AVRE vs. AVES

Last updated Aug 2, 2026

AVRE (Avantis Real Estate ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - AVRE is a REIT fund actively managed by Avantis, while AVES is a Emerging Markets Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, AVRE returned 9.26%/yr vs 14.88%/yr for AVES. Their 0.48 correlation means their historical movements had little consistent relationship. AVRE charges 0.17%/yr vs 0.36%/yr for AVES.

Performance

AVRE vs. AVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Real Estate ETF (AVRE) and Avantis Emerging Markets Value ETF (AVES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVRE achieves a 12.91% return, which is significantly higher than AVES's 7.59% return.

AVRE

• 1D: -0.75%
• 1M: 1.42%
• 6M: 9.88%
• YTD: 12.91%
• 1Y: 15.76%
• 3Y*: 9.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.77%

AVES

• 1D: -0.75%
• 1M: -4.02%
• 6M: 0.78%
• YTD: 7.59%
• 1Y: 19.41%
• 3Y*: 14.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVES Avantis Emerging Markets Value ETF	$7.66M	$7.29M	$6.23M
AVRE Avantis Real Estate ETF	$3.54M	$2.97M	$3.01M

AVRE vs. AVES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVRE Avantis Real Estate ETF	12.91%	8.34%	0.54%	9.10%	-23.70%	11.45%
AVES Avantis Emerging Markets Value ETF	7.59%	30.49%	4.50%	16.79%	-16.04%	0.95%

Correlation

The correlation between AVRE and AVES is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.48

Over the past year, the correlation between AVRE and AVES has dropped to 0.26 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

AVRE vs. AVES — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AVRE

AVRE Risk / Return Rank: 53
AVRE Sharpe Ratio Rank: 55
AVRE Sortino Ratio Rank: 54
AVRE Omega Ratio Rank: 53
AVRE Calmar Ratio Rank: 48
AVRE Martin Ratio Rank: 54

AVES

AVES Risk / Return Rank: 39
AVES Sharpe Ratio Rank: 38
AVES Sortino Ratio Rank: 36
AVES Omega Ratio Rank: 39
AVES Calmar Ratio Rank: 41
AVES Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AVRE vs. AVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Real Estate ETF (AVRE) and Avantis Emerging Markets Value ETF (AVES). 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.

	AVRE	AVES	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.93	+0.39
Sortino ratio: Return per unit of downside risk	1.87	1.36	+0.52
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.05
Calmar ratio: Return relative to maximum drawdown	1.72	1.44	+0.27
Martin ratio: Return relative to average drawdown	6.41	4.35	+2.06

AVRE vs. AVES - Sharpe Ratio Comparison

The current AVRE Sharpe Ratio is 1.32, which is higher than the AVES Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of AVRE and AVES, 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

AVRE vs. AVES - Drawdown Comparison

The maximum AVRE drawdown since its inception was -32.52%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for AVRE and AVES.

Drawdown Indicators

	AVRE	AVES	Difference
Max Drawdown Largest peak-to-trough decline	-32.52%	-27.40%	-5.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-12.90%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-18.50%	+1.16%
Current Drawdown Current decline from peak	-1.38%	-9.48%	+8.10%
Average Drawdown Average peak-to-trough decline	-14.30%	-7.66%	-6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	4.26%	-1.76%

Volatility

AVRE vs. AVES - Volatility Comparison

The current volatility for Avantis Real Estate ETF (AVRE) is 3.50%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 6.96%. This indicates that AVRE experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVRE	AVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	6.96%	-3.46%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	18.01%	-8.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	20.01%	-7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	17.49%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.52%	17.49%	-0.97%

AVRE vs. AVES - Expense Ratio Comparison

AVRE has a 0.17% expense ratio, which is lower than AVES's 0.36% expense ratio.

Dividends

AVRE vs. AVES - Dividend Comparison

AVRE's dividend yield for the trailing twelve months is around 3.34%, more than AVES's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	2.59%	3.17%	4.09%	3.96%	3.70%	0.62%
AVRE Avantis Real Estate ETF	3.34%	4.30%	3.99%	3.33%	3.78%	0.61%

Frequently Asked Questions

Can I hold both AVRE and AVES in my portfolio?

AVRE and AVES have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVRE or AVES?

AVES has higher volatility (6.96%) compared to AVRE (3.50%). In terms of maximum drawdown, AVRE dropped -32.52% vs AVES's -27.40%.

Which ETF is better, AVRE or AVES?

On 3-year performance, AVES leads with 14.88% vs 9.26% for AVRE. On fees, AVRE is cheaper at 0.17% per year. On volatility, AVRE has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVRE or AVES?

Over the 3-year period, AVES has performed better with a 14.88% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVRE or AVES?

AVRE is cheaper with a 0.17% expense ratio, compared with 0.36% for AVES.

Which ETF pays a higher dividend yield, AVRE or AVES?

AVRE has the higher dividend yield at 3.34%, compared with 2.59% for AVES.

What is the main difference between AVRE and AVES?

AVRE is categorized as REIT, while AVES is Emerging Markets Equities. Their fees differ too: 0.17% for AVRE and 0.36% for AVES.

Which has better risk-adjusted returns?

AVRE currently has the higher Sharpe Ratio (1.32 vs 0.93), 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.