DFEM vs. AVDV

Last updated Aug 2, 2026

DFEM (Dimensional Emerging Markets Core Equity 2 ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - DFEM is a Emerging Markets Equities fund actively managed by Dimensional, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, DFEM returned 17.44%/yr vs 24.60%/yr for AVDV. Their 0.74 correlation means they have sometimes moved together and sometimes differently. DFEM charges 0.39%/yr vs 0.36%/yr for AVDV.

Performance

DFEM vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEM achieves a 14.75% return, which is significantly higher than AVDV's 12.96% return.

DFEM

• 1D: 0.43%
• 1M: -4.27%
• 6M: 6.72%
• YTD: 14.75%
• 1Y: 29.34%
• 3Y*: 17.44%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.40%

AVDV

• 1D: -0.48%
• 1M: 0.21%
• 6M: 4.97%
• YTD: 12.96%
• 1Y: 34.21%
• 3Y*: 24.60%
• 5Y*: 13.72%
• 10Y*: —
• ALL TIME*: 14.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVDV Avantis International Small Cap Value ETF	$74.82M	$104.24M	$85.42M
DFEM Dimensional Emerging Markets Core Equity 2 ETF	$43.02M	$39.58M	$39.86M

DFEM vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFEM Dimensional Emerging Markets Core Equity 2 ETF	14.75%	29.51%	7.53%	13.91%	-9.60%
AVDV Avantis International Small Cap Value ETF	12.96%	49.37%	8.67%	16.85%	-2.41%

Correlation

The correlation between DFEM and AVDV is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022	0.74

The correlation between DFEM and AVDV has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

DFEM vs. AVDV - Sectors Allocation Comparison

Sectors	DFEM	AVDV
Technology	40.4%	7.6%
Financial Services	14.8%	13.6%
Industrials	10.6%	22.7%
Consumer Cyclical	7.9%	15.9%
Basic Materials	7.3%	20.3%
Communication Services	5.0%	2.2%
Healthcare	3.6%	2.4%
Energy	3.4%	9.1%
Consumer Defensive	3.3%	3.7%
Utilities	1.9%	1.5%
Real Estate	1.7%	1.2%

Return for Risk

DFEM vs. AVDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFEM

DFEM Risk / Return Rank: 55
DFEM Sharpe Ratio Rank: 53
DFEM Sortino Ratio Rank: 50
DFEM Omega Ratio Rank: 57
DFEM Calmar Ratio Rank: 59
DFEM Martin Ratio Rank: 58

AVDV

AVDV Risk / Return Rank: 82
AVDV Sharpe Ratio Rank: 87
AVDV Sortino Ratio Rank: 85
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 76
AVDV Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFEM vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Core Equity 2 ETF (DFEM) and Avantis International Small Cap Value ETF (AVDV). 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.

	DFEM	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.07	-0.79
Sortino ratio: Return per unit of downside risk	1.76	2.81	-1.05
Omega ratio: Gain probability vs. loss probability	1.25	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	2.08	2.64	-0.57
Martin ratio: Return relative to average drawdown	6.85	9.60	-2.75

DFEM vs. AVDV - Sharpe Ratio Comparison

The current DFEM Sharpe Ratio is 1.28, which is lower than the AVDV Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of DFEM and AVDV, 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

DFEM vs. AVDV - Drawdown Comparison

The maximum DFEM drawdown since its inception was -20.82%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for DFEM and AVDV.

Drawdown Indicators

	DFEM	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-43.01%	+22.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-13.19%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	-14.17%	-3.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.08%	—
Current Drawdown Current decline from peak	-10.46%	-3.96%	-6.50%
Average Drawdown Average peak-to-trough decline	-5.08%	-6.71%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	3.63%	+0.56%

Volatility

DFEM vs. AVDV - Volatility Comparison

Dimensional Emerging Markets Core Equity 2 ETF (DFEM) has a higher volatility of 8.15% compared to Avantis International Small Cap Value ETF (AVDV) at 5.49%. This indicates that DFEM's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEM	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	5.49%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	20.62%	14.73%	+5.89%
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	16.82%	+5.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	17.43%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	19.72%	-1.55%

DFEM vs. AVDV - Expense Ratio Comparison

DFEM has a 0.39% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

DFEM vs. AVDV - Dividend Comparison

DFEM's dividend yield for the trailing twelve months is around 1.97%, less than AVDV's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	2.80%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	1.97%	2.32%	2.50%	2.38%	1.99%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFEM and AVDV in my portfolio?

DFEM and AVDV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEM or AVDV?

DFEM has higher volatility (8.15%) compared to AVDV (5.49%). In terms of maximum drawdown, DFEM dropped -20.82% vs AVDV's -43.01%.

Which ETF is better, DFEM or AVDV?

On 3-year performance, AVDV leads with 24.60% vs 17.44% for DFEM. On fees, AVDV is cheaper at 0.36% per year. On volatility, AVDV has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEM or AVDV?

Over the 3-year period, AVDV has performed better with a 24.60% return vs 17.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEM or AVDV?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.39% for DFEM.

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

AVDV has the higher dividend yield at 2.80%, compared with 1.97% for DFEM.

What is the main difference between DFEM and AVDV?

DFEM is categorized as Emerging Markets Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: Dimensional and Avantis. Their fees differ too: 0.39% for DFEM and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.07 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.