AVDE vs NISM: Grades, Fees and Holdings Compared

Avantis International Equity ETF

AVDEANYSE Arca

NYLI International Small-Mid Cap Equity ETF

NISMDNYSE Arca

Overlap

3.4%by weight

Expense ratio

AVDE −0.47pt a year

AVDE0.23%NISM0.70%

Avg volume · 30D

AVDE 955.6×the volume

AVDE1.06MNISM1.11K

AVDE vs NISM Performance

Jul 31, 2026 – Oct 30, 2026

−2.0%AVDE−1.6%NISM

Expense ratio: AVDE 0.23%, better; NISM 0.70%
Fund size: AVDE $19.4B; NISM $26M
1Y total return: AVDE +15.6%; NISM No data
Yield (12M): AVDE 2.84%; NISM No data
Holdings: AVDE 3394; NISM 91
Avg volume (30D): AVDE 1.06M sh, better; NISM 1.11K sh
NAV per share: AVDE $89.03; NISM $24.47
52W range

ETF.net Grade

Pillar letters and Scores for AVDE, NISM, with each pillar’s weight
Pillar	AVDE	NISM
Cost30% weight	A96Higher	D30
Mission25% weight	Not scored	Not scored
Risk15% weight	B63	B63
Tradability15% weight	A92Higher	D27
Holdings10% weight	A90Higher	B60
Durability5% weight	A89Higher	F23

Rank among International Active Equity funds

How we build Categories ›

Same Category. AVDE and NISM 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 NISM 37th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 37DHDMVFirst Trust Horizon Managed Volatility Developed International ETFScore 39
Rank 37DNISMNYLI International Small-Mid Cap Equity ETFScore 39
Rank 39DFRGNHorizon International Equity ETFScore 38

Our read on each fund

ETF.net Research

AVDEAAvantis International Equity ETF

NISMDNYLI International Small-Mid Cap 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.

NISM Active stock-picking in a corner Wall Street barely covers: New York Life hands the keys to Ausbil's Global SmallCap team in Sydney, which builds a 50 to 100 name portfolio of non-US companies sized from roughly $500 million to $35 billion.

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.

NISM The Fund seeks long-term capital growth.

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.

NISM Sub-advised by Ausbil, an Australian active-equity specialist in New York Life's boutique network, running a global small-cap strategy that predates this ETF wrapper.nylim.com businesswire.com
Concentrated by design: the mandate targets 50 to 100 non-US names, so each pick carries real weight instead of being diluted across a thousand-stock index.businesswire.com
Spans small and mid caps (roughly $500 million to $35 billion), covering the size band pure small-cap funds stop short of and large-cap international funds skip.businesswire.com
Fully active, with no index to hug: a macro read, then regional and sector tilts, then company-level research, then risk-aware portfolio construction.businesswire.com

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.

NISM At 0.70% a year, it costs more than the typical fund in its active international peer group (median 0.59%) and well more than systematic peers like AVDE at 0.23% or AVDS at 0.30%.
Launched in 2026 with a small asset base and light trading, so spreads can run wider than the category's giants and there is little live record to study.
Distributions come once or twice a year at most. The stated goal is long-term capital growth, not an income stream.

Full AVDE profile⁠

Full NISM profile⁠

AVDE vs NISM Holdings

How AVDE and NISM differ

Overlap by weight

3.4%

Shared holdings make up 87.7% of NISM and 3.4% of AVDE.

Level by level

Holdings75 in both3.4%
Countryby domicile74.8%
Asset classEquity100%

Sector

No Sector split for NISM.

