FPAG vs. AVDE

Last updated Aug 2, 2026

FPAG (FPA Global Equity ETF) and AVDE (Avantis International Equity ETF) are both exchange-traded funds - FPAG is a Global Equities fund actively managed by FPA, while AVDE is a Foreign Large Cap Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, FPAG returned 19.47%/yr vs 19.17%/yr for AVDE. Their correlation of 0.81 means they have usually moved in the same direction. FPAG charges 0.49%/yr vs 0.23%/yr for AVDE.

Performance

FPAG vs. AVDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FPA Global Equity ETF (FPAG) and Avantis International Equity ETF (AVDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FPAG having a 12.47% return and AVDE slightly lower at 12.39%.

FPAG

• 1D: 0.48%
• 1M: 2.49%
• 6M: 7.32%
• YTD: 12.47%
• 1Y: 25.13%
• 3Y*: 19.47%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.42%

AVDE

• 1D: -0.46%
• 1M: 1.43%
• 6M: 6.48%
• YTD: 12.39%
• 1Y: 27.78%
• 3Y*: 19.17%
• 5Y*: 10.69%
• 10Y*: —
• ALL TIME*: 12.10%

*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)
AVDE Avantis International Equity ETF	$87.20M	$88.83M	$96.47M
FPAG FPA Global Equity ETF	$1.32M	$1.50M	$2.10M

FPAG vs. AVDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FPAG FPA Global Equity ETF	12.47%	25.17%	15.64%	29.55%	-17.87%	3.26%
AVDE Avantis International Equity ETF	12.39%	38.05%	4.88%	17.18%	-13.68%	2.14%

Correlation

The correlation between FPAG and AVDE is 0.79, 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.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.81

The correlation between FPAG and AVDE has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

FPAG vs. AVDE - Sectors Allocation Comparison

Sectors	FPAG	AVDE
Communication Services	14.9%	3.8%
Healthcare	14.1%	5.9%
Basic Materials	13.4%	10.3%
Industrials	13.3%	20.2%
Technology	13.1%	8.7%
Financial Services	10.8%	24.9%
Consumer Cyclical	9.8%	9.4%
Consumer Defensive	9.2%	4.5%
Energy	1.2%	6.9%
Utilities	0.2%	4.0%
Real Estate	0.0%	1.4%

Return for Risk

FPAG vs. AVDE — Risk / Return Rank

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

FPAG

FPAG Risk / Return Rank: 63
FPAG Sharpe Ratio Rank: 67
FPAG Sortino Ratio Rank: 68
FPAG Omega Ratio Rank: 65
FPAG Calmar Ratio Rank: 54
FPAG Martin Ratio Rank: 61

AVDE

AVDE Risk / Return Rank: 77
AVDE Sharpe Ratio Rank: 80
AVDE Sortino Ratio Rank: 79
AVDE Omega Ratio Rank: 78
AVDE Calmar Ratio Rank: 70
AVDE Martin Ratio Rank: 76

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.

FPAG vs. AVDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FPA Global Equity ETF (FPAG) and Avantis International Equity ETF (AVDE). 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.

	FPAG	AVDE	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.82	-0.28
Sortino ratio: Return per unit of downside risk	2.21	2.55	-0.33
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	1.92	2.42	-0.49
Martin ratio: Return relative to average drawdown	7.39	9.46	-2.07

FPAG vs. AVDE - Sharpe Ratio Comparison

The current FPAG Sharpe Ratio is 1.54, which is comparable to the AVDE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FPAG and AVDE, 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

FPAG vs. AVDE - Drawdown Comparison

The maximum FPAG drawdown since its inception was -28.43%, smaller than the maximum AVDE drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for FPAG and AVDE.

Drawdown Indicators

	FPAG	AVDE	Difference
Max Drawdown Largest peak-to-trough decline	-28.43%	-36.99%	+8.56%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-11.48%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-13.46%	-4.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.73%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-6.18%	-6.06%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	2.93%	+0.22%

Volatility

FPAG vs. AVDE - Volatility Comparison

The current volatility for FPA Global Equity ETF (FPAG) is 3.75%, while Avantis International Equity ETF (AVDE) has a volatility of 4.48%. This indicates that FPAG experiences smaller price fluctuations and is considered to be less risky than AVDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPAG	AVDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	4.48%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	13.30%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.20%	15.26%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.28%	16.38%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.28%	18.85%	+0.43%

FPAG vs. AVDE - Expense Ratio Comparison

FPAG has a 0.49% expense ratio, which is higher than AVDE's 0.23% expense ratio.

Dividends

FPAG vs. AVDE - Dividend Comparison

FPAG's dividend yield for the trailing twelve months is around 1.29%, less than AVDE's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDE Avantis International Equity ETF	2.42%	2.66%	3.29%	3.01%	2.79%	2.46%	1.63%	0.29%
FPAG FPA Global Equity ETF	1.29%	1.99%	1.42%	1.51%	1.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FPAG and AVDE in my portfolio?

FPAG and AVDE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPAG or AVDE?

AVDE has higher volatility (4.48%) compared to FPAG (3.75%). In terms of maximum drawdown, FPAG dropped -28.43% vs AVDE's -36.99%.

Which ETF is better, FPAG or AVDE?

On 3-year performance, FPAG leads with 19.47% vs 19.17% for AVDE. On fees, AVDE is cheaper at 0.23% per year. On volatility, FPAG has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPAG or AVDE?

Over the 3-year period, FPAG has performed better with a 19.47% return vs 19.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPAG or AVDE?

AVDE is cheaper with a 0.23% expense ratio, compared with 0.49% for FPAG.

Which ETF pays a higher dividend yield, FPAG or AVDE?

AVDE has the higher dividend yield at 2.42%, compared with 1.29% for FPAG.

What is the main difference between FPAG and AVDE?

FPAG is categorized as Global Equities, while AVDE is Foreign Large Cap Equities. They also come from different issuers: FPA and Avantis. Their fees differ too: 0.49% for FPAG and 0.23% for AVDE.

Which has better risk-adjusted returns?

AVDE currently has the higher Sharpe Ratio (1.82 vs 1.54), 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.