AVXC vs. AVEM

Last updated Jun 23, 2026

AVXC (Avantis Emerging Markets ex-China Equity ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - AVXC is a Emerging Markets Diversified fund actively managed by Avantis, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. Both are actively managed. Over the past year, AVXC returned 66.36% vs 55.80% for AVEM. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.33% expense ratio.

Performance

AVXC vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets ex-China Equity ETF (AVXC) 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, AVXC achieves a 39.43% return, which is significantly higher than AVEM's 30.91% return.

AVXC

• 1D: 0.29%
• 1M: 10.05%
• YTD: 39.43%
• 6M: 41.85%
• 1Y: 66.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVEM

• 1D: 0.47%
• 1M: 8.28%
• YTD: 30.91%
• 6M: 32.11%
• 1Y: 55.80%
• 3Y*: 27.06%
• 5Y*: 10.91%
• 10Y*: —

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

AVXC vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVXC Avantis Emerging Markets ex-China Equity ETF	39.43%	31.45%	-1.26%
AVEM Avantis Emerging Markets Equity ETF	30.91%	34.48%	4.49%

Correlation

The correlation between AVXC and AVEM is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.92

The correlation between AVXC and AVEM has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

AVXC vs. AVEM - Sectors Allocation Comparison

Sectors	AVXC	AVEM
Technology	34.2%	39.5%
Financial Services	18.9%	18.6%
Industrials	8.7%	8.1%
Basic Materials	7.3%	7.3%
Consumer Cyclical	5.4%	8.2%
Energy	3.7%	4.3%
Communication Services	3.5%	4.9%
Consumer Defensive	2.7%	2.8%
Utilities	2.4%	2.3%
Healthcare	2.1%	2.5%
Real Estate	1.3%	1.5%

Return for Risk

AVXC vs. AVEM — Risk / Return Rank

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

AVXC

AVXC Risk / Return Rank: 89
AVXC Sharpe Ratio Rank: 91
AVXC Sortino Ratio Rank: 87
AVXC Omega Ratio Rank: 90
AVXC Calmar Ratio Rank: 87
AVXC Martin Ratio Rank: 88

AVEM

AVEM Risk / Return Rank: 82
AVEM Sharpe Ratio Rank: 84
AVEM Sortino Ratio Rank: 78
AVEM Omega Ratio Rank: 84
AVEM Calmar Ratio Rank: 83
AVEM Martin Ratio Rank: 83

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.

AVXC vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets ex-China Equity ETF (AVXC) 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.

	AVXC	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	3.00	2.61	+0.39
Sortino ratio: Return per unit of downside risk	3.73	3.30	+0.43
Omega ratio: Gain probability vs. loss probability	1.55	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	4.75	4.27	+0.48
Martin ratio: Return relative to average drawdown	18.46	16.25	+2.21

AVXC vs. AVEM - Sharpe Ratio Comparison

The current AVXC Sharpe Ratio is 3.00, which is comparable to the AVEM Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of AVXC 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

AVXC vs. AVEM - Drawdown Comparison

The maximum AVXC drawdown since its inception was -20.44%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for AVXC and AVEM.

Drawdown Indicators

	AVXC	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-36.05%	+15.61%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-13.13%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.88%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.78%	-10.05%	+6.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.44%	+0.17%

Volatility

AVXC vs. AVEM - Volatility Comparison

Avantis Emerging Markets ex-China Equity ETF (AVXC) and Avantis Emerging Markets Equity ETF (AVEM) have volatilities of 11.54% and 11.02%, 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

	AVXC	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.54%	11.02%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	20.26%	19.22%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	22.31%	21.54%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	18.82%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	20.81%	-1.34%

AVXC vs. AVEM - Expense Ratio Comparison

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

Dividends

AVXC vs. AVEM - Dividend Comparison

AVXC's dividend yield for the trailing twelve months is around 1.94%, less than AVEM's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEM Avantis Emerging Markets Equity ETF	2.47%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%
AVXC Avantis Emerging Markets ex-China Equity ETF	1.94%	1.97%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVXC and AVEM in my portfolio?

With a correlation of 0.96, AVXC and AVEM 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, AVXC or AVEM?

AVXC has higher volatility (11.54%) compared to AVEM (11.02%). In terms of maximum drawdown, AVXC dropped -20.44% vs AVEM's -36.05%.

Which ETF is better, AVXC or AVEM?

On 1-year performance, AVXC leads with 66.36% vs 55.80% for AVEM. Both ETFs have the same 0.33% expense ratio. On volatility, AVEM has been the lower-risk option at 11.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVXC or AVEM?

Over the 1-year period, AVXC has performed better with a 66.36% return vs 55.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVXC or AVEM?

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

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

AVEM has the higher dividend yield at 2.47%, compared with 1.94% for AVXC.

What is the main difference between AVXC and AVEM?

AVXC is categorized as Emerging Markets Diversified, while AVEM is Emerging Markets Equities.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (3.00 vs 2.61), 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.