IEMG vs. AVUV

Last updated Jun 7, 2026

IEMG (iShares Core MSCI Emerging Markets ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while AVUV is a Small Cap Value Equities fund actively managed by Avantis. IEMG is passively managed, while AVUV is actively managed. Over the past 5 years, IEMG returned 5.95%/yr vs 10.66%/yr for AVUV. A 0.56 correlation means they provide meaningful diversification when combined. IEMG charges 0.09%/yr vs 0.25%/yr for AVUV.

Performance

IEMG vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Emerging Markets ETF (IEMG) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IEMG having a 16.97% return and AVUV slightly higher at 17.68%.

IEMG

• 1D: -6.40%
• 1M: -3.49%
• YTD: 16.97%
• 6M: 18.63%
• 1Y: 38.44%
• 3Y*: 20.12%
• 5Y*: 5.95%
• 10Y*: 9.39%

AVUV

• 1D: -1.44%
• 1M: 0.44%
• YTD: 17.68%
• 6M: 17.05%
• 1Y: 35.45%
• 3Y*: 18.50%
• 5Y*: 10.66%
• 10Y*: —

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

IEMG vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IEMG iShares Core MSCI Emerging Markets ETF	16.97%	32.56%	6.50%	11.52%	-19.98%	-0.64%	17.87%	11.22%
AVUV Avantis US Small Cap Value ETF	17.68%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.50%

Correlation

The correlation between IEMG and AVUV is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.56

The correlation between IEMG and AVUV has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

IEMG vs. AVUV - Sectors Allocation Comparison

Sectors	IEMG	AVUV
Technology	35.0%	7.0%
Financial Services	18.4%	25.8%
Consumer Cyclical	9.5%	18.0%
Industrials	9.0%	13.9%
Basic Materials	6.9%	4.9%
Communication Services	6.4%	2.8%
Energy	3.8%	18.2%
Healthcare	3.7%	4.2%
Consumer Defensive	3.3%	4.5%
Utilities	2.2%	0.1%
Real Estate	1.7%	0.7%

Return for Risk

IEMG vs. AVUV — Risk / Return Rank

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

IEMG

IEMG Risk / Return Rank: 59
IEMG Sharpe Ratio Rank: 58
IEMG Sortino Ratio Rank: 52
IEMG Omega Ratio Rank: 61
IEMG Calmar Ratio Rank: 61
IEMG Martin Ratio Rank: 64

AVUV

AVUV Risk / Return Rank: 71
AVUV Sharpe Ratio Rank: 66
AVUV Sortino Ratio Rank: 68
AVUV Omega Ratio Rank: 62
AVUV Calmar Ratio Rank: 86
AVUV Martin Ratio Rank: 75

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.

IEMG vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) 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.

	IEMG	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.14	-0.23
Sortino ratio: Return per unit of downside risk	2.49	3.06	-0.58
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.97	4.73	-1.76
Martin ratio: Return relative to average drawdown	11.26	14.03	-2.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEMG vs. AVUV - Sharpe Ratio Comparison

The current IEMG Sharpe Ratio is 1.91, which is comparable to the AVUV Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of IEMG 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.

Sharpe Ratios by Period

	IEMG	AVUV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.14	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.47	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.56	-0.24

Drawdowns

IEMG vs. AVUV - Drawdown Comparison

The maximum IEMG drawdown since its inception was -38.71%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for IEMG and AVUV.

Drawdown Indicators

	IEMG	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	-49.42%	+10.71%
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	-7.95%	-5.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.21%	-28.79%	+11.58%
Max Drawdown (5Y) Largest decline over 5 years	-35.75%	-28.79%	-6.96%
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	—	—
Current Drawdown Current decline from peak	-8.56%	-1.44%	-7.12%
Average Drawdown Average peak-to-trough decline	-12.97%	-7.94%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	2.67%	+0.80%

Volatility

IEMG vs. AVUV - Volatility Comparison

iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 10.23% compared to Avantis US Small Cap Value ETF (AVUV) at 4.30%. This indicates that IEMG'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

	IEMG	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.23%	4.30%	+5.93%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	11.36%	+6.92%
Volatility (1Y) Calculated over the trailing 1-year period	20.52%	17.56%	+2.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	22.74%	-4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	28.29%	-8.16%

IEMG vs. AVUV - Expense Ratio Comparison

IEMG has a 0.09% expense ratio, which is lower than AVUV's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEMG vs. AVUV - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.35%, more than AVUV's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVUV Avantis US Small Cap Value ETF	1.30%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
IEMG iShares Core MSCI Emerging Markets ETF	2.35%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%

Frequently Asked Questions

Can I hold both IEMG and AVUV in my portfolio?

IEMG and AVUV have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEMG or AVUV?

IEMG has higher volatility (10.23%) compared to AVUV (4.30%). In terms of maximum drawdown, IEMG dropped -38.71% vs AVUV's -49.42%.

Which ETF is better, IEMG or AVUV?

On 5-year performance, AVUV leads with 10.66% vs 5.95% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, AVUV has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEMG or AVUV?

Over the 5-year period, AVUV has performed better with a 10.66% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEMG or AVUV?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.25% for AVUV.

Which ETF pays a higher dividend yield, IEMG or AVUV?

IEMG has the higher dividend yield at 2.35%, compared with 1.30% for AVUV.

What is the main difference between IEMG and AVUV?

IEMG is categorized as Emerging Markets Diversified, while AVUV is Small Cap Value Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.09% for IEMG and 0.25% for AVUV.

Which has better risk-adjusted returns?

AVUV currently has the higher Sharpe Ratio (2.14 vs 1.91), 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.