APIE vs AVDE: Grades, Fees and Holdings Compared

ActivePassive International Equity ETF

APIEBNYSE Arca

Avantis International Equity ETF

AVDEANYSE Arca

Overlap

11.2%by weight

Expense ratio

AVDE −0.22pt a year

APIE0.45%AVDE0.23%

Avg volume · 30D

AVDE 14.5×the volume

APIE72.6KAVDE1.06M

3Y return · a year

AVDE +2.4pt

APIE+19.6%AVDE+22.0%

APIE vs AVDE Performance

Oct 31, 2025 – Oct 30, 2026

+8.8%APIE+15.6%AVDE

Expense ratio: APIE 0.45%; AVDE 0.23%, better
Fund size: APIE $1.12B; AVDE $19.4B
1Y total return: APIE +8.8%; AVDE +15.6%, better
Yield (12M): APIE 3.49%, better; AVDE 2.84%
Holdings: APIE 551; AVDE 3394
Avg volume (30D): APIE 72.6K sh; AVDE 1.06M sh, better
NAV per share: APIE $37.71; AVDE $89.03
52W range

ETF.net Grade

Pillar letters and Scores for APIE, AVDE, with each pillar’s weight
Pillar	APIE	AVDE
Cost30% weight	A74	A96Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C42	B63Higher
Tradability15% weight	A76	A92Higher
Holdings10% weight	B62	A90Higher
Durability5% weight	A75	A89Higher

Rank among International Active Equity funds

How we build Categories ›

Same Category. APIE and AVDE are both graded against the same 55 International Active Equity funds, so their Grades compare head to head.

International Active Equity⁠

Category · 55 funds

See all 55 ›

AVDE ranks 1st and APIE 13th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 10BSEIESEI Select International Equity ETFScore 67
Rank 13BAPIEActivePassive International Equity ETFScore 66
Rank 13BILOWAB International Low Volatility Equity ETFScore 66

Our read on each fund

ETF.net Research

APIEBActivePassive International Equity ETF

AVDEAAvantis International Equity ETF

In short

APIE The name is the whole pitch. APIE anchors developed-markets-ex-US exposure to an American depositary receipt index, then blends active judgment over that passive core, at a price under the typical active international fund.

AVDE Active management at almost-index prices: Avantis runs roughly 3,300 developed-market stocks outside the US without tracking a benchmark, for 0.23% a year. One of the strongest implementations in its active international peer group.

Stated mandate

APIE The fund seeks long-term capital appreciation.

AVDE Invests in a broad range of stocks of all sizes across non-U.S. developed countries, with active portfolio management rather than replication of a specified index.

Why people hold it

APIE Charges 0.45%, below the roughly 0.60% median for active international equity funds. Not the cheapest shelf in the aisle, but the fee works in the shareholder's favor versus the typical rival.
Its reference index is the ADR version of developed markets outside the US, so the building blocks are US-listed depositary receipts rather than shares bought on local exchanges.
Explicitly a hybrid: an index-referenced core with active decision-making layered on, per the fund's own filings. One ticker instead of pairing a cheap tracker with a stock-picker.
Several hundred million dollars in assets, moderate steady volume, and a spot in the upper half of a peer group of more than 50 international active-equity funds.

AVDE 0.23% a year, well under half the typical fee in its active international peer group. Active management usually costs more than this.
Index-like breadth without an index: about 3,300 stocks of all sizes across non-US developed countries, chosen by managers rather than copied from a benchmark.avantisinvestors.com
A multi-billion-dollar fund that trades actively, so getting in and out tends to be cheap and easy. It pays out quarterly.
Sits at the top of a crowded field alongside rivals like DFIC and JIRE, priced within a basis point or two of both.

Worth knowing

APIE Cheaper systematic competitors are right there: AVDE, DFIC and JIRE all list fees near 0.22% to 0.24%, roughly half of APIE's 0.45%.
An ADR-built index reaches only foreign companies that carry US-listed depositary receipts, a narrower field than a full developed-markets benchmark.
Launched in 2023, so its record is short next to the international funds that have been grinding through cycles for decades.

AVDE Developed markets only. Emerging markets are a separate purchase if you want them.
No index to grade the manager against, so results come down to Avantis's own portfolio calls rather than a published benchmark.
It is all-equity and all-foreign: stock market swings plus currency moves both show up in the price.

Full APIE profile⁠

Full AVDE profile⁠

APIE vs AVDE Holdings

How APIE and AVDE differ

Overlap by weight

11.2%

Shared holdings make up 17.9% of APIE and 12.0% of AVDE.

