MSTI vs. AVSF

Last updated Apr 1, 2026

Compare and contrast key facts about Madison Short-Term Strategic Income ETF (MSTI) and Avantis Short-Term Fixed Income ETF (AVSF).

MSTI and AVSF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSTI is an actively managed fund by Madison. It was launched on Sep 5, 2023. AVSF is an actively managed fund by Avantis. It was launched on Oct 14, 2020.

Performance

MSTI vs. AVSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Short-Term Strategic Income ETF (MSTI) and Avantis Short-Term Fixed Income ETF (AVSF). The values are adjusted to include any dividend payments, if applicable.

MSTI vs. AVSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSTI Madison Short-Term Strategic Income ETF	0.25%	6.33%	4.84%	4.14%
AVSF Avantis Short-Term Fixed Income ETF	0.12%	6.57%	3.81%	3.40%

Returns By Period

In the year-to-date period, MSTI achieves a 0.25% return, which is significantly higher than AVSF's 0.12% return.

MSTI

• 1D: 0.34%
• 1M: -0.68%
• YTD: 0.25%
• 6M: 1.49%
• 1Y: 4.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVSF

• 1D: 0.20%
• 1M: -0.86%
• YTD: 0.12%
• 6M: 1.32%
• 1Y: 4.58%
• 3Y*: 4.69%
• 5Y*: 1.85%
• 10Y*: —

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

MSTI vs. AVSF - Expense Ratio Comparison

MSTI has a 0.40% expense ratio, which is higher than AVSF's 0.15% expense ratio.

MSTI

Madison Short-Term Strategic Income ETF

AVSF

Avantis Short-Term Fixed Income ETF

Return for Risk

MSTI vs. AVSF — Risk / Return Rank

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

MSTI

MSTI Risk / Return Rank: 90
MSTI Sharpe Ratio Rank: 85
MSTI Sortino Ratio Rank: 90
MSTI Omega Ratio Rank: 86
MSTI Calmar Ratio Rank: 94
MSTI Martin Ratio Rank: 94

AVSF

AVSF Risk / Return Rank: 93
AVSF Sharpe Ratio Rank: 93
AVSF Sortino Ratio Rank: 96
AVSF Omega Ratio Rank: 93
AVSF Calmar Ratio Rank: 92
AVSF Martin Ratio Rank: 93

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.

MSTI vs. AVSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Short-Term Strategic Income ETF (MSTI) and Avantis Short-Term Fixed Income ETF (AVSF). 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.

	MSTI	AVSF	Difference
Sharpe ratio Return per unit of total volatility	1.73	2.16	-0.43
Sortino ratio Return per unit of downside risk	2.56	3.19	-0.63
Omega ratio Gain probability vs. loss probability	1.34	1.43	-0.08
Calmar ratio Return relative to maximum drawdown	3.65	3.26	+0.39
Martin ratio Return relative to average drawdown	14.37	13.58	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTI vs. AVSF - Sharpe Ratio Comparison

The current MSTI Sharpe Ratio is 1.73, which is comparable to the AVSF Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of MSTI and AVSF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSTI	AVSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.16	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.24	0.66	+1.59

Correlation

The correlation between MSTI and AVSF is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MSTI vs. AVSF - Dividend Comparison

MSTI's dividend yield for the trailing twelve months is around 5.32%, more than AVSF's 4.36% yield.

	TTM	2025	2024	2023	2022	2021	2020
MSTI Madison Short-Term Strategic Income ETF	5.32%	5.40%	5.48%	1.55%	0.00%	0.00%	0.00%
AVSF Avantis Short-Term Fixed Income ETF	4.36%	4.31%	4.34%	3.93%	1.78%	0.48%	0.10%

Drawdowns

MSTI vs. AVSF - Drawdown Comparison

The maximum MSTI drawdown since its inception was -1.48%, smaller than the maximum AVSF drawdown of -8.85%. Use the drawdown chart below to compare losses from any high point for MSTI and AVSF.

Drawdown Indicators

	MSTI	AVSF	Difference
Max Drawdown Largest peak-to-trough decline	-1.48%	-8.85%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.32%	-1.42%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.85%	—
Current Drawdown Current decline from peak	-0.69%	-0.86%	+0.17%
Average Drawdown Average peak-to-trough decline	-0.29%	-2.26%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.34%	-0.01%

Volatility

MSTI vs. AVSF - Volatility Comparison

Madison Short-Term Strategic Income ETF (MSTI) has a higher volatility of 0.92% compared to Avantis Short-Term Fixed Income ETF (AVSF) at 0.86%. This indicates that MSTI's price experiences larger fluctuations and is considered to be riskier than AVSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTI	AVSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.86%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	1.75%	1.30%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	2.76%	2.13%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.73%	2.63%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.73%	2.54%	+0.19%