AVSE vs. AVDV

Last updated Aug 2, 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 Equities 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 19.52%/yr vs 24.60%/yr for AVDV. Their 0.74 correlation means they have sometimes moved together and sometimes differently. 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 16.29% return, which is significantly higher than AVDV's 12.96% return.

AVSE

• 1D: 0.10%
• 1M: -3.95%
• 6M: 8.31%
• YTD: 16.29%
• 1Y: 31.64%
• 3Y*: 19.52%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.35%

AVDV

• 1D: -0.48%
• 1M: 0.21%
• 6M: 4.97%
• YTD: 12.96%
• 1Y: 34.21%
• 3Y*: 24.60%
• 5Y*: 13.72%
• 10Y*: —
• ALL TIME*: 14.84%

*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)
AVDV Avantis International Small Cap Value ETF	$74.82M	$104.24M	$85.42M
AVSE Avantis Responsible Emerging Markets Equity ETF	$1.18M	$1.16M	$1.09M

AVSE vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVSE Avantis Responsible Emerging Markets Equity ETF	16.29%	32.54%	8.29%	16.01%	-14.43%
AVDV Avantis International Small Cap Value ETF	12.96%	49.37%	8.67%	16.85%	-10.59%

Correlation

The correlation between AVSE and AVDV is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.69
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 0.68 to 0.74 - a consistent structural relationship.

AVSE vs. AVDV - Sectors Allocation Comparison

Sectors	AVSE	AVDV
Technology	44.0%	7.6%
Financial Services	22.8%	13.6%
Consumer Cyclical	9.4%	15.9%
Industrials	6.7%	22.7%
Communication Services	5.4%	2.2%
Healthcare	3.4%	2.4%
Basic Materials	2.7%	20.3%
Consumer Defensive	2.3%	3.7%
Real Estate	2.2%	1.2%
Utilities	1.1%	1.5%
Energy	0.1%	9.1%

Return for Risk

AVSE vs. AVDV — Risk / Return Rank

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

AVSE

AVSE Risk / Return Rank: 55
AVSE Sharpe Ratio Rank: 54
AVSE Sortino Ratio Rank: 50
AVSE Omega Ratio Rank: 57
AVSE Calmar Ratio Rank: 59
AVSE Martin Ratio Rank: 56

AVDV

AVDV Risk / Return Rank: 82
AVDV Sharpe Ratio Rank: 87
AVDV Sortino Ratio Rank: 85
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 76
AVDV Martin Ratio Rank: 77

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.

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	1.28	2.07	-0.80
Sortino ratio: Return per unit of downside risk	1.79	2.81	-1.03
Omega ratio: Gain probability vs. loss probability	1.25	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	2.07	2.64	-0.58
Martin ratio: Return relative to average drawdown	6.54	9.60	-3.06

AVSE vs. AVDV - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 1.28, which is lower than the AVDV Sharpe Ratio of 2.07. 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	-14.82%	-13.19%	-1.63%
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	-11.25%	-3.96%	-7.29%
Average Drawdown Average peak-to-trough decline	-6.81%	-6.71%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	3.63%	+1.04%

Volatility

AVSE vs. AVDV - Volatility Comparison

Avantis Responsible Emerging Markets Equity ETF (AVSE) has a higher volatility of 9.15% compared to Avantis International Small Cap Value ETF (AVDV) at 5.49%. 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	9.15%	5.49%	+3.66%
Volatility (6M) Calculated over the trailing 6-month period	21.89%	14.73%	+7.16%
Volatility (1Y) Calculated over the trailing 1-year period	23.95%	16.82%	+7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	17.43%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	19.72%	-0.67%

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 2.16%, less than AVDV's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	2.80%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
AVSE Avantis Responsible Emerging Markets Equity ETF	2.16%	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 0.68, 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 (9.15%) compared to AVDV (5.49%). 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 24.60% vs 19.52% for AVSE. On fees, AVSE is cheaper at 0.33% per year. On volatility, AVDV has been the lower-risk option at 5.49%. 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 24.60% return vs 19.52%. 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 2.80%, compared with 2.16% for AVSE.

What is the main difference between AVSE and AVDV?

AVSE is categorized as Emerging Markets Equities, 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 (2.07 vs 1.28), 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.