What is the primary difference in investment strategy between AVDE and AVIV?

AVDE is classified as a Foreign Large Blend ETF, aiming to capture a broad mix of growth and value characteristics within international developed markets. In contrast, AVIV is a Foreign Large Value ETF, specifically targeting companies that appear undervalued relative to their fundamentals. This distinction means AVDE offers a wider economic view, while AVIV concentrates on sectors or firms where price levels are considered low compared to earnings or assets, reflecting the fundamental strategic divergence between these two Avantis products.

What does the expense ratio represent in these ETF comparisons?

The expense ratio is the annual fee charged by a fund to manage its assets, expressed as a percentage of your investment. For AVDE, this cost is 0.23%, while AVIV charges 0.25%. These fees cover operational costs, including management salaries and administrative expenses. A lower expense ratio does not guarantee higher returns, but it does mean that less money is deducted from the fund's assets over time, potentially influencing the net return an investor receives compared to the gross performance of the underlying holdings.

How does the inception date affect the available historical performance data?

AVDE was launched on 24 September 2019, while AVIV began trading on 28 September 2021. This two-year difference means AVDE has a longer operational history, providing more data points for analyzing how it performed through various market cycles. AVIV, being newer, has a shorter track record, which may limit the ability to assess its long-term consistency or behaviour during different economic environments. Investors comparing these funds should consider the depth of historical evidence available for each when evaluating past performance metrics.

How do the expense ratios of AVDE and AVIV compare over time?

AVDE has an expense ratio of 0.23%, whereas AVIV is slightly higher at 0.25%. This results in a 0.02 percentage point difference. While this gap appears minimal annually, it can compound over long investment horizons. For example, on a $10,000 investment, the annual cost difference is $2. The impact grows with the size of the capital invested and the duration. Investors should recognise that while fees are important, they should be evaluated alongside other factors like strategy alignment and potential returns.

What is the significance of the differences in net assets?

AVDE manages $19.1 billion in net assets, significantly larger than AVIV's $2.1 billion. Higher assets under management can enhance liquidity and trading volume, potentially narrowing bid-ask spreads. However, very large funds might face constraints in executing trades without affecting market prices, especially in smaller international markets. Conversely, smaller funds like AVIV may offer more flexibility in holding adjustments but could be subject to wider spreads or lower daily trading volumes, impacting ease of entry or exit for larger positions.

Which investing goals are typically associated with each fund?

AVDE, as a Foreign Large Blend ETF, is generally suited for investors seeking broad, diversified exposure to international developed markets, capturing both growth and value elements. It supports a core holding strategy for global equity allocation. AVIV, a Foreign Large Value ETF, is typically aligned with goals focused on value investing principles, where the aim is to outperform through long-term recovery or undervaluation. Investors might pair AVDE with domestic funds or use AVIV as a complementary value tilt to a broader portfolio, depending on their strategic asset allocation.

How do the dividend yields of AVDE and AVIV differ?

AVDE currently reports a dividend yield of 2.74%, while AVIV offers a slightly higher yield of 2.77%. Both funds provide reasonable income streams for equity holdings. The marginal difference reflects the specific companies included in each fund and their respective payout policies. It is important to note that dividends can vary over time and are not guaranteed. Investors should look at the consistency of payouts and the sustainability of earnings in the underlying companies, rather than focusing solely on the current yield percentage.

How do the top holdings of AVDE and AVIV overlap?

There is notable overlap in the top holdings of both funds, including ASML, SHEL, BBVA, BHP, BP, and TM. This suggests that the underlying value and blend criteria in international markets may converge on certain large, established companies. However, the weightings differ; for instance, ASML is the top holding in AVDE at 1.27%, whereas it appears later in AVIV's list. This indicates that while they share common stocks, their portfolio construction and prioritisation of these assets vary according to their specific investment mandates.

What does the concentration in specific stocks indicate for each fund?

AVDE’s largest holding, ASML, represents 1.27% of its portfolio, indicating limited single-stock exposure and a more diversified approach. In contrast, AVIV’s top holding, BBVA, accounts for 2.55%, reflecting a higher concentration in specific Spanish banks. This difference aligns with their strategies: AVDE seeks broad market representation, while AVIV’s value mandate may lead to overweighting sectors perceived as undervalued. Consequently, AVIV may exhibit higher sensitivity to the performance of specific industries or regional economic factors compared to AVDE.

How do the tracking methods differ despite having no listed index?

