LVAZX vs. AVEEX

Last updated Jun 4, 2026

LVAZX (LSV Emerging Markets Equity Fund) and AVEEX (Avantis Emerging Markets Equity Fund) are both Emerging Markets Diversified funds. Over the past 5 years, LVAZX returned 16.04%/yr vs 9.64%/yr for AVEEX. Their correlation of 0.90 suggests significant overlap in exposure. LVAZX charges 1.45%/yr vs 0.33%/yr for AVEEX.

Performance

LVAZX vs. AVEEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Emerging Markets Equity Fund (LVAZX) and Avantis Emerging Markets Equity Fund (AVEEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVAZX achieves a 36.52% return, which is significantly higher than AVEEX's 26.68% return.

LVAZX

• 1D: 1.05%
• 1M: 13.46%
• YTD: 36.52%
• 6M: 41.03%
• 1Y: 69.73%
• 3Y*: 32.01%
• 5Y*: 16.04%
• 10Y*: —

AVEEX

• 1D: 0.59%
• 1M: 9.10%
• YTD: 26.68%
• 6M: 28.92%
• 1Y: 52.45%
• 3Y*: 25.40%
• 5Y*: 9.64%
• 10Y*: —

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

LVAZX vs. AVEEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LVAZX LSV Emerging Markets Equity Fund	36.52%	39.90%	7.26%	21.26%	-13.03%	13.77%	5.03%	6.96%
AVEEX Avantis Emerging Markets Equity Fund	26.68%	32.09%	7.68%	15.15%	-18.15%	5.21%	15.72%	7.38%

Correlation

The correlation between LVAZX and AVEEX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.90

The correlation between LVAZX and AVEEX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

LVAZX vs. AVEEX — Risk / Return Rank

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

LVAZX

LVAZX Risk / Return Rank: 97
LVAZX Sharpe Ratio Rank: 99
LVAZX Sortino Ratio Rank: 96
LVAZX Omega Ratio Rank: 96
LVAZX Calmar Ratio Rank: 96
LVAZX Martin Ratio Rank: 96

AVEEX

AVEEX Risk / Return Rank: 89
AVEEX Sharpe Ratio Rank: 94
AVEEX Sortino Ratio Rank: 88
AVEEX Omega Ratio Rank: 88
AVEEX Calmar Ratio Rank: 87
AVEEX Martin Ratio Rank: 87

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.

LVAZX vs. AVEEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Emerging Markets Equity Fund (LVAZX) and Avantis Emerging Markets Equity Fund (AVEEX). 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.

	LVAZX	AVEEX	Difference
Sharpe ratio Return per unit of total volatility	4.45	3.31	+1.14
Sortino ratio Return per unit of downside risk	5.48	4.23	+1.25
Omega ratio Gain probability vs. loss probability	1.84	1.61	+0.23
Calmar ratio Return relative to maximum drawdown	6.16	4.21	+1.95
Martin ratio Return relative to average drawdown	24.21	16.73	+7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LVAZX vs. AVEEX - Sharpe Ratio Comparison

The current LVAZX Sharpe Ratio is 4.45, which is higher than the AVEEX Sharpe Ratio of 3.31. The chart below compares the historical Sharpe Ratios of LVAZX and AVEEX, 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

	LVAZX	AVEEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.45	3.31	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.61	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.70	+0.22

Drawdowns

LVAZX vs. AVEEX - Drawdown Comparison

The maximum LVAZX drawdown since its inception was -37.87%, roughly equal to the maximum AVEEX drawdown of -36.45%. Use the drawdown chart below to compare losses from any high point for LVAZX and AVEEX.

Drawdown Indicators

	LVAZX	AVEEX	Difference
Max Drawdown Largest peak-to-trough decline	-37.87%	-36.45%	-1.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-12.64%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-15.02%	-17.34%	+2.32%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-33.72%	+6.65%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.78%	-10.32%	+3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.17%	-0.26%

Volatility

LVAZX vs. AVEEX - Volatility Comparison

LSV Emerging Markets Equity Fund (LVAZX) and Avantis Emerging Markets Equity Fund (AVEEX) have volatilities of 7.12% and 6.80%, 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

	LVAZX	AVEEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.12%	6.80%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	13.49%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.84%	16.07%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	15.87%	-1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.92%	18.75%	-2.83%

LVAZX vs. AVEEX - Expense Ratio Comparison

LVAZX has a 1.45% expense ratio, which is higher than AVEEX's 0.33% expense ratio.

Dividends

LVAZX vs. AVEEX - Dividend Comparison

LVAZX's dividend yield for the trailing twelve months is around 3.75%, more than AVEEX's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEEX Avantis Emerging Markets Equity Fund	2.76%	3.50%	2.93%	3.51%	3.48%	1.92%	1.52%	0.26%
LVAZX LSV Emerging Markets Equity Fund	3.75%	5.12%	1.39%	4.58%	3.14%	8.50%	2.54%	2.99%

Frequently Asked Questions

Can I hold both LVAZX and AVEEX in my portfolio?

With a correlation of 0.95, LVAZX and AVEEX 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, LVAZX or AVEEX?

LVAZX has higher volatility (7.12%) compared to AVEEX (6.80%). In terms of maximum drawdown, LVAZX dropped -37.87% vs AVEEX's -36.45%.

Which has better risk-adjusted returns?

LVAZX currently has the higher Sharpe Ratio (4.45 vs 3.31), 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.