AVSC vs SPY
Avantis US Small Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AVSC or SPY?
Small Cap Value against Large Cap Blend.
SPY has a lower expense ratio. AVSC led over 1Y, SPY over 3Y, 5Y and the full window. AVSC is less concentrated, with 3.5% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AVSC | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $3.1B | $804.7B |
| Dividend Yield | 0.93% | 0.98% |
| Holdings | 1,522 | 505 |
| YTD Return | +20.24%Best | +12.09% |
| 1Y Return | +21.70%Best | +16.29% |
| 3Y Return (annualized) | +17.80% | +21.20%Best |
| 5Y Return (annualized) | +9.11% | +13.37%Best |
| Volatility (annualized) | 21.2% | 15.2%Best |
| Max Drawdown | -28.4%Best | -34.1% |
| $10,000 over 5 years | $15,464 | $18,728Best |
| Top 10 Weight | 3.5%Best | 37.8% |
| Fund Family | Avantis Investors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Jan 11, 2022 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2016 to Sep 18, 2026 (10.3 years).
AVSC vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 10.3 years both funds cover.
AVSC vs SPY Performance
Avantis US Small Cap Equity ETF (AVSC) is an ETF from Avantis Investors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AVSC returned +21.70% while SPY returned +16.29%. Year to date, AVSC is up 20.24% versus a gain of 12.09% for SPY.
Over three years, AVSC compounded at +17.80% per year against +21.20% for SPY; over five years the annualized figures are +9.11% and +13.37% respectively. Across the full 10-year window we track, SPY has the edge at +14.16% annualized vs +5.52%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVSC has been the more volatile fund, with annualized monthly volatility of 21.2% compared with 15.2% 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 -28.4% for AVSC and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVSC charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, AVSC currently yields 0.93% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1,469 holdings in AVSC and 504 in SPY, totalling 98.7% and 99.9% of the two funds. That is not enough of SPY to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
The two holdings books were reported 63 days apart, AVSC as of Jun 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 1,469 positions we hold weights for in AVSC and 504 in SPY, against full books of 1,522 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for AVSC (99.3% of the fund), and 1,192 for AVSC that do not appear in SPY (95.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AVSC | Weight in SPY | Difference |
|---|---|---|---|
| AOSAo Smith Corp. | 0.01% | 0.01% | 0.00% |
You are not choosing between two funds in isolation.
Whichever of AVSC and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AVSC or SPY?
AVSC has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, AVSC or SPY?
Over the past year AVSC returned +21.70% vs +16.29% for SPY, so AVSC leads on 1-year performance. Over the longest common window we track (10 years), AVSC annualized +5.52% vs +14.16% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AVSC or SPY?
AVSC has been the more volatile fund at 21.2% annualized versus 15.2% for SPY. Worst drawdown: AVSC -28.4% vs SPY -34.1%.
Should I hold both AVSC and SPY?
AVSC and SPY have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, AVSC or SPY?
AVSC yields 0.93% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than AVSC?
SPY has a lower expense ratio. AVSC led over 1Y, SPY over 3Y, 5Y and the full window. AVSC is less concentrated, with 3.5% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.