Level by level

Holdings48 in both11.2%
Countryby domicile64.9%
Sector11 Sectors76.4%
Asset classEquity100%

Sector

Sector weights in APIE and AVDE, widest gap first
Sector	More in APIEMore in AVDE	APIE	AVDE
Technology	APIE +15.6 points	23.5%	7.9%
Materials	AVDE +5.6 points	4.9%	10.5%
Industrials	AVDE +5.4 points	13.8%	19.2%
Financials	AVDE +5.3 points	20.5%	25.8%
Energy	AVDE +4.4 points	3.2%	7.6%
Health Care	APIE +3.2 points	9.0%	5.8%
Communication	APIE +3.1 points	7.2%	4.1%
Consumer Staples	APIE +1.7 points	6.6%	4.9%
Utilities	AVDE +1.4 points	2.3%	3.7%
Real Estate	AVDE +0.8 points	0.5%	1.3%
Consumer Discretionary	AVDE +0.6 points	8.6%	9.2%

Country, concentration and asset class

Country by domicile

Country weights in APIE and AVDE, widest gap first
Country	More in APIEMore in AVDE	APIE	AVDE
Taiwan	APIE +13.3 points	13.3%	0.0%
Canada	AVDE +12.1 points	0.2%	12.3%
Japan	AVDE +8.8 points	13.9%	22.7%
China	APIE +8.7 points	8.9%	0.2%
Australia	AVDE +4.0 points	2.3%	6.3%
Switzerland	AVDE +2.5 points	5.8%	8.3%
Brazil	APIE +2.4 points	2.4%	0.0%
United Kingdom	APIE +1.8 points	14.0%	12.2%
Other countries (31)	APIE +1.2 points	39.2%	38.0%

Outside the US: APIE 68% developed, 32% emerging. AVDE 98% developed, 2% emerging.

Concentration

Weight in the 10 largest Holdings

APIE23.3%
AVDE7.5%

Securities held

APIE550
AVDE3,378

Asset class

APIE: Equity
AVDE: Equity

Holdings

Only in APIE502
In both48
Only in AVDE3,330

Only in APIE

502 securities, 82.0% of APIE by weight

Taiwan Semiconductor Manufacturing Co Ltd11.71%
Tencent Holdings Ltd2.22%
Alibaba Group Holding Ltd1.41%
Sap SE1.23%
AstraZeneca PLC1.21%
Roche Holding AG1.17%
Siemens AG0.88%
First American Government Obligations Fund 12/01/20310.74%
Nestle SA0.73%
Recruit Holdings Co Ltd0.73%
Rolls-Royce Holdings PLC0.72%
Allianz SE0.69%
China Construction Bank Corp0.68%
Deutsche Telekom AG0.61%
British American Tobacco PLC0.59%
LVMH Moet Hennessy Louis Vuitton SE0.57%
AIA Group Ltd0.57%
Reckitt Benckiser Group PLC0.54%
L'Oreal SA0.53%
Hdfc Bank Ltd - Adr0.53%
Iberdrola SA0.52%
BNP Paribas SA0.51%
ASE Technology Holding Co Ltd0.48%
Air Liquide SA0.47%
Commonwealth Bank of Australia0.45%
ABB Ltd0.45%
Assa Abloy AB0.45%
UniCredit SpA0.45%
Hexagon AB0.44%
Enel SpA0.44%
DBS Group Holdings Ltd0.43%
Kering SA0.43%
Advantest Corp0.42%
London Stock Exchange Group PLC0.41%
Argenx SE0.40%
Societe Generale SA0.39%
Cie de Saint-Gobain SA0.39%
Deutsche Bank AG0.39%
Hitachi Ltd0.38%
Airbus SE0.38%
Renesas Electronics Corp0.38%
Tokyo Electron Ltd0.38%
Zurich Insurance Group AG0.38%
Schneider Electric SE0.38%
Shinhan Financial Group Co Ltd0.37%
Tesco PLC0.36%
InterContinental Hotels Group PLC0.36%
Petroleo Brasileiro SA - Petrobras0.36%
KDDI Corp0.35%
PDD Holdings Inc0.35%

