AVDE vs PIEQ: Grades, Fees and Holdings Compared

Avantis International Equity ETF

AVDEANYSE Arca

Principal International Equity ETF

PIEQBCboe

Overlap

3.7%by weight

Expense ratio

AVDE −0.25pt a year

AVDE0.23%PIEQ0.48%

Avg volume · 30D

AVDE 25.0×the volume

AVDE1.07MPIEQ42.8K

AVDE vs PIEQ Performance

Nov 7, 2025 – Nov 9, 2026

+17.4%AVDE+15.6%PIEQ

Expense ratio: AVDE 0.23%, better; PIEQ 0.48%
Fund size: AVDE $19.3B; PIEQ $1.3B
1Y total return: AVDE +17.4%, better; PIEQ +15.6%
Yield (12M): AVDE 2.80%, better; PIEQ 1.18%
Holdings: AVDE 3397; PIEQ 39
Avg volume (30D): AVDE 1.07M sh, better; PIEQ 42.8K sh
NAV per share: AVDE $87.59; PIEQ $34.95
52W range

ETF.net Grade

Pillar letters and Scores for AVDE, PIEQ, with each pillar’s weight
Pillar	AVDE	PIEQ
Cost30% weight	A96Higher	A71
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	B62
Tradability15% weight	A91Higher	B60
Holdings10% weight	A90Higher	C42
Durability5% weight	A89Higher	B66

Rank among International Active Equity funds

How we build Categories ›

Same Category. AVDE and PIEQ 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 PIEQ 19th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 88
Rank 2ADFICDimensional International Core Equity 2 ETFScore 87
Rank 18BPQNTPictet AI Enhanced International Equity ETFScore 63
Rank 19BPIEQPrincipal International Equity ETFScore 62
Rank 20BCGICCapital Group International Core Equity ETFScore 61

Our read on each fund

ETF.net Research

AVDEAAvantis International Equity ETF

PIEQBPrincipal 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.

PIEQ No data

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.

PIEQ No data

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.

PIEQ No data

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.

PIEQ No data

Full AVDE profile⁠

Full PIEQ profile⁠

AVDE vs PIEQ Holdings

How AVDE and PIEQ differ

Overlap by weight

3.7%

Shared holdings make up 43.6% of PIEQ and 3.7% of AVDE.

Level by level

Holdings16 in both3.7%
Countryby domicile49.9%
Sector12 Sectors73.8%
Asset classStocks100%

Sector

Sector weights in AVDE and PIEQ, widest gap first
Sector	Gap	AVDE	PIEQ
Health Care	PIEQ +10.2 points	6.6%	16.8%
Industrials	AVDE +10.1 points	17.1%	7.0%
Technology	PIEQ +9.4 points	6.6%	16.0%
Materials	AVDE +5.7 points	11.4%	5.7%
Financials	AVDE +5.4 points	26.2%	20.8%
Communication	PIEQ +5.1 points	3.9%	9.0%
Energy	AVDE +1.6 points	7.4%	5.8%
Consumer Staples	AVDE +1.5 points	5.6%	4.1%
Real Estate	AVDE +1.3 points	1.3%	0.0%
Consumer Discretionary	PIEQ +1.0 points	10.0%	11.0%
Utilities	AVDE +0.8 points	4.0%	3.2%
Government	PIEQ +0.5 points	0.0%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in AVDE and PIEQ, widest gap first
Country	Gap	AVDE	PIEQ
Japan	AVDE +10.6 points	22.0%	11.3%
United States	PIEQ +10.2 points	1.3%	11.5%
Switzerland	AVDE +8.5 points	8.5%	0.0%
China	PIEQ +8.2 points	0.2%	8.3%
Taiwan	PIEQ +5.9 points	0.0%	5.9%
South Korea	PIEQ +4.9 points	0.0%	4.9%
Australia	AVDE +4.7 points	6.3%	1.6%
Germany	AVDE +4.6 points	7.1%	2.5%
Other countries (23)	AVDE +0.7 points	54.6%	53.9%

Outside the US: AVDE 98% developed, 2% emerging. PIEQ 75% developed, 25% emerging.

