AVSE vs. AVDV

Last updated Jun 23, 2026

AVSE (Avantis Responsible Emerging Markets Equity ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - AVSE is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. AVSE is passively managed, while AVDV is actively managed. Over the past 3 years, AVSE returned 26.82%/yr vs 28.44%/yr for AVDV. A 0.74 correlation means they provide meaningful diversification when combined. AVSE charges 0.33%/yr vs 0.36%/yr for AVDV.

Performance

AVSE vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Responsible Emerging Markets Equity ETF (AVSE) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSE achieves a 31.03% return, which is significantly higher than AVDV's 15.88% return.

AVSE

• 1D: 0.37%
• 1M: 9.36%
• YTD: 31.03%
• 6M: 32.34%
• 1Y: 54.39%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

AVDV

• 1D: 0.58%
• 1M: 0.45%
• YTD: 15.88%
• 6M: 16.04%
• 1Y: 44.77%
• 3Y*: 28.44%
• 5Y*: 14.52%
• 10Y*: —

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

AVSE vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVSE Avantis Responsible Emerging Markets Equity ETF	31.03%	32.54%	8.29%	16.01%	-14.43%
AVDV Avantis International Small Cap Value ETF	15.88%	49.37%	8.67%	16.85%	-10.59%

Correlation

The correlation between AVSE and AVDV is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022	0.74

The correlation between AVSE and AVDV has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

Return for Risk

AVSE vs. AVDV — Risk / Return Rank

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

AVSE

AVSE Risk / Return Rank: 80
AVSE Sharpe Ratio Rank: 83
AVSE Sortino Ratio Rank: 77
AVSE Omega Ratio Rank: 83
AVSE Calmar Ratio Rank: 77
AVSE Martin Ratio Rank: 78

AVDV

AVDV Risk / Return Rank: 80
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 85
AVDV Omega Ratio Rank: 85
AVDV Calmar Ratio Rank: 70
AVDV Martin Ratio Rank: 74

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.

AVSE vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible Emerging Markets Equity ETF (AVSE) and Avantis International Small Cap Value ETF (AVDV). 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.

	AVSE	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.77	-0.22
Sortino ratio: Return per unit of downside risk	3.28	3.62	-0.34
Omega ratio: Gain probability vs. loss probability	1.47	1.50	-0.02
Calmar ratio: Return relative to maximum drawdown	3.86	3.41	+0.45
Martin ratio: Return relative to average drawdown	14.81	13.59	+1.22

AVSE vs. AVDV - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 2.55, which is comparable to the AVDV Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of AVSE and AVDV, 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

AVSE vs. AVDV - Drawdown Comparison

The maximum AVSE drawdown since its inception was -26.28%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for AVSE and AVDV.

Drawdown Indicators

	AVSE	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-26.28%	-43.01%	+16.73%
Max Drawdown (1Y) Largest decline over 1 year	-14.17%	-13.19%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	-14.17%	-3.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.08%	—
Current Drawdown Current decline from peak	0.00%	-1.49%	+1.49%
Average Drawdown Average peak-to-trough decline	-6.78%	-6.74%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.30%	+0.38%

Volatility

AVSE vs. AVDV - Volatility Comparison

Avantis Responsible Emerging Markets Equity ETF (AVSE) has a higher volatility of 10.74% compared to Avantis International Small Cap Value ETF (AVDV) at 5.78%. This indicates that AVSE's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSE	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.74%	5.78%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	19.14%	13.93%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	16.28%	+5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.50%	17.38%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.50%	19.75%	-1.25%

AVSE vs. AVDV - Expense Ratio Comparison

AVSE has a 0.33% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

AVSE vs. AVDV - Dividend Comparison

AVSE's dividend yield for the trailing twelve months is around 2.66%, less than AVDV's 4.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	4.08%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
AVSE Avantis Responsible Emerging Markets Equity ETF	2.66%	2.68%	3.03%	3.20%	1.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVSE and AVDV in my portfolio?

AVSE and AVDV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVSE or AVDV?

AVSE has higher volatility (10.74%) compared to AVDV (5.78%). In terms of maximum drawdown, AVSE dropped -26.28% vs AVDV's -43.01%.

Which ETF is better, AVSE or AVDV?

On 3-year performance, AVDV leads with 28.44% vs 26.82% for AVSE. On fees, AVSE is cheaper at 0.33% per year. On volatility, AVDV has been the lower-risk option at 5.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSE or AVDV?

Over the 3-year period, AVDV has performed better with a 28.44% return vs 26.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSE or AVDV?

AVSE is cheaper with a 0.33% expense ratio, compared with 0.36% for AVDV.

Which ETF pays a higher dividend yield, AVSE or AVDV?

AVDV has the higher dividend yield at 4.08%, compared with 2.66% for AVSE.

What is the main difference between AVSE and AVDV?

AVSE is categorized as Emerging Markets Diversified, while AVDV is Foreign Small & Mid Cap Equities. Their fees differ too: 0.33% for AVSE and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.77 vs 2.55), 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.