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EEM vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEM vs. AVDV

Last updated Jun 18, 2026

EEM (iShares MSCI Emerging Markets ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net), while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. EEM is passively managed, while AVDV is actively managed. Over the past 5 years, EEM returned 7.29%/yr vs 14.77%/yr for AVDV. A 0.73 correlation means they provide meaningful diversification when combined. EEM charges 0.72%/yr vs 0.36%/yr for AVDV.

Performance

EEM vs. AVDV - Performance Comparison

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

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Returns By Period

In the year-to-date period, EEM achieves a 25.97% return, which is significantly higher than AVDV's 15.44% return.

EEM

1D
-0.12%
1M
6.07%
YTD
25.97%
6M
31.02%
1Y
49.97%
3Y*
21.67%
5Y*
7.29%
10Y*
9.97%

AVDV

1D
-0.94%
1M
0.02%
YTD
15.44%
6M
18.41%
1Y
43.14%
3Y*
26.64%
5Y*
14.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EEM vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
EEM
iShares MSCI Emerging Markets ETF		25.97%33.98%6.49%8.95%-20.56%-3.63%17.02%11.29%
AVDV
Avantis International Small Cap Value ETF		15.44%49.37%8.67%16.85%-11.47%15.80%5.01%11.78%

Correlation

The correlation between EEM and AVDV is 0.72, 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

0.72

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.73

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

EEM vs. AVDV - Sectors Allocation Comparison

Sectors
EEM
AVDV

Technology

44.3%
6.6%

Financial Services

17.7%
13.6%

Consumer Cyclical

8.3%
15.4%

Industrials

6.6%
22.8%

Communication Services

6.0%
2.4%

Basic Materials

5.9%
21.0%

Energy

3.4%
9.6%

Consumer Defensive

2.5%
3.4%

Healthcare

2.5%
2.3%

Utilities

1.8%
1.7%

Real Estate

1.0%
1.3%

Technology

EEM
44.3%
AVDV
6.6%

Financial Services

EEM
17.7%
AVDV
13.6%

Consumer Cyclical

EEM
8.3%
AVDV
15.4%

Industrials

EEM
6.6%
AVDV
22.8%

Communication Services

EEM
6.0%
AVDV
2.4%

Basic Materials

EEM
5.9%
AVDV
21.0%

Energy

EEM
3.4%
AVDV
9.6%

Consumer Defensive

EEM
2.5%
AVDV
3.4%

Healthcare

EEM
2.5%
AVDV
2.3%

Utilities

EEM
1.8%
AVDV
1.7%

Real Estate

EEM
1.0%
AVDV
1.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Emerging Markets ETF

Avantis International Small Cap Value ETF

Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. VXUSEEM vs. IS3N.DEEEM vs. EEMSEEM vs. SPEM
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

EEM vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EEM
EEM Risk / Return Rank: 7777
Overall Rank
EEM Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7171
Sortino Ratio Rank
EEM Omega Ratio Rank: 8080
Omega Ratio Rank
EEM Calmar Ratio Rank: 7878
Calmar Ratio Rank
EEM Martin Ratio Rank: 7777
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8585
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8585
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7070
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7474
Martin Ratio Rank
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.

EEM vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) 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.

EEMAVDVDifference
Sharpe ratioReturn per unit of total volatility
2.30
2.67

-0.36

Sortino ratioReturn per unit of downside risk
2.97
3.51

-0.54

Omega ratioGain probability vs. loss probability

1.43

1.48

-0.04

Calmar ratioReturn relative to maximum drawdown

3.71

3.29

+0.43

Martin ratioReturn relative to average drawdown

13.67

13.11

+0.56

EEM vs. AVDV - Sharpe Ratio Comparison

The current EEM Sharpe Ratio is 2.30, which is comparable to the AVDV Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of EEM 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.

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Drawdowns

EEM vs. AVDV - Drawdown Comparison

The maximum EEM drawdown since its inception was -66.43%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for EEM and AVDV.

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Drawdown Indicators

EEMAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-66.43%

-43.01%

-23.42%

Max Drawdown (1Y)

Largest decline over 1 year

-13.52%

-13.19%

-0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-17.29%

-14.17%

-3.12%

Max Drawdown (5Y)

Largest decline over 5 years

-37.49%

-28.08%

-9.41%

Max Drawdown (10Y)

Largest decline over 10 years

-39.82%

—

—

Current Drawdown

Current decline from peak

-2.66%

-1.85%

-0.81%

Average Drawdown

Average peak-to-trough decline

-16.00%

-6.75%

-9.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.67%

3.30%

+0.37%

Volatility

EEM vs. AVDV - Volatility Comparison

iShares MSCI Emerging Markets ETF (EEM) has a higher volatility of 10.76% compared to Avantis International Small Cap Value ETF (AVDV) at 6.07%. This indicates that EEM'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.

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Volatility by Period

EEMAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.76%

6.07%

+4.69%

Volatility (6M)

Calculated over the trailing 6-month period

19.65%

13.95%

+5.70%

Volatility (1Y)

Calculated over the trailing 1-year period

21.84%

16.28%

+5.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.33%

17.41%

+1.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.67%

19.76%

+0.91%

EEM vs. AVDV - Expense Ratio Comparison

EEM has a 0.72% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

EEM vs. AVDV - Dividend Comparison

EEM's dividend yield for the trailing twelve months is around 1.62%, less than AVDV's 4.09% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.09%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
EEM
iShares MSCI Emerging Markets ETF		1.62%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%

Frequently Asked Questions

EEM and AVDV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (10.76%) compared to AVDV (6.07%). In terms of maximum drawdown, EEM dropped -66.43% vs AVDV's -43.01%.

On 5-year performance, AVDV leads with 14.77% vs 7.29% for EEM. On fees, AVDV is cheaper at 0.36% per year. On volatility, AVDV has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, AVDV has performed better with a 14.77% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AVDV is cheaper with a 0.36% expense ratio, compared with 0.72% for EEM.

AVDV has the higher dividend yield at 4.09%, compared with 1.62% for EEM.

EEM is categorized as Emerging Markets Diversified, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.72% for EEM and 0.36% for AVDV.

AVDV currently has the higher Sharpe Ratio (2.67 vs 2.30), 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.

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