVES
13.3%
VEE.TO
7.9%

Basic Materials

AVES
9.8%
VEE.TO
8.4%

Consumer Cyclical

AVES
9.6%
VEE.TO
11.2%

Communication Services

AVES
5.3%
VEE.TO
7.8%

Energy

AVES
4.0%
VEE.TO
4.7%

Consumer Defensive

AVES
3.2%
VEE.TO
3.9%

Real Estate

AVES
2.4%
VEE.TO
2.3%

Healthcare

AVES
2.1%
VEE.TO
4.1%

Utilities

AVES
1.7%
VEE.TO
3.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Avantis Emerging Markets Value ETF

Vanguard FTSE Emerging Markets All Cap Index ETF

Often compared with AVES:
AVES vs. AVEMAVES vs. AVEEAVES vs. VWOAVES vs. DFEVAVES vs. DGSAVES vs. FNDEAVES vs. DFEVX
Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS

Return for Risk

AVES vs. VEE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AVES
AVES Risk / Return Rank: 5454
Overall Rank
AVES Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
AVES Sortino Ratio Rank: 5252
Sortino Ratio Rank
AVES Omega Ratio Rank: 5858
Omega Ratio Rank
AVES Calmar Ratio Rank: 5353
Calmar Ratio Rank
AVES Martin Ratio Rank: 5555
Martin Ratio Rank
VEE.TO
VEE.TO Risk / Return Rank: 5959
Overall Rank
VEE.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 5959
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 6262
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
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. VEE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO). 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.

AVESVEE.TODifference
Sharpe ratioReturn per unit of total volatility
1.64
1.47

+0.16

Sortino ratioReturn per unit of downside risk
2.22
2.09

+0.13

Omega ratioGain probability vs. loss probability

1.31

1.27

+0.04

Calmar ratioReturn relative to maximum drawdown

2.32

2.25

+0.07

Martin ratioReturn relative to average drawdown

8.40

7.89

+0.51

AVES vs. VEE.TO - Sharpe Ratio Comparison

The current AVES Sharpe Ratio is 1.64, which is comparable to the VEE.TO Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of AVES and VEE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AVES vs. VEE.TO - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum VEE.TO drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for AVES and VEE.TO.

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Drawdown Indicators

AVESVEE.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.40%

-36.79%

+9.39%

Max Drawdown (1Y)

Largest decline over 1 year

-12.90%

-10.97%

-1.93%

Max Drawdown (3Y)

Largest decline over 3 years

-18.50%

-17.99%

-0.51%

Max Drawdown (5Y)

Largest decline over 5 years

—

-33.33%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.50%

—

Current Drawdown

Current decline from peak

-2.45%

-2.61%

+0.16%

Average Drawdown

Average peak-to-trough decline

-7.70%

-12.69%

+4.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

3.12%

+0.44%

Volatility

AVES vs. VEE.TO - Volatility Comparison

Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.89% compared to Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) at 6.95%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than VEE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AVESVEE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.89%

6.95%

+1.94%

Volatility (6M)

Calculated over the trailing 6-month period

15.88%

13.97%

+1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

18.34%

16.75%

+1.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.20%

16.54%

+0.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.20%

18.07%

-0.87%

AVES vs. VEE.TO - Expense Ratio Comparison

AVES has a 0.36% expense ratio, which is higher than VEE.TO's 0.25% expense ratio.

Dividends

AVES vs. VEE.TO - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 3.53%, more than VEE.TO's 1.93% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.93%2.26%2.45%2.83%3.35%2.18%1.62%2.71%2.24%1.93%2.01%2.53%

Frequently Asked Questions

AVES and VEE.TO 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.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.36% for AVES.

They also come from different issuers: Avantis and Vanguard. Their fees differ too: 0.36% for AVES and 0.25% for VEE.TO.

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