AVNM vs. AVDE

Last updated Jun 24, 2026

AVNM (Avantis All International Markets Equity ETF) and AVDE (Avantis International Equity ETF) are both Foreign Large Cap Equities funds from Avantis. Both are actively managed. Over the past year, AVNM returned 32.61% vs 26.87% for AVDE. With a 0.97 correlation, they move nearly in lockstep. AVNM charges 0.31%/yr vs 0.23%/yr for AVDE.

Performance

AVNM vs. AVDE - Performance Comparison

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

Returns By Period

In the year-to-date period, AVNM achieves a 12.75% return, which is significantly higher than AVDE's 9.44% return.

AVNM

• 1D: -2.89%
• 1M: -0.29%
• YTD: 12.75%
• 6M: 12.64%
• 1Y: 32.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVDE

• 1D: -2.02%
• 1M: -0.88%
• YTD: 9.44%
• 6M: 8.96%
• 1Y: 26.87%
• 3Y*: 19.94%
• 5Y*: 10.08%
• 10Y*: —

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

AVNM vs. AVDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVNM Avantis All International Markets Equity ETF	12.75%	38.30%	5.52%	8.60%
AVDE Avantis International Equity ETF	9.44%	38.05%	4.88%	7.85%

Correlation

The correlation between AVNM and AVDE is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.97

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

AVNM vs. AVDE - Sectors Allocation Comparison

Sectors	AVNM	AVDE
Financial Services	22.5%	23.9%
Industrials	17.1%	20.2%
Technology	15.0%	8.0%
Basic Materials	11.4%	11.4%
Consumer Cyclical	9.9%	9.4%
Energy	7.7%	7.4%
Communication Services	4.4%	4.1%
Healthcare	4.2%	5.7%
Consumer Defensive	3.7%	4.3%
Utilities	2.6%	4.0%
Real Estate	1.5%	1.5%

Return for Risk

AVNM vs. AVDE — Risk / Return Rank

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

AVNM

AVNM Risk / Return Rank: 63
AVNM Sharpe Ratio Rank: 65
AVNM Sortino Ratio Rank: 60
AVNM Omega Ratio Rank: 66
AVNM Calmar Ratio Rank: 60
AVNM Martin Ratio Rank: 63

AVDE

AVDE Risk / Return Rank: 53
AVDE Sharpe Ratio Rank: 54
AVDE Sortino Ratio Rank: 53
AVDE Omega Ratio Rank: 53
AVDE Calmar Ratio Rank: 49
AVDE Martin Ratio Rank: 55

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.

AVNM vs. AVDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis All International Markets Equity ETF (AVNM) and Avantis International Equity ETF (AVDE). 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.

	AVNM	AVDE	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.78	+0.27
Sortino ratio: Return per unit of downside risk	2.72	2.48	+0.24
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	2.83	2.35	+0.48
Martin ratio: Return relative to average drawdown	10.85	9.18	+1.67

AVNM vs. AVDE - Sharpe Ratio Comparison

The current AVNM Sharpe Ratio is 2.05, which is comparable to the AVDE Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of AVNM and AVDE, 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

AVNM vs. AVDE - Drawdown Comparison

The maximum AVNM drawdown since its inception was -14.03%, smaller than the maximum AVDE drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for AVNM and AVDE.

Drawdown Indicators

	AVNM	AVDE	Difference
Max Drawdown Largest peak-to-trough decline	-14.03%	-36.99%	+22.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-11.48%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.73%	—
Current Drawdown Current decline from peak	-2.91%	-2.37%	-0.54%
Average Drawdown Average peak-to-trough decline	-2.54%	-6.13%	+3.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.93%	+0.08%

Volatility

AVNM vs. AVDE - Volatility Comparison

Avantis All International Markets Equity ETF (AVNM) has a higher volatility of 7.02% compared to Avantis International Equity ETF (AVDE) at 5.36%. This indicates that AVNM's price experiences larger fluctuations and is considered to be riskier than AVDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVNM	AVDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.02%	5.36%	+1.66%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	12.95%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.98%	15.13%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	16.39%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	18.92%	-3.74%

AVNM vs. AVDE - Expense Ratio Comparison

AVNM has a 0.31% expense ratio, which is higher than AVDE's 0.23% expense ratio.

Dividends

AVNM vs. AVDE - Dividend Comparison

AVNM's dividend yield for the trailing twelve months is around 3.61%, less than AVDE's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDE Avantis International Equity ETF	3.89%	2.66%	3.29%	3.01%	2.79%	2.46%	1.63%	0.29%
AVNM Avantis All International Markets Equity ETF	3.61%	2.76%	3.51%	1.69%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVNM and AVDE in my portfolio?

With a correlation of 0.97, AVNM and AVDE 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, AVNM or AVDE?

AVNM has higher volatility (7.02%) compared to AVDE (5.36%). In terms of maximum drawdown, AVNM dropped -14.03% vs AVDE's -36.99%.

Which ETF is better, AVNM or AVDE?

On 1-year performance, AVNM leads with 32.61% vs 26.87% for AVDE. On fees, AVDE is cheaper at 0.23% per year. On volatility, AVDE has been the lower-risk option at 5.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVNM or AVDE?

Over the 1-year period, AVNM has performed better with a 32.61% return vs 26.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVNM or AVDE?

AVDE is cheaper with a 0.23% expense ratio, compared with 0.31% for AVNM.

Which ETF pays a higher dividend yield, AVNM or AVDE?

AVDE has the higher dividend yield at 3.89%, compared with 3.61% for AVNM.

What is the main difference between AVNM and AVDE?

Their fees differ too: 0.31% for AVNM and 0.23% for AVDE.

Which has better risk-adjusted returns?

AVNM currently has the higher Sharpe Ratio (2.05 vs 1.78), 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.