DFAX vs. AVNM

Last updated Jun 23, 2026

DFAX (Dimensional World ex US Core Equity 2 ETF) and AVNM (Avantis All International Markets Equity ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, DFAX returned 36.37% vs 37.43% for AVNM. With a 0.99 correlation, they move nearly in lockstep. DFAX charges 0.28%/yr vs 0.31%/yr for AVNM.

Performance

DFAX vs. AVNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional World ex US Core Equity 2 ETF (DFAX) and Avantis All International Markets Equity ETF (AVNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFAX having a 16.39% return and AVNM slightly lower at 16.11%.

DFAX

• 1D: 0.24%
• 1M: 2.45%
• YTD: 16.39%
• 6M: 16.89%
• 1Y: 36.37%
• 3Y*: 21.52%
• 5Y*: —
• 10Y*: —

AVNM

• 1D: 0.34%
• 1M: 2.68%
• YTD: 16.11%
• 6M: 16.64%
• 1Y: 37.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFAX vs. AVNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFAX Dimensional World ex US Core Equity 2 ETF	16.39%	35.42%	4.78%	7.39%
AVNM Avantis All International Markets Equity ETF	16.11%	38.30%	5.52%	8.60%

Correlation

The correlation between DFAX and AVNM is 0.99 - 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	0.99
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.99

The correlation between DFAX and AVNM has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

DFAX vs. AVNM - Sectors Allocation Comparison

Sectors	DFAX	AVNM
Technology	19.1%	15.0%
Financial Services	17.7%	22.5%
Industrials	17.4%	17.1%
Basic Materials	10.6%	11.4%
Consumer Cyclical	9.5%	9.9%
Energy	6.1%	7.7%
Healthcare	5.8%	4.2%
Consumer Defensive	4.8%	3.7%
Communication Services	4.3%	4.4%
Utilities	2.9%	2.6%
Real Estate	1.9%	1.5%

Return for Risk

DFAX vs. AVNM — Risk / Return Rank

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

DFAX

DFAX Risk / Return Rank: 72
DFAX Sharpe Ratio Rank: 76
DFAX Sortino Ratio Rank: 71
DFAX Omega Ratio Rank: 76
DFAX Calmar Ratio Rank: 68
DFAX Martin Ratio Rank: 71

AVNM

AVNM Risk / Return Rank: 73
AVNM Sharpe Ratio Rank: 78
AVNM Sortino Ratio Rank: 73
AVNM Omega Ratio Rank: 78
AVNM Calmar Ratio Rank: 67
AVNM Martin Ratio Rank: 69

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.

DFAX vs. AVNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional World ex US Core Equity 2 ETF (DFAX) and Avantis All International Markets Equity ETF (AVNM). 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.

	DFAX	AVNM	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.40	-0.07
Sortino ratio: Return per unit of downside risk	3.08	3.16	-0.08
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.29	3.24	+0.05
Martin ratio: Return relative to average drawdown	12.79	12.48	+0.31

DFAX vs. AVNM - Sharpe Ratio Comparison

The current DFAX Sharpe Ratio is 2.33, which is comparable to the AVNM Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of DFAX and AVNM, 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

DFAX vs. AVNM - Drawdown Comparison

The maximum DFAX drawdown since its inception was -28.15%, which is greater than AVNM's maximum drawdown of -14.03%. Use the drawdown chart below to compare losses from any high point for DFAX and AVNM.

Drawdown Indicators

	DFAX	AVNM	Difference
Max Drawdown Largest peak-to-trough decline	-28.15%	-14.03%	-14.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.11%	-11.59%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	—	—
Current Drawdown Current decline from peak	-0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-6.62%	-2.53%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	3.01%	-0.16%

Volatility

DFAX vs. AVNM - Volatility Comparison

Dimensional World ex US Core Equity 2 ETF (DFAX) and Avantis All International Markets Equity ETF (AVNM) have volatilities of 6.29% and 6.32%, 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

	DFAX	AVNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	6.32%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	13.71%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	15.72%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	15.09%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	15.09%	+1.02%

DFAX vs. AVNM - Expense Ratio Comparison

DFAX has a 0.28% expense ratio, which is lower than AVNM's 0.31% expense ratio.

Dividends

DFAX vs. AVNM - Dividend Comparison

DFAX's dividend yield for the trailing twelve months is around 2.20%, less than AVNM's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021
AVNM Avantis All International Markets Equity ETF	3.51%	2.76%	3.51%	1.69%	0.00%	0.00%
DFAX Dimensional World ex US Core Equity 2 ETF	2.20%	2.58%	2.98%	3.01%	3.30%	1.40%

Frequently Asked Questions

Can I hold both DFAX and AVNM in my portfolio?

With a correlation of 0.99, DFAX and AVNM 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, DFAX or AVNM?

AVNM has higher volatility (6.32%) compared to DFAX (6.29%). In terms of maximum drawdown, DFAX dropped -28.15% vs AVNM's -14.03%.

Which ETF is better, DFAX or AVNM?

On 1-year performance, AVNM leads with 37.43% vs 36.37% for DFAX. On fees, DFAX is cheaper at 0.28% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFAX or AVNM?

Over the 1-year period, AVNM has performed better with a 37.43% return vs 36.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFAX or AVNM?

DFAX is cheaper with a 0.28% expense ratio, compared with 0.31% for AVNM.

Which ETF pays a higher dividend yield, DFAX or AVNM?

AVNM has the higher dividend yield at 3.51%, compared with 2.20% for DFAX.

What is the main difference between DFAX and AVNM?

They also come from different issuers: Dimensional and Avantis. Their fees differ too: 0.28% for DFAX and 0.31% for AVNM.

Which has better risk-adjusted returns?

AVNM currently has the higher Sharpe Ratio (2.40 vs 2.33), 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.