TNXT vs. AVUS

Last updated Jun 6, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and AVUS (Avantis U.S. Equity ETF) are both exchange-traded funds - TNXT is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while AVUS is a Large Cap Blend Equities fund actively managed by Avantis. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. TNXT charges 0.49%/yr vs 0.15%/yr for AVUS.

Performance

TNXT vs. AVUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Innovation Leaders ETF (TNXT) and Avantis U.S. Equity ETF (AVUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TNXT

• 1D: -4.11%
• 1M: -0.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVUS

• 1D: -2.49%
• 1M: 0.39%
• YTD: 12.20%
• 6M: 12.17%
• 1Y: 30.38%
• 3Y*: 21.42%
• 5Y*: 12.59%
• 10Y*: —

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

TNXT vs. AVUS - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	6.10%
AVUS Avantis U.S. Equity ETF	7.85%

Correlation

The correlation between TNXT and AVUS is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026	0.89

Return for Risk

TNXT vs. AVUS — Risk / Return Rank

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

AVUS

AVUS Risk / Return Rank: 79
AVUS Sharpe Ratio Rank: 78
AVUS Sortino Ratio Rank: 76
AVUS Omega Ratio Rank: 76
AVUS Calmar Ratio Rank: 78
AVUS Martin Ratio Rank: 86

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.

TNXT vs. AVUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) and Avantis U.S. Equity ETF (AVUS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TNXT	AVUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.46	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.78	+0.07

Drawdowns

TNXT vs. AVUS - Drawdown Comparison

The maximum TNXT drawdown since its inception was -12.97%, smaller than the maximum AVUS drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TNXT and AVUS.

Drawdown Indicators

	TNXT	AVUS	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-37.04%	+24.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.19%	—
Current Drawdown Current decline from peak	-4.98%	-2.49%	-2.49%
Average Drawdown Average peak-to-trough decline	-3.54%	-5.09%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.73%	—

Volatility

Volatility by Period

	TNXT	AVUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	12.41%	+9.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	17.32%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	20.86%	+1.00%

TNXT vs. AVUS - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is higher than AVUS's 0.15% expense ratio.

Dividends

TNXT vs. AVUS - Dividend Comparison

TNXT has not paid dividends to shareholders, while AVUS's dividend yield for the trailing twelve months is around 0.92%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVUS Avantis U.S. Equity ETF	0.92%	1.08%	1.27%	1.41%	1.59%	1.08%	1.19%	0.35%
TNXT T. Rowe Price Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNXT and AVUS in my portfolio?

TNXT and AVUS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNXT or AVUS?

On fees, AVUS is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or AVUS?

AVUS is cheaper with a 0.15% expense ratio, compared with 0.49% for TNXT.

Which ETF pays a higher dividend yield, TNXT or AVUS?

AVUS has the higher dividend yield at 0.92%, compared with 0.00% for TNXT.

What is the main difference between TNXT and AVUS?

TNXT is categorized as Large Cap Growth Equities, while AVUS is Large Cap Blend Equities. They also come from different issuers: T. Rowe Price and Avantis. Their fees differ too: 0.49% for TNXT and 0.15% for AVUS.