SPGP vs. AVDV

Last updated Jun 13, 2026

SPGP (Invesco S&P 500 GARP ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - SPGP is a Multi-factor fund tracking the S&P 500 GARP Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. SPGP is passively managed, while AVDV is actively managed. Over the past 5 years, SPGP returned 7.97%/yr vs 13.63%/yr for AVDV. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.36% expense ratio.

Performance

SPGP vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 GARP ETF (SPGP) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPGP achieves a 6.06% return, which is significantly lower than AVDV's 14.99% return.

SPGP

• 1D: 0.84%
• 1M: 3.85%
• YTD: 6.06%
• 6M: 5.64%
• 1Y: 16.13%
• 3Y*: 11.97%
• 5Y*: 7.97%
• 10Y*: 15.11%

AVDV

• 1D: 0.89%
• 1M: -1.95%
• YTD: 14.99%
• 6M: 17.18%
• 1Y: 40.93%
• 3Y*: 26.72%
• 5Y*: 13.63%
• 10Y*: —

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

SPGP vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPGP Invesco S&P 500 GARP ETF	6.06%	9.80%	8.48%	20.29%	-13.83%	35.72%	15.92%	11.07%
AVDV Avantis International Small Cap Value ETF	14.99%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between SPGP and AVDV is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.71

The correlation between SPGP and AVDV shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

SPGP vs. AVDV - Sectors Allocation Comparison

Sectors	SPGP	AVDV
Technology	22.8%	6.4%
Financial Services	22.2%	13.7%
Consumer Cyclical	18.0%	14.4%
Industrials	16.8%	21.3%
Energy	7.1%	10.8%
Communication Services	6.6%	2.0%
Healthcare	3.8%	2.1%
Real Estate	2.7%	1.1%
Basic Materials	-	22.5%
Consumer Defensive	-	3.4%
Utilities	-	1.7%

Return for Risk

SPGP vs. AVDV — Risk / Return Rank

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

SPGP

SPGP Risk / Return Rank: 34
SPGP Sharpe Ratio Rank: 33
SPGP Sortino Ratio Rank: 33
SPGP Omega Ratio Rank: 30
SPGP Calmar Ratio Rank: 33
SPGP Martin Ratio Rank: 39

AVDV

AVDV Risk / Return Rank: 81
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 86
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 71
AVDV Martin Ratio Rank: 76

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.

SPGP vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 GARP ETF (SPGP) and Avantis International Small Cap Value ETF (AVDV). 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.

	SPGP	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.53	-1.50
Sortino ratio: Return per unit of downside risk	1.57	3.36	-1.79
Omega ratio: Gain probability vs. loss probability	1.19	1.46	-0.27
Calmar ratio: Return relative to maximum drawdown	1.45	3.12	-1.67
Martin ratio: Return relative to average drawdown	5.54	12.44	-6.91

SPGP vs. AVDV - Sharpe Ratio Comparison

The current SPGP Sharpe Ratio is 1.04, which is lower than the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SPGP and AVDV, 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

SPGP vs. AVDV - Drawdown Comparison

The maximum SPGP drawdown since its inception was -42.08%, roughly equal to the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for SPGP and AVDV.

Drawdown Indicators

	SPGP	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-42.08%	-43.01%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-13.19%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-22.87%	-14.17%	-8.70%
Max Drawdown (5Y) Largest decline over 5 years	-22.87%	-28.08%	+5.21%
Max Drawdown (10Y) Largest decline over 10 years	-42.08%	—	—
Current Drawdown Current decline from peak	-1.05%	-2.24%	+1.19%
Average Drawdown Average peak-to-trough decline	-4.35%	-6.76%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	3.30%	-0.38%

Volatility

SPGP vs. AVDV - Volatility Comparison

The current volatility for Invesco S&P 500 GARP ETF (SPGP) is 5.43%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that SPGP experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPGP	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	6.26%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	13.88%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	15.63%	16.25%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	17.41%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	19.77%	+1.46%

SPGP vs. AVDV - Expense Ratio Comparison

Both SPGP and AVDV have an expense ratio of 0.36%.

Dividends

SPGP vs. AVDV - Dividend Comparison

SPGP's dividend yield for the trailing twelve months is around 0.88%, less than AVDV's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.11%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%	0.00%
SPGP Invesco S&P 500 GARP ETF	0.88%	1.04%	1.38%	1.24%	1.22%	0.69%	1.10%	0.86%	0.95%	0.68%	0.89%	1.12%

Frequently Asked Questions

Can I hold both SPGP and AVDV in my portfolio?

SPGP and AVDV have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPGP or AVDV?

AVDV has higher volatility (6.26%) compared to SPGP (5.43%). In terms of maximum drawdown, SPGP dropped -42.08% vs AVDV's -43.01%.

Which ETF is better, SPGP or AVDV?

On 5-year performance, AVDV leads with 13.63% vs 7.97% for SPGP. Both ETFs have the same 0.36% expense ratio. On volatility, SPGP has been the lower-risk option at 5.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPGP or AVDV?

Over the 5-year period, AVDV has performed better with a 13.63% return vs 7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPGP or AVDV?

SPGP and AVDV have the same expense ratio: 0.36% per year.

Which ETF pays a higher dividend yield, SPGP or AVDV?

AVDV has the higher dividend yield at 4.11%, compared with 0.88% for SPGP.

What is the main difference between SPGP and AVDV?

SPGP is categorized as Multi-factor, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: Invesco and Avantis.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.53 vs 1.04), 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.