AVDE vs IVSI

AVDEAAvantis International Equity ETF

IVSICApplied Finance IVS International Large 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.

IVSI A December 2025 arrival: Applied Finance picking large caps in developed markets outside the US, no index to shadow. Everything here is early days, from the track record to the asset base.

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.

IVSI The Fund seeks long-term capital appreciation.

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.

• IVSI Simple mandate, plainly stated: long-term capital appreciation from developed markets outside the US, run actively rather than tracking a declared index.
• Standard 1940 Act stock-fund wrapper, no leverage sleeve or structural quirks flagged in the filings.
• At 0.65% a year, the fee sits close to what actively managed international ETFs typically charge, not at a boutique premium.

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.

• IVSI That 0.65% is roughly triple what broad systematic rivals charge (AVDE at 0.23%, DFIC at 0.22%), so the stock selection carries the whole cost gap.
• Launched in December 2025, so there is no long record to judge and the risk picture rests on a very short history.
• Small and thinly traded so far, which tends to mean wider spreads and more slippage between the price on screen and the basket underneath.

Full AVDE profile⁠

Full IVSI profile⁠