AAVM vs BDVL

AAVMBAlpha Architect Global Factor Equity ETF

BDVLAiShares Disciplined Volatility Equity Active 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.

BDVL A global low-volatility fund with an active engine: a quant model picks roughly 500 stocks on low vol, quality and value, scored against MSCI's ACWI Minimum Volatility Index. Fee: 0.39% net of a waiver through June 30, 2028.

Stated mandate

AAVM The Fund seeks long-term capital appreciation.

BDVL The Fund seeks risk-adjusted total return through active management of equity exposure, with a focus on managing volatility relative to the broad equity market.

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.

• BDVL Costs 0.39% net of a waiver through June 30, 2028, below the median fee among global active equity peers and under sibling fund BFLX at 0.40%.
• Roughly 500 holdings worldwide, so no single stock runs the show. Its holdings build and risk profile rank among the strongest in its peer group.
• Built to hold core equity exposure while leaning toward stocks that have shown smaller price swings than the broad market.ishares.com
• Trading since 2017, a long life for an active equity ETF, and it has gathered billions from investors along the way.

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.

• BDVL A model, not an index, picks the names. Active discretion cuts both ways against the MSCI minimum-volatility benchmark it is measured by.
• The low-vol tilt means lighter exposure to the market's most volatile high-flyers, which shapes how it behaves when those names run.
• Cheaper active options sit in the same category: AVTM at 0.22% and AVGE at 0.23% deliver broad global equity without the volatility focus.

Full AAVM profile⁠

Full BDVL profile⁠