AVSC vs. SPY
AVSC (Avantis US Small Cap Equity ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - AVSC is a Small Cap Value Equities fund tracking the Russell 2000 Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, AVSC returned 18.76%/yr vs 21.27%/yr for SPY. A 0.77 correlation means they provide meaningful diversification when combined. AVSC charges 0.25%/yr vs 0.09%/yr for SPY.
Performance
AVSC vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, AVSC achieves a 21.34% return, which is significantly higher than SPY's 9.74% return.
AVSC
- 1D
- 0.00%
- 1M
- 4.53%
- YTD
- 21.34%
- 6M
- 18.56%
- 1Y
- 44.03%
- 3Y*
- 18.76%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.74%
- 6M
- 9.27%
- 1Y
- 26.65%
- 3Y*
- 21.27%
- 5Y*
- 13.51%
- 10Y*
- 15.70%
AVSC vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AVSC Avantis US Small Cap Equity ETF | 21.34% | 9.42% | 7.75% | 19.68% | -12.40% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -17.49% |
Correlation
The correlation between AVSC and SPY is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022 | 0.77 |
The correlation between AVSC and SPY has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
AVSC vs. SPY — Risk / Return Rank
AVSC
SPY
AVSC vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis US Small Cap Equity ETF (AVSC) and State Street SPDR S&P 500 ETF (SPY). 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.
| AVSC | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.61 | 3.01 | +2.59 |
| Martin ratioReturn relative to average drawdown | 17.56 | 13.54 | +4.03 |
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Drawdowns
AVSC vs. SPY - Drawdown Comparison
The maximum AVSC drawdown since its inception was -28.40%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AVSC and SPY.
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Drawdown Indicators
| AVSC | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.40% | -55.19% | +26.79% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -8.88% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -28.40% | -18.76% | -9.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.38% | -1.75% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -9.04% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.97% | +0.54% |
Volatility
AVSC vs. SPY - Volatility Comparison
Avantis US Small Cap Equity ETF (AVSC) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.68% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVSC | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 4.64% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 12.00% | 9.75% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.21% | 12.43% | +5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.29% | 17.14% | +5.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 17.99% | +4.30% |
AVSC vs. SPY - Expense Ratio Comparison
AVSC has a 0.25% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AVSC vs. SPY - Dividend Comparison
AVSC's dividend yield for the trailing twelve months is around 1.20%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVSC Avantis US Small Cap Equity ETF | 1.20% | 1.16% | 1.17% | 1.42% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
AVSC and SPY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVSC has higher volatility (4.68%) compared to SPY (4.64%). In terms of maximum drawdown, AVSC dropped -28.40% vs SPY's -55.19%.
On 3-year performance, SPY leads with 21.27% vs 18.76% for AVSC. On fees, SPY is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPY has performed better with a 21.27% return vs 18.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.25% for AVSC.
AVSC has the higher dividend yield at 1.20%, compared with 1.01% for SPY.
AVSC is categorized as Small Cap Value Equities, while SPY is S&P 500. AVSC tracks Russell 2000 Index, while SPY tracks S&P 500 Index. They also come from different issuers: Avantis and State Street. Their fees differ too: 0.25% for AVSC and 0.09% for SPY.
AVSC currently has the higher Sharpe Ratio (2.43 vs 2.16), 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.
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