EWMC vs. AVSC

Last updated Jul 17, 2026

EWMC (Invesco S&P MidCap 400 GARP ETF) and AVSC (Avantis US Small Cap Equity ETF) are both Small Cap Blend Equities funds. EWMC is passively managed, while AVSC is actively managed. Over the past 3 years, EWMC returned 13.74%/yr vs 17.28%/yr for AVSC. Their correlation of 0.91 suggests significant overlap in exposure. EWMC charges 0.35%/yr vs 0.25%/yr for AVSC.

Performance

EWMC vs. AVSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 GARP ETF (EWMC) and Avantis US Small Cap Equity ETF (AVSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWMC achieves a 11.55% return, which is significantly lower than AVSC's 25.77% return.

EWMC

• 1D: 0.95%
• 1M: 3.74%
• 6M: 8.22%
• YTD: 11.55%
• 1Y: 21.05%
• 3Y*: 13.74%
• 5Y*: 9.74%
• 10Y*: 11.09%

AVSC

• 1D: 0.95%
• 1M: 4.22%
• 6M: 16.71%
• YTD: 25.77%
• 1Y: 40.31%
• 3Y*: 17.28%
• 5Y*: —
• 10Y*: —

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

EWMC vs. AVSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EWMC Invesco S&P MidCap 400 GARP ETF	11.55%	7.81%	15.67%	18.79%	-11.33%
AVSC Avantis US Small Cap Equity ETF	25.77%	9.42%	7.75%	19.68%	-12.40%

Correlation

The correlation between EWMC and AVSC is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022	0.91

The correlation between EWMC and AVSC has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

EWMC vs. AVSC — Risk / Return Rank

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

EWMC

EWMC Risk / Return Rank: 54
EWMC Sharpe Ratio Rank: 47
EWMC Sortino Ratio Rank: 49
EWMC Omega Ratio Rank: 44
EWMC Calmar Ratio Rank: 69
EWMC Martin Ratio Rank: 59

AVSC

AVSC Risk / Return Rank: 88
AVSC Sharpe Ratio Rank: 88
AVSC Sortino Ratio Rank: 88
AVSC Omega Ratio Rank: 83
AVSC Calmar Ratio Rank: 93
AVSC Martin Ratio Rank: 90

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.

EWMC vs. AVSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 GARP ETF (EWMC) and Avantis US Small Cap Equity ETF (AVSC). 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.

	EWMC	AVSC	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.29	-0.95
Sortino ratio: Return per unit of downside risk	1.99	3.29	-1.30
Omega ratio: Gain probability vs. loss probability	1.23	1.39	-0.16
Calmar ratio: Return relative to maximum drawdown	2.78	5.13	-2.36
Martin ratio: Return relative to average drawdown	8.14	16.14	-8.01

EWMC vs. AVSC - Sharpe Ratio Comparison

The current EWMC Sharpe Ratio is 1.34, which is lower than the AVSC Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of EWMC and AVSC, 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

EWMC vs. AVSC - Drawdown Comparison

The maximum EWMC drawdown since its inception was -43.12%, which is greater than AVSC's maximum drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for EWMC and AVSC.

Drawdown Indicators

	EWMC	AVSC	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-28.40%	-14.72%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-7.89%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-28.09%	-28.40%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.12%	—	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-5.67%	-7.26%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.50%	+0.09%

Volatility

EWMC vs. AVSC - Volatility Comparison

Invesco S&P MidCap 400 GARP ETF (EWMC) and Avantis US Small Cap Equity ETF (AVSC) have volatilities of 3.69% and 3.54%, 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

	EWMC	AVSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	3.54%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	11.93%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.79%	17.71%	-1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	22.17%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.17%	22.17%	0.00%

EWMC vs. AVSC - Expense Ratio Comparison

EWMC has a 0.35% expense ratio, which is higher than AVSC's 0.25% expense ratio.

Dividends

EWMC vs. AVSC - Dividend Comparison

EWMC's dividend yield for the trailing twelve months is around 0.71%, less than AVSC's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVSC Avantis US Small Cap Equity ETF	0.91%	1.16%	1.17%	1.42%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWMC Invesco S&P MidCap 400 GARP ETF	0.71%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%

Frequently Asked Questions

Can I hold both EWMC and AVSC in my portfolio?

EWMC and AVSC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWMC or AVSC?

EWMC has higher volatility (3.69%) compared to AVSC (3.54%). In terms of maximum drawdown, EWMC dropped -43.12% vs AVSC's -28.40%.

Which ETF is better, EWMC or AVSC?

On 3-year performance, AVSC leads with 17.28% vs 13.74% for EWMC. On fees, AVSC is cheaper at 0.25% per year. On volatility, AVSC has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWMC or AVSC?

Over the 3-year period, AVSC has performed better with a 17.28% return vs 13.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWMC or AVSC?

AVSC is cheaper with a 0.25% expense ratio, compared with 0.35% for EWMC.

Which ETF pays a higher dividend yield, EWMC or AVSC?

AVSC has the higher dividend yield at 0.91%, compared with 0.71% for EWMC.

What is the main difference between EWMC and AVSC?

They also come from different issuers: Invesco and Avantis Investors. Their fees differ too: 0.35% for EWMC and 0.25% for AVSC.

Which has better risk-adjusted returns?

AVSC currently has the higher Sharpe Ratio (2.29 vs 1.34), 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.