Country, concentration and asset class

Country by domicile

Country weights in AVDE and NISM, widest gap first
Country	More in AVDEMore in NISM	AVDE	NISM
Japan	NISM +9.5 points	22.7%	32.2%
Switzerland	AVDE +6.7 points	8.3%	1.6%
United Kingdom	AVDE +5.7 points	12.2%	6.5%
Italy	NISM +4.7 points	2.7%	7.4%
Sweden	NISM +3.1 points	3.3%	6.4%
Spain	AVDE +3.0 points	3.0%	0.0%
France	AVDE +2.9 points	6.7%	3.8%
Belgium	NISM +1.7 points	0.9%	2.6%
Other countries (20)	AVDE +0.9 points	40.3%	39.4%

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

Concentration

Weight in the 10 largest Holdings

AVDE7.5%
NISM23.6%

Securities held

AVDE3,378
NISM90

Asset class

AVDE: Equity
NISM: Equity

Holdings

Only in AVDE3,303
In both75
Only in NISM15

Only in AVDE

3,303 securities, 96.8% of AVDE by weight

Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.091.32%
Roche Holding AG Common Stock CHF.0011.05%
Shell PLC Adr Adr1.00%
Hsbc Holdings PLC Spons Adr Adr0.68%
Nestle SA Reg Common Stock CHF.10.65%
Banco Bilbao Vizcaya Sp Adr Adr0.59%
Ubs Group AG Reg Common Stock USD.10.57%
Bp PLC Spons Adr Adr0.56%
Bhp Group Ltd Spon Adr Adr0.56%
Allianz SE Reg Common Stock0.56%
Zurich Insurance Group AG Common Stock CHF.10.50%
Novartis AG Sponsored Adr Adr0.50%
Canadian Natural Resources Common Stock0.47%
Advantest Corp Common Stock0.46%
Suncor Energy Inc Common Stock0.46%
Toyota Motor Corp Spon Adr Adr0.46%
Totalenergies SE Common Stock0.45%
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%
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%
Sumitomo Mitsui Spons Adr Adr0.36%
Gsk PLC Spon Adr Adr0.36%
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%
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%
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%
Natwest Group PLC Spon Adr Adr0.31%
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%
Novo Nordisk A/S Spons Adr Adr0.29%

Only in NISM

15 securities, 12.3% of NISM by weight

Diploma PLC1.67%
Drey Inst Pref Gov Mm Ins1.43%
Imcd N.v.1.32%
Keppel DC REIT1.17%
Mirvac Group1.11%
Hammond Power Solutions Inc. Class A0.86%
Warehouses De Pauw SA0.74%
FLSmidth & Co. A/S0.74%
Montea NV0.73%
Aedifica SA0.69%
Kohoku Kogyo Co. Ltd.0.51%
Daihen Corporation0.49%
Tk Accelis Group AG & Co0.32%
Tuas Ltd.0.27%
Cash0.26%

Weight gaps

All 75 Holdings in both funds, largest gap first.

