AVMA vs. AVGE

Last updated Jun 23, 2026

AVMA (Avantis Moderate Allocation ETF) and AVGE (Avantis All Equity Markets ETF) are both exchange-traded funds - AVMA is a Diversified Portfolio fund actively managed by Avantis, while AVGE is a Global Equities fund actively managed by Avantis. Both are actively managed. Over the past year, AVMA returned 24.52% vs 35.00% for AVGE. With a 0.98 correlation, they move nearly in lockstep. AVMA charges 0.21%/yr vs 0.23%/yr for AVGE.

Performance

AVMA vs. AVGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Moderate Allocation ETF (AVMA) and Avantis All Equity Markets ETF (AVGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVMA achieves a 11.22% return, which is significantly lower than AVGE's 16.74% return.

AVMA

• 1D: 0.10%
• 1M: 1.65%
• YTD: 11.22%
• 6M: 10.95%
• 1Y: 24.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGE

• 1D: 0.31%
• 1M: 2.44%
• YTD: 16.74%
• 6M: 16.11%
• 1Y: 35.00%
• 3Y*: 21.77%
• 5Y*: —
• 10Y*: —

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

AVMA vs. AVGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVMA Avantis Moderate Allocation ETF	11.22%	16.72%	10.01%	8.36%
AVGE Avantis All Equity Markets ETF	16.74%	20.84%	13.96%	10.77%

Correlation

The correlation between AVMA and AVGE is 0.99 - 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	0.99
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.98

The correlation between AVMA and AVGE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

AVMA vs. AVGE — Risk / Return Rank

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

AVMA

AVMA Risk / Return Rank: 83
AVMA Sharpe Ratio Rank: 85
AVMA Sortino Ratio Rank: 87
AVMA Omega Ratio Rank: 85
AVMA Calmar Ratio Rank: 77
AVMA Martin Ratio Rank: 83

AVGE

AVGE Risk / Return Rank: 85
AVGE Sharpe Ratio Rank: 86
AVGE Sortino Ratio Rank: 86
AVGE Omega Ratio Rank: 84
AVGE Calmar Ratio Rank: 81
AVGE Martin Ratio Rank: 86

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.

AVMA vs. AVGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Moderate Allocation ETF (AVMA) and Avantis All Equity Markets ETF (AVGE). 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.

	AVMA	AVGE	Difference
Sharpe ratio: Return per unit of total volatility	2.63	2.70	-0.07
Sortino ratio: Return per unit of downside risk	3.75	3.67	+0.07
Omega ratio: Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio: Return relative to maximum drawdown	3.85	4.09	-0.24
Martin ratio: Return relative to average drawdown	16.15	17.28	-1.12

AVMA vs. AVGE - Sharpe Ratio Comparison

The current AVMA Sharpe Ratio is 2.63, which is comparable to the AVGE Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of AVMA and AVGE, 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

AVMA vs. AVGE - Drawdown Comparison

The maximum AVMA drawdown since its inception was -11.81%, smaller than the maximum AVGE drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for AVMA and AVGE.

Drawdown Indicators

	AVMA	AVGE	Difference
Max Drawdown Largest peak-to-trough decline	-11.81%	-17.13%	+5.32%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-8.60%	+2.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.13%	—
Current Drawdown Current decline from peak	-0.22%	-0.28%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.54%	-2.40%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	2.03%	-0.51%

Volatility

AVMA vs. AVGE - Volatility Comparison

The current volatility for Avantis Moderate Allocation ETF (AVMA) is 3.26%, while Avantis All Equity Markets ETF (AVGE) has a volatility of 4.74%. This indicates that AVMA experiences smaller price fluctuations and is considered to be less risky than AVGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVMA	AVGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	4.74%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	10.44%	-2.89%
Volatility (1Y) Calculated over the trailing 1-year period	9.37%	13.05%	-3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.35%	15.26%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.35%	15.26%	-4.91%

AVMA vs. AVGE - Expense Ratio Comparison

AVMA has a 0.21% expense ratio, which is lower than AVGE's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVMA vs. AVGE - Dividend Comparison

AVMA's dividend yield for the trailing twelve months is around 3.00%, more than AVGE's 2.10% yield.

Position	TTM	2025	2024	2023	2022
AVGE Avantis All Equity Markets ETF	2.10%	1.67%	1.92%	1.93%	0.74%
AVMA Avantis Moderate Allocation ETF	3.00%	2.21%	2.28%	1.11%	0.00%

Frequently Asked Questions

Can I hold both AVMA and AVGE in my portfolio?

With a correlation of 0.99, AVMA and AVGE 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, AVMA or AVGE?

AVGE has higher volatility (4.74%) compared to AVMA (3.26%). In terms of maximum drawdown, AVMA dropped -11.81% vs AVGE's -17.13%.

Which ETF is better, AVMA or AVGE?

On 1-year performance, AVGE leads with 35.00% vs 24.52% for AVMA. On fees, AVMA is cheaper at 0.21% per year. On volatility, AVMA has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVMA or AVGE?

Over the 1-year period, AVGE has performed better with a 35.00% return vs 24.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVMA or AVGE?

AVMA is cheaper with a 0.21% expense ratio, compared with 0.23% for AVGE.

Which ETF pays a higher dividend yield, AVMA or AVGE?

AVMA has the higher dividend yield at 3.00%, compared with 2.10% for AVGE.

What is the main difference between AVMA and AVGE?

AVMA is categorized as Diversified Portfolio, while AVGE is Global Equities. Their fees differ too: 0.21% for AVMA and 0.23% for AVGE.

Which has better risk-adjusted returns?

AVGE currently has the higher Sharpe Ratio (2.70 vs 2.63), 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.