AVDE vs GIEQ: Grades, Fees and Holdings Compared

Avantis International Equity ETF

AVDEANYSE Arca

Goldman Sachs Data Enhanced International Equity ETF

GIEQANasdaq

Overlap

23.6%by weight

Expense ratio

AVDE −0.07pt a year

AVDE0.23%GIEQ0.30%

Avg volume · 30D

AVDE 58.8×the volume

AVDE1.06MGIEQ18K

AVDE vs GIEQ Performance

Jul 31, 2026 – Oct 30, 2026

−2.0%AVDE−2.6%GIEQ

Expense ratio: AVDE 0.23%, better; GIEQ 0.30%
Fund size: AVDE $19.4B; GIEQ $62M
1Y total return: AVDE +15.6%; GIEQ No data
Yield (12M): AVDE 2.84%; GIEQ No data
Holdings: AVDE 3394; GIEQ 300
Avg volume (30D): AVDE 1.06M sh, better; GIEQ 18K sh
NAV per share: AVDE $89.03; GIEQ $41.26
52W range

ETF.net Grade

Pillar letters and Scores for AVDE, GIEQ, with each pillar’s weight
Pillar	AVDE	GIEQ
Cost30% weight	A96Higher	A89
Mission25% weight	Not scored	Not scored
Risk15% weight	B63	B69Higher
Tradability15% weight	A92Higher	D39
Holdings10% weight	A90Higher	A79
Durability5% weight	A89Higher	C46

Rank among International Active Equity funds

How we build Categories ›

Same Category. AVDE and GIEQ 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 GIEQ 8th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 7AAVNMAvantis All International Markets Equity ETFScore 72
Rank 8AGIEQGoldman Sachs Data Enhanced International Equity ETFScore 70
Rank 9BTOUST. Rowe Price International Equity ETFScore 68

Our read on each fund

ETF.net Research

AVDEAAvantis International Equity ETF

GIEQAGoldman Sachs Data Enhanced International Equity 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.

GIEQ Goldman's quant desk pointed its data-driven stock picking at developed markets outside the US: roughly 300 names, models doing the selecting, 0.30% a year. Active international at close to index-fund pricing.

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.

GIEQ The Fund seeks long-term growth of capital.

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.

GIEQ Charges 0.30% a year, roughly half the typical fee in its active international peer group (cohort median 0.59%).
Actively run off Goldman's quantitative models rather than a rulebook index, with the stated aim of outdoing a developed ex-US benchmark.gs.com
Broad by design: about 300 holdings, at least 80% of net assets in non-US issuers, spread across large and mid caps.gs.com
Plain 1940 Act ETF structure. No leverage, no options overlay, no exotic flags, so stock selection is the only moving part.

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.

GIEQ Launched in 2026 with a small asset base and thin early trading, so there is no long record yet and limit orders matter more than in a giant fund.
Cheap for active, not the cheapest on the shelf: systematic rivals DFIC, AVDE and JIRE all price under 0.25%.
The mandate is long-term growth of capital, not income, and the fund has not been paying out distributions.

Full AVDE profile⁠

Full GIEQ profile⁠

AVDE vs GIEQ Holdings

How AVDE and GIEQ differ

Overlap by weight

23.6%

Shared holdings make up 73.9% of GIEQ and 26.0% of AVDE.

Level by level

Holdings241 in both23.6%
Countryby domicile82.3%
Asset classEquity100%

Sector

No Sector split for GIEQ.