Concentration

Weight in the 10 largest Holdings

AVDE7.4%
PIEQ45.0%

Securities held

AVDE3,379
PIEQ36

Asset class

AVDE: Stocks
PIEQ: Stocks

Holdings

Only in AVDE3,363
In both16
Only in PIEQ20

Only in AVDE

3,363 securities, 96.3% of AVDE by weight

Roche Holding AG Common Stock CHF.0011.05%
Shell PLC Adr Adr0.94%
Hsbc Holdings PLC Spons Adr Adr0.70%
Nestle SA Reg Common Stock CHF.10.70%
Banco Bilbao Vizcaya Sp Adr Adr0.63%
Allianz SE Reg Common Stock0.58%
Ubs Group AG Reg Common Stock USD.10.58%
Zurich Insurance Group AG Common Stock CHF.10.52%
Toyota Motor Corp Spon Adr Adr0.51%
Novartis AG Sponsored Adr Adr0.51%
Bp PLC Spons Adr Adr0.51%
Safran SA Common Stock EUR.20.46%
Royal Bank of Canada Common Stock0.45%
Toronto Dominion Bank Common Stock0.45%
Ing Groep N.v. Sponsored Adr Adr0.45%
Astrazeneca PLC Common Stock0.44%
Totalenergies SE Common Stock0.44%
Mitsubishi Ufj Finl Spon Adr Adr0.43%
Rolls Royce Holdings PLC Common Stock GBP.20.43%
Canadian Natural Resources Common Stock0.42%
Suncor Energy Inc Common Stock0.41%
Deutsche Telekom AG Reg Common Stock0.41%
Gsk PLC Spon Adr Adr0.39%
Agnico Eagle Mines Ltd Common Stock0.37%
Repsol SA Common Stock EUR1.00.36%
Advantest Corp Common Stock0.36%
Iberdrola SA Common Stock EUR.750.36%
Sumitomo Mitsui Spons Adr Adr0.35%
Standard Chartered PLC Common Stock USD.50.35%
Banco Santander SA Spon Adr Adr0.34%
Vinci SA Common Stock EUR2.50.34%
Barclays PLC Spons Adr Adr0.33%
Axa SA Common Stock EUR2.290.33%
Rwe AG Common Stock0.32%
Bank of Montreal Common Stock0.32%
Oversea Chinese Banking Corp Common Stock0.32%
Unicredit Spa Common Stock0.31%
Novo Nordisk A/S Spons Adr Adr0.31%
Can Imperial Bk of Commerce Common Stock0.30%
Muenchener Rueckver AG Reg Common Stock0.30%
Natwest Group PLC Spon Adr Adr0.29%
Sap SE Sponsored Adr Adr0.29%
Sony Group Corp Sp Adr Adr0.29%
Bank of Nova Scotia Common Stock0.29%
Cenovus Energy Inc Common Stock0.29%
Schneider Electric SE Common Stock EUR4.00.29%
Rio Tinto PLC Spon Adr Adr0.29%
Lonza Group AG Reg Common Stock CHF1.00.28%
Softbank Group Corp Common Stock0.28%
Swiss Re AG Common Stock USD.120.28%

Only in PIEQ

20 securities, 56.1% of PIEQ by weight

Taiwan Semiconductor Sp Adr Adr6.22%
Samsung Electronics Co Ltd Common Stock KRW100.04.49%
Spotify Technology SA Common Stock EUR.0006254.34%
Suncor Energy Inc Common Stock4.22%
British American Tobacco PLC Common Stock4.05%
Erste Group Bank AG Common Stock3.29%
Astrazeneca PLC Common Stock USD.253.21%
Tencent Holdings Ltd Common Stock HKD.000023.16%
Daimler Truck Holding AG Common Stock3.10%
Yum China Holdings Inc Common Stock USD.013.06%
Rexel SA Common Stock EUR5.03.03%
National Bank of Greece Common Stock EUR3.02.76%
Icon PLC Common Stock EUR.062.64%
Trip.com Group Ltd Common Stock USD.001251.88%
Entain PLC Common Stock EUR.011.63%
Bp PLC Common Stock USD.251.61%
Zegona Communications PLC Common Stock GBP.011.17%
Ascendis Pharma A/S Common Stock DKK1.00.99%
Samsonite Group SA Common Stock USD.010.88%
State Street Institutional Us State St Inst Us Gov Mm Prem0.42%

Weight gaps

All 16 Holdings in both funds, largest gap first.