Only in AVDE

3,330 securities, 88.2% of AVDE by weight

Roche Holding AG Common Stock CHF.0011.05%
Nestle SA Reg Common Stock CHF.10.65%
Ubs Group AG Reg Common Stock USD.10.57%
Allianz SE Reg Common Stock0.56%
Zurich Insurance Group AG Common Stock CHF.10.50%
Canadian Natural Resources Common Stock0.47%
Advantest Corp Common Stock0.46%
Suncor Energy Inc Common Stock0.46%
Totalenergies SE Common Stock0.45%
Royal Bank of Canada Common Stock0.45%
Toronto Dominion Bank Common Stock0.45%
Safran SA Common Stock EUR.20.43%
Rolls Royce Holdings PLC Common Stock GBP.20.42%
Astrazeneca PLC Common Stock0.40%
Deutsche Telekom AG Reg Common Stock0.40%
Bnp Paribas Common Stock EUR2.00.37%
Softbank Group Corp Common Stock0.36%
Repsol SA Common Stock EUR1.00.35%
Iberdrola SA Common Stock EUR.750.34%
Standard Chartered PLC Common Stock USD.50.34%
Agnico Eagle Mines Ltd Common Stock0.33%
Cenovus Energy Inc Common Stock0.33%
Vinci SA Common Stock EUR2.50.33%
Rwe AG Common Stock0.33%
Oversea Chinese Banking Corp Common Stock0.33%
Bank of Montreal Common Stock0.32%
Can Imperial Bk of Commerce Common Stock0.31%
Axa SA Common Stock EUR2.290.30%
Schneider Electric SE Common Stock EUR4.00.30%
Unicredit Spa Common Stock0.30%
Celestica Inc Common Stock0.29%
Bank of Nova Scotia Common Stock0.29%
Hitachi Ltd Common Stock0.29%
Dbs Group Holdings Ltd Common Stock0.29%
Recruit Holdings Co Ltd Common Stock0.28%
Muenchener Rueckver AG Reg Common Stock0.28%
Sap SE Sponsored Adr Adr0.28%
National Bank of Canada Common Stock0.27%
Lloyds Banking Group PLC Adr Adr0.27%
Swiss Re AG Common Stock USD.120.27%
Commonwealth Bank of Austral Common Stock0.27%
Fujikura Ltd Common Stock0.27%
Societe Generale SA Common Stock EUR1.250.27%
Lonza Group AG Reg Common Stock CHF1.00.26%
Tesco PLC Common Stock GBP.06333330.26%
Tokio Marine Holdings Inc Common Stock0.26%
Westpac Banking Corp Common Stock0.26%
Dhl AG Common Stock0.25%
Cie Financiere Richemo A Reg Common Stock CHF1.00.25%
Koninklijke Ahold Delhaize N Common Stock EUR.010.25%

Weight gaps

All 48 Holdings in both funds, largest gap first.

