AVRY vs. AFOS

Last updated Jun 4, 2026

AVRY (Avory Foundational ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. At a 0.31 correlation, their price movements are largely independent. AVRY charges 0.89%/yr vs 0.45%/yr for AFOS.

Performance

AVRY vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avory Foundational ETF (AVRY) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AVRY

• 1D: -2.89%
• 1M: -0.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVRY vs. AFOS - Yearly Performance Comparison

	2026 (YTD)
AVRY Avory Foundational ETF	-7.09%
AFOS ARS Focused Opportunities Strategy ETF	20.71%

Correlation

The correlation between AVRY and AFOS is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	0.31

Return for Risk

AVRY vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avory Foundational ETF (AVRY) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AVRY	AFOS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	4.35	-4.98

Drawdowns

AVRY vs. AFOS - Drawdown Comparison

The maximum AVRY drawdown since its inception was -21.58%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for AVRY and AFOS.

Drawdown Indicators

	AVRY	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-21.58%	-11.52%	-10.06%
Current Drawdown Current decline from peak	-8.49%	-0.29%	-8.20%
Average Drawdown Average peak-to-trough decline	-11.91%	-1.37%	-10.54%

Volatility

Volatility by Period

	AVRY	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	29.05%	20.19%	+8.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.05%	20.19%	+8.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.05%	20.19%	+8.86%

AVRY vs. AFOS - Expense Ratio Comparison

AVRY has a 0.89% expense ratio, which is higher than AFOS's 0.45% expense ratio.

Dividends

AVRY vs. AFOS - Dividend Comparison

AVRY has not paid dividends to shareholders, while AFOS's dividend yield for the trailing twelve months is around 0.22%.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
AVRY Avory Foundational ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVRY and AFOS in my portfolio?

AVRY and AFOS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVRY or AFOS?

On fees, AFOS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVRY or AFOS?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.89% for AVRY.

Which ETF pays a higher dividend yield, AVRY or AFOS?

AFOS has the higher dividend yield at 0.22%, compared with 0.00% for AVRY.

What is the main difference between AVRY and AFOS?

They also come from different issuers: Avory & Co. and ARS Investment Partners. Their fees differ too: 0.89% for AVRY and 0.45% for AFOS.