AVDE vs ENHI: Grades, Fees and Holdings Compared

Avantis International Equity ETF

AVDEANYSE Arca

iShares Enhanced International Active ETF

ENHIANasdaq

Overlap

38.5%by weight

Expense ratio

AVDE −0.04pt a year

AVDE0.23%ENHI0.27%

Avg volume · 30D

AVDE 172.5×the volume

AVDE1.06MENHI6.12K

AVDE vs ENHI Performance

Jul 31, 2026 – Oct 30, 2026

−2.0%AVDE−2.4%ENHI

Expense ratio: AVDE 0.23%, better; ENHI 0.27%
Fund size: AVDE $19.4B; ENHI $21M
1Y total return: AVDE +15.6%; ENHI No data
Yield (12M): AVDE 2.84%; ENHI No data
Holdings: AVDE 3394; ENHI 594
Avg volume (30D): AVDE 1.06M sh, better; ENHI 6.12K sh
NAV per share: AVDE $89.03; ENHI $26.49
52W range

ETF.net Grade

Pillar letters and Scores for AVDE, ENHI, with each pillar’s weight
Pillar	AVDE	ENHI
Cost30% weight	A96Higher	A94
Mission25% weight	Not scored	Not scored
Risk15% weight	B63	A72Higher
Tradability15% weight	A92Higher	C51
Holdings10% weight	A90Higher	A82
Durability5% weight	A89Higher	C46

Rank among International Active Equity funds

How we build Categories ›

Same Category. AVDE and ENHI 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 ENHI 5th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 4AAVDSAvantis International Small Cap Equity ETFScore 78
Rank 5AENHIiShares Enhanced International Active ETFScore 76
Rank 5ATACNT. Rowe Price Active Core International Equity ETFScore 76

Our read on each fund

ETF.net Research

AVDEAAvantis International Equity ETF

ENHIAiShares Enhanced International Active ETF

In short

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.

ENHI BlackRock's systematic desk pointed at developed international stocks: roughly 600 names selected by models, benchmarked to MSCI EAFE, at 0.27% a year. Index-fund pricing, active ambitions.

Stated mandate

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.

ENHI The fund seeks to outperform the MSCI EAFE Index.

Why people hold it

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.

ENHI 0.27% a year is less than half the typical active international fund, and right in the neighborhood of systematic rivals AVDE (0.23%) and JIRE (0.24%).
Rules and data do the picking, not hunch. Roughly 600 developed-market holdings means it behaves like a core EAFE-shaped allocation rather than a concentrated bet.blackrock.com
The mandate is explicit: outperform the MSCI EAFE Index. No style drift to guess at, and a public yardstick to judge it against.sec.gov
Stands among the stronger implementations in a crowded active international field, on cost and portfolio breadth.

Worth knowing

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.

ENHI Launched in 2026, so the models have a short live record. An active mandate can trail MSCI EAFE as easily as beat it.
New funds start small and lightly traded, which shows up as wider bid-ask spreads until volume builds.
Cash comes back once or twice a year, not monthly.

Full AVDE profile⁠

Full ENHI profile⁠

AVDE vs ENHI Holdings

How AVDE and ENHI differ

Overlap by weight

38.5%

Shared holdings make up 73.4% of ENHI and 46.7% of AVDE.

Level by level

Holdings503 in both38.5%
Countryby domicile83.3%
Asset classEquity100%

Sector

No Sector split for ENHI.

Country, concentration and asset class

Country by domicile

Country weights in AVDE and ENHI, widest gap first
Country	More in AVDEMore in ENHI	AVDE	ENHI
Canada	AVDE +12.3 points	12.3%	0.0%
United Kingdom	ENHI +3.4 points	12.2%	15.6%
France	ENHI +2.9 points	6.7%	9.6%
Japan	ENHI +2.5 points	22.7%	25.2%
Germany	ENHI +1.8 points	7.0%	8.8%
Netherlands	ENHI +1.6 points	4.2%	5.8%
United States	AVDE +1.3 points	1.3%	0.0%
Switzerland	ENHI +1.2 points	8.3%	9.5%
Other countries (20)	ENHI +0.3 points	25.3%	25.6%