Country, concentration and asset class

Country by domicile

Country weights in AVDE and GIEQ, widest gap first
Country	More in AVDEMore in GIEQ	AVDE	GIEQ
Canada	AVDE +12.3 points	12.3%	0.0%
France	GIEQ +4.2 points	6.7%	10.8%
Germany	GIEQ +2.5 points	7.0%	9.5%
Japan	GIEQ +2.4 points	22.7%	25.1%
Netherlands	GIEQ +1.4 points	4.2%	5.6%
Switzerland	GIEQ +1.4 points	8.3%	9.7%
Italy	AVDE +1.4 points	2.7%	1.3%
Australia	GIEQ +1.4 points	6.3%	7.7%
Other countries (20)	GIEQ +0.5 points	29.8%	30.3%

Outside the US: AVDE 98% developed, 2% emerging. GIEQ 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

AVDE7.5%
GIEQ15.7%

Securities held

AVDE3,378
GIEQ294

Asset class

AVDE: Equity
GIEQ: Equity

Holdings

Only in AVDE3,137
In both241
Only in GIEQ53

Only in AVDE

3,137 securities, 74.2% 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%
Rwe AG Common Stock0.33%
Oversea Chinese Banking Corp 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%
Dbs Group Holdings Ltd 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%
Swiss Re AG Common Stock USD.120.27%
Societe Generale SA Common Stock EUR1.250.27%
Tesco PLC Common Stock GBP.06333330.26%
Sony Group Corp Sp Adr Adr0.26%
Tokio Marine Holdings Inc Common Stock0.26%
Eni Spa Sponsored Adr Adr0.24%
Intesa Sanpaolo Common Stock0.24%
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%
National Australia Bank Ltd Common Stock0.22%
Manulife Financial Corp Common Stock0.22%
Sika AG Reg Common Stock CHF.010.22%

Only in GIEQ

53 securities, 25.9% of GIEQ by weight

Asml Holding N.v.3.36%
Bhp Group Limited1.34%
Mitsubishi Ufj Financial Group1.34%
Unilever PLC1.19%
Hsbc Holdings PLC0.96%
Sony Group Corporation0.95%
National Grid PLC0.92%
Sanofi0.89%
Novartis AG Shs0.85%
Sap SE0.84%
Lloyds Banking Group PLC0.77%
Banco Bilbao Vizcaya0.77%
Bp PLC0.72%
Japan Tobacco Inc.0.64%
Banco Santander, S.a.0.63%
Novo Nordisk A/S0.62%
Investor Aktiebolag0.62%
Imperial Brands PLC0.62%
Haleon PLC0.49%
Natwest Group PLC0.49%
Barclays PLC0.40%
Ericsson (Lm) Telefon-0.39%
Christian Dior Ord0.37%
Toyota Motor Corporation0.36%
Sumitomo Mitsui Fin Group, Inc0.36%
Honda Motor Co., Ltd.0.35%
Anheuser-Busch Inbev0.35%
British American Tobacco Ord0.34%
Mizuho Financial Group0.33%
Relx PLC0.32%
Gsk PLC0.30%
Orix Corporation0.29%
Equinor Asa0.28%
Phc Holdings Corporation0.27%
Tpg Telecom Limited0.26%
Mitsubishi Research Institute, Inc.0.22%
Daiho Co Ltd0.20%
Cosel Co., Ltd.0.19%
Argan SA0.19%
Arcelormittal0.17%
Vodafone Group PLC0.16%
Klepierre SA Shs0.15%
Scandinavian Tobacco Group A/S0.13%
Amplifon S.p.a.0.11%
Aizawa Securities Group Co Ltd0.11%
Prudential Public Limited Company0.11%
Covivio0.05%
Tri Chemical Laboratories Inc.0.04%
Sbi Global Asset Management Co., Ltd.0.03%
Shizuoka Gas Co., Ltd.0.03%

Weight gaps

The 100 widest of 241 Holdings in both funds.

