CFA vs. AVIE

Last updated Jul 14, 2026

CFA (VictoryShares US 500 Volatility Weighted ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. CFA is passively managed, while AVIE is actively managed. Over the past 3 years, CFA returned 12.92%/yr vs 13.54%/yr for AVIE. A 0.74 correlation means they provide meaningful diversification when combined. CFA charges 0.35%/yr vs 0.25%/yr for AVIE.

Performance

CFA vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US 500 Volatility Weighted ETF (CFA) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFA achieves a 9.92% return, which is significantly lower than AVIE's 16.94% return.

CFA

• 1D: -0.02%
• 1M: 1.67%
• 6M: 6.90%
• YTD: 9.92%
• 1Y: 13.74%
• 3Y*: 12.92%
• 5Y*: 8.29%
• 10Y*: 11.49%

AVIE

• 1D: 1.05%
• 1M: 1.67%
• 6M: 14.10%
• YTD: 16.94%
• 1Y: 25.91%
• 3Y*: 13.54%
• 5Y*: —
• 10Y*: —

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

CFA vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CFA VictoryShares US 500 Volatility Weighted ETF	9.92%	8.63%	15.34%	11.85%	8.46%
AVIE Avantis Inflation Focused Equity ETF	16.94%	11.37%	6.17%	4.19%	15.20%

Correlation

The correlation between CFA and AVIE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	0.74

The correlation between CFA and AVIE shifts across timeframes, from 0.55 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

CFA vs. AVIE - Sectors Allocation Comparison

Sectors	CFA	AVIE
Industrials	18.1%	1.3%
Financial Services	17.8%	15.0%
Technology	17.1%	0.1%
Consumer Cyclical	9.6%	0.0%
Healthcare	9.6%	26.3%
Utilities	8.5%	0.0%
Consumer Defensive	6.7%	17.1%
Energy	5.1%	30.0%
Basic Materials	3.6%	9.8%
Communication Services	3.6%	-
Real Estate	0.4%	0.1%

Return for Risk

CFA vs. AVIE — Risk / Return Rank

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

CFA

CFA Risk / Return Rank: 47
CFA Sharpe Ratio Rank: 46
CFA Sortino Ratio Rank: 47
CFA Omega Ratio Rank: 43
CFA Calmar Ratio Rank: 48
CFA Martin Ratio Rank: 53

AVIE

AVIE Risk / Return Rank: 92
AVIE Sharpe Ratio Rank: 92
AVIE Sortino Ratio Rank: 93
AVIE Omega Ratio Rank: 90
AVIE Calmar Ratio Rank: 93
AVIE Martin Ratio Rank: 90

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.

CFA vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US 500 Volatility Weighted ETF (CFA) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	CFA	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.55	-1.28
Sortino ratio: Return per unit of downside risk	1.89	3.70	-1.81
Omega ratio: Gain probability vs. loss probability	1.23	1.45	-0.22
Calmar ratio: Return relative to maximum drawdown	1.93	5.24	-3.30
Martin ratio: Return relative to average drawdown	7.17	16.43	-9.26

CFA vs. AVIE - Sharpe Ratio Comparison

The current CFA Sharpe Ratio is 1.28, which is lower than the AVIE Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of CFA and AVIE, 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

CFA vs. AVIE - Drawdown Comparison

The maximum CFA drawdown since its inception was -37.74%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for CFA and AVIE.

Drawdown Indicators

	CFA	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-37.74%	-12.39%	-25.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-4.97%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-17.28%	-12.39%	-4.89%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.74%	—	—
Current Drawdown Current decline from peak	-0.27%	-0.07%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.14%	-2.97%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.60%	+0.32%

Volatility

CFA vs. AVIE - Volatility Comparison

The current volatility for VictoryShares US 500 Volatility Weighted ETF (CFA) is 2.59%, while Avantis Inflation Focused Equity ETF (AVIE) has a volatility of 3.66%. This indicates that CFA experiences smaller price fluctuations and is considered to be less risky than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFA	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	3.66%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	7.47%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	10.81%	10.21%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.06%	12.90%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.13%	12.90%	+4.23%

CFA vs. AVIE - Expense Ratio Comparison

CFA has a 0.35% expense ratio, which is higher than AVIE's 0.25% expense ratio.

Dividends

CFA vs. AVIE - Dividend Comparison

CFA's dividend yield for the trailing twelve months is around 1.22%, less than AVIE's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVIE Avantis Inflation Focused Equity ETF	1.42%	1.75%	1.89%	3.72%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CFA VictoryShares US 500 Volatility Weighted ETF	1.22%	1.29%	1.32%	1.42%	1.59%	1.04%	1.21%	1.35%	1.50%	1.15%	1.37%	1.31%

Frequently Asked Questions

Can I hold both CFA and AVIE in my portfolio?

CFA and AVIE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFA or AVIE?

AVIE has higher volatility (3.66%) compared to CFA (2.59%). In terms of maximum drawdown, CFA dropped -37.74% vs AVIE's -12.39%.

Which ETF is better, CFA or AVIE?

On 3-year performance, AVIE leads with 13.54% vs 12.92% for CFA. On fees, AVIE is cheaper at 0.25% per year. On volatility, CFA has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CFA or AVIE?

Over the 3-year period, AVIE has performed better with a 13.54% return vs 12.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CFA or AVIE?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.35% for CFA.

Which ETF pays a higher dividend yield, CFA or AVIE?

AVIE has the higher dividend yield at 1.42%, compared with 1.22% for CFA.

What is the main difference between CFA and AVIE?

They also come from different issuers: VictoryShares and Avantis. Their fees differ too: 0.35% for CFA and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.55 vs 1.28), 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.