AVSE vs. AVXC

Last updated Jun 4, 2026

AVSE (Avantis Responsible Emerging Markets Equity ETF) and AVXC (Avantis Emerging Markets ex-China Equity ETF) are both Emerging Markets Diversified funds - AVSE tracks the MSCI Emerging Markets Index while AVXC tracks the MSCI Emerging Markets IMI. Both are passively managed. Over the past year, AVSE returned 52.22% vs 62.37% for AVXC. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.33% expense ratio.

Performance

AVSE vs. AVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Responsible Emerging Markets Equity ETF (AVSE) and Avantis Emerging Markets ex-China Equity ETF (AVXC). 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 lower than AVXC's 34.06% return.

AVSE

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

AVXC

• 1D: -1.44%
• 1M: 10.62%
• YTD: 34.06%
• 6M: 38.17%
• 1Y: 62.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVSE vs. AVXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVSE Avantis Responsible Emerging Markets Equity ETF	26.92%	32.54%	5.42%
AVXC Avantis Emerging Markets ex-China Equity ETF	34.06%	31.45%	-0.80%

Correlation

The correlation between AVSE and AVXC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024	0.92

The correlation between AVSE and AVXC has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

AVSE vs. AVXC - Sectors Allocation Comparison

Sectors	AVSE	AVXC
Technology	34.8%	38.2%
Financial Services	24.2%	20.2%
Consumer Cyclical	12.3%	5.5%
Industrials	8.2%	10.0%
Communication Services	6.5%	3.7%
Healthcare	3.9%	2.3%
Basic Materials	3.3%	8.1%
Consumer Defensive	2.7%	2.9%
Real Estate	2.6%	1.5%
Utilities	1.3%	2.8%
Energy	0.1%	4.9%

Return for Risk

AVSE vs. AVXC — 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

AVXC

AVXC Risk / Return Rank: 87
AVXC Sharpe Ratio Rank: 90
AVXC Sortino Ratio Rank: 87
AVXC Omega Ratio Rank: 88
AVXC Calmar Ratio Rank: 83
AVXC Martin Ratio Rank: 85

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. AVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible Emerging Markets Equity ETF (AVSE) and Avantis Emerging Markets ex-China Equity ETF (AVXC). 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	AVXC	Difference
Sharpe ratio: Return per unit of total volatility	2.69	3.12	-0.44
Sortino ratio: Return per unit of downside risk	3.53	4.00	-0.47
Omega ratio: Gain probability vs. loss probability	1.48	1.56	-0.07
Calmar ratio: Return relative to maximum drawdown	3.70	4.47	-0.76
Martin ratio: Return relative to average drawdown	14.74	18.06	-3.32
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. AVXC - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 2.69, which is comparable to the AVXC Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of AVSE and AVXC, 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	AVXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	3.12	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.58	-0.72

Drawdowns

AVSE vs. AVXC - Drawdown Comparison

The maximum AVSE drawdown since its inception was -26.28%, which is greater than AVXC's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for AVSE and AVXC.

Drawdown Indicators

	AVSE	AVXC	Difference
Max Drawdown Largest peak-to-trough decline	-26.28%	-20.44%	-5.84%
Max Drawdown (1Y) Largest decline over 1 year	-14.17%	-14.04%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	—	—
Current Drawdown Current decline from peak	-1.45%	-1.44%	-0.01%
Average Drawdown Average peak-to-trough decline	-6.82%	-3.79%	-3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.46%	+0.09%

Volatility

AVSE vs. AVXC - Volatility Comparison

Avantis Responsible Emerging Markets Equity ETF (AVSE) and Avantis Emerging Markets ex-China Equity ETF (AVXC) have volatilities of 8.65% and 9.00%, 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.

Volatility by Period

	AVSE	AVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	9.00%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	17.67%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	20.07%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.03%	18.47%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	18.47%	-0.44%

AVSE vs. AVXC - Expense Ratio Comparison

Both AVSE and AVXC have an expense ratio of 0.33%.

Dividends

AVSE vs. AVXC - Dividend Comparison

AVSE's dividend yield for the trailing twelve months is around 2.18%, more than AVXC's 1.49% yield.

Position	TTM	2025	2024	2023	2022
AVSE Avantis Responsible Emerging Markets Equity ETF	2.18%	2.68%	3.03%	3.20%	1.27%
AVXC Avantis Emerging Markets ex-China Equity ETF	1.49%	1.97%	1.34%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVSE and AVXC in my portfolio?

With a correlation of 0.97, AVSE and AVXC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVSE or AVXC?

AVXC has higher volatility (9.00%) compared to AVSE (8.65%). In terms of maximum drawdown, AVSE dropped -26.28% vs AVXC's -20.44%.

Which ETF is better, AVSE or AVXC?

On 1-year performance, AVXC leads with 62.37% vs 52.22% for AVSE. Both ETFs have the same 0.33% expense ratio. On volatility, AVSE has been the lower-risk option at 8.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSE or AVXC?

Over the 1-year period, AVXC has performed better with a 62.37% return vs 52.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSE or AVXC?

AVSE and AVXC have the same expense ratio: 0.33% per year.

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

AVSE has the higher dividend yield at 2.18%, compared with 1.49% for AVXC.

What is the main difference between AVSE and AVXC?

AVSE tracks MSCI Emerging Markets Index, while AVXC tracks MSCI Emerging Markets IMI. They also come from different issuers: Avantis and Avantis Investors.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (3.12 vs 2.69), 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.