AVNM vs. AVIV

Last updated Jun 24, 2026

AVNM (Avantis All International Markets Equity ETF) and AVIV (Avantis International Large Cap Value ETF) are both Foreign Large Cap Equities funds from Avantis. Both are actively managed. Over the past year, AVNM returned 32.61% vs 31.22% for AVIV. With a 0.95 correlation, they move nearly in lockstep. AVNM charges 0.31%/yr vs 0.25%/yr for AVIV.

Performance

AVNM vs. AVIV - 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 Large Cap Value ETF (AVIV). 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 AVIV's 10.16% return.

AVNM

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

AVIV

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

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

AVNM vs. AVIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVNM Avantis All International Markets Equity ETF	12.75%	38.30%	5.52%	8.60%
AVIV Avantis International Large Cap Value ETF	10.16%	41.80%	4.30%	8.85%

Correlation

The correlation between AVNM and AVIV is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.95

The correlation between AVNM and AVIV has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

AVNM vs. AVIV - Sectors Allocation Comparison

Sectors	AVNM	AVIV
Financial Services	22.5%	27.3%
Industrials	17.1%	18.5%
Technology	15.0%	4.0%
Basic Materials	11.4%	12.7%
Consumer Cyclical	9.9%	10.2%
Energy	7.7%	13.0%
Communication Services	4.4%	4.7%
Healthcare	4.2%	4.7%
Consumer Defensive	3.7%	3.2%
Utilities	2.6%	0.7%
Real Estate	1.5%	1.0%

Return for Risk

AVNM vs. AVIV — 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

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

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. AVIV - 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 Large Cap Value ETF (AVIV). 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	AVIV	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.14	-0.09
Sortino ratio: Return per unit of downside risk	2.72	2.93	-0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.83	2.91	-0.08
Martin ratio: Return relative to average drawdown	10.85	11.34	-0.49

AVNM vs. AVIV - Sharpe Ratio Comparison

The current AVNM Sharpe Ratio is 2.05, which is comparable to the AVIV Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of AVNM and AVIV, 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. AVIV - Drawdown Comparison

The maximum AVNM drawdown since its inception was -14.03%, smaller than the maximum AVIV drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for AVNM and AVIV.

Drawdown Indicators

	AVNM	AVIV	Difference
Max Drawdown Largest peak-to-trough decline	-14.03%	-27.69%	+13.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-10.78%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.13%	—
Current Drawdown Current decline from peak	-2.91%	-2.59%	-0.32%
Average Drawdown Average peak-to-trough decline	-2.54%	-5.08%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.76%	+0.25%

Volatility

AVNM vs. AVIV - Volatility Comparison

Avantis All International Markets Equity ETF (AVNM) has a higher volatility of 7.02% compared to Avantis International Large Cap Value ETF (AVIV) at 5.00%. This indicates that AVNM's price experiences larger fluctuations and is considered to be riskier than AVIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVNM	AVIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.02%	5.00%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	12.47%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.98%	14.67%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	16.91%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	16.91%	-1.73%

AVNM vs. AVIV - Expense Ratio Comparison

AVNM has a 0.31% expense ratio, which is higher than AVIV's 0.25% expense ratio.

Dividends

AVNM vs. AVIV - Dividend Comparison

AVNM's dividend yield for the trailing twelve months is around 3.61%, less than AVIV's 4.01% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	4.01%	3.01%	3.46%	3.64%	2.84%	0.57%
AVNM Avantis All International Markets Equity ETF	3.61%	2.76%	3.51%	1.69%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVNM and AVIV in my portfolio?

With a correlation of 0.94, AVNM and AVIV 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 AVIV?

AVNM has higher volatility (7.02%) compared to AVIV (5.00%). In terms of maximum drawdown, AVNM dropped -14.03% vs AVIV's -27.69%.

Which ETF is better, AVNM or AVIV?

On 1-year performance, AVNM leads with 32.61% vs 31.22% for AVIV. On fees, AVIV is cheaper at 0.25% per year. On volatility, AVIV has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVNM or AVIV?

Over the 1-year period, AVNM has performed better with a 32.61% return vs 31.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVNM or AVIV?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.31% for AVNM.

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

AVIV has the higher dividend yield at 4.01%, compared with 3.61% for AVNM.

What is the main difference between AVNM and AVIV?

Their fees differ too: 0.31% for AVNM and 0.25% for AVIV.

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.