AVIG vs. AVMU
AVIG (Avantis Core Fixed Income ETF) and AVMU (Avantis Core Municipal Fixed Income ETF) are both exchange-traded funds - AVIG is a Intermediate Core Bond fund actively managed by Avantis, while AVMU is a Municipal Bonds fund actively managed by Avantis. Both are actively managed. Over the past 5 years, AVIG returned 0.13%/yr vs 0.95%/yr for AVMU. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
AVIG vs. AVMU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AVIG achieves a 0.08% return, which is significantly lower than AVMU's 1.71% return.
AVIG
- 1D
- -0.21%
- 1M
- 0.11%
- YTD
- 0.08%
- 6M
- 0.01%
- 1Y
- 5.39%
- 3Y*
- 4.44%
- 5Y*
- 0.13%
- 10Y*
- —
AVMU
- 1D
- 0.06%
- 1M
- 0.54%
- YTD
- 1.71%
- 6M
- 2.83%
- 1Y
- 8.50%
- 3Y*
- 3.75%
- 5Y*
- 0.95%
- 10Y*
- —
AVIG vs. AVMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 0.08% | 7.98% | 1.55% | 6.41% | -13.94% | -2.15% | 0.57% |
AVMU Avantis Core Municipal Fixed Income ETF | 1.71% | 3.87% | 1.72% | 5.18% | -7.33% | 0.27% | 0.19% |
Correlation
The correlation between AVIG and AVMU is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2020 | 0.68 |
The correlation between AVIG and AVMU shifts across timeframes, from 0.57 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AVIG vs. AVMU — Risk / Return Rank
AVIG
AVMU
AVIG vs. AVMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Core Fixed Income ETF (AVIG) and Avantis Core Municipal Fixed Income ETF (AVMU). 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.
| AVIG | AVMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.56 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.57 | -0.65 |
| Martin ratioReturn relative to average drawdown | 5.85 | 9.69 | -3.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AVIG | AVMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 2.62 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.23 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.24 | -0.26 |
Drawdowns
AVIG vs. AVMU - Drawdown Comparison
The maximum AVIG drawdown since its inception was -19.64%, which is greater than AVMU's maximum drawdown of -12.41%. Use the drawdown chart below to compare losses from any high point for AVIG and AVMU.
Loading charts...
Drawdown Indicators
| AVIG | AVMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -12.41% | -7.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -3.32% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | -6.38% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -19.47% | -12.41% | -7.06% |
Current DrawdownCurrent decline from peak | -1.66% | -0.53% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -3.77% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.88% | +0.04% |
Volatility
AVIG vs. AVMU - Volatility Comparison
Avantis Core Fixed Income ETF (AVIG) has a higher volatility of 1.32% compared to Avantis Core Municipal Fixed Income ETF (AVMU) at 1.19%. This indicates that AVIG's price experiences larger fluctuations and is considered to be riskier than AVMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AVIG | AVMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.19% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 2.31% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.26% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 4.13% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 3.99% | +2.02% |
AVIG vs. AVMU - Expense Ratio Comparison
Both AVIG and AVMU have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
AVIG vs. AVMU - Dividend Comparison
AVIG's dividend yield for the trailing twelve months is around 4.04%, more than AVMU's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 4.04% | 4.36% | 4.66% | 4.06% | 2.53% | 1.12% | 0.22% |
AVMU Avantis Core Municipal Fixed Income ETF | 3.22% | 3.50% | 3.32% | 2.50% | 1.29% | 0.77% | 0.00% |
Frequently Asked Questions
AVIG and AVMU have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVIG has higher volatility (1.32%) compared to AVMU (1.19%). In terms of maximum drawdown, AVIG dropped -19.64% vs AVMU's -12.41%.
On 5-year performance, AVMU leads with 0.95% vs 0.13% for AVIG. Both ETFs have the same 0.15% expense ratio. On volatility, AVMU has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AVMU has performed better with a 0.95% return vs 0.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVIG and AVMU have the same expense ratio: 0.15% per year.
AVIG has the higher dividend yield at 4.04%, compared with 3.22% for AVMU.
AVIG is categorized as Intermediate Core Bond, while AVMU is Municipal Bonds.
AVMU currently has the higher Sharpe Ratio (2.62 vs 1.40), 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.
Find the right allocation for AVIG and AVMU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer