AVXC vs. AVSE

Last updated Jun 4, 2026

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

Performance

AVXC vs. AVSE - 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 Responsible Emerging Markets Equity ETF (AVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVXC achieves a 34.06% return, which is significantly higher than AVSE's 26.92% return.

AVXC

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

AVSE

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

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

AVXC vs. AVSE - Yearly Performance Comparison

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

Correlation

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

AVXC vs. AVSE - Sectors Allocation Comparison

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

Return for Risk

AVXC vs. AVSE — Risk / Return Rank

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

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

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

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. AVSE - 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 Responsible Emerging Markets Equity ETF (AVSE). 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.

	AVXC	AVSE	Difference
Sharpe ratio: Return per unit of total volatility	3.12	2.69	+0.44
Sortino ratio: Return per unit of downside risk	4.00	3.53	+0.47
Omega ratio: Gain probability vs. loss probability	1.56	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	4.47	3.70	+0.76
Martin ratio: Return relative to average drawdown	18.06	14.74	+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.

AVXC vs. AVSE - Sharpe Ratio Comparison

The current AVXC Sharpe Ratio is 3.12, which is comparable to the AVSE Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of AVXC and AVSE, 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

	AVXC	AVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	2.69	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.86	+0.72

Drawdowns

AVXC vs. AVSE - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

AVXC vs. AVSE - Volatility Comparison

Avantis Emerging Markets ex-China Equity ETF (AVXC) and Avantis Responsible Emerging Markets Equity ETF (AVSE) have volatilities of 9.00% and 8.65%, 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	AVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.00%	8.65%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	16.79%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	19.53%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	18.03%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	18.03%	+0.44%

AVXC vs. AVSE - Expense Ratio Comparison

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

Dividends

AVXC vs. AVSE - Dividend Comparison

AVXC's dividend yield for the trailing twelve months is around 1.49%, less than AVSE's 2.18% 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 AVXC and AVSE in my portfolio?

With a correlation of 0.97, AVXC and AVSE 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 AVSE?

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

Which ETF is better, AVXC or AVSE?

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, AVXC or AVSE?

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, AVXC or AVSE?

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

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

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

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.