AAVM vs AVGE

AAVMBAlpha Architect Global Factor Equity ETF

AVGEAAvantis All Equity Markets ETF

In short

AAVM Four Alpha Architect quant sleeves in one ticker: the cheapest stocks and the strongest-momentum stocks, US and developed international. Active global factor exposure at 0.38% a year.

AVGE Avantis's whole-world equity portfolio in one ticker: a fund built from its own factor ETFs across US, developed and emerging markets, tilted toward smaller and cheaper stocks, at 0.23% a year with no waiver involved.

Stated mandate

AAVM The Fund seeks long-term capital appreciation.

AVGE The fund seeks long-term capital appreciation through a broadly diversified equity portfolio. It invests directly or through Avantis ETFs and emphasizes companies expected to offer higher returns or better risk characteristics than a passive, market-cap-weighted index.

Why people hold it

• AAVM Charges 0.38% a year, below the typical fee among actively managed global equity funds in its peer group.
• A fund-of-funds wrapper: US value, US momentum, international value and international momentum, bought in one trade instead of four.alphaarchitect.comsec.gov
• Targets the cheap end and the momentum leaders of developed markets rather than a watered-down tilt, and rebalances often to keep that exposure on.alphaarchitect.com
• Trading since 2017, so the strategy has a live record, and it sits in the upper half of its active global equity cohort.

• AVGE One ticker, the whole map: it owns a series of other Avantis ETFs spanning US, developed international and emerging markets.avantisinvestors.com
• 0.23% a year, below the typical global active equity fund, and that is the real number, not a temporary waiver.
• No closet indexing. The mandate emphasizes companies Avantis expects to offer higher returns or better risk traits than a passive, cap-weighted index.ifa.com
• Sits among the strongest implementations in its global active equity peer group, and it pays shareholders quarterly.

Worth knowing

• AAVM Small fund, thin volume. Spreads can be wide, so patient limit orders matter more here than with a mega-cap index fund.
• Concentrated by design: the sleeves hold a short list of names, so returns can diverge sharply from a global index in either direction.sec.gov
• Cash comes once or twice a year, not monthly. The mandate is long-term capital appreciation, not an income stream.

• AVGE At the fund level you hold a handful of Avantis ETFs, so the stock-level diversification is look-through and one firm's research drives the entire stack.avantisinvestors.com
• The prospectus targets roughly 70% US equity (band 63% to 77%), so the geographic mix follows Avantis's policy rather than global market weights.ifa.com
• A close sibling, AVTM, covers total equity markets at 0.22% with no waiver attached.

Full AAVM profile⁠

Full AVGE profile⁠