AVXC vs. DFEM

Last updated Jun 4, 2026

AVXC (Avantis Emerging Markets ex-China Equity ETF) and DFEM (Dimensional Emerging Markets Core Equity 2 ETF) are both Emerging Markets Diversified funds. AVXC is passively managed, while DFEM is actively managed. Over the past year, AVXC returned 62.37% vs 50.40% for DFEM. Their correlation of 0.90 suggests significant overlap in exposure. AVXC charges 0.33%/yr vs 0.39%/yr for DFEM.

Performance

AVXC vs. DFEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets ex-China Equity ETF (AVXC) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM). 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 DFEM's 25.59% return.

AVXC

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

DFEM

• 1D: -1.28%
• 1M: 6.85%
• YTD: 25.59%
• 6M: 27.96%
• 1Y: 50.40%
• 3Y*: 23.24%
• 5Y*: —
• 10Y*: —

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

AVXC vs. DFEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVXC Avantis Emerging Markets ex-China Equity ETF	34.06%	31.45%	-0.80%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	25.59%	29.51%	4.99%

Correlation

The correlation between AVXC and DFEM is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024	0.90

The correlation between AVXC and DFEM has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

AVXC vs. DFEM - Sectors Allocation Comparison

Sectors	AVXC	DFEM
Technology	38.2%	32.9%
Financial Services	20.2%	15.4%
Industrials	10.0%	11.9%
Basic Materials	8.1%	8.4%
Consumer Cyclical	5.5%	9.8%
Energy	4.9%	4.4%
Communication Services	3.7%	5.5%
Consumer Defensive	2.9%	3.7%
Utilities	2.8%	2.2%
Healthcare	2.3%	3.8%
Real Estate	1.5%	2.0%

Return for Risk

AVXC vs. DFEM — 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

DFEM

DFEM Risk / Return Rank: 81
DFEM Sharpe Ratio Rank: 83
DFEM Sortino Ratio Rank: 78
DFEM Omega Ratio Rank: 82
DFEM Calmar Ratio Rank: 80
DFEM Martin Ratio Rank: 81

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. DFEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets ex-China Equity ETF (AVXC) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM). 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	DFEM	Difference
Sharpe ratio: Return per unit of total volatility	3.12	2.74	+0.38
Sortino ratio: Return per unit of downside risk	4.00	3.54	+0.46
Omega ratio: Gain probability vs. loss probability	1.56	1.50	+0.06
Calmar ratio: Return relative to maximum drawdown	4.47	4.18	+0.29
Martin ratio: Return relative to average drawdown	18.06	16.33	+1.73
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. DFEM - Sharpe Ratio Comparison

The current AVXC Sharpe Ratio is 3.12, which is comparable to the DFEM Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of AVXC and DFEM, 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	DFEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	2.74	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.92	+0.66

Drawdowns

AVXC vs. DFEM - Drawdown Comparison

The maximum AVXC drawdown since its inception was -20.44%, roughly equal to the maximum DFEM drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for AVXC and DFEM.

Drawdown Indicators

	AVXC	DFEM	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-20.82%	+0.38%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-12.12%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.09%	—
Current Drawdown Current decline from peak	-1.44%	-1.28%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.79%	-5.03%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	3.09%	+0.37%

Volatility

AVXC vs. DFEM - Volatility Comparison

Avantis Emerging Markets ex-China Equity ETF (AVXC) has a higher volatility of 9.00% compared to Dimensional Emerging Markets Core Equity 2 ETF (DFEM) at 7.78%. This indicates that AVXC's price experiences larger fluctuations and is considered to be riskier than DFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVXC	DFEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.00%	7.78%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	16.02%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	18.45%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	17.26%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	17.26%	+1.21%

AVXC vs. DFEM - Expense Ratio Comparison

AVXC has a 0.33% expense ratio, which is lower than DFEM's 0.39% expense ratio.

Dividends

AVXC vs. DFEM - Dividend Comparison

AVXC's dividend yield for the trailing twelve months is around 1.49%, less than DFEM's 1.82% yield.

Position	TTM	2025	2024	2023	2022
AVXC Avantis Emerging Markets ex-China Equity ETF	1.49%	1.97%	1.34%	0.00%	0.00%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	1.82%	2.32%	2.50%	2.38%	1.99%

Frequently Asked Questions

Can I hold both AVXC and DFEM in my portfolio?

With a correlation of 0.95, AVXC and DFEM 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 DFEM?

AVXC has higher volatility (9.00%) compared to DFEM (7.78%). In terms of maximum drawdown, AVXC dropped -20.44% vs DFEM's -20.82%.

Which ETF is better, AVXC or DFEM?

On 1-year performance, AVXC leads with 62.37% vs 50.40% for DFEM. On fees, AVXC is cheaper at 0.33% per year. On volatility, DFEM has been the lower-risk option at 7.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVXC or DFEM?

Over the 1-year period, AVXC has performed better with a 62.37% return vs 50.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVXC or DFEM?

AVXC is cheaper with a 0.33% expense ratio, compared with 0.39% for DFEM.

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

DFEM has the higher dividend yield at 1.82%, compared with 1.49% for AVXC.

What is the main difference between AVXC and DFEM?

They also come from different issuers: Avantis Investors and Dimensional. Their fees differ too: 0.33% for AVXC and 0.39% for DFEM.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (3.12 vs 2.74), 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.