AVIV vs. AVDEX

Last updated Jun 24, 2026

AVIV (Avantis International Large Cap Value ETF) and AVDEX (Avantis International Equity Fund) are both Foreign Large Cap Equities funds. Over the past 3 years, AVIV returned 21.66%/yr vs 20.45%/yr for AVDEX. With a 0.97 correlation, they move nearly in lockstep. AVIV charges 0.25%/yr vs 0.23%/yr for AVDEX.

Performance

AVIV vs. AVDEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and Avantis International Equity Fund (AVDEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIV achieves a 10.16% return, which is significantly lower than AVDEX's 11.56% return.

AVIV

• 1D: -1.67%
• 1M: -0.96%
• YTD: 10.16%
• 6M: 9.57%
• 1Y: 31.22%
• 3Y*: 21.66%
• 5Y*: —
• 10Y*: —

AVDEX

• 1D: 0.17%
• 1M: 1.17%
• YTD: 11.56%
• 6M: 10.92%
• 1Y: 29.25%
• 3Y*: 20.45%
• 5Y*: 10.54%
• 10Y*: —

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

AVIV vs. AVDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	10.16%	41.80%	4.30%	18.47%	-8.26%	1.83%
AVDEX Avantis International Equity Fund	11.56%	37.35%	4.89%	16.99%	-13.90%	2.65%

Correlation

The correlation between AVIV and AVDEX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.97

The correlation between AVIV and AVDEX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

AVIV vs. AVDEX — Risk / Return Rank

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

AVIV

AVIV Risk / Return Rank: 66
AVIV Sharpe Ratio Rank: 69
AVIV Sortino Ratio Rank: 67
AVIV Omega Ratio Rank: 69
AVIV Calmar Ratio Rank: 61
AVIV Martin Ratio Rank: 65

AVDEX

AVDEX Risk / Return Rank: 53
AVDEX Sharpe Ratio Rank: 57
AVDEX Sortino Ratio Rank: 53
AVDEX Omega Ratio Rank: 53
AVDEX Calmar Ratio Rank: 50
AVDEX Martin Ratio Rank: 52

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.

AVIV vs. AVDEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and Avantis International Equity Fund (AVDEX). 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.

	AVIV	AVDEX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.05	+0.08
Sortino ratio: Return per unit of downside risk	2.93	2.83	+0.10
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	2.91	2.60	+0.31
Martin ratio: Return relative to average drawdown	11.34	10.08	+1.26

AVIV vs. AVDEX - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.14, which is comparable to the AVDEX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of AVIV and AVDEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. AVDEX - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum AVDEX drawdown of -36.28%. Use the drawdown chart below to compare losses from any high point for AVIV and AVDEX.

Drawdown Indicators

	AVIV	AVDEX	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-36.28%	+8.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-11.58%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-13.04%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.73%	—
Current Drawdown Current decline from peak	-2.59%	-0.52%	-2.07%
Average Drawdown Average peak-to-trough decline	-5.08%	-6.32%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.98%	-0.22%

Volatility

AVIV vs. AVDEX - Volatility Comparison

Avantis International Large Cap Value ETF (AVIV) has a higher volatility of 5.00% compared to Avantis International Equity Fund (AVDEX) at 4.69%. This indicates that AVIV's price experiences larger fluctuations and is considered to be riskier than AVDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	AVDEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	4.69%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	12.35%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.67%	14.70%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	16.02%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	18.61%	-1.70%

AVIV vs. AVDEX - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than AVDEX's 0.23% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIV vs. AVDEX - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 4.01%, more than AVDEX's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDEX Avantis International Equity Fund	2.86%	3.19%	3.67%	3.17%	2.22%	3.46%	1.67%	0.10%
AVIV Avantis International Large Cap Value ETF	4.01%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVIV and AVDEX in my portfolio?

With a correlation of 0.96, AVIV and AVDEX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVIV or AVDEX?

AVIV has higher volatility (5.00%) compared to AVDEX (4.69%). In terms of maximum drawdown, AVIV dropped -27.69% vs AVDEX's -36.28%.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.14 vs 2.05), 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.