Holding weights in AVDE and GIEQ, widest gap first
Holding	More in AVDEMore in GIEQ	AVDE	GIEQ
Siemens AG Reg Common Stock	GIEQ +1.37 points	0.18%	1.55%
Roche Holding AG Common Stock CHF.001	GIEQ +1.20 points	1.05%	2.25%
Shell PLC Common Stock EUR.07SHEL.L	GIEQ +0.75 points	0.09%	0.84%
Lvmh Moet Hennessy Louis Vui Common Stock EUR.3	GIEQ +0.69 points	0.24%	0.93%
Allianz SE Reg Common Stock	GIEQ +0.68 points	0.56%	1.24%
Cie Financiere Richemo A Reg Common Stock CHF1.0	GIEQ +0.66 points	0.25%	0.91%
Macquarie Group Ltd Common Stock	GIEQ +0.65 points	0.09%	0.74%
Tokyo Electron Ltd Common Stock	GIEQ +0.63 points	0.13%	0.76%
Rio Tinto Ltd Common Stock	GIEQ +0.63 points	0.12%	0.75%
Ubs Group AG Reg Common Stock USD.1	GIEQ +0.62 points	0.57%	1.19%
Nestle SA Reg Common Stock CHF.1	GIEQ +0.63 points	0.65%	1.28%
Industria De Diseno Textil Common Stock EUR.03	GIEQ +0.63 points	0.22%	0.85%
Fresenius SE & Co Kgaa Common Stock	GIEQ +0.61 points	0.06%	0.67%
Essilorluxottica Common Stock EUR.18	GIEQ +0.59 points	0.04%	0.63%
Kyocera Corp Common Stock	GIEQ +0.58 points	0.02%	0.60%
Axa SA Common Stock EUR2.29	GIEQ +0.58 points	0.30%	0.88%
Nordea Bank Abp Common Stock EUR1.0	GIEQ +0.57 points	0.15%	0.72%
Aia Group Ltd Common Stock	GIEQ +0.55 points	0.18%	0.73%
Sekisui House Ltd Common Stock	GIEQ +0.55 points	0.02%	0.57%
Hexagon Ab B Shs Common Stock EUR.22	GIEQ +0.54 points	0.02%	0.56%
Safran SA Common Stock EUR.2	GIEQ +0.52 points	0.43%	0.95%
Thales SA Common Stock EUR3.0	GIEQ +0.51 points	0.10%	0.62%
Deutsche Telekom AG Reg Common Stock	GIEQ +0.52 points	0.40%	0.92%
Edp SA Common Stock EUR1.0	GIEQ +0.51 points	0.05%	0.56%
Vontobel Holding AG Reg Common Stock CHF1.0	GIEQ +0.49 points	0.02%	0.51%
Nippon Yusen Kk Common Stock	GIEQ +0.49 points	0.04%	0.53%
Totalenergies SE Common Stock	GIEQ +0.49 points	0.45%	0.94%
Asahi Group Holdings Ltd Common Stock	GIEQ +0.48 points	0.01%	0.49%
Panasonic Holdings Corp Common Stock	GIEQ +0.48 points	0.14%	0.62%
Unicredit Spa Common Stock	GIEQ +0.47 points	0.30%	0.77%
Zurich Insurance Group AG Common Stock CHF.1	AVDE +0.48 points	0.50%	0.02%
Icg PLC Common Stock GBP.2625ICP.L	GIEQ +0.47 points	0.04%	0.51%
Muenchener Rueckver AG Reg Common Stock	GIEQ +0.47 points	0.28%	0.75%
Rolls Royce Holdings PLC Common Stock GBP.2RR.L	GIEQ +0.46 points	0.42%	0.88%
Siemens Energy AG Common Stock	GIEQ +0.45 points	0.25%	0.70%
Mitsubishi Corp Common Stock	GIEQ +0.44 points	0.16%	0.60%
Westpac Banking Corp Common Stock	GIEQ +0.43 points	0.26%	0.69%
Marubeni Corp Common Stock	GIEQ +0.43 points	0.14%	0.57%
Danone Common Stock EUR.25	GIEQ +0.42 points	0.04%	0.46%
Fisher & Paykel Healthcare C Common Stock	GIEQ +0.42 points	0.02%	0.44%
Astrazeneca PLC Common StockAZN.L	GIEQ +0.42 points	0.40%	0.82%
Bank of East Asia Ltd Common Stock	GIEQ +0.40 points	0.02%	0.42%
Abb Ltd Reg Common Stock CHF.12	GIEQ +0.40 points	0.19%	0.59%
Bae Systems PLC Common Stock GBP.025BA.L	GIEQ +0.41 points	0.10%	0.51%
Doutor Nichires Holdings Co Common Stock	GIEQ +0.40 points	<0.01%	0.40%
Dhl AG Common Stock	GIEQ +0.40 points	0.25%	0.65%
Ck Asset Holdings Ltd Common Stock HKD1.0	GIEQ +0.40 points	0.06%	0.46%
Bnp Paribas Common Stock EUR2.0	GIEQ +0.40 points	0.37%	0.77%
Singapore Exchange Ltd Common Stock	GIEQ +0.39 points	0.08%	0.47%
