DEMGX vs. AVES

Last updated Apr 1, 2026

Compare and contrast key facts about DFA Emerging Markets Targeted Value Portfolio (DEMGX) and Avantis Emerging Markets Value ETF (AVES).

DEMGX is managed by Dimensional. It was launched on Nov 13, 2018. AVES is an actively managed fund by American Century. It was launched on Sep 28, 2021.

Performance

DEMGX vs. AVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets Targeted Value Portfolio (DEMGX) and Avantis Emerging Markets Value ETF (AVES). The values are adjusted to include any dividend payments, if applicable.

DEMGX vs. AVES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DEMGX DFA Emerging Markets Targeted Value Portfolio	1.08%	24.27%	4.62%	17.19%	-12.98%	-0.48%
AVES Avantis Emerging Markets Value ETF	2.97%	30.49%	4.50%	16.79%	-16.04%	1.32%

Returns By Period

In the year-to-date period, DEMGX achieves a 1.08% return, which is significantly lower than AVES's 2.97% return.

DEMGX

• 1D: -0.76%
• 1M: -10.13%
• YTD: 1.08%
• 6M: 2.47%
• 1Y: 25.16%
• 3Y*: 14.07%
• 5Y*: 7.04%
• 10Y*: —

AVES

• 1D: 3.01%
• 1M: -9.24%
• YTD: 2.97%
• 6M: 6.68%
• 1Y: 31.64%
• 3Y*: 16.33%
• 5Y*: —
• 10Y*: —

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

DEMGX vs. AVES - Expense Ratio Comparison

DEMGX has a 0.66% expense ratio, which is higher than AVES's 0.36% expense ratio.

DEMGX

DFA Emerging Markets Targeted Value Portfolio

AVES

Avantis Emerging Markets Value ETF

Return for Risk

DEMGX vs. AVES — Risk / Return Rank

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

DEMGX

DEMGX Risk / Return Rank: 81
DEMGX Sharpe Ratio Rank: 86
DEMGX Sortino Ratio Rank: 84
DEMGX Omega Ratio Rank: 81
DEMGX Calmar Ratio Rank: 80
DEMGX Martin Ratio Rank: 76

AVES

AVES Risk / Return Rank: 86
AVES Sharpe Ratio Rank: 87
AVES Sortino Ratio Rank: 87
AVES Omega Ratio Rank: 88
AVES Calmar Ratio Rank: 85
AVES 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.

DEMGX vs. AVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets Targeted Value Portfolio (DEMGX) and Avantis Emerging Markets Value ETF (AVES). 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.

	DEMGX	AVES	Difference
Sharpe ratio Return per unit of total volatility	1.70	1.76	-0.06
Sortino ratio Return per unit of downside risk	2.18	2.32	-0.14
Omega ratio Gain probability vs. loss probability	1.32	1.34	-0.03
Calmar ratio Return relative to maximum drawdown	1.91	2.40	-0.49
Martin ratio Return relative to average drawdown	7.34	9.31	-1.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEMGX vs. AVES - Sharpe Ratio Comparison

The current DEMGX Sharpe Ratio is 1.70, which is comparable to the AVES Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of DEMGX and AVES, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DEMGX	AVES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.76	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.46	+0.10

Correlation

The correlation between DEMGX and AVES is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DEMGX vs. AVES - Dividend Comparison

DEMGX's dividend yield for the trailing twelve months is around 4.93%, more than AVES's 3.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DEMGX DFA Emerging Markets Targeted Value Portfolio	4.93%	4.98%	4.60%	5.21%	4.28%	10.93%	2.23%	3.17%	0.08%
AVES Avantis Emerging Markets Value ETF	3.19%	3.17%	4.09%	3.96%	3.70%	0.62%	0.00%	0.00%	0.00%

Drawdowns

DEMGX vs. AVES - Drawdown Comparison

The maximum DEMGX drawdown since its inception was -42.40%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for DEMGX and AVES.

Drawdown Indicators

	DEMGX	AVES	Difference
Max Drawdown Largest peak-to-trough decline	-42.40%	-27.40%	-15.00%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-12.90%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	-26.19%	—	—
Current Drawdown Current decline from peak	-11.10%	-10.28%	-0.82%
Average Drawdown Average peak-to-trough decline	-7.70%	-7.91%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	3.33%	-0.24%

Volatility

DEMGX vs. AVES - Volatility Comparison

The current volatility for DFA Emerging Markets Targeted Value Portfolio (DEMGX) is 6.20%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 8.89%. This indicates that DEMGX experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMGX	AVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	8.89%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	12.90%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	18.09%	-3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.26%	16.73%	-3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	16.73%	-1.02%