Holding weights in AVDE and NISM, widest gap first
Holding	More in AVDEMore in NISM	AVDE	NISM
Thyssenkrupp AG Common Stock	NISM +2.90 points	0.11%	3.01%
Nissan Chemical Corp Common Stock	NISM +2.54 points	0.02%	2.56%
Bandai Namco Holdings Inc Common Stock	NISM +2.51 points	0.09%	2.60%
Tmx Group Ltd Common Stock	NISM +2.32 points	0.02%	2.34%
Washington H Soul Pattinson Common Stock	NISM +2.28 points	0.06%	2.34%
Empire Co Ltd A Common Stock	NISM +2.26 points	0.04%	2.30%
Canadian Tire Corp Class A Common Stock	NISM +2.13 points	0.03%	2.16%
Nitto Denko Corp Common Stock	NISM +2.12 points	0.11%	2.23%
Terna Rete Elettrica Naziona Common Stock EUR.22	NISM +2.04 points	0.09%	2.13%
Japan Exchange Group Inc Common Stock	NISM +1.92 points	0.04%	1.96%
Horiba Ltd Common Stock	NISM +1.89 points	0.01%	1.90%
Asics Corp Common Stock	NISM +1.87 points	0.09%	1.96%
Eneos Holdings Inc Common Stock	NISM +1.74 points	0.14%	1.88%
Koninklijke Kpn NV Common Stock EUR.04	NISM +1.72 points	0.20%	1.92%
Gaztransport Et Techniga SA Common Stock EUR.01	NISM +1.63 points	0.10%	1.73%
Tdk Corp Common Stock	NISM +1.61 points	0.17%	1.78%
Mtu Aero Engines AG Common Stock	NISM +1.52 points	0.10%	1.62%
Codan Ltd Common Stock	NISM +1.50 points	<0.01%	1.51%
Amano Corp Common Stock	NISM +1.47 points	<0.01%	1.48%
Leonardo Spa Common Stock	NISM +1.42 points	0.04%	1.46%
Sumitomo Mitsui Trust Group Common Stock	NISM +1.40 points	0.13%	1.53%
Singapore Exchange Ltd Common Stock	NISM +1.39 points	0.08%	1.47%
Serco Group PLC Common Stock GBP.02SRP.L	NISM +1.33 points	<0.01%	1.34%
Daifuku Co Ltd Common Stock	NISM +1.31 points	0.02%	1.33%
Andritz AG Common Stock	NISM +1.30 points	0.02%	1.32%
Swire Pacific Ltd Class A Common Stock	NISM +1.25 points	0.07%	1.32%
Ssab Ab B Shares Common Stock	NISM +1.25 points	0.08%	1.33%
Buzzi Spa Common Stock	NISM +1.21 points	<0.01%	1.22%
Sho Bond Holdings Co Ltd Common Stock	NISM +1.22 points	<0.01%	1.22%
Bureau Veritas SA Common Stock EUR.12	NISM +1.20 points	0.06%	1.26%
Linamar Corp Common Stock	NISM +1.18 points	0.02%	1.20%
Euronext NV Common Stock EUR1.6	NISM +1.17 points	0.06%	1.23%
Nkt A/S Common Stock DKK20.0	NISM +1.16 points	0.07%	1.23%
Axfood Ab Common Stock SEK5.0	NISM +1.13 points	0.06%	1.19%
Capcom Co Ltd Common Stock	NISM +1.13 points	0.02%	1.15%
Outokumpu Oyj Common Stock	NISM +1.12 points	0.03%	1.15%
Sitc International Holdings Common Stock HKD.1	NISM +1.08 points	0.08%	1.16%
Medibank Private Ltd Common Stock	NISM +1.05 points	0.05%	1.10%
Extendicare Inc Common Stock	NISM +1.00 points	0.02%	1.02%
Nibe Industrier Ab B Shs Common Stock SEK.03906	NISM +0.99 points	0.02%	1.01%
Addtech Ab B Shares Common Stock SEK.75	NISM +0.96 points	0.04%	1.00%
Games Workshop Group PLC Common Stock GBP.05GAW.L	NISM +0.95 points	0.09%	1.04%
Hill & Smith PLC Common Stock GBP.25HILS.L	NISM +0.90 points	0.02%	0.92%
Softcat PLC Common Stock GBP.0005SCT.L	NISM +0.84 points	0.03%	0.87%
Konoike Transport Co Ltd Common Stock	NISM +0.84 points	<0.01%	0.84%
Shionogi & Co Ltd Common Stock	NISM +0.78 points	0.03%	0.81%
R+s Group Holding AG Common Stock CHF.1	NISM +0.77 points	<0.01%	0.78%
Geberit AG Reg Common Stock CHF.1	NISM +0.75 points	0.05%	0.80%
Asr Nederland NV Common Stock EUR.16	NISM +0.72 points	0.16%	0.88%
Tkms Ag+ Co Kgaa Common Stock	NISM +0.72 points	0.03%	0.75%
Stantec Inc Common Stock	NISM +0.71 points	0.02%	0.73%
Exosens Sas Common Stock	NISM +0.71 points	<0.01%	0.71%
Nippon Gas Co Ltd Common Stock	NISM +0.68 points	<0.01%	0.69%
Takasago Thermal Engineering Common Stock	NISM +0.67 points	<0.01%	0.67%
Attendo Ab Common Stock	NISM +0.63 points	0.01%	0.64%
Banca Generali Spa Common Stock EUR1.0	NISM +0.63 points	0.02%	0.65%
Unipol Assicurazioni Spa Common Stock	NISM +0.61 points	0.02%	0.63%
Tryg A/S Common Stock DKK5.0	NISM +0.61 points	<0.01%	0.62%
Dai Dan Co Ltd Common Stock	NISM +0.60 points	<0.01%	0.61%
Lagercrantz Group Ab B Shs Common Stock SEK.7	NISM +0.56 points	0.01%	0.57%
Aq Group Ab Common Stock SEK.4	NISM +0.56 points	0.01%	0.57%
Rational AG Common Stock	NISM +0.55 points	0.02%	0.57%
Ringkjoebing Landbobank A/S Common Stock DKK1.0	NISM +0.51 points	0.05%	0.56%
Wise Group PLC Class A Common Stock USD.01WISE.L	NISM +0.48 points	0.02%	0.50%
C Uyemura & Co Ltd Common Stock	NISM +0.47 points	<0.01%	0.47%
Nippon Signal Company Ltd Common Stock	NISM +0.47 points	<0.01%	0.47%
Bekaert NV Common Stock	NISM +0.44 points	0.02%	0.46%
Inaba Denki Sangyo Co Ltd Common Stock	NISM +0.43 points	0.01%	0.44%
Sunevision Holdings Common Stock HKD.1	NISM +0.43 points	<0.01%	0.43%
Hochiki Corp Common Stock	NISM +0.43 points	<0.01%	0.43%
Imdex Ltd Common Stock	NISM +0.40 points	<0.01%	0.40%
Systena Corp Common Stock	NISM +0.33 points	<0.01%	0.33%
Chudenko Corp Common Stock	NISM +0.32 points	<0.01%	0.32%
Fujikura Ltd Common Stock	NISM +0.30 points	0.27%	0.57%
Toenec Corp Common Stock	NISM +0.30 points	<0.01%	0.30%

