EEMS vs. AVEEX
EEMS (iShares MSCI Emerging Markets Small-Cap ETF) and AVEEX (Avantis Emerging Markets Equity Fund) are both Emerging Markets Diversified funds. Over the past 5 years, EEMS returned 6.27%/yr vs 8.59%/yr for AVEEX. Their correlation of 0.87 suggests significant overlap in exposure. EEMS charges 0.73%/yr vs 0.33%/yr for AVEEX.
Performance
EEMS vs. AVEEX - Performance Comparison
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Returns By Period
In the year-to-date period, EEMS achieves a 11.30% return, which is significantly lower than AVEEX's 21.19% return.
EEMS
- 1D
- -0.43%
- 1M
- -4.96%
- YTD
- 11.30%
- 6M
- 12.14%
- 1Y
- 20.67%
- 3Y*
- 15.22%
- 5Y*
- 6.27%
- 10Y*
- 9.50%
AVEEX
- 1D
- 0.17%
- 1M
- -1.43%
- YTD
- 21.19%
- 6M
- 21.60%
- 1Y
- 38.65%
- 3Y*
- 23.37%
- 5Y*
- 8.59%
- 10Y*
- —
EEMS vs. AVEEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 11.30% | 19.78% | 3.13% | 23.09% | -19.12% | 18.12% | 19.47% | 6.91% |
AVEEX Avantis Emerging Markets Equity Fund | 21.19% | 32.09% | 7.68% | 15.15% | -18.15% | 5.21% | 15.72% | 7.38% |
Correlation
The correlation between EEMS and AVEEX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019 | 0.87 |
The correlation between EEMS and AVEEX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
EEMS vs. AVEEX — Risk / Return Rank
EEMS
AVEEX
EEMS vs. AVEEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) and Avantis Emerging Markets Equity Fund (AVEEX). 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.
| EEMS | AVEEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.41 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.10 | -1.19 |
| Martin ratioReturn relative to average drawdown | 6.34 | 11.75 | -5.41 |
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Drawdowns
EEMS vs. AVEEX - Drawdown Comparison
The maximum EEMS drawdown since its inception was -48.89%, which is greater than AVEEX's maximum drawdown of -36.45%. Use the drawdown chart below to compare losses from any high point for EEMS and AVEEX.
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Drawdown Indicators
| EEMS | AVEEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.89% | -36.45% | -12.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -12.64% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -17.34% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -27.07% | -33.68% | +6.61% |
Max Drawdown (10Y)Largest decline over 10 years | -48.89% | — | — |
Current DrawdownCurrent decline from peak | -5.24% | -4.79% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -10.25% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.33% | -0.06% |
Volatility
EEMS vs. AVEEX - Volatility Comparison
The current volatility for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) is 9.25%, while Avantis Emerging Markets Equity Fund (AVEEX) has a volatility of 10.39%. This indicates that EEMS experiences smaller price fluctuations and is considered to be less risky than AVEEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMS | AVEEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.25% | 10.39% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 16.44% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.96% | 18.44% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.50% | 16.38% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 19.01% | -0.89% |
EEMS vs. AVEEX - Expense Ratio Comparison
EEMS has a 0.73% expense ratio, which is higher than AVEEX's 0.33% expense ratio.
Dividends
EEMS vs. AVEEX - Dividend Comparison
EEMS's dividend yield for the trailing twelve months is around 2.87%, which matches AVEEX's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVEEX Avantis Emerging Markets Equity Fund | 2.89% | 3.50% | 2.93% | 3.51% | 3.48% | 1.92% | 1.52% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 2.87% | 3.09% | 2.60% | 2.69% | 0.89% | 3.56% | 2.14% | 2.64% | 3.06% | 2.47% | 2.51% | 2.33% |
Frequently Asked Questions
EEMS and AVEEX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVEEX has higher volatility (10.39%) compared to EEMS (9.25%). In terms of maximum drawdown, EEMS dropped -48.89% vs AVEEX's -36.45%.
AVEEX currently has the higher Sharpe Ratio (2.14 vs 1.09), 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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