HAP vs. AVDV

Last updated Jun 14, 2026

HAP (VanEck Natural Resources ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - HAP is a Energy Equities fund tracking the MarketVector Global Natural Resources Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. HAP is passively managed, while AVDV is actively managed. Over the past 5 years, HAP returned 11.22%/yr vs 13.63%/yr for AVDV. Their correlation of 0.80 suggests significant overlap in exposure. HAP charges 0.42%/yr vs 0.36%/yr for AVDV.

Performance

HAP vs. AVDV - Performance Comparison

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

Returns By Period

In the year-to-date period, HAP achieves a 18.44% return, which is significantly higher than AVDV's 14.99% return.

HAP

• 1D: 1.21%
• 1M: -4.04%
• YTD: 18.44%
• 6M: 19.25%
• 1Y: 38.39%
• 3Y*: 17.05%
• 5Y*: 11.22%
• 10Y*: 11.95%

AVDV

• 1D: 0.89%
• 1M: 0.12%
• YTD: 14.99%
• 6M: 17.18%
• 1Y: 41.91%
• 3Y*: 26.72%
• 5Y*: 13.63%
• 10Y*: —

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

HAP vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HAP VanEck Natural Resources ETF	18.44%	34.91%	-4.08%	2.46%	7.84%	25.04%	6.30%	8.10%
AVDV Avantis International Small Cap Value ETF	14.99%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between HAP and AVDV is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.80

The correlation between HAP and AVDV shifts across timeframes, from 0.66 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

HAP vs. AVDV - Sectors Allocation Comparison

Sectors	HAP	AVDV
Basic Materials	38.6%	21.0%
Energy	30.7%	9.6%
Industrials	10.1%	22.8%
Utilities	9.3%	1.7%
Consumer Defensive	6.4%	3.4%
Healthcare	2.8%	2.3%
Technology	1.4%	6.6%
Real Estate	0.4%	1.3%
Consumer Cyclical	0.2%	15.4%
Communication Services	-	2.4%
Financial Services	-	13.6%

Return for Risk

HAP vs. AVDV — Risk / Return Rank

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

HAP

HAP Risk / Return Rank: 87
HAP Sharpe Ratio Rank: 88
HAP Sortino Ratio Rank: 84
HAP Omega Ratio Rank: 86
HAP Calmar Ratio Rank: 89
HAP Martin Ratio Rank: 90

AVDV

AVDV Risk / Return Rank: 81
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 86
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 71
AVDV Martin Ratio Rank: 76

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.

HAP vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Natural Resources ETF (HAP) 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.

	HAP	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.53	+0.01
Sortino ratio: Return per unit of downside risk	3.27	3.36	-0.09
Omega ratio: Gain probability vs. loss probability	1.46	1.46	0.00
Calmar ratio: Return relative to maximum drawdown	4.74	3.12	+1.62
Martin ratio: Return relative to average drawdown	17.71	12.44	+5.27

HAP vs. AVDV - Sharpe Ratio Comparison

The current HAP Sharpe Ratio is 2.54, which is comparable to the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of HAP 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.

Drawdowns

HAP vs. AVDV - Drawdown Comparison

The maximum HAP drawdown since its inception was -50.99%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for HAP and AVDV.

Drawdown Indicators

	HAP	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	-43.01%	-7.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-13.19%	+4.88%
Max Drawdown (3Y) Largest decline over 3 years	-16.92%	-14.17%	-2.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-28.08%	+2.42%
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	—	—
Current Drawdown Current decline from peak	-4.42%	-2.24%	-2.18%
Average Drawdown Average peak-to-trough decline	-12.07%	-6.76%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	3.30%	-1.08%

Volatility

HAP vs. AVDV - Volatility Comparison

The current volatility for VanEck Natural Resources ETF (HAP) is 5.20%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that HAP experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAP	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	6.26%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	12.86%	13.88%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	16.25%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	17.41%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	19.77%	-0.02%

HAP vs. AVDV - Expense Ratio Comparison

HAP has a 0.42% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

HAP vs. AVDV - Dividend Comparison

HAP's dividend yield for the trailing twelve months is around 1.91%, less than AVDV's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.11%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%	0.00%
HAP VanEck Natural Resources ETF	1.91%	2.27%	2.65%	3.27%	3.28%	2.16%	2.45%	2.80%	2.85%	2.02%	1.99%	3.00%

Frequently Asked Questions

Can I hold both HAP and AVDV in my portfolio?

HAP and AVDV have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAP or AVDV?

AVDV has higher volatility (6.26%) compared to HAP (5.20%). In terms of maximum drawdown, HAP dropped -50.99% vs AVDV's -43.01%.

Which ETF is better, HAP or AVDV?

On 5-year performance, AVDV leads with 13.63% vs 11.22% for HAP. On fees, AVDV is cheaper at 0.36% per year. On volatility, HAP has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HAP or AVDV?

Over the 5-year period, AVDV has performed better with a 13.63% return vs 11.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HAP or AVDV?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.42% for HAP.

Which ETF pays a higher dividend yield, HAP or AVDV?

AVDV has the higher dividend yield at 4.11%, compared with 1.91% for HAP.

What is the main difference between HAP and AVDV?

HAP is categorized as Energy Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: VanEck and Avantis. Their fees differ too: 0.42% for HAP and 0.36% for AVDV.

Which has better risk-adjusted returns?

HAP currently has the higher Sharpe Ratio (2.54 vs 2.53), 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.