AVSF vs. AVEM

Last updated Jun 24, 2026

AVSF (Avantis Short-Term Fixed Income ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - AVSF is a Short-Term Bond fund actively managed by Avantis, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. Both are actively managed. Over the past 5 years, AVSF returned 1.89%/yr vs 9.50%/yr for AVEM. At a 0.20 correlation, their price movements are largely independent. AVSF charges 0.15%/yr vs 0.33%/yr for AVEM.

Performance

AVSF vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Short-Term Fixed Income ETF (AVSF) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSF achieves a 0.49% return, which is significantly lower than AVEM's 23.75% return.

AVSF

• 1D: 0.09%
• 1M: 0.24%
• YTD: 0.49%
• 6M: 0.74%
• 1Y: 3.59%
• 3Y*: 4.84%
• 5Y*: 1.89%
• 10Y*: —

AVEM

• 1D: -5.47%
• 1M: 2.36%
• YTD: 23.75%
• 6M: 24.18%
• 1Y: 46.12%
• 3Y*: 24.70%
• 5Y*: 9.50%
• 10Y*: —

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

AVSF vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AVSF Avantis Short-Term Fixed Income ETF	0.49%	6.57%	3.81%	5.25%	-5.52%	-1.17%	0.46%
AVEM Avantis Emerging Markets Equity ETF	23.75%	34.48%	7.49%	15.30%	-18.15%	5.16%	16.41%

Correlation

The correlation between AVSF and AVEM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020	0.20

The correlation between AVSF and AVEM shifts across timeframes, from 0.20 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AVSF vs. AVEM — Risk / Return Rank

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

AVSF

AVSF Risk / Return Rank: 60
AVSF Sharpe Ratio Rank: 61
AVSF Sortino Ratio Rank: 65
AVSF Omega Ratio Rank: 61
AVSF Calmar Ratio Rank: 55
AVSF Martin Ratio Rank: 56

AVEM

AVEM Risk / Return Rank: 68
AVEM Sharpe Ratio Rank: 66
AVEM Sortino Ratio Rank: 58
AVEM Omega Ratio Rank: 70
AVEM Calmar Ratio Rank: 72
AVEM Martin Ratio Rank: 73

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.

AVSF vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Short-Term Fixed Income ETF (AVSF) and Avantis Emerging Markets Equity ETF (AVEM). 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.

	AVSF	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.09	-0.20
Sortino ratio: Return per unit of downside risk	2.81	2.66	+0.15
Omega ratio: Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	2.54	3.53	-0.98
Martin ratio: Return relative to average drawdown	9.23	13.36	-4.13

AVSF vs. AVEM - Sharpe Ratio Comparison

The current AVSF Sharpe Ratio is 1.88, which is comparable to the AVEM Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of AVSF and AVEM, 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

AVSF vs. AVEM - Drawdown Comparison

The maximum AVSF drawdown since its inception was -8.85%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for AVSF and AVEM.

Drawdown Indicators

	AVSF	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-8.85%	-36.05%	+27.20%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-13.13%	+11.71%
Max Drawdown (3Y) Largest decline over 3 years	-1.42%	-18.02%	+16.60%
Max Drawdown (5Y) Largest decline over 5 years	-8.85%	-33.88%	+25.03%
Current Drawdown Current decline from peak	-0.49%	-5.47%	+4.98%
Average Drawdown Average peak-to-trough decline	-2.19%	-10.04%	+7.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	3.46%	-3.07%

Volatility

AVSF vs. AVEM - Volatility Comparison

The current volatility for Avantis Short-Term Fixed Income ETF (AVSF) is 0.67%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 12.55%. This indicates that AVSF experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSF	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	12.55%	-11.88%
Volatility (6M) Calculated over the trailing 6-month period	1.44%	20.07%	-18.63%
Volatility (1Y) Calculated over the trailing 1-year period	1.92%	22.23%	-20.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	18.99%	-16.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	20.91%	-18.38%

AVSF vs. AVEM - Expense Ratio Comparison

AVSF has a 0.15% expense ratio, which is lower than AVEM's 0.33% expense ratio.

Dividends

AVSF vs. AVEM - Dividend Comparison

AVSF's dividend yield for the trailing twelve months is around 4.36%, more than AVEM's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEM Avantis Emerging Markets Equity ETF	2.62%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%
AVSF Avantis Short-Term Fixed Income ETF	4.36%	4.31%	4.34%	3.93%	1.78%	0.48%	0.10%	0.00%

Frequently Asked Questions

Can I hold both AVSF and AVEM in my portfolio?

AVSF and AVEM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVSF or AVEM?

AVEM has higher volatility (12.55%) compared to AVSF (0.67%). In terms of maximum drawdown, AVSF dropped -8.85% vs AVEM's -36.05%.

Which ETF is better, AVSF or AVEM?

On 5-year performance, AVEM leads with 9.50% vs 1.89% for AVSF. On fees, AVSF is cheaper at 0.15% per year. On volatility, AVSF has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSF or AVEM?

Over the 5-year period, AVEM has performed better with a 9.50% return vs 1.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSF or AVEM?

AVSF is cheaper with a 0.15% expense ratio, compared with 0.33% for AVEM.

Which ETF pays a higher dividend yield, AVSF or AVEM?

AVSF has the higher dividend yield at 4.36%, compared with 2.62% for AVEM.

What is the main difference between AVSF and AVEM?

AVSF is categorized as Short-Term Bond, while AVEM is Emerging Markets Equities. Their fees differ too: 0.15% for AVSF and 0.33% for AVEM.

Which has better risk-adjusted returns?

AVEM currently has the higher Sharpe Ratio (2.09 vs 1.88), 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.