Holding weights in AVDE and PIEQ, widest gap first
Holding	Gap	AVDE	PIEQ
Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.09ASML	PIEQ +4.17 points	1.20%	5.37%
Teck Resources Ltd Cls B Common Stock	PIEQ +4.15 points	0.16%	4.31%
Sompo Holdings Inc Common Stock	PIEQ +4.10 points	0.18%	4.28%
Aib Group PLC Common Stock EUR.625	PIEQ +4.03 points	0.12%	4.15%
Galaxy Entertainment Group L Common Stock	PIEQ +3.59 points	0.02%	3.61%
Bae Systems PLC Common Stock GBP.025BA.L	PIEQ +2.89 points	0.09%	2.98%
Abn Amro Bank NV Cva Dutch Cert EUR1.0	PIEQ +2.80 points	0.21%	3.01%
Obayashi Corp Common Stock	PIEQ +2.36 points	0.06%	2.42%
Hannover Rueck SE Common Stock	PIEQ +2.24 points	0.14%	2.38%
Hoya Corp Common Stock	PIEQ +2.19 points	0.08%	2.27%
Argenx SE Adr AdrARGX	PIEQ +1.81 points	0.15%	1.96%
Bnp Paribas Common Stock EUR2.0	PIEQ +1.76 points	0.40%	2.16%
Komatsu Ltd Common Stock	PIEQ +1.33 points	0.08%	1.41%
Aia Group Ltd Common Stock	PIEQ +1.25 points	0.20%	1.45%
Bhp Group Ltd Spon Adr AdrBHP	PIEQ +0.93 points	0.56%	1.49%
Nice Ltd Spon Adr AdrNICE	PIEQ +0.33 points	<0.01%	0.33%

All 3,378 AVDE holdings⁠All 35 PIEQ 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 PIEQ Cost

Overpaying PIEQ vs AVDE

$4,846

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

AVDE 0.23%
$4,759
PIEQ 0.48%
$9,605

Amount$10,000

Years30 years

Cost over time

AVDE 0.23%
PIEQ 0.48%
Overpaying

Year by year

Year	AVDE	PIEQ	Overpaying
10	$419	$865	$446
20	$1,630	$3,328	$1,698
30	$4,759	$9,605	$4,846

Expense ratio

0.23%AVDE, cheaper
0.48%PIEQ

AVDE0.23%PIEQ0.48%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDE 3rd cheapest of 55 funds

PIEQ 17th cheapest of 55 funds

AVDE vs PIEQ Dividends

Last 12 months to Nov 9, 2026

Yield (12M): AVDE 2.80%, better; PIEQ 1.18%
Payout (12M): AVDE $2.53; PIEQ $0.42
Last payment: AVDE $0.33; PIEQ $0.42
Ex-dividend: AVDE Sep 8, 2026; PIEQ Dec 29, 2025
Paid on: AVDE Sep 10, 2026; PIEQ Dec 31, 2025
Frequency: AVDE Quarterly; PIEQ Annual

Distribution history

Per share, 2019 to 2026, same scale for both

AVDEQuarterly · 16 paymentsAll AVDE payments⁠

PIEQAnnual · 2 paymentsAll PIEQ payments⁠

AVDE vs PIEQ 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%PIEQ 10.2%since Dec 2024
Return per unit of riskSharpe ratio, 3 years: AVDE 1.35PIEQ 1.62since Dec 2024
Worst fallMax drawdown, 5 years: AVDE −28.5%PIEQ −15.2%since Nov 2024
Market sensitivityBeta, 5 years: AVDE 0.80PIEQ 0.47; Market = 1

AVDE and PIEQ 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 PIEQ

In short

Stated mandate

Why people hold it