AVDS vs GIEQ: Grades, Fees and Holdings Compared

Avantis International Small Cap Equity ETF

AVDSANYSE Arca

Goldman Sachs Data Enhanced International Equity ETF

GIEQANasdaq

Overlap

3.5%by weight

Expense ratio

AVDS0.30%GIEQ0.30%

Avg volume · 30D

AVDS 1.4×the volume

AVDS24.9KGIEQ18K

AVDS vs GIEQ Performance

Jul 31, 2026 – Oct 30, 2026

0.0%AVDS−2.6%GIEQ

Expense ratio: AVDS 0.30%; GIEQ 0.30%
Fund size: AVDS $374M; GIEQ $62M
1Y total return: AVDS +16.7%; GIEQ No data
Yield (12M): AVDS 2.66%; GIEQ No data
Holdings: AVDS 3124; GIEQ 300
Avg volume (30D): AVDS 24.9K sh, better; GIEQ 18K sh
NAV per share: AVDS $76.06; GIEQ $41.26
52W range

ETF.net Grade

Pillar letters and Scores for AVDS, GIEQ, with each pillar’s weight
Pillar	AVDS	GIEQ
Cost30% weight	A89	A89
Mission25% weight	Not scored	Not scored
Risk15% weight	B64	B69Higher
Tradability15% weight	B66Higher	D39
Holdings10% weight	A90Higher	A79
Durability5% weight	B69Higher	C46

Rank among International Active Equity funds

How we build Categories ›

Same Category. AVDS and GIEQ 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 ›

AVDS ranks 4th and GIEQ 8th of 55 funds in the International Active Equity Category.

Rank 1AAVDEAvantis International Equity ETFScore 87
Rank 1ADFICDimensional International Core Equity 2 ETFScore 87
Rank 3AJIREJPMorgan International Research Enhanced Equity ETFScore 79
Rank 4AAVDSAvantis International Small Cap Equity ETFScore 78
Rank 5AENHIiShares Enhanced International Active ETFScore 76
Rank 7AAVNMAvantis All International Markets Equity ETFScore 72
Rank 8AGIEQGoldman Sachs Data Enhanced International Equity ETFScore 70
Rank 9BTOUST. Rowe Price International Equity ETFScore 68

Our read on each fund

ETF.net Research

AVDSAAvantis International Small Cap Equity ETF

GIEQAGoldman Sachs Data Enhanced International 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.

GIEQ Goldman's quant desk pointed its data-driven stock picking at developed markets outside the US: roughly 300 names, models doing the selecting, 0.30% a year. Active international at close to index-fund pricing.

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.

GIEQ The Fund seeks long-term growth of capital.

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.

GIEQ Charges 0.30% a year, roughly half the typical fee in its active international peer group (cohort median 0.59%).
Actively run off Goldman's quantitative models rather than a rulebook index, with the stated aim of outdoing a developed ex-US benchmark.gs.com
Broad by design: about 300 holdings, at least 80% of net assets in non-US issuers, spread across large and mid caps.gs.com
Plain 1940 Act ETF structure. No leverage, no options overlay, no exotic flags, so stock selection is the only moving part.

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.

GIEQ Launched in 2026 with a small asset base and thin early trading, so there is no long record yet and limit orders matter more than in a giant fund.
Cheap for active, not the cheapest on the shelf: systematic rivals DFIC, AVDE and JIRE all price under 0.25%.
The mandate is long-term growth of capital, not income, and the fund has not been paying out distributions.

Full AVDS profile⁠

Full GIEQ profile⁠

AVDS vs GIEQ Holdings

How AVDS and GIEQ differ

Overlap by weight

3.5%

Shared holdings make up 11.1% of GIEQ and 4.2% of AVDS.

Level by level

Holdings77 in both3.5%
Countryby domicile69.1%
Asset classEquity100%

Sector

No Sector split for GIEQ.

Country, concentration and asset class

Country by domicile

Country weights in AVDS and GIEQ, widest gap first
Country	More in AVDSMore in GIEQ	AVDS	GIEQ
Canada	AVDS +11.0 points	11.0%	0.0%
France	GIEQ +7.9 points	3.0%	10.8%
Japan	AVDS +7.8 points	32.9%	25.1%
Switzerland	GIEQ +5.9 points	3.8%	9.7%
Germany	GIEQ +5.8 points	3.7%	9.5%
Netherlands	GIEQ +4.4 points	1.2%	5.6%
Israel	AVDS +3.5 points	3.7%	0.2%
United Kingdom	GIEQ +2.7 points	10.5%	13.2%
Other countries (23)	AVDS +4.3 points	30.2%	25.9%

Outside the US: AVDS 96% developed, 4% emerging. GIEQ 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

AVDS2.2%
GIEQ15.7%

Securities held

AVDS3,109
GIEQ294

Asset class

AVDS: Equity
GIEQ: Equity

Holdings

Only in AVDS3,032
In both77
Only in GIEQ217

Only in AVDS

3,032 securities, 96.2% of AVDS by weight

Hiscox Ltd Common Stock GBP.0650.23%
Lion Finance Group PLC Common Stock GBP.010.23%
Whitbread PLC Common Stock GBP.7679740.23%
Dcc Energy PLC Common Stock EUR.250.23%
Howden Joinery Group PLC Common Stock GBP.10.23%
Balfour Beatty PLC Common Stock GBP.50.22%
Wpp PLC Sponsored Adr Adr0.22%
Finning International Inc Common Stock0.22%
Dpm Metals Inc Common Stock0.21%
Autotrader Group PLC Common Stock GBP.010.21%
Enlight Renewable Energy Ltd Common Stock ILS.010.21%
South Bow Corp Common Stock Npv0.21%
B2GOLD Corp Common Stock0.20%
Prairiesky Royalty Ltd Common Stock0.20%
Clal Insurance Enterpr Hldgs Common Stock ILS1.00.20%
Venture Corp Ltd Common Stock0.19%
Aixtron SE Common Stock0.19%
Westgold Resources Ltd Common Stock0.19%
Perseus Mining Ltd Common Stock0.19%
Rightmove PLC Common Stock GBP.0010.19%
Oceanagold Corp Common Stock0.19%
Ringkjoebing Landbobank A/S Common Stock DKK1.00.19%
Descartes Systems Grp/The Common Stock0.19%
Cleanaway Waste Management L Common Stock0.19%
Do & Co AG Common Stock0.19%
Man Group Plc/Jersey Common Stock USD.034285710.18%
Definity Financial Corp Common Stock0.18%
Canadian Tire Corp Class A Common Stock0.18%
Glenveagh Properties PLC Common Stock EUR.0010.18%
Barratt Redrow PLC Common Stock GBP.10.18%
Rotork PLC Common Stock GBP.0050.18%
Vallourec SA Common Stock EUR.020.18%
Azimut Holding Spa Common Stock0.18%
Tel Aviv Stock Exchange Ltd Common Stock0.18%
Games Workshop Group PLC Common Stock GBP.050.18%
Kobe Steel Ltd Common Stock0.18%
Vault Minerals Ltd Common Stock0.18%
Eldorado Gold Corp Common Stock0.17%
Discovery Mining Ltd Common Stock0.17%
Iamgold Corp Common Stock0.17%
Hokuhoku Financial Group Inc Common Stock0.17%
Rs Group PLC Common Stock GBP.10.17%
Ssr Mining Inc Common Stock0.17%
Capstone Copper Corp Common Stock0.17%
Seiko Group Corp Common Stock0.17%
Teleperformance Common Stock EUR2.50.17%
Sig Group AG Common Stock CHF.010.17%
