R2US.L vs. AVUV

Last updated Jun 26, 2026

R2US.L (SPDR Russell 2000 US Small Cap UCITS ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - R2US.L is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. R2US.L is passively managed, while AVUV is actively managed. Over the past 5 years, R2US.L returned 6.10%/yr vs 11.84%/yr for AVUV. A 0.59 correlation means they provide meaningful diversification when combined. R2US.L charges 0.30%/yr vs 0.25%/yr for AVUV.

Performance

R2US.L vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 2000 US Small Cap UCITS ETF (R2US.L) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, R2US.L achieves a 20.92% return, which is significantly lower than AVUV's 22.51% return.

R2US.L

• 1D: -0.13%
• 1M: 3.65%
• YTD: 20.92%
• 6M: 18.80%
• 1Y: 41.76%
• 3Y*: 19.23%
• 5Y*: 6.10%
• 10Y*: 11.70%

AVUV

• 1D: 0.80%
• 1M: 2.69%
• YTD: 22.51%
• 6M: 20.34%
• 1Y: 40.79%
• 3Y*: 20.34%
• 5Y*: 11.84%
• 10Y*: —

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

R2US.L vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
R2US.L SPDR Russell 2000 US Small Cap UCITS ETF	20.92%	12.33%	10.16%	18.73%	-21.12%	14.48%	19.82%	7.99%
AVUV Avantis US Small Cap Value ETF	22.51%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.54%

Correlation

The correlation between R2US.L and AVUV is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.60

The correlation between R2US.L and AVUV has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

R2US.L vs. AVUV - Sectors Allocation Comparison

Sectors	R2US.L	AVUV
Industrials	17.7%	13.6%
Technology	17.1%	7.4%
Healthcare	16.5%	4.8%
Financial Services	15.7%	26.1%
Consumer Cyclical	8.4%	18.7%
Energy	6.1%	15.8%
Real Estate	6.1%	0.7%
Basic Materials	4.8%	5.1%
Utilities	2.9%	0.1%
Communication Services	2.5%	3.1%
Consumer Defensive	2.4%	4.7%

Return for Risk

R2US.L vs. AVUV — Risk / Return Rank

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

R2US.L

R2US.L Risk / Return Rank: 79
R2US.L Sharpe Ratio Rank: 81
R2US.L Sortino Ratio Rank: 83
R2US.L Omega Ratio Rank: 73
R2US.L Calmar Ratio Rank: 84
R2US.L Martin Ratio Rank: 77

AVUV

AVUV Risk / Return Rank: 85
AVUV Sharpe Ratio Rank: 84
AVUV Sortino Ratio Rank: 85
AVUV Omega Ratio Rank: 78
AVUV Calmar Ratio Rank: 91
AVUV Martin Ratio Rank: 85

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.

R2US.L vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (R2US.L) 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.

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.

	R2US.L	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.33	-0.08
Sortino ratio: Return per unit of downside risk	3.24	3.29	-0.06
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	4.05	5.15	-1.11
Martin ratio: Return relative to average drawdown	12.92	15.28	-2.35

R2US.L vs. AVUV - Sharpe Ratio Comparison

The current R2US.L Sharpe Ratio is 2.25, which is comparable to the AVUV Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of R2US.L 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.

Drawdowns

R2US.L vs. AVUV - Drawdown Comparison

The maximum R2US.L drawdown since its inception was -42.19%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for R2US.L and AVUV.

Drawdown Indicators

	R2US.L	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-42.19%	-49.42%	+7.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.27%	-7.95%	-2.32%
Max Drawdown (3Y) Largest decline over 3 years	-28.95%	-28.79%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-32.04%	-28.79%	-3.25%
Max Drawdown (10Y) Largest decline over 10 years	-42.19%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.18%	+0.05%
Average Drawdown Average peak-to-trough decline	-9.83%	-7.88%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	2.68%	+0.54%

Volatility

R2US.L vs. AVUV - Volatility Comparison

SPDR Russell 2000 US Small Cap UCITS ETF (R2US.L) has a higher volatility of 4.94% compared to Avantis US Small Cap Value ETF (AVUV) at 4.22%. This indicates that R2US.L'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

	R2US.L	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	4.22%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	13.73%	11.42%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	18.51%	17.63%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.24%	22.65%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	28.20%	-6.18%

R2US.L vs. AVUV - Expense Ratio Comparison

R2US.L has a 0.30% expense ratio, which is higher than AVUV's 0.25% expense ratio.

Dividends

R2US.L vs. AVUV - Dividend Comparison

R2US.L has not paid dividends to shareholders, while AVUV's dividend yield for the trailing twelve months is around 1.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVUV Avantis US Small Cap Value ETF	1.26%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%
R2US.L SPDR Russell 2000 US Small Cap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both R2US.L and AVUV in my portfolio?

R2US.L and AVUV have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, R2US.L or AVUV?

On fees, AVUV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, R2US.L or AVUV?

AVUV is cheaper with a 0.25% expense ratio, compared with 0.30% for R2US.L.

What is the main difference between R2US.L and AVUV?

R2US.L is categorized as Small Cap Blend Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: State Street Global Advisors and Avantis. Their fees differ too: 0.30% for R2US.L and 0.25% for AVUV.