AVSD vs. AVES

Last updated Jun 25, 2026

AVSD (Avantis Responsible International Equity ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - AVSD is a Foreign Large Cap Equities fund tracking the MSCI World ex USA IMI, while AVES is a Emerging Markets Equities fund actively managed by Avantis. AVSD is passively managed, while AVES is actively managed. Over the past 3 years, AVSD returned 19.73%/yr vs 19.12%/yr for AVES. A 0.77 correlation means they provide meaningful diversification when combined. AVSD charges 0.23%/yr vs 0.36%/yr for AVES.

Performance

AVSD vs. AVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Responsible International Equity ETF (AVSD) 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, AVSD achieves a 7.69% return, which is significantly lower than AVES's 12.43% return.

AVSD

• 1D: -0.27%
• 1M: 0.15%
• YTD: 7.69%
• 6M: 7.06%
• 1Y: 21.84%
• 3Y*: 19.73%
• 5Y*: —
• 10Y*: —

AVES

• 1D: -0.25%
• 1M: -1.19%
• YTD: 12.43%
• 6M: 12.38%
• 1Y: 25.89%
• 3Y*: 19.12%
• 5Y*: —
• 10Y*: —

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

AVSD vs. AVES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVSD Avantis Responsible International Equity ETF	7.69%	37.07%	6.69%	17.49%	-8.97%
AVES Avantis Emerging Markets Value ETF	12.43%	30.49%	4.50%	16.79%	-11.97%

Correlation

The correlation between AVSD and AVES is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.77

The correlation between AVSD and AVES has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

Return for Risk

AVSD vs. AVES — Risk / Return Rank

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

AVSD

AVSD Risk / Return Rank: 43
AVSD Sharpe Ratio Rank: 44
AVSD Sortino Ratio Rank: 45
AVSD Omega Ratio Rank: 44
AVSD Calmar Ratio Rank: 39
AVSD Martin Ratio Rank: 45

AVES

AVES Risk / Return Rank: 44
AVES Sharpe Ratio Rank: 43
AVES Sortino Ratio Rank: 40
AVES Omega Ratio Rank: 46
AVES Calmar Ratio Rank: 44
AVES Martin Ratio Rank: 47

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.

AVSD vs. AVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible International Equity ETF (AVSD) 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.

	AVSD	AVES	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.38	+0.02
Sortino ratio: Return per unit of downside risk	2.04	1.89	+0.15
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	1.74	2.02	-0.28
Martin ratio: Return relative to average drawdown	6.68	7.23	-0.55

AVSD vs. AVES - Sharpe Ratio Comparison

The current AVSD Sharpe Ratio is 1.40, which is comparable to the AVES Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of AVSD 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

AVSD vs. AVES - Drawdown Comparison

The maximum AVSD drawdown since its inception was -25.56%, smaller than the maximum AVES drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for AVSD and AVES.

Drawdown Indicators

	AVSD	AVES	Difference
Max Drawdown Largest peak-to-trough decline	-25.56%	-27.40%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.63%	-12.90%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-13.30%	-18.50%	+5.20%
Current Drawdown Current decline from peak	-2.07%	-5.41%	+3.34%
Average Drawdown Average peak-to-trough decline	-4.87%	-7.67%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	3.59%	-0.31%

Volatility

AVSD vs. AVES - Volatility Comparison

The current volatility for Avantis Responsible International Equity ETF (AVSD) is 5.23%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 9.94%. This indicates that AVSD 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

	AVSD	AVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	9.94%	-4.71%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	16.79%	-3.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	19.01%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	17.35%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.70%	17.35%	-0.65%

AVSD vs. AVES - Expense Ratio Comparison

AVSD has a 0.23% expense ratio, which is lower than AVES's 0.36% expense ratio.

Dividends

AVSD vs. AVES - Dividend Comparison

AVSD's dividend yield for the trailing twelve months is around 2.37%, less than AVES's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	2.48%	3.17%	4.09%	3.96%	3.70%	0.62%
AVSD Avantis Responsible International Equity ETF	2.37%	2.54%	3.25%	2.53%	1.35%	0.00%

Frequently Asked Questions

Can I hold both AVSD and AVES in my portfolio?

AVSD and AVES have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVSD or AVES?

AVES has higher volatility (9.94%) compared to AVSD (5.23%). In terms of maximum drawdown, AVSD dropped -25.56% vs AVES's -27.40%.

Which ETF is better, AVSD or AVES?

On 3-year performance, AVSD leads with 19.73% vs 19.12% for AVES. On fees, AVSD is cheaper at 0.23% per year. On volatility, AVSD has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSD or AVES?

Over the 3-year period, AVSD has performed better with a 19.73% return vs 19.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSD or AVES?

AVSD is cheaper with a 0.23% expense ratio, compared with 0.36% for AVES.

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

AVES has the higher dividend yield at 2.48%, compared with 2.37% for AVSD.

What is the main difference between AVSD and AVES?

AVSD is categorized as Foreign Large Cap Equities, while AVES is Emerging Markets Equities. Their fees differ too: 0.23% for AVSD and 0.36% for AVES.

Which has better risk-adjusted returns?

AVSD currently has the higher Sharpe Ratio (1.40 vs 1.38), 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.