What are the key differences between AVDV and AVES?

AVDV targets international small-cap value, while AVES focuses on emerging markets value. Both funds have an expense ratio of 0.36%, but their investment strategies and underlying markets differ significantly. AVDV tracks foreign small-cap value, providing access to developed international markets, whereas AVES targets emerging markets, offering exposure to high-growth economies.

How do the expense ratios of AVDV and AVES compare?

Both AVDV and AVES charge an expense ratio of 0.36%. This cost is moderate for value strategies but higher than many broad market alternatives. For example, if you invest £10,000, the annual fee would be £36 for either fund. The cost may vary over time based on performance and market conditions.

What does the dividend yield indicate for AVDV and AVES?

AVDV has a dividend yield of 3.07%, while AVES offers a slightly higher yield of 3.37%. These yields represent annual income relative to the fund’s price. However, dividend yields can fluctuate based on market performance and company payouts, so investors should monitor these changes over time.

How do the top holdings of AVDV and AVES differ?

AVDV’s top holdings include CDE at 0.60%, SSRM at 0.47%, and ZIM at 0.43%, while AVES includes ASX at 1.50%, SHG at 0.98%, and VALE at 0.84%. This indicates that AVES has higher concentration in its top holdings. No shared top-10 holdings are listed between the two funds.

What markets do AVDV and AVES target?

AVDV targets international small-cap value, focusing on developed foreign markets. In contrast, AVES focuses on emerging markets, offering exposure to high-growth economies in regions such as Asia, Latin America, and Eastern Europe. The geographic and market capitalisation differences make each fund suitable for distinct investment strategies.

How does the liquidity of AVDV compare to AVES?

AVDV has net assets of £20.5 billion, providing excellent liquidity and trading volume. AVES, with £1.6 billion in net assets, still indicates sufficient liquidity for standard trading. Higher net assets generally make it easier to buy or sell shares without impacting the fund’s price significantly.

Are there transparency concerns with AVDV and AVES?

For both AVDV and AVES, the index tracked is not available, which may limit transparency into their underlying benchmark methodologies. Additionally, AVES’s issuer is listed as ARK, raising data reliability concerns. Investors should research further to understand these limitations and how they might impact the funds' performance.

What is the potential impact of concentration in top holdings?

AVES has a higher concentration in its top holdings, with ASX making up 1.50%, compared to AVDV's maximum of 0.60%. A high concentration in top holdings can mean greater risk if those companies perform poorly. It also means AVES is less diversified than AVDV, which has a more even distribution.

What are the main strategies behind AVDV and AVES?

AVDV follows a strategy targeting international small-cap value, seeking undervalued companies in developed foreign markets. AVES follows an emerging markets value strategy, aiming to identify undervalued companies in high-growth economies. Both strategies focus on value investing but differ significantly in their geographic and market capitalisation focus.

Which fund is better for a specific investing goal?

The choice depends on the investor's goals. For diversification into developed international markets, AVDV may be more suitable due to its focus on small-cap value. For exposure to high-growth emerging markets, AVES might be preferable. Both funds have a 0.36% expense ratio, so fees are not a significant differentiator.

AVDV vs AVES

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

Compare Avantis International Small Cap Valuation (AVDV) and Avantis Emerging Markets Value ETF (AVES) to assess fees, holdings, and dividend yields. Both ETFs charge a 0.36% expense ratio, but AVDV targets foreign small-cap value while AVES focuses on emerging markets. This page highlights how each fund tracks its specific market segment. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

AVDV

Metric

AVES

0.36%

Expense Ratio

0.36%

3.07%

Dividend Yield

3.37%

$20.46B

Net Assets

$1.56B

1,745

Holdings

1,991

Sep 24, 2019

Inception Date

Sep 28, 2021

–

Index Tracked

–

Foreign Small/Mid Value

Fund Category

Diversified Emerging Mkts

Both funds charge the same annual fee.

Shared Top Holdings

These funds do not share any of their top holdings.

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Investment Analysis

AVDV

Pros

Net assets of twenty point five billion dollars provide excellent liquidity and trading volume.
Dividend yield of three point zero seven per cent offers steady income generation.
Focus on international small cap valuation provides targeted exposure to specific market segment.

Considerations

Expense ratio of zero point three six per cent is higher than many broad market alternatives.
Index tracked data is not available, limiting transparency into the underlying benchmark methodology.
Top holdings are relatively low concentration, with the largest at zero point six zero per cent.

AVES

Pros

Dividend yield of three point three seven per cent provides attractive income for investors.
Focus on emerging markets value offers distinct exposure separate from developed small caps.
Net assets of one point six billion dollars indicate sufficient liquidity for standard trading.

Considerations

Expense ratio of zero point three six per cent represents a moderate cost for value strategy.
Issuer listed as ARK appears inconsistent with the Avantis fund name, raising data reliability concerns.
Index tracked data is not available, obscuring the specific benchmark being followed.

About AVDV and AVES

AVDV (AVDV)

The Avantis International Small Cap Valuation ETF is an exchange-traded fund designed for investors looking to access small-cap companies located outside the United States. Launched in September 2019, this fund falls within the Foreign Small/Mid Value category and currently holds a substantial net asset value of approximately USD 20.46 billion. It maintains a diversified portfolio of 1,745 holdings, offering broad exposure to the international small-cap value sector. Investors should be aware that the fund operates with an expense ratio of 0.36% and currently provides a dividend yield of 3.07%. As with any investment focused on smaller companies and international markets, value can fluctuate based on market conditions and economic factors. This ETF is intended for those seeking diversification beyond domestic markets, though returns are not guaranteed and capital is at risk.

AVES (AVES)

The Avantis Emerging Markets Value ETF (AVES) is an exchange-traded fund designed to provide investors with exposure to value-oriented companies within emerging markets. Managed by American Century, this fund seeks to capitalise on the long-term potential of developing economies by focusing on firms that appear undervalued relative to their fundamentals. With an expense ratio of 0.36%, it offers a cost-effective way to access a diverse portfolio of nearly 2,000 holdings. The fund currently holds net assets of USD 1.56 billion and offers a dividend yield of 3.37%, making it an attractive option for those looking to balance growth potential with income generation in the volatile emerging markets sector. Investors should note that emerging market investments carry higher risks, including currency fluctuations and geopolitical uncertainties, and values can rise and fall.

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AVDV vs AVES

Fund Snapshot