The fund data indicates that no specific benchmark index is tracked by either AVDE or AVIV. Instead, these are actively managed ETFs by Avantis, which typically employ rules-based factor investing strategies. This means their exposures differ from traditional passive funds that mirror an index like the MSCI World. AVDE targets a blend of size and value factors across a broad universe, while AVIV applies a more concentrated value tilt within large-cap international equities, resulting in distinct portfolio constructions without a single fixed index reference.

What considerations should beginners make regarding sector weights?

For both AVDE and AVIV, the sector weights are listed as not available in the current data. Beginners should be aware that without explicit sector breakdowns, it is difficult to instantly assess if one fund is heavily overweight in technology or financials compared to the other. However, analysing the top holdings can provide some insight. Investors might consider looking directly at the fund provider's detailed holdings report to understand the sector distribution and ensure it aligns with their risk tolerance and diversification needs.

How does liquidity impact trading these two ETFs?

Liquidity is often tied to assets under management and trading volume. With $19.1 billion in net assets, AVDE generally offers higher liquidity and tighter bid-ask spreads than AVIV, which holds $2.1 billion. While both are tradeable ETFs, the larger size of AVDE may result in lower transaction costs and easier execution for larger orders. Investors should monitor their brokerage platform for real-time spreads, particularly for AVIV, to ensure that trading costs do not significantly erode the fund's potential returns.

AVDE vs AVIV

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare Avantis International Equity ETF (AVDE) and Avantis International Large Cap Value ETF (AVIV). This page examines their expense ratios, top holdings, dividend yields, and how each fund tracks its respective market segment. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

AVDE

Metric

AVIV

0.23%

Expense Ratio

0.25%

2.74%

Dividend Yield

2.77%

$19.06B

Net Assets

$2.08B

3,336

Holdings

610

Sep 24, 2019

Inception Date

Sep 28, 2021

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Index Tracked

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Foreign Large Blend

Fund Category

Foreign Large Value

AVDE costs about $2.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	AVDE	AVIV
ASMLASML Holding N.V.	1.27%	0.91%
SHELShell plc	0.89%	1.97%
BBVABanco Bilbao Vizcaya Argentaria, S.A.	0.63%	2.55%
BHPBHP Group Limited	0.57%	1.33%
BPBP p.l.c.	0.50%	1.23%
TMToyota Motor Corporation	0.45%	0.97%

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Investment Analysis

AVDE

Pros

Assets under management stand at $19.1 billion
Expense ratio of 0.23% supports cost efficiency
Dividend yield of 2.74% offers reasonable income

Considerations

Expense ratio of 0.23% may be higher than ultra-low-cost rivals
Net assets of $19.1 billion limit flexibility relative to smaller funds
Holdings such as ASML at 1.27% indicate limited single-stock exposure

AVIV

Pros

Assets under management stand at $2.1 billion
Expense ratio of 0.25% supports cost efficiency
Dividend yield of 2.77% offers reasonable income

Considerations

Expense ratio of 0.25% may be higher than cheaper passive alternatives
Net assets of $2.1 billion restrict liquidity compared to larger funds
Top holding BBVA at 2.55% indicates concentrated exposure in Spanish banks

About AVDE and AVIV

AVDE (AVDE)

The Avantis International Equity ETF (AVDE) is an exchange-traded fund that aims to provide investors with access to quality companies located outside the United States. With an inception date of September 24, 2019, this fund has grown significantly, managing net assets of USD 19.06 billion. It boasts a broad portfolio of 3,336 holdings, diversified across various regions. Operating with a competitive expense ratio of 0.23%, AVDE is categorised as a Foreign Large Blend fund. Currently, it offers a dividend yield of 2.74%, appealing to investors seeking international diversification and potential income. The fund's strategy focuses on identifying companies with strong fundamentals, offering exposure to global markets beyond the US.

AVIV (AVIV)

The Avantis International Large Cap Value ETF (AVIV) is an exchange-traded fund designed to provide investors with exposure to international large-cap companies that exhibit value characteristics. Managed by American Century Investments, this fund aims to deliver long-term capital appreciation by investing in a diversified portfolio of approximately 610 holdings. With a modest expense ratio of 0.25%, AVIV offers a cost-effective way to access foreign value stocks. The fund currently reports a net asset value of USD 2.08 billion and provides a dividend yield of 2.77%, making it an attractive option for income-focused investors seeking diversification beyond domestic markets. Investors should note that like all equities, the value of this fund can fluctuate, and past performance does not guarantee future results.

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AVDE vs AVIV

Fund Snapshot