MFUS vs. AAVM

Last updated Jun 25, 2026

MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) and AAVM (Alpha Architect Global Factor Equity ETF) are both exchange-traded funds - MFUS is a Large Cap Growth Equities fund tracking the RAFI Dynamic Multi-Factor U.S. Index​, while AAVM is a Multi-factor fund actively managed by Alpha Architect. MFUS is passively managed, while AAVM is actively managed. Over the past 5 years, MFUS returned 12.96%/yr vs 6.38%/yr for AAVM. A 0.72 correlation means they provide meaningful diversification when combined. MFUS charges 0.30%/yr vs 0.45%/yr for AAVM.

Performance

MFUS vs. AAVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) and Alpha Architect Global Factor Equity ETF (AAVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFUS achieves a 17.04% return, which is significantly higher than AAVM's 13.54% return.

MFUS

• 1D: -0.05%
• 1M: 2.36%
• YTD: 17.04%
• 6M: 15.74%
• 1Y: 26.63%
• 3Y*: 21.86%
• 5Y*: 12.96%
• 10Y*: —

AAVM

• 1D: -0.39%
• 1M: -1.55%
• YTD: 13.54%
• 6M: 12.26%
• 1Y: 28.38%
• 3Y*: 18.06%
• 5Y*: 6.38%
• 10Y*: —

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

MFUS vs. AAVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	17.04%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	26.17%	-7.30%	11.20%
AAVM Alpha Architect Global Factor Equity ETF	13.54%	18.54%	12.07%	-0.74%	-7.00%	3.52%	4.69%	4.59%	-15.64%	11.41%

Correlation

The correlation between MFUS and AAVM is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 6, 2017	0.72

The correlation between MFUS and AAVM shifts across timeframes, from 0.72 (5 years) to 0.84 (1 year), reflecting how their relationship changes across market environments.

MFUS vs. AAVM - Sectors Allocation Comparison

Sectors	MFUS	AAVM
Technology	24.7%	13.6%
Healthcare	13.4%	5.8%
Industrials	12.2%	25.5%
Financial Services	12.0%	1.3%
Consumer Cyclical	10.5%	13.5%
Consumer Defensive	9.7%	4.7%
Energy	6.4%	12.6%
Communication Services	5.1%	5.8%
Basic Materials	2.8%	12.2%
Real Estate	1.7%	1.3%
Utilities	1.6%	3.8%

Return for Risk

MFUS vs. AAVM — Risk / Return Rank

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

MFUS

MFUS Risk / Return Rank: 85
MFUS Sharpe Ratio Rank: 84
MFUS Sortino Ratio Rank: 86
MFUS Omega Ratio Rank: 81
MFUS Calmar Ratio Rank: 85
MFUS Martin Ratio Rank: 88

AAVM

AAVM Risk / Return Rank: 62
AAVM Sharpe Ratio Rank: 60
AAVM Sortino Ratio Rank: 61
AAVM Omega Ratio Rank: 61
AAVM Calmar Ratio Rank: 60
AAVM Martin Ratio Rank: 66

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.

MFUS vs. AAVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) and Alpha Architect Global Factor Equity ETF (AAVM). 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.

	MFUS	AAVM	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.78	+0.61
Sortino ratio: Return per unit of downside risk	3.40	2.52	+0.88
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	4.19	2.63	+1.56
Martin ratio: Return relative to average drawdown	17.01	10.68	+6.33

MFUS vs. AAVM - Sharpe Ratio Comparison

The current MFUS Sharpe Ratio is 2.39, which is higher than the AAVM Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of MFUS and AAVM, 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

MFUS vs. AAVM - Drawdown Comparison

The maximum MFUS drawdown since its inception was -35.21%, roughly equal to the maximum AAVM drawdown of -34.71%. Use the drawdown chart below to compare losses from any high point for MFUS and AAVM.

Drawdown Indicators

	MFUS	AAVM	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-34.71%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-10.85%	+4.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.39%	-20.23%	+4.84%
Max Drawdown (5Y) Largest decline over 5 years	-18.22%	-23.73%	+5.51%
Current Drawdown Current decline from peak	-1.10%	-3.73%	+2.63%
Average Drawdown Average peak-to-trough decline	-3.98%	-13.24%	+9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	2.66%	-1.09%

Volatility

MFUS vs. AAVM - Volatility Comparison

The current volatility for PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) is 4.20%, while Alpha Architect Global Factor Equity ETF (AAVM) has a volatility of 5.92%. This indicates that MFUS experiences smaller price fluctuations and is considered to be less risky than AAVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFUS	AAVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	5.92%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	13.77%	-4.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	16.05%	-4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	15.80%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	14.96%	+2.38%

MFUS vs. AAVM - Expense Ratio Comparison

MFUS has a 0.30% expense ratio, which is lower than AAVM's 0.45% expense ratio.

Dividends

MFUS vs. AAVM - Dividend Comparison

MFUS's dividend yield for the trailing twelve months is around 1.35%, less than AAVM's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAVM Alpha Architect Global Factor Equity ETF	1.81%	2.05%	2.54%	4.13%	2.24%	0.82%	0.00%	1.76%	0.93%	0.81%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.35%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%

Frequently Asked Questions

Can I hold both MFUS and AAVM in my portfolio?

MFUS and AAVM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFUS or AAVM?

AAVM has higher volatility (5.92%) compared to MFUS (4.20%). In terms of maximum drawdown, MFUS dropped -35.21% vs AAVM's -34.71%.

Which ETF is better, MFUS or AAVM?

On 5-year performance, MFUS leads with 12.96% vs 6.38% for AAVM. On fees, MFUS is cheaper at 0.30% per year. On volatility, MFUS has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFUS or AAVM?

Over the 5-year period, MFUS has performed better with a 12.96% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFUS or AAVM?

MFUS is cheaper with a 0.30% expense ratio, compared with 0.45% for AAVM.

Which ETF pays a higher dividend yield, MFUS or AAVM?

AAVM has the higher dividend yield at 1.81%, compared with 1.35% for MFUS.

What is the main difference between MFUS and AAVM?

MFUS is categorized as Large Cap Growth Equities, while AAVM is Multi-factor. They also come from different issuers: PIMCO and Alpha Architect. Their fees differ too: 0.30% for MFUS and 0.45% for AAVM.

Which has better risk-adjusted returns?

MFUS currently has the higher Sharpe Ratio (2.39 vs 1.78), 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.