AVUV vs. ILCV

Last updated Jun 9, 2026

AVUV (Avantis US Small Cap Value ETF) and ILCV (iShares Morningstar Value ETF) are both exchange-traded funds - AVUV is a Small Cap Value Equities fund actively managed by Avantis, while ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index. AVUV is actively managed, while ILCV is passively managed. Over the past 5 years, AVUV returned 10.85%/yr vs 11.47%/yr for ILCV. Their correlation of 0.84 suggests significant overlap in exposure. AVUV charges 0.25%/yr vs 0.04%/yr for ILCV.

Performance

AVUV vs. ILCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis US Small Cap Value ETF (AVUV) and iShares Morningstar Value ETF (ILCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVUV achieves a 18.87% return, which is significantly higher than ILCV's 7.35% return.

AVUV

• 1D: 1.01%
• 1M: 0.89%
• YTD: 18.87%
• 6M: 18.74%
• 1Y: 36.82%
• 3Y*: 18.46%
• 5Y*: 10.85%
• 10Y*: —

ILCV

• 1D: -0.06%
• 1M: 1.03%
• YTD: 7.35%
• 6M: 7.96%
• 1Y: 25.66%
• 3Y*: 18.09%
• 5Y*: 11.47%
• 10Y*: 11.58%

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

AVUV vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVUV Avantis US Small Cap Value ETF	18.87%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.50%
ILCV iShares Morningstar Value ETF	7.35%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	7.42%

Correlation

The correlation between AVUV and ILCV is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.84

The correlation between AVUV and ILCV has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

AVUV vs. ILCV - Sectors Allocation Comparison

Sectors	AVUV	ILCV
Financial Services	25.8%	16.5%
Energy	18.2%	6.0%
Consumer Cyclical	18.0%	9.5%
Industrials	13.9%	8.8%
Technology	7.0%	23.8%
Basic Materials	4.9%	2.4%
Consumer Defensive	4.5%	7.6%
Healthcare	4.2%	11.5%
Communication Services	2.8%	8.0%
Real Estate	0.7%	2.0%
Utilities	0.1%	3.5%

Return for Risk

AVUV vs. ILCV — Risk / Return Rank

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

AVUV

AVUV Risk / Return Rank: 76
AVUV Sharpe Ratio Rank: 72
AVUV Sortino Ratio Rank: 75
AVUV Omega Ratio Rank: 68
AVUV Calmar Ratio Rank: 88
AVUV Martin Ratio Rank: 79

ILCV

ILCV Risk / Return Rank: 86
ILCV Sharpe Ratio Rank: 87
ILCV Sortino Ratio Rank: 88
ILCV Omega Ratio Rank: 86
ILCV Calmar Ratio Rank: 82
ILCV 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.

AVUV vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis US Small Cap Value ETF (AVUV) and iShares Morningstar Value ETF (ILCV). 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.

	AVUV	ILCV	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.61	-0.50
Sortino ratio: Return per unit of downside risk	3.02	3.67	-0.64
Omega ratio: Gain probability vs. loss probability	1.36	1.47	-0.11
Calmar ratio: Return relative to maximum drawdown	4.65	3.93	+0.72
Martin ratio: Return relative to average drawdown	13.81	16.24	-2.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVUV vs. ILCV - Sharpe Ratio Comparison

The current AVUV Sharpe Ratio is 2.11, which is comparable to the ILCV Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of AVUV and ILCV, 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

	AVUV	ILCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.61	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.81	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.46	+0.10

Drawdowns

AVUV vs. ILCV - Drawdown Comparison

The maximum AVUV drawdown since its inception was -49.42%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for AVUV and ILCV.

Drawdown Indicators

	AVUV	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-49.42%	-58.63%	+9.21%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-6.55%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-28.79%	-14.95%	-13.84%
Max Drawdown (5Y) Largest decline over 5 years	-28.79%	-18.58%	-10.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.53%	—
Current Drawdown Current decline from peak	-0.44%	-1.33%	+0.89%
Average Drawdown Average peak-to-trough decline	-7.94%	-9.32%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	1.58%	+1.09%

Volatility

AVUV vs. ILCV - Volatility Comparison

Avantis US Small Cap Value ETF (AVUV) has a higher volatility of 4.29% compared to iShares Morningstar Value ETF (ILCV) at 2.33%. This indicates that AVUV's price experiences larger fluctuations and is considered to be riskier than ILCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVUV	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	2.33%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	7.12%	+4.27%
Volatility (1Y) Calculated over the trailing 1-year period	17.57%	9.90%	+7.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.75%	14.23%	+8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.29%	16.67%	+11.62%

AVUV vs. ILCV - Expense Ratio Comparison

AVUV has a 0.25% expense ratio, which is higher than ILCV's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVUV vs. ILCV - Dividend Comparison

AVUV's dividend yield for the trailing twelve months is around 1.28%, less than ILCV's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVUV Avantis US Small Cap Value ETF	1.28%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
ILCV iShares Morningstar Value ETF	1.63%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%

Frequently Asked Questions

Can I hold both AVUV and ILCV in my portfolio?

AVUV and ILCV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVUV or ILCV?

AVUV has higher volatility (4.29%) compared to ILCV (2.33%). In terms of maximum drawdown, AVUV dropped -49.42% vs ILCV's -58.63%.

Which ETF is better, AVUV or ILCV?

On 5-year performance, ILCV leads with 11.47% vs 10.85% for AVUV. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVUV or ILCV?

Over the 5-year period, ILCV has performed better with a 11.47% return vs 10.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVUV or ILCV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.25% for AVUV.

Which ETF pays a higher dividend yield, AVUV or ILCV?

ILCV has the higher dividend yield at 1.63%, compared with 1.28% for AVUV.

What is the main difference between AVUV and ILCV?

AVUV is categorized as Small Cap Value Equities, while ILCV is Large Cap Value Equities. They also come from different issuers: Avantis and iShares. Their fees differ too: 0.25% for AVUV and 0.04% for ILCV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.61 vs 2.11), 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.