FESCX vs. AVUV

Last updated Jun 23, 2026

FESCX (First Eagle Small Cap Opportunity Fund) and AVUV (Avantis US Small Cap Value ETF) are both Small Cap Value Equities funds. Over the past 3 years, FESCX returned 18.60%/yr vs 20.03%/yr for AVUV. Their correlation of 0.94 suggests significant overlap in exposure. FESCX charges 1.00%/yr vs 0.25%/yr for AVUV.

Performance

FESCX vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Small Cap Opportunity Fund (FESCX) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FESCX achieves a 30.40% return, which is significantly higher than AVUV's 20.76% return.

FESCX

• 1D: 2.16%
• 1M: 6.62%
• YTD: 30.40%
• 6M: 27.44%
• 1Y: 54.35%
• 3Y*: 18.60%
• 5Y*: —
• 10Y*: —

AVUV

• 1D: 0.31%
• 1M: 2.33%
• YTD: 20.76%
• 6M: 18.15%
• 1Y: 39.60%
• 3Y*: 20.03%
• 5Y*: 11.94%
• 10Y*: —

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

FESCX vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FESCX First Eagle Small Cap Opportunity Fund	30.40%	13.33%	6.47%	16.75%	-14.05%	1.23%
AVUV Avantis US Small Cap Value ETF	20.76%	7.44%	9.28%	22.82%	-4.91%	8.42%

Correlation

The correlation between FESCX and AVUV is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.94

The correlation between FESCX and AVUV has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

FESCX vs. AVUV — Risk / Return Rank

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

FESCX

FESCX Risk / Return Rank: 88
FESCX Sharpe Ratio Rank: 90
FESCX Sortino Ratio Rank: 85
FESCX Omega Ratio Rank: 77
FESCX Calmar Ratio Rank: 95
FESCX Martin Ratio Rank: 94

AVUV

AVUV Risk / Return Rank: 76
AVUV Sharpe Ratio Rank: 73
AVUV Sortino Ratio Rank: 75
AVUV Omega Ratio Rank: 68
AVUV Calmar Ratio Rank: 88
AVUV Martin Ratio Rank: 79

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.

FESCX vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Small Cap Opportunity Fund (FESCX) and Avantis US Small Cap Value ETF (AVUV). 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.

	FESCX	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.26	+0.49
Sortino ratio: Return per unit of downside risk	3.74	3.21	+0.53
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	5.29	5.00	+0.29
Martin ratio: Return relative to average drawdown	19.08	14.84	+4.24

FESCX vs. AVUV - Sharpe Ratio Comparison

The current FESCX Sharpe Ratio is 2.74, which is comparable to the AVUV Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FESCX and AVUV, 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

FESCX vs. AVUV - Drawdown Comparison

The maximum FESCX drawdown since its inception was -28.53%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for FESCX and AVUV.

Drawdown Indicators

	FESCX	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-28.53%	-49.42%	+20.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-7.95%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-28.53%	-28.79%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.79%	—
Current Drawdown Current decline from peak	0.00%	-1.61%	+1.61%
Average Drawdown Average peak-to-trough decline	-8.76%	-7.90%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.68%	+0.16%

Volatility

FESCX vs. AVUV - Volatility Comparison

First Eagle Small Cap Opportunity Fund (FESCX) has a higher volatility of 6.59% compared to Avantis US Small Cap Value ETF (AVUV) at 4.28%. This indicates that FESCX's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FESCX	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	4.28%	+2.31%
Volatility (6M) Calculated over the trailing 6-month period	14.21%	11.39%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	19.79%	17.67%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.68%	22.65%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	28.23%	-5.55%

FESCX vs. AVUV - Expense Ratio Comparison

FESCX has a 1.00% expense ratio, which is higher than AVUV's 0.25% expense ratio.

Dividends

FESCX vs. AVUV - Dividend Comparison

FESCX's dividend yield for the trailing twelve months is around 0.79%, less than AVUV's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVUV Avantis US Small Cap Value ETF	1.63%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%
FESCX First Eagle Small Cap Opportunity Fund	0.79%	1.03%	1.56%	0.60%	0.11%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FESCX and AVUV in my portfolio?

With a correlation of 0.90, FESCX and AVUV 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, FESCX or AVUV?

FESCX has higher volatility (6.59%) compared to AVUV (4.28%). In terms of maximum drawdown, FESCX dropped -28.53% vs AVUV's -49.42%.

Which has better risk-adjusted returns?

FESCX currently has the higher Sharpe Ratio (2.74 vs 2.26), 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.