Outside the US: AVDE 98% developed, 2% emerging. ENHI 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

AVDE7.5%
ENHI15.5%

Securities held

AVDE3,378
ENHI580

Asset class

AVDE: Equity
ENHI: Equity

Holdings

Only in AVDE2,875
In both503
Only in ENHI77

Only in AVDE

2,875 securities, 53.5% of AVDE by weight

Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.091.32%
Shell PLC Adr Adr1.00%
Hsbc Holdings PLC Spons Adr Adr0.68%
Banco Bilbao Vizcaya Sp Adr Adr0.59%
Bp PLC Spons Adr Adr0.56%
Bhp Group Ltd Spon Adr Adr0.56%
Novartis AG Sponsored Adr Adr0.50%
Canadian Natural Resources Common Stock0.47%
Suncor Energy Inc Common Stock0.46%
Toyota Motor Corp Spon Adr Adr0.46%
Royal Bank of Canada Common Stock0.45%
Toronto Dominion Bank Common Stock0.45%
Mitsubishi Ufj Finl Spon Adr Adr0.44%
Ing Groep N.v. Sponsored Adr Adr0.44%
Sumitomo Mitsui Spons Adr Adr0.36%
Gsk PLC Spon Adr Adr0.36%
Banco Santander SA Spon Adr Adr0.33%
Agnico Eagle Mines Ltd Common Stock0.33%
Barclays PLC Spons Adr Adr0.33%
Cenovus Energy Inc Common Stock0.33%
Bank of Montreal Common Stock0.32%
Natwest Group PLC Spon Adr Adr0.31%
Can Imperial Bk of Commerce Common Stock0.31%
Celestica Inc Common Stock0.29%
Bank of Nova Scotia Common Stock0.29%
Novo Nordisk A/S Spons Adr Adr0.29%
Mizuho Financial Group Adr Adr0.29%
Sap SE Sponsored Adr Adr0.28%
Rio Tinto PLC Spon Adr Adr0.28%
National Bank of Canada Common Stock0.27%
Lloyds Banking Group PLC Adr Adr0.27%
Sony Group Corp Sp Adr Adr0.26%
Eni Spa Sponsored Adr Adr0.24%
Vodafone Group PLC Sp Adr Adr0.24%
Barrick Mining Corp Common Stock0.23%
Arcelormittal Ny Registered Ny Reg Shrs0.23%
Aercap Holdings NV Common Stock EUR.010.23%
Sanofi Adr Adr0.23%
Ia Financial Corp Inc Common Stock0.22%
Manulife Financial Corp Common Stock0.22%
Canadian Natl Railway Co Common Stock0.22%
Unilever PLC Sponsored Adr Adr0.21%
Rheinmetall AG Common Stock0.20%
Diageo PLC Sponsored Adr Adr0.19%
Whitecap Resources Inc Common Stock0.19%
Relx PLC Spon Adr Adr0.19%
Next PLC Common Stock GBP.10.19%
Commerzbank AG Tend Common Stock0.18%
National Grid PLC Sp Adr Adr0.18%
Honda Motor Co Ltd Spons Adr Adr0.18%

Only in ENHI

77 securities, 26.2% of ENHI by weight

Asml Holding2.86%
Hsbc Holdings PLC1.43%
Novartis AG1.43%
Mitsubishi Ufj Financial Group1.27%
Sap1.19%
Bhp Group Ltd0.90%
Sony Group0.87%
Banco Santander0.87%
Toyota Motor0.75%
Sumitomo Mitsui Financial Group0.74%
British American Tobacco0.68%
Unilever PLC0.67%
Banco Bilbao Vizcaya Argentaria0.62%
Novo Nordisk Class B0.61%
Bp PLC0.60%
Glaxosmithkline0.56%
Mizuho Financial Group0.56%
Sanofi SA0.54%
Investor Class B0.47%
Anheuser-Busch Inbev SA0.46%
Rio Tinto0.43%
Ing Groep0.41%
Relx PLC0.40%
National Grid PLC0.39%
Barclays PLC0.36%
Lloyds Banking Group PLC0.34%
Japan Tobacco0.32%
Eni0.32%
Takeda Pharmaceutical0.30%
Glencore PLC0.29%
Natwest Group PLC0.29%
Equinor0.26%
Argenx0.26%
Diageo PLC0.24%
Genmab0.23%
Vodafone Group PLC0.23%
Haleon PLC0.22%
Nokia0.21%
Orix0.17%
Honda Motor0.17%
Ericsson B0.16%
Jardine Matheson Holdings0.16%
Prudential PLC0.16%
Imperial Brands PLC0.15%
Stmicroelectronics0.15%
Commerzbank AG0.14%
Koninklijke Philips0.12%
Nomura Research Institute0.11%
Pearson PLC0.10%
Smith and Nephew PLC0.09%

