AVES vs. VEXC

Last updated Jun 24, 2026

AVES (Avantis Emerging Markets Value ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds. AVES is actively managed, while VEXC is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.07%/yr for VEXC.

Performance

AVES vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVES achieves a 12.71% return, which is significantly lower than VEXC's 20.67% return.

AVES

• 1D: -4.26%
• 1M: -0.95%
• YTD: 12.71%
• 6M: 12.82%
• 1Y: 29.26%
• 3Y*: 19.21%
• 5Y*: —
• 10Y*: —

VEXC

• 1D: -3.33%
• 1M: 3.67%
• YTD: 20.67%
• 6M: 21.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVES vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
AVES Avantis Emerging Markets Value ETF	12.71%	3.24%
VEXC Vanguard Emerging Markets Ex-China ETF	20.67%	4.50%

Correlation

The correlation between AVES and VEXC 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 (All Time) Calculated using the full available price history since Oct 2, 2025	0.87

Return for Risk

AVES vs. VEXC — Risk / Return Rank

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

AVES

AVES Risk / Return Rank: 47
AVES Sharpe Ratio Rank: 46
AVES Sortino Ratio Rank: 43
AVES Omega Ratio Rank: 49
AVES Calmar Ratio Rank: 48
AVES Martin Ratio Rank: 50

VEXC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	1.55	—	—
Sortino ratio: Return per unit of downside risk	2.09	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.28	—	—
Martin ratio: Return relative to average drawdown	8.21	—	—

Drawdowns

AVES vs. VEXC - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for AVES and VEXC.

Drawdown Indicators

	AVES	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-27.40%	-12.42%	-14.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	—	—
Current Drawdown Current decline from peak	-5.18%	-3.33%	-1.85%
Average Drawdown Average peak-to-trough decline	-7.67%	-2.23%	-5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	—	—

Volatility

Volatility by Period

	AVES	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	20.27%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	20.27%	-2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	20.27%	-2.91%

AVES vs. VEXC - Expense Ratio Comparison

AVES has a 0.36% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

AVES vs. VEXC - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 3.62%, more than VEXC's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	3.62%	3.17%	4.09%	3.96%	3.70%	0.62%
VEXC Vanguard Emerging Markets Ex-China ETF	1.43%	0.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVES and VEXC in my portfolio?

AVES and VEXC 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.

Which ETF is better, AVES or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVES or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.36% for AVES.

Which ETF pays a higher dividend yield, AVES or VEXC?

AVES has the higher dividend yield at 3.62%, compared with 1.43% for VEXC.

What is the main difference between AVES and VEXC?

They also come from different issuers: Avantis and Vanguard. Their fees differ too: 0.36% for AVES and 0.07% for VEXC.