AVES vs SPY
Avantis Emerging Markets Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. AVES offers more diversification with 1,887 holdings.
Side-by-Side Comparison
| Metric | AVES | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.09% | |
| AUM | $1.5B | $821.1B | |
| Dividend Yield | 2.60% | 1.01% | |
| Holdings | 1,887 | 505 | |
| YTD Return | +11.68% | +14.24% | |
| 1Y Return | +21.16% | +21.71% | |
| 3Y Return (annualized) | +19.09% | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 16.5% | 15.3% | |
| Max Drawdown | -27.4% | -56.5% | |
| Fund Family | Avantis Investors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 29, 2021 | Jan 22, 1993 |
AVES vs SPY Performance
Avantis Emerging Markets Value ETF (AVES) is a ETF from Avantis Investors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AVES returned +21.16% while SPY returned +21.71%. Year to date, AVES is up 11.68% versus a gain of 14.24% for SPY.
Over three years, AVES compounded at +19.09% per year against +22.10% for SPY. Across the full 5-year window we track, AVES has the edge at +9.20% annualized vs +8.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVES has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -27.4% for AVES and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AVES charges 0.36% per year while SPY charges 0.09%. On a $10,000 position that is $36 vs $9 annually, a gap of $27 per year that compounds over a long holding period. On income, AVES currently yields 2.60% against 1.01% for SPY.
Holdings Overlap
AVES and SPY share 1 holdings out of 1695 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AVES | Weight in SPY | Difference |
|---|---|---|---|
| RCL | 0.01% | 0.12% | 0.11% |
Frequently Asked Questions
Which is cheaper, AVES or SPY?
AVES has an expense ratio of 0.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, AVES or SPY?
Over the past year AVES returned +21.16% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), AVES annualized +9.20% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, AVES or SPY?
AVES has been the more volatile fund at 16.5% annualized versus 15.3% for SPY. Worst drawdown: AVES -27.4% vs SPY -56.5%.
Should I hold both AVES and SPY?
AVES and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVES and SPY?
AVES and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1695 unique securities.
Which pays a higher dividend, AVES or SPY?
AVES yields 2.60% while SPY yields 1.01%, so AVES currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.