Weight gaps

The 100 widest of 503 Holdings in both funds.

Holding weights in AVDE and ENHI, widest gap first
Holding	More in AVDEMore in ENHI	AVDE	ENHI
Shell PLC Common Stock EUR.07SHEL.L	ENHI +1.60 points	0.09%	1.69%
Siemens AG Reg Common Stock	ENHI +1.06 points	0.18%	1.24%
Astrazeneca PLC Common StockAZN.L	ENHI +1.06 points	0.40%	1.46%
Commonwealth Bank of Austral Common Stock	ENHI +0.66 points	0.27%	0.93%
Roche Holding AG Common Stock CHF.001	ENHI +0.64 points	1.05%	1.69%
Nestle SA Reg Common Stock CHF.1	ENHI +0.64 points	0.65%	1.29%
Tokyo Electron Ltd Common Stock	ENHI +0.55 points	0.13%	0.68%
Recruit Holdings Co Ltd Common Stock	ENHI +0.52 points	0.28%	0.80%
Abb Ltd Reg Common Stock CHF.12	ENHI +0.51 points	0.19%	0.70%
Schneider Electric SE Common Stock EUR4.0	ENHI +0.47 points	0.30%	0.77%
Mitsui & Co Ltd Common Stock	ENHI +0.46 points	0.02%	0.48%
Totalenergies SE Common Stock	ENHI +0.46 points	0.45%	0.91%
Hitachi Ltd Common Stock	ENHI +0.45 points	0.29%	0.74%
Keyence Corp Common Stock	ENHI +0.44 points	0.03%	0.47%
Enel Spa Common Stock EUR1.0	ENHI +0.43 points	0.12%	0.55%
Iberdrola SA Common Stock EUR.75	ENHI +0.39 points	0.34%	0.73%
Allianz SE Reg Common Stock	ENHI +0.38 points	0.56%	0.94%
Airbus SE Common Stock EUR1.0	ENHI +0.36 points	0.17%	0.53%
Mitsubishi Corp Common Stock	ENHI +0.36 points	0.16%	0.52%
Macquarie Group Ltd Common Stock	ENHI +0.36 points	0.09%	0.45%
Fast Retailing Co Ltd Common Stock	ENHI +0.36 points	0.09%	0.45%
Aia Group Ltd Common Stock	ENHI +0.34 points	0.18%	0.52%
Kioxia Holdings Corp Common Stock	ENHI +0.33 points	0.15%	0.48%
Intesa Sanpaolo Common Stock	ENHI +0.33 points	0.24%	0.57%
Lvmh Moet Hennessy Louis Vui Common Stock EUR.3	ENHI +0.32 points	0.24%	0.56%
Bae Systems PLC Common Stock GBP.025BA.L	ENHI +0.31 points	0.10%	0.41%
Itochu Corp Common Stock	ENHI +0.30 points	0.10%	0.40%
Siemens Energy AG Common Stock	ENHI +0.29 points	0.25%	0.54%
L Oreal Common Stock EUR.2	ENHI +0.28 points	0.17%	0.45%
Advantest Corp Common Stock	ENHI +0.27 points	0.46%	0.73%
London Stock Exchange Group Common Stock GBP.06918605LSEG.L	ENHI +0.27 points	0.04%	0.31%
Unicredit Spa Common Stock	ENHI +0.25 points	0.30%	0.55%
Nintendo Co Ltd Common Stock	ENHI +0.26 points	0.04%	0.30%
Cie Financiere Richemo A Reg Common Stock CHF1.0	ENHI +0.25 points	0.25%	0.50%
Dbs Group Holdings Ltd Common Stock	ENHI +0.25 points	0.29%	0.54%
Experian PLC Common Stock USD.1EXPN.L	ENHI +0.24 points	0.05%	0.29%
Atlas Copco Ab A Shs Common Stock SEK.16	ENHI +0.23 points	0.09%	0.32%
Naturgy Energy Group SA Common Stock EUR1.0	ENHI +0.22 points	0.02%	0.24%
National Australia Bank Ltd Common Stock	ENHI +0.23 points	0.22%	0.45%
Csl Ltd Common Stock	ENHI +0.22 points	0.07%	0.29%
Tokio Marine Holdings Inc Common Stock	ENHI +0.21 points	0.26%	0.47%
Prosus NV Common Stock EUR.05	ENHI +0.21 points	0.02%	0.23%
Engie Common Stock EUR1.0	ENHI +0.20 points	0.16%	0.36%
Swiss Life Holding AG Reg Common Stock CHF.1	AVDE +0.20 points	0.21%	<0.01%
Axa SA Common Stock EUR2.29	ENHI +0.21 points	0.30%	0.51%
Murata Manufacturing Co Ltd Common Stock	ENHI +0.20 points	0.14%	0.34%
Capgemini SE Common Stock EUR8.0	ENHI +0.20 points	0.01%	0.21%
Mizrahi Tefahot Bank Ltd Common Stock ILS.1	ENHI +0.18 points	0.04%	0.22%
Smc Corp Common Stock	ENHI +0.19 points	<0.01%	0.19%
