ASCE vs AVMC

ASCEBAllspring SMID Core ETF

AVMCAAvantis U.S. Mid Cap Equity ETF

In short

ASCE Active stock picking aimed at the part of the US market most active core ETFs skip: small and mid caps. Allspring launched it in 2025 with a plain mandate (US equities, long-term capital appreciation) and a fee under half a percent.

AVMC The forgotten middle of the US market, run the Avantis way: roughly 600 mid-cap names tilted toward cheaper stocks with stronger profits, at 0.18% a year. Systematic active management priced like an index fund.

Stated mandate

ASCE The Fund seeks long-term capital appreciation.

AVMC Seeks long-term capital appreciation through a broad portfolio of U.S. mid-cap companies, emphasizing securities with lower valuations and higher profitability ratios.

Why people hold it

• ASCE 0.38% a year, well below the 0.65% median for active US equity ETFs. Active management without the traditional active markup.
• The SMID mandate is the separator. The top-scoring active US equity ETFs (DFAU, DFAC, AVLC, FELC) are large-cap and total-market builds; this one works the smaller end.
• No riddle to decode: the prospectus mandate is US companies, equity securities, long-term capital appreciation. What you see is what the manager is hunting.
• Despite the short life, it already stands in the upper tier of the active US equity ETF field on our overall read of cost, holdings and tradability.

• AVMC 0.18% a year, against a 0.65% median for active US equity funds. Index-fund pricing on an active mandate.
• Spreads the value-and-profitability tilt across roughly 600 mid-caps, so it leans on the screen rather than a handful of concentrated picks.avantisinvestors.com
• One of the strongest implementations in our active US equity group, sitting with large-cap sibling AVLC and the Dimensional core funds.
• Pure mid-cap exposure with a quarterly distribution, filling the gap most portfolios leave between mega-caps and small caps.

Worth knowing

• ASCE It opened in July 2025, so there is barely a track record to judge. Any risk read here rests on a thin slice of history.
• Small asset base and moderate turnover mean spreads can be wider than on mega-funds, and trading costs weigh more on small orders.
• Distributions come once or twice a year. This is built for capital appreciation, not a paycheck.

• AVMC Trades lighter than the giant index ETFs, which can mean wider bid-ask spreads at the moment you transact.
• Launched in 2023, so the live record is short. There's no published index behind it either: outcomes come from Avantis' own valuation and profitability rules.
• All mid-cap, no mega-cap ballast, plus a tilt away from expensive names. Both can put it out of step with a market led by the largest growth stocks.

Full ASCE profile⁠

Full AVMC profile⁠