Kioxia Holdings Corp Common Stock	GIEQ +0.39 points	0.15%	0.54%
Wolters Kluwer Common Stock EUR.12	GIEQ +0.38 points	0.08%	0.46%
Spotify Technology SA Common Stock EUR.000625	GIEQ +0.39 points	0.07%	0.46%
Caixabank SA Common Stock EUR1.0	GIEQ +0.38 points	0.07%	0.45%
Coles Group Ltd Common Stock	GIEQ +0.37 points	0.12%	0.49%
Kyowa Kirin Co Ltd Common Stock	GIEQ +0.35 points	<0.01%	0.36%
Glencore PLC Common Stock USD.01	GIEQ +0.35 points	0.17%	0.52%
Dic Corp Common Stock	GIEQ +0.35 points	0.02%	0.37%
Tryg A/S Common Stock DKK5.0	GIEQ +0.34 points	<0.01%	0.35%
Ck Hutchison Holdings Ltd Common Stock HKD1.0	GIEQ +0.33 points	0.07%	0.40%
Fujitsu Limited Common Stock	GIEQ +0.33 points	0.09%	0.42%
Renesas Electronics Corp Common Stock	GIEQ +0.32 points	0.03%	0.35%
Reckitt Benckiser Group PLC Common Stock GBP.10417RKT.L	GIEQ +0.32 points	0.20%	0.52%
Ntt Inc Common Stock	GIEQ +0.31 points	0.12%	0.43%
Qiagen N.v. Common Stock EUR.01	GIEQ +0.30 points	0.01%	0.31%
Sumitomo Chemical Co Ltd Common Stock	GIEQ +0.30 points	0.07%	0.37%
Nippon Express Holdings Inc Common Stock	GIEQ +0.30 points	0.08%	0.38%
Recruit Holdings Co Ltd Common Stock	GIEQ +0.30 points	0.28%	0.58%
Volvo Ab B Shs Common Stock SEK1.26	GIEQ +0.29 points	0.07%	0.36%
Hoya Corp Common Stock	GIEQ +0.30 points	0.09%	0.39%
Naturgy Energy Group SA Common Stock EUR1.0	GIEQ +0.28 points	0.02%	0.30%
Mitsubishi Chemical Group Co Common Stock	GIEQ +0.28 points	0.09%	0.37%
Orange Common Stock EUR4.0	GIEQ +0.28 points	0.18%	0.46%
Mitsubishi Electric Corp Common Stock	GIEQ +0.28 points	0.08%	0.36%
Schneider Electric SE Common Stock EUR4.0	GIEQ +0.28 points	0.30%	0.58%
Kone Oyj B Common Stock	GIEQ +0.27 points	0.04%	0.31%
Telstra Group Ltd Common Stock	GIEQ +0.27 points	0.05%	0.32%
Deutsche Bank AG Registered Common Stock	GIEQ +0.26 points	0.25%	0.51%
Koninklijke Ahold Delhaize N Common Stock EUR.01	GIEQ +0.26 points	0.25%	0.51%
Sato Corp Common Stock	GIEQ +0.26 points	<0.01%	0.26%
Standard Chartered PLC Common Stock USD.5STAN.L	AVDE +0.25 points	0.34%	0.09%
Van Lanschot Kempen NV Cva Dutch Cert EUR1.0	GIEQ +0.26 points	<0.01%	0.27%
Conduit Holdings Ltd Common StockCRE.L	GIEQ +0.25 points	<0.01%	0.26%
Hulic Co Ltd Common Stock	GIEQ +0.25 points	0.03%	0.28%
Academedia Ab Common Stock SEK1.0	GIEQ +0.24 points	<0.01%	0.25%
Bank of The Ryukyus Ltd Common Stock	GIEQ +0.24 points	<0.01%	0.25%
Japan Post Bank Co Ltd Common Stock	GIEQ +0.24 points	0.04%	0.28%
Vinci SA Common Stock EUR2.5	GIEQ +0.24 points	0.33%	0.57%
Monadelphous Group Ltd Common Stock	GIEQ +0.24 points	0.01%	0.25%
Wartsila Oyj Abp Common Stock	GIEQ +0.24 points	0.06%	0.30%
Sesa Spa Common Stock	GIEQ +0.23 points	<0.01%	0.24%
Ansell Ltd Common Stock	GIEQ +0.23 points	<0.01%	0.23%
Avex Inc Common Stock	GIEQ +0.23 points	<0.01%	0.23%
Hitachi Construction Machine Common Stock	GIEQ +0.23 points	0.02%	0.25%
Kubota Corp Common Stock	GIEQ +0.23 points	0.03%	0.26%
Advantest Corp Common Stock	GIEQ +0.22 points	0.46%	0.68%
Woolworths Group Ltd Common Stock	GIEQ +0.22 points	0.14%	0.36%
K’s Holdings Corp Common Stock	GIEQ +0.21 points	0.03%	0.24%
S Foods Inc Common Stock	GIEQ +0.21 points	<0.01%	0.21%
Wihlborgs Fastigheter Ab Common Stock SEK2.5	GIEQ +0.20 points	<0.01%	0.20%
Dassault Aviation SA Common Stock EUR.8	GIEQ +0.20 points	0.07%	0.27%