Repsol SA Common Stock EUR1.0	AVDE +0.18 points	0.35%	0.17%
Shin Etsu Chemical Co Ltd Common Stock	ENHI +0.17 points	0.10%	0.28%
Rolls Royce Holdings PLC Common Stock GBP.2RR.L	ENHI +0.18 points	0.42%	0.60%
Essilorluxottica Common Stock EUR.18	ENHI +0.18 points	0.04%	0.22%
Erste Group Bank AG Common Stock	ENHI +0.18 points	0.07%	0.25%
Amadeus It Group SA Common Stock EUR.01	ENHI +0.17 points	0.04%	0.21%
Telefonica SA Common Stock EUR1.0	ENHI +0.17 points	0.03%	0.20%
Panasonic Holdings Corp Common Stock	ENHI +0.17 points	0.14%	0.31%
Mitsubishi Electric Corp Common Stock	ENHI +0.17 points	0.08%	0.25%
Legal & General Group PLC Common Stock GBP.025LGEN.L	AVDE +0.17 points	0.19%	0.02%
Mitsubishi Heavy Industries Common Stock	ENHI +0.17 points	0.20%	0.37%
Infineon Technologies AG Common Stock	ENHI +0.16 points	0.22%	0.38%
Daiichi Sankyo Co Ltd Common Stock	ENHI +0.17 points	0.02%	0.19%
Givaudan Reg Common Stock CHF10.0	ENHI +0.16 points	0.04%	0.20%
Volvo Ab B Shs Common Stock SEK1.26	ENHI +0.16 points	0.07%	0.23%
Lonza Group AG Reg Common Stock CHF1.0	AVDE +0.15 points	0.26%	0.11%
Fanuc Corp Common Stock	ENHI +0.16 points	0.03%	0.19%
Wolters Kluwer Common Stock EUR.12	ENHI +0.15 points	0.08%	0.23%
Kddi Corp Common Stock	AVDE +0.16 points	0.19%	0.03%
Singapore Telecommunications Common Stock	ENHI +0.15 points	0.05%	0.20%
Generali Common Stock	ENHI +0.15 points	0.07%	0.22%
Deutsche Boerse AG Common Stock	ENHI +0.15 points	0.16%	0.31%
Hermes International Common Stock	ENHI +0.15 points	0.09%	0.24%
Dnb Bank Asa Common Stock NOK12.5	ENHI +0.15 points	0.08%	0.23%
Muenchener Rueckver AG Reg Common Stock	ENHI +0.15 points	0.28%	0.43%
Fujitsu Limited Common Stock	ENHI +0.15 points	0.09%	0.24%
Mitsui Kinzoku Co Ltd Common Stock	AVDE +0.14 points	0.17%	0.03%
Israel Discount Bank A Common Stock ILS.1	ENHI +0.15 points	0.09%	0.24%
Bnp Paribas Common Stock EUR2.0	ENHI +0.15 points	0.37%	0.52%
Hoya Corp Common Stock	ENHI +0.14 points	0.09%	0.23%
Denso Corp Common Stock	ENHI +0.13 points	0.06%	0.19%
Terna Rete Elettrica Naziona Common Stock EUR.22	ENHI +0.13 points	0.09%	0.22%
Eneos Holdings Inc Common Stock	AVDE +0.14 points	0.14%	<0.01%
Renesas Electronics Corp Common Stock	ENHI +0.13 points	0.03%	0.16%
Japan Post Bank Co Ltd Common Stock	ENHI +0.13 points	0.04%	0.17%
Swedbank Ab A Shares Common Stock	ENHI +0.13 points	0.13%	0.26%
Disco Corp Common Stock	ENHI +0.13 points	0.02%	0.15%
Standard Chartered PLC Common Stock USD.5STAN.L	AVDE +0.13 points	0.34%	0.21%
Aker Bp Asa Common Stock NOK1.0	ENHI +0.13 points	0.01%	0.14%
Heineken NV Common Stock EUR1.6	ENHI +0.13 points	0.06%	0.19%
Ubs Group AG Reg Common Stock USD.1	ENHI +0.13 points	0.57%	0.70%
Chugai Pharmaceutical Co Ltd Common Stock	ENHI +0.12 points	0.06%	0.18%
Publicis Groupe Common Stock EUR.4	ENHI +0.13 points	0.04%	0.17%
Dhl AG Common Stock	ENHI +0.13 points	0.25%	0.38%
Sandoz Group AG Common Stock CHF.05	ENHI +0.13 points	0.04%	0.17%
Sika AG Reg Common Stock CHF.01	AVDE +0.12 points	0.22%	0.10%
Sumitomo Corp Common Stock	ENHI +0.12 points	0.11%	0.23%
Wesfarmers Ltd Common Stock	ENHI +0.12 points	0.17%	0.29%
Assa Abloy Ab B Common Stock SEK1.0	ENHI +0.12 points	0.05%	0.17%
Legrand SA Common Stock EUR4.0	ENHI +0.12 points	0.07%	0.19%
Regis Resources Ltd Common Stock	AVDE +0.12 points	0.12%	<0.01%

