AVMV vs. VVOAX

Last updated Jun 24, 2026

AVMV (Avantis U.S. Mid Cap Value ETF) and VVOAX (Invesco Value Opportunities Fund) are both Mid Cap Value Equities funds. Over the past year, AVMV returned 25.54% vs 48.22% for VVOAX. Their correlation of 0.85 suggests significant overlap in exposure. AVMV charges 0.20%/yr vs 1.22%/yr for VVOAX.

Performance

AVMV vs. VVOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Mid Cap Value ETF (AVMV) and Invesco Value Opportunities Fund (VVOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVMV achieves a 12.90% return, which is significantly lower than VVOAX's 24.13% return.

AVMV

• 1D: -0.50%
• 1M: 1.57%
• YTD: 12.90%
• 6M: 11.46%
• 1Y: 25.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VVOAX

• 1D: 1.32%
• 1M: 5.02%
• YTD: 24.13%
• 6M: 22.31%
• 1Y: 48.22%
• 3Y*: 31.57%
• 5Y*: 19.46%
• 10Y*: 17.31%

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

AVMV vs. VVOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVMV Avantis U.S. Mid Cap Value ETF	12.90%	10.46%	18.43%	14.13%
VVOAX Invesco Value Opportunities Fund	24.13%	20.24%	30.01%	14.33%

Correlation

The correlation between AVMV and VVOAX is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.85

The correlation between AVMV and VVOAX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

Return for Risk

AVMV vs. VVOAX — Risk / Return Rank

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

AVMV

AVMV Risk / Return Rank: 61
AVMV Sharpe Ratio Rank: 56
AVMV Sortino Ratio Rank: 59
AVMV Omega Ratio Rank: 53
AVMV Calmar Ratio Rank: 70
AVMV Martin Ratio Rank: 64

VVOAX

VVOAX Risk / Return Rank: 85
VVOAX Sharpe Ratio Rank: 86
VVOAX Sortino Ratio Rank: 74
VVOAX Omega Ratio Rank: 74
VVOAX Calmar Ratio Rank: 95
VVOAX Martin Ratio Rank: 93

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.

AVMV vs. VVOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Mid Cap Value ETF (AVMV) and Invesco Value Opportunities Fund (VVOAX). 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.

	AVMV	VVOAX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.58	-0.76
Sortino ratio: Return per unit of downside risk	2.66	3.28	-0.61
Omega ratio: Gain probability vs. loss probability	1.32	1.44	-0.12
Calmar ratio: Return relative to maximum drawdown	3.37	5.36	-1.99
Martin ratio: Return relative to average drawdown	11.03	18.49	-7.47

AVMV vs. VVOAX - Sharpe Ratio Comparison

The current AVMV Sharpe Ratio is 1.83, which is comparable to the VVOAX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of AVMV and VVOAX, 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

AVMV vs. VVOAX - Drawdown Comparison

The maximum AVMV drawdown since its inception was -24.24%, smaller than the maximum VVOAX drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for AVMV and VVOAX.

Drawdown Indicators

	AVMV	VVOAX	Difference
Max Drawdown Largest peak-to-trough decline	-24.24%	-62.08%	+37.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-9.21%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.80%	—
Current Drawdown Current decline from peak	-1.48%	-0.65%	-0.83%
Average Drawdown Average peak-to-trough decline	-3.83%	-11.71%	+7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.66%	-0.34%

Volatility

AVMV vs. VVOAX - Volatility Comparison

The current volatility for Avantis U.S. Mid Cap Value ETF (AVMV) is 3.76%, while Invesco Value Opportunities Fund (VVOAX) has a volatility of 8.67%. This indicates that AVMV experiences smaller price fluctuations and is considered to be less risky than VVOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVMV	VVOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	8.67%	-4.91%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	15.14%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	19.12%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.93%	21.31%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.93%	24.27%	-6.34%

AVMV vs. VVOAX - Expense Ratio Comparison

AVMV has a 0.20% expense ratio, which is lower than VVOAX's 1.22% expense ratio.

Dividends

AVMV vs. VVOAX - Dividend Comparison

AVMV's dividend yield for the trailing twelve months is around 1.32%, less than VVOAX's 8.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVMV Avantis U.S. Mid Cap Value ETF	1.32%	1.20%	1.30%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VVOAX Invesco Value Opportunities Fund	8.40%	10.43%	7.79%	2.27%	9.79%	8.82%	0.25%	1.95%	15.44%	5.11%	1.10%	15.87%

Frequently Asked Questions

Can I hold both AVMV and VVOAX in my portfolio?

AVMV and VVOAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVMV or VVOAX?

VVOAX has higher volatility (8.67%) compared to AVMV (3.76%). In terms of maximum drawdown, AVMV dropped -24.24% vs VVOAX's -62.08%.

Which has better risk-adjusted returns?

VVOAX currently has the higher Sharpe Ratio (2.58 vs 1.83), 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.