AVSE vs. AVIV

Last updated Jun 4, 2026

AVSE (Avantis Responsible Emerging Markets Equity ETF) and AVIV (Avantis International Large Cap Value ETF) are both exchange-traded funds - AVSE is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while AVIV is a Foreign Large Cap Equities fund tracking the MSCI World ex-U.S. Value Index. Both are passively managed. Over the past 3 years, AVSE returned 25.55%/yr vs 22.17%/yr for AVIV. A 0.75 correlation means they provide meaningful diversification when combined. AVSE charges 0.33%/yr vs 0.25%/yr for AVIV.

Performance

AVSE vs. AVIV - 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 Large Cap Value ETF (AVIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSE achieves a 26.92% return, which is significantly higher than AVIV's 11.50% return.

AVSE

• 1D: -1.45%
• 1M: 9.75%
• YTD: 26.92%
• 6M: 28.98%
• 1Y: 52.22%
• 3Y*: 25.55%
• 5Y*: —
• 10Y*: —

AVIV

• 1D: -0.79%
• 1M: 3.32%
• YTD: 11.50%
• 6M: 14.88%
• 1Y: 32.31%
• 3Y*: 22.17%
• 5Y*: —
• 10Y*: —

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

AVSE vs. AVIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVSE Avantis Responsible Emerging Markets Equity ETF	26.92%	32.54%	8.29%	16.01%	-13.85%
AVIV Avantis International Large Cap Value ETF	11.50%	41.80%	4.30%	18.47%	-8.73%

Correlation

The correlation between AVSE and AVIV is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 31, 2022	0.75

The correlation between AVSE and AVIV has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

AVSE vs. AVIV - Sectors Allocation Comparison

Sectors	AVSE	AVIV
Technology	34.8%	3.5%
Financial Services	24.2%	27.5%
Consumer Cyclical	12.3%	10.2%
Industrials	8.2%	17.3%
Communication Services	6.5%	4.6%
Healthcare	3.9%	4.8%
Basic Materials	3.3%	12.4%
Consumer Defensive	2.7%	3.4%
Real Estate	2.6%	1.0%
Utilities	1.3%	1.1%
Energy	0.1%	14.2%

Return for Risk

AVSE vs. AVIV — Risk / Return Rank

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

AVSE

AVSE Risk / Return Rank: 78
AVSE Sharpe Ratio Rank: 82
AVSE Sortino Ratio Rank: 78
AVSE Omega Ratio Rank: 80
AVSE Calmar Ratio Rank: 74
AVSE Martin Ratio Rank: 77

AVIV

AVIV Risk / Return Rank: 66
AVIV Sharpe Ratio Rank: 68
AVIV Sortino Ratio Rank: 68
AVIV Omega Ratio Rank: 69
AVIV Calmar Ratio Rank: 60
AVIV Martin Ratio Rank: 64

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. AVIV - 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 Large Cap Value ETF (AVIV). 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.

	AVSE	AVIV	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.31	+0.38
Sortino ratio: Return per unit of downside risk	3.53	3.16	+0.36
Omega ratio: Gain probability vs. loss probability	1.48	1.42	+0.06
Calmar ratio: Return relative to maximum drawdown	3.70	3.01	+0.69
Martin ratio: Return relative to average drawdown	14.74	11.87	+2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVSE vs. AVIV - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 2.69, which is comparable to the AVIV Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of AVSE and AVIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVSE	AVIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.31	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.82	+0.04

Drawdowns

AVSE vs. AVIV - Drawdown Comparison

The maximum AVSE drawdown since its inception was -26.28%, smaller than the maximum AVIV drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for AVSE and AVIV.

Drawdown Indicators

	AVSE	AVIV	Difference
Max Drawdown Largest peak-to-trough decline	-26.28%	-27.69%	+1.41%
Max Drawdown (1Y) Largest decline over 1 year	-14.17%	-10.78%	-3.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	-14.13%	-3.55%
Current Drawdown Current decline from peak	-1.45%	-1.39%	-0.06%
Average Drawdown Average peak-to-trough decline	-6.82%	-5.12%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.73%	+0.82%

Volatility

AVSE vs. AVIV - Volatility Comparison

Avantis Responsible Emerging Markets Equity ETF (AVSE) has a higher volatility of 8.65% compared to Avantis International Large Cap Value ETF (AVIV) at 4.33%. This indicates that AVSE's price experiences larger fluctuations and is considered to be riskier than AVIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSE	AVIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	4.33%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	11.74%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	14.09%	+5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.03%	16.88%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	16.88%	+1.15%

AVSE vs. AVIV - Expense Ratio Comparison

AVSE has a 0.33% expense ratio, which is higher than AVIV's 0.25% expense ratio.

Dividends

AVSE vs. AVIV - Dividend Comparison

AVSE's dividend yield for the trailing twelve months is around 2.18%, less than AVIV's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	2.82%	3.01%	3.46%	3.64%	2.84%	0.57%
AVSE Avantis Responsible Emerging Markets Equity ETF	2.18%	2.68%	3.03%	3.20%	1.27%	0.00%

Frequently Asked Questions

Can I hold both AVSE and AVIV in my portfolio?

AVSE and AVIV have a correlation of 0.70, 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 AVIV?

AVSE has higher volatility (8.65%) compared to AVIV (4.33%). In terms of maximum drawdown, AVSE dropped -26.28% vs AVIV's -27.69%.

Which ETF is better, AVSE or AVIV?

On 3-year performance, AVSE leads with 25.55% vs 22.17% for AVIV. On fees, AVIV is cheaper at 0.25% per year. On volatility, AVIV has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSE or AVIV?

Over the 3-year period, AVSE has performed better with a 25.55% return vs 22.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSE or AVIV?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.33% for AVSE.

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

AVIV has the higher dividend yield at 2.82%, compared with 2.18% for AVSE.

What is the main difference between AVSE and AVIV?

AVSE is categorized as Emerging Markets Diversified, while AVIV is Foreign Large Cap Equities. AVSE tracks MSCI Emerging Markets Index, while AVIV tracks MSCI World ex-U.S. Value Index. Their fees differ too: 0.33% for AVSE and 0.25% for AVIV.

Which has better risk-adjusted returns?

AVSE currently has the higher Sharpe Ratio (2.69 vs 2.31), 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.