AVDS vs AVNM

AVDSAAvantis International Small Cap Equity ETF

AVNMAAvantis All International Markets Equity ETF

In short

AVDS Avantis casts a wide net: roughly 3,000 non-US developed small caps, weighted with an eye on price, profitability and how much cash companies plow back in. Active management that looks a lot like an index fund with its thumb on the scale.

AVNM One ticker for the entire Avantis international playbook: developed and emerging markets, large caps down to small caps, tilted toward cheaper and more profitable companies. A fund of funds holding the firm's own ETFs, 0.31% all in.

Stated mandate

AVDS The ETF seeks long-term capital appreciation by investing in a broad group of non-U.S. small-cap companies and considering valuation, profitability, and investment levels when selecting and weighting securities.

AVNM The fund seeks long-term capital appreciation.

Why people hold it

• AVDS Charges 0.30% a year, about half the typical fee in its active international peer group. Cheap is a durable edge in a corner of the market where fees usually run high.
• Roughly 3,000 holdings, so no single stock or country steers the outcome. This is small-cap breadth, not a concentrated stock-picking bet.
• The tilts are the whole design: valuation, profitability and investment levels shape both what it owns and how much of each, measured against MSCI World ex USA Small Cap.avantisinvestors.com
• Sits among the strongest builds in a crowded field of active international equity funds. Broad, systematic, low-fee: the boxes that tend to stay ticked.

• AVNM One trade buys Avantis's whole non-US lineup: developed and emerging markets, large caps through small caps, assembled from the firm's own ETFs.sec.gov
• 0.31% all in, below the category median, and the prospectus fee table shows nearly all of that is the underlying funds' own expenses, not a second management layer.sec.gov
• Emerging markets are a built-in 30% target weight (range 15% to 40%), not a sleeve bolted onto a developed-markets core.sec.gov
• Sits in the upper tier of its active international peer group, helped by low cost and steady day-to-day tradability. Pays quarterly.

Worth knowing

• AVDS Thinly traded compared with the big international names. Limit orders and a look at the spread earn their keep here.
• Launched in 2023, so the live record is short even though the approach behind it is not new.
• Costs more than Avantis' broad international fund AVDE (0.23%). Small caps abroad are pricier to research and trade, and they swing harder.

• AVNM It is a wrapper: a short list of Avantis funds, one firm's research process end to end. Read the underlying funds' documents to see what you actually hold.sec.gov
• Cheaper peers exist, such as AVDE at 0.23% and TACN at 0.00% net of a waiver through January 30, 2027; AVNM's fee covers a broader multi-fund stack.
• Value and small-cap tilts plus the emerging-markets weight mean results can diverge from a plain cap-weighted international index in either direction.sec.gov

Full AVDS profile⁠

Full AVNM profile⁠