All 3,342 AVDE holdings⁠All 295 GIEQ 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 GIEQ Cost

Overpaying GIEQ vs AVDE

$1,390

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

AVDE 0.23%
$4,759
GIEQ 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

AVDE 0.23%
GIEQ 0.30%
Overpaying

Year by year

Year	AVDE	GIEQ	Overpaying
10	$419	$545	$126
20	$1,630	$2,113	$483
30	$4,759	$6,149	$1,390

Expense ratio

0.23%AVDE, cheaper
0.30%GIEQ

AVDE0.23%GIEQ0.30%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDE 3rd cheapest of 55 funds

GIEQ 6th cheapest of 55 funds

AVDE vs GIEQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVDE 2.84%; GIEQ No data
Payout (12M): AVDE $2.53; GIEQ None
Last payment: AVDE $0.33; GIEQ No data
Ex-dividend: AVDE Sep 8, 2026; GIEQ No data
Paid on: AVDE Sep 10, 2026; GIEQ No data
Frequency: AVDE Quarterly; GIEQ No data

Distribution history

Per share, 2019 to 2026, same scale for both

AVDEQuarterly · 16 paymentsAll AVDE payments⁠

GIEQAll GIEQ payments⁠

No distribution history available.

AVDE vs GIEQ 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%GIEQ No data
Return per unit of riskSharpe ratio, 3 years: AVDE 1.35GIEQ No data
Worst fallMax drawdown, 5 years: AVDE −28.7%GIEQ No data
Market sensitivityBeta, 5 years: AVDE 0.88GIEQ 0.32; Market = 1

AVDE and GIEQ in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026AVDEGIEQ
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
Goldman files a second GEMQ booklet; sibling GIEQ has traded since May
Sep 9, 2026GIEQ
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 GIEQ

In short

Stated mandate

Why people hold it