AVIV vs. SPDW

Last updated Jul 14, 2026

AVIV (Avantis International Large Cap Value ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds. AVIV is actively managed, while SPDW is passively managed. Over the past 3 years, AVIV returned 19.99%/yr vs 17.64%/yr for SPDW. With a 0.95 correlation, they move nearly in lockstep. AVIV charges 0.25%/yr vs 0.04%/yr for SPDW.

Performance

AVIV vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIV achieves a 11.25% return, which is significantly lower than SPDW's 12.94% return.

AVIV

• 1D: -0.69%
• 1M: -0.72%
• 6M: 7.95%
• YTD: 11.25%
• 1Y: 28.53%
• 3Y*: 19.99%
• 5Y*: —
• 10Y*: —

SPDW

• 1D: -1.65%
• 1M: -1.67%
• 6M: 8.66%
• YTD: 12.94%
• 1Y: 26.46%
• 3Y*: 17.64%
• 5Y*: 9.36%
• 10Y*: 9.97%

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

AVIV vs. SPDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	11.25%	41.80%	4.30%	18.47%	-8.26%	1.83%
SPDW SPDR Portfolio World ex-US ETF	12.94%	34.75%	3.55%	17.81%	-15.98%	2.11%

Correlation

The correlation between AVIV and SPDW is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.95

The correlation between AVIV and SPDW has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

AVIV vs. SPDW - Sectors Allocation Comparison

Sectors	AVIV	SPDW
Financial Services	27.3%	22.2%
Industrials	18.5%	18.4%
Energy	13.0%	4.9%
Basic Materials	12.7%	7.3%
Consumer Cyclical	10.2%	7.8%
Communication Services	4.7%	3.9%
Healthcare	4.7%	7.9%
Technology	4.0%	16.8%
Consumer Defensive	3.2%	5.4%
Real Estate	1.0%	2.3%
Utilities	0.7%	3.0%

Return for Risk

AVIV vs. SPDW — Risk / Return Rank

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

AVIV

AVIV Risk / Return Rank: 73
AVIV Sharpe Ratio Rank: 77
AVIV Sortino Ratio Rank: 76
AVIV Omega Ratio Rank: 76
AVIV Calmar Ratio Rank: 67
AVIV Martin Ratio Rank: 70

SPDW

SPDW Risk / Return Rank: 59
SPDW Sharpe Ratio Rank: 59
SPDW Sortino Ratio Rank: 58
SPDW Omega Ratio Rank: 59
SPDW Calmar Ratio Rank: 58
SPDW Martin Ratio Rank: 62

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. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and SPDR Portfolio World ex-US ETF (SPDW). 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	SPDW	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.57	+0.37
Sortino ratio: Return per unit of downside risk	2.70	2.19	+0.51
Omega ratio: Gain probability vs. loss probability	1.35	1.29	+0.07
Calmar ratio: Return relative to maximum drawdown	2.66	2.30	+0.36
Martin ratio: Return relative to average drawdown	10.22	8.78	+1.44

AVIV vs. SPDW - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 1.95, which is comparable to the SPDW Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of AVIV and SPDW, 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. SPDW - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum SPDW drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for AVIV and SPDW.

Drawdown Indicators

	AVIV	SPDW	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-60.02%	+32.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-11.55%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-13.53%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-1.62%	-3.29%	+1.67%
Average Drawdown Average peak-to-trough decline	-5.04%	-12.85%	+7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	3.02%	-0.22%

Volatility

AVIV vs. SPDW - Volatility Comparison

The current volatility for Avantis International Large Cap Value ETF (AVIV) is 4.58%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 6.27%. This indicates that AVIV experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	SPDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	6.27%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	12.63%	14.91%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	16.91%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	16.73%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	17.09%	-0.22%

AVIV vs. SPDW - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than SPDW's 0.04% 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. SPDW - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 2.55%, less than SPDW's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVIV Avantis International Large Cap Value ETF	2.55%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDW SPDR Portfolio World ex-US ETF	3.07%	3.30%	3.19%	2.75%	3.12%	3.04%	1.87%	3.13%	3.08%	1.86%	3.11%	2.78%

Frequently Asked Questions

Can I hold both AVIV and SPDW in my portfolio?

With a correlation of 0.93, AVIV and SPDW 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 SPDW?

SPDW has higher volatility (6.27%) compared to AVIV (4.58%). In terms of maximum drawdown, AVIV dropped -27.69% vs SPDW's -60.02%.

Which ETF is better, AVIV or SPDW?

On 3-year performance, AVIV leads with 19.99% vs 17.64% for SPDW. On fees, SPDW is cheaper at 0.04% per year. On volatility, AVIV has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIV or SPDW?

Over the 3-year period, AVIV has performed better with a 19.99% return vs 17.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIV or SPDW?

SPDW is cheaper with a 0.04% expense ratio, compared with 0.25% for AVIV.

Which ETF pays a higher dividend yield, AVIV or SPDW?

SPDW has the higher dividend yield at 3.07%, compared with 2.55% for AVIV.

What is the main difference between AVIV and SPDW?

They also come from different issuers: Avantis and State Street. Their fees differ too: 0.25% for AVIV and 0.04% for SPDW.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (1.95 vs 1.57), 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.