AVDS vs ENHI

AVDSAAvantis International Small Cap Equity ETF

ENHIAiShares Enhanced International Active 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.

ENHI BlackRock's systematic desk pointed at developed international stocks: roughly 600 names selected by models, benchmarked to MSCI EAFE, at 0.27% a year. Index-fund pricing, active ambitions.

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.

ENHI The fund seeks to outperform the MSCI EAFE Index.

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.

• ENHI 0.27% a year is less than half the typical active international fund, and right in the neighborhood of systematic rivals AVDE (0.23%) and JIRE (0.24%).
• Rules and data do the picking, not hunch. Roughly 600 developed-market holdings means it behaves like a core EAFE-shaped allocation rather than a concentrated bet.blackrock.com
• The mandate is explicit: outperform the MSCI EAFE Index. No style drift to guess at, and a public yardstick to judge it against.sec.gov
• Stands among the stronger implementations in a crowded active international field, on cost and portfolio breadth.

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.

• ENHI Launched in 2026, so the models have a short live record. An active mandate can trail MSCI EAFE as easily as beat it.
• New funds start small and lightly traded, which shows up as wider bid-ask spreads until volume builds.
• Cash comes back once or twice a year, not monthly.

Full AVDS profile⁠

Full ENHI profile⁠