XSHQ vs. AVDV

Last updated Jun 24, 2026

XSHQ (Invesco S&P SmallCap Quality ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XSHQ is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Quality Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XSHQ is passively managed, while AVDV is actively managed. Over the past 5 years, XSHQ returned 6.38%/yr vs 13.85%/yr for AVDV. A 0.68 correlation means they provide meaningful diversification when combined. XSHQ charges 0.29%/yr vs 0.36%/yr for AVDV.

Performance

XSHQ vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Quality ETF (XSHQ) 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, XSHQ achieves a 11.54% return, which is significantly lower than AVDV's 13.23% return.

XSHQ

• 1D: -0.74%
• 1M: 2.36%
• YTD: 11.54%
• 6M: 9.12%
• 1Y: 17.70%
• 3Y*: 12.17%
• 5Y*: 6.38%
• 10Y*: —

AVDV

• 1D: -2.28%
• 1M: -1.84%
• YTD: 13.23%
• 6M: 12.69%
• 1Y: 40.80%
• 3Y*: 27.46%
• 5Y*: 13.85%
• 10Y*: —

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

XSHQ vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XSHQ Invesco S&P SmallCap Quality ETF	11.54%	0.89%	7.49%	23.88%	-15.01%	23.99%	11.81%	5.64%
AVDV Avantis International Small Cap Value ETF	13.23%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between XSHQ and AVDV is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.68

The correlation between XSHQ and AVDV has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

XSHQ vs. AVDV - Sectors Allocation Comparison

Sectors	XSHQ	AVDV
Financial Services	23.4%	13.6%
Industrials	20.9%	22.8%
Technology	19.8%	6.6%
Consumer Cyclical	14.4%	15.4%
Healthcare	8.8%	2.3%
Energy	4.4%	9.6%
Consumer Defensive	4.0%	3.4%
Basic Materials	2.5%	21.0%
Real Estate	1.0%	1.3%
Communication Services	0.9%	2.4%
Utilities	-	1.7%

Return for Risk

XSHQ vs. AVDV — Risk / Return Rank

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

XSHQ

XSHQ Risk / Return Rank: 32
XSHQ Sharpe Ratio Rank: 30
XSHQ Sortino Ratio Rank: 32
XSHQ Omega Ratio Rank: 27
XSHQ Calmar Ratio Rank: 36
XSHQ Martin Ratio Rank: 33

AVDV

AVDV Risk / Return Rank: 74
AVDV Sharpe Ratio Rank: 81
AVDV Sortino Ratio Rank: 77
AVDV Omega Ratio Rank: 79
AVDV Calmar Ratio Rank: 65
AVDV Martin Ratio Rank: 69

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.

XSHQ vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) 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.

	XSHQ	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.50	-1.48
Sortino ratio: Return per unit of downside risk	1.63	3.29	-1.65
Omega ratio: Gain probability vs. loss probability	1.18	1.45	-0.27
Calmar ratio: Return relative to maximum drawdown	1.73	3.11	-1.38
Martin ratio: Return relative to average drawdown	4.75	12.36	-7.61

XSHQ vs. AVDV - Sharpe Ratio Comparison

The current XSHQ Sharpe Ratio is 1.02, which is lower than the AVDV Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of XSHQ 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

XSHQ vs. AVDV - Drawdown Comparison

The maximum XSHQ drawdown since its inception was -38.33%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for XSHQ and AVDV.

Drawdown Indicators

	XSHQ	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-38.33%	-43.01%	+4.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.27%	-13.19%	+2.92%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	-14.17%	-13.17%
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	-28.08%	+0.74%
Current Drawdown Current decline from peak	-0.74%	-3.73%	+2.99%
Average Drawdown Average peak-to-trough decline	-9.29%	-6.74%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.31%	+0.43%

Volatility

XSHQ vs. AVDV - Volatility Comparison

The current volatility for Invesco S&P SmallCap Quality ETF (XSHQ) is 4.09%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.23%. This indicates that XSHQ 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

	XSHQ	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	6.23%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	14.14%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	17.52%	16.42%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	17.41%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.09%	19.76%	+3.33%

XSHQ vs. AVDV - Expense Ratio Comparison

XSHQ has a 0.29% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

XSHQ vs. AVDV - Dividend Comparison

XSHQ's dividend yield for the trailing twelve months is around 1.21%, less than AVDV's 4.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVDV Avantis International Small Cap Value ETF	4.17%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%
XSHQ Invesco S&P SmallCap Quality ETF	1.21%	1.48%	1.18%	1.15%	2.02%	1.25%	1.24%	1.11%	1.16%	0.60%

Frequently Asked Questions

Can I hold both XSHQ and AVDV in my portfolio?

XSHQ and AVDV have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSHQ or AVDV?

AVDV has higher volatility (6.23%) compared to XSHQ (4.09%). In terms of maximum drawdown, XSHQ dropped -38.33% vs AVDV's -43.01%.

Which ETF is better, XSHQ or AVDV?

On 5-year performance, AVDV leads with 13.85% vs 6.38% for XSHQ. On fees, XSHQ is cheaper at 0.29% per year. On volatility, XSHQ has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSHQ or AVDV?

Over the 5-year period, AVDV has performed better with a 13.85% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSHQ or AVDV?

XSHQ is cheaper with a 0.29% expense ratio, compared with 0.36% for AVDV.

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

AVDV has the higher dividend yield at 4.17%, compared with 1.21% for XSHQ.

What is the main difference between XSHQ and AVDV?

XSHQ is categorized as Small Cap Growth Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: Invesco and Avantis. Their fees differ too: 0.29% for XSHQ and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.50 vs 1.02), 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.