AVDE vs TLCI

AVDEAAvantis International Equity ETF

TLCIBTouchstone 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.

TLCI An international fund that behaves like a stock picker, not an index tracker: sub-adviser The London Company runs roughly 25 to 40 large non-US names chosen for balance sheet strength, at 0.37% net of a waiver through April 29, 2027.

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.

TLCI 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.

• TLCI Priced at 0.37% net of a waiver through April 29, 2027, below the median fee in its active international category.
• Typically holds about 25 to 40 companies, screened for cash return on tangible capital, balance sheet strength and a discount to estimated intrinsic value.sec.gov
• Buy-and-hold by design: the manager targets an average holding period near five years and aims to minimize turnover to reduce transaction costs and taxes.sec.gov
• At least 80% of assets sit in large-cap non-US equities under normal conditions, so the international mandate is written into policy, not just marketing.sec.gov

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.

• TLCI That 0.37% leans on a contractual waiver through April 29, 2027. The gross expense ratio is 1.01%, and waived amounts can be recouped later under the agreement.sec.gov
• A 25 to 40 stock book can invest a high percentage in one country or sector, so single names swing results far more than in funds holding thousands of stocks.sec.gov
• Launched in 2025 and thinly traded, with cheaper broad rivals nearby: AVDE at 0.23%, DFIC at 0.22%, and TACN at 0.00% net of a waiver through January 30, 2027.

Full AVDE profile⁠

Full TLCI profile⁠