AVGS.L vs. AVEM.L
AVGS.L (Avantis Global Small Cap Value UCITS ETF USD Acc) and AVEM.L (Avantis Emerging Markets Equity UCITS ETF USD Acc) are both exchange-traded funds - AVGS.L is a Global Equities fund actively managed by Avantis, while AVEM.L is a Emerging Markets Equities fund actively managed by Avantis. Both are actively managed. Over the past year, AVGS.L returned 37.10% vs 43.37% for AVEM.L. A 0.59 correlation means they provide meaningful diversification when combined. AVGS.L charges 0.39%/yr vs 0.35%/yr for AVEM.L.
Performance
AVGS.L vs. AVEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, AVGS.L achieves a 18.60% return, which is significantly lower than AVEM.L's 23.64% return.
AVGS.L
- 1D
- -0.35%
- 1M
- 3.43%
- YTD
- 18.60%
- 6M
- 18.74%
- 1Y
- 37.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVEM.L
- 1D
- -1.28%
- 1M
- 6.10%
- YTD
- 23.64%
- 6M
- 28.79%
- 1Y
- 43.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVGS.L vs. AVEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AVGS.L Avantis Global Small Cap Value UCITS ETF USD Acc | 18.60% | 22.97% |
AVEM.L Avantis Emerging Markets Equity UCITS ETF USD Acc | 23.64% | 25.36% |
Correlation
The correlation between AVGS.L and AVEM.L is 0.59, 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 | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025 | 0.59 |
The correlation between AVGS.L and AVEM.L has been stable across timeframes, ranging from 0.59 to 0.59 - a consistent structural relationship.
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Return for Risk
AVGS.L vs. AVEM.L — Risk / Return Rank
AVGS.L
AVEM.L
AVGS.L vs. AVEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L) and Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEM.L). 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.
| AVGS.L | AVEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.41 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.52 | 3.32 | +1.20 |
| Martin ratioReturn relative to average drawdown | 15.85 | 12.43 | +3.42 |
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Drawdowns
AVGS.L vs. AVEM.L - Drawdown Comparison
The maximum AVGS.L drawdown since its inception was -20.23%, which is greater than AVEM.L's maximum drawdown of -14.44%. Use the drawdown chart below to compare losses from any high point for AVGS.L and AVEM.L.
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Drawdown Indicators
| AVGS.L | AVEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.23% | -14.44% | -5.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.39% | -13.05% | +4.66% |
Current DrawdownCurrent decline from peak | -1.15% | -1.28% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -2.91% | -2.19% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 3.49% | -1.10% |
Volatility
AVGS.L vs. AVEM.L - Volatility Comparison
The current volatility for Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L) is 4.29%, while Avantis Emerging Markets Equity UCITS ETF USD Acc (AVEM.L) has a volatility of 7.84%. This indicates that AVGS.L experiences smaller price fluctuations and is considered to be less risky than AVEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVGS.L | AVEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 7.84% | -3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 16.60% | -5.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.77% | 19.31% | -4.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 20.09% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 20.09% | -3.10% |
AVGS.L vs. AVEM.L - Expense Ratio Comparison
AVGS.L has a 0.39% expense ratio, which is higher than AVEM.L's 0.35% expense ratio.
Dividends
AVGS.L vs. AVEM.L - Dividend Comparison
Neither AVGS.L nor AVEM.L has paid dividends to shareholders.
Frequently Asked Questions
AVGS.L and AVEM.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVEM.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVEM.L is cheaper with a 0.35% expense ratio, compared with 0.39% for AVGS.L.
AVGS.L is categorized as Global Equities, while AVEM.L is Emerging Markets Equities. Their fees differ too: 0.39% for AVGS.L and 0.35% for AVEM.L.
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