All 3,342 AVDE holdings⁠All 88 NISM 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 NISM Cost

Overpaying NISM vs AVDE

$8,847

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

AVDE 0.23%
$4,759
NISM 0.70%
$13,606

Amount$10,000

Years30 years

Cost over time

AVDE 0.23%
NISM 0.70%
Overpaying

Year by year

Year	AVDE	NISM	Overpaying
10	$419	$1,250	$831
20	$1,630	$4,760	$3,130
30	$4,759	$13,606	$8,847

Expense ratio

0.23%AVDE, cheaper
0.70%NISM

AVDE0.23%NISM0.70%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDE 3rd cheapest of 55 funds

NISM 38th cheapest of 55 funds

AVDE vs NISM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVDE 2.84%; NISM No data
Payout (12M): AVDE $2.53; NISM No data
Last payment: AVDE $0.33; NISM $0.06
Ex-dividend: AVDE Sep 8, 2026; NISM Jun 18, 2026
Paid on: AVDE Sep 10, 2026; NISM Jun 22, 2026
Frequency: AVDE Quarterly; NISM Irregular

Distribution history

Per share, 2019 to 2026, same scale for both

AVDEQuarterly · 16 paymentsAll AVDE payments⁠

NISMIrregular · 1 paymentAll NISM payments⁠

AVDE vs NISM 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%NISM No data
Return per unit of riskSharpe ratio, 3 years: AVDE 1.35NISM No data
Worst fallMax drawdown, 5 years: AVDE −28.7%NISM No data
Market sensitivityBeta, 5 years: AVDE 0.88NISM 0.99; Market = 1

AVDE and NISM 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 NISM

In short

Stated mandate

Why people hold it