All 3,342 AVDE holdings⁠All 580 ENHI 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.

AVDE vs ENHI Cost

Overpaying ENHI vs AVDE

$798

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

AVDE 0.23%
$4,759
ENHI 0.27%
$5,557

Amount$10,000

Years30 years

Cost over time

AVDE 0.23%
ENHI 0.27%
Overpaying

Year by year

Year	AVDE	ENHI	Overpaying
10	$419	$491	$72
20	$1,630	$1,907	$277
30	$4,759	$5,557	$798

Expense ratio

0.23%AVDE, cheaper
0.27%ENHI

AVDE0.23%ENHI0.27%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDE 3rd cheapest of 55 funds

ENHI 4th cheapest of 55 funds

AVDE vs ENHI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVDE 2.84%; ENHI No data
Payout (12M): AVDE $2.53; ENHI No data
Last payment: AVDE $0.33; ENHI $0.32
Ex-dividend: AVDE Sep 8, 2026; ENHI Jun 15, 2026
Paid on: AVDE Sep 10, 2026; ENHI Jun 18, 2026
Frequency: AVDE Quarterly; ENHI Irregular

Distribution history

Per share, 2019 to 2026, same scale for both

AVDEQuarterly · 16 paymentsAll AVDE payments⁠

ENHIIrregular · 1 paymentAll ENHI payments⁠

AVDE vs ENHI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVDE 12.1%ENHI No data
Return per unit of riskSharpe ratio, 3 years: AVDE 1.35ENHI No data
Worst fallMax drawdown, 5 years: AVDE −28.7%ENHI No data
Market sensitivityBeta, 5 years: AVDE 0.88ENHI 0.57; Market = 1

AVDE and ENHI 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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AVDE vs ENHI

In short

Stated mandate

Why people hold it