Holding weights in APIE and AVDE, widest gap first
Holding	More in APIEMore in AVDE	APIE	AVDE
Unilever PLCUL	APIE +0.55 points	0.76%	0.21%
Novo Nordisk A/SNVO	APIE +0.49 points	0.78%	0.29%
Relx PLCRELX	APIE +0.43 points	0.62%	0.19%
Diageo PLCDEO	APIE +0.42 points	0.61%	0.19%
ASML Holding NVASML	APIE +0.36 points	1.68%	1.32%
Novartis AGNVS	APIE +0.34 points	0.84%	0.50%
National Grid PLCNGG	APIE +0.34 points	0.52%	0.18%
Anheuser-Busch InBev SA/NVBUD	APIE +0.28 points	0.35%	0.07%
Mitsubishi UFJ Financial Group IncMUFG	APIE +0.26 points	0.70%	0.44%
Koninklijke Philips N.v.PHG	APIE +0.24 points	0.28%	0.04%
Sea LtdSE	APIE +0.23 points	0.26%	0.03%
Prudential PLCPUK	APIE +0.22 points	0.29%	0.07%
Takeda Pharmaceutical Co LtdTAK	APIE +0.22 points	0.28%	0.06%
Barclays PLCBCS	APIE +0.22 points	0.55%	0.33%
Banco Bilbao Vizcaya Argentaria SABBVA	AVDE +0.21 points	0.38%	0.59%
Toyota Motor CorpTM	APIE +0.20 points	0.66%	0.46%
Smith & Nephew PLCSNN	APIE +0.17 points	0.21%	0.04%
HSBC Holdings PLCHSBC	APIE +0.17 points	0.85%	0.68%
Bp PLCBP	AVDE +0.16 points	0.40%	0.56%
Pearson PLCPSO	APIE +0.15 points	0.16%	<0.01%
Sony Group CorpSONY	APIE +0.16 points	0.42%	0.26%
ArcelorMittal SAMT	AVDE +0.15 points	0.08%	0.23%
Sumitomo Mitsui Financial Group IncSMFG	APIE +0.15 points	0.51%	0.36%
Haleon PLCHLN	APIE +0.15 points	0.19%	0.04%
Woodside Energy Group LtdWDS	APIE +0.14 points	0.15%	<0.01%
Banco Santander SASAN	APIE +0.14 points	0.47%	0.33%
NatWest Group PLCNWG	APIE +0.09 points	0.40%	0.31%
Vodafone Group PLCVOD	AVDE +0.09 points	0.15%	0.24%
Nokia OyjNOK	APIE +0.07 points	0.15%	0.08%
Tenaris SATS	APIE +0.06 points	0.08%	0.02%
Equinor ASAEQNR	APIE +0.06 points	0.18%	0.12%
Fresenius Medical Care AGFMS	APIE +0.05 points	0.06%	<0.01%
Mizuho Financial Group IncMFG	APIE +0.05 points	0.34%	0.29%
ING Groep NVING	APIE +0.05 points	0.49%	0.44%
Gsk PLCGSK	AVDE +0.05 points	0.31%	0.36%
Shell PLCSHEL	AVDE +0.04 points	0.96%	1.00%
Nice LtdNICE	APIE +0.04 points	0.04%	<0.01%
Rio Tinto PLCRIO	APIE +0.03 points	0.31%	0.28%
STMicroelectronics NVSTM	AVDE +0.04 points	0.07%	0.11%
ORIX CorpIX	APIE +0.04 points	0.21%	0.17%
BHP Group LtdBHP	APIE +0.02 points	0.58%	0.56%
Telefonaktiebolaget LM EricssonERIC	APIE +0.02 points	0.15%	0.13%
Honda Motor Co LtdHMC	AVDE +0.02 points	0.16%	0.18%
Aegon LtdAEG	APIE +0.02 points	0.08%	0.06%
Melco Resorts & Entertainment LtdMLCO	APIE +0.01 points	0.01%	<0.01%
Futu Holdings LtdFUTU	APIE +0.02 points	0.02%	<0.01%
Genmab A/SGMAB	AVDE +0.01 points	0.14%	0.15%
Wpp PLCWPP	APIE +0.01 points	0.02%	<0.01%

All APIE holdings⁠All 3,342 AVDE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

APIE vs AVDE Cost

Overpaying APIE vs AVDE

$4,282

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

APIE 0.45%
$9,041
AVDE 0.23%
$4,759

Amount$10,000

Years30 years

Cost over time

APIE 0.45%
AVDE 0.23%
Overpaying

Year by year

Year	APIE	AVDE	Overpaying
10	$812	$419	$393
20	$3,128	$1,630	$1,498
30	$9,041	$4,759	$4,282

Expense ratio

0.45%APIE
0.23%AVDE, cheaper

AVDE0.23%APIE0.45%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDE 3rd cheapest of 55 funds

APIE 15th cheapest of 55 funds

APIE vs AVDE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): APIE 3.49%, better; AVDE 2.84%
Payout (12M): APIE $1.32; AVDE $2.53
Last payment: APIE $1.32; AVDE $0.33
Ex-dividend: APIE Dec 23, 2025; AVDE Sep 8, 2026
Paid on: APIE Dec 24, 2025; AVDE Sep 10, 2026
Frequency: APIE Annual; AVDE Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

APIEAnnual · 3 paymentsAll APIE payments⁠

AVDEQuarterly · 16 paymentsAll AVDE payments⁠

APIE vs AVDE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: APIE 11.5%, betterAVDE 12.1%
Return per unit of riskSharpe ratio, 3 years: APIE 1.23AVDE 1.35, better
Worst fallMax drawdown, 5 years: APIE −15.9%since May 2023AVDE −28.7%
Market sensitivityBeta, 5 years: APIE 0.82AVDE 0.88; Market = 1

APIE and AVDE in the news

All news⁠

New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026AVDE
ETF Filings
Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank
Sep 18, 2026AVDE
ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026AVDE
New ETFs
PGIM lists two more Jennison core ETFs after a May launch that still holds $7 million
Sep 8, 2026AVDE
ETF Filings
American Century files a mutual-fund wrapper for Avantis international large-cap value
Sep 7, 2026AVDE

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APIE vs AVDE

In short

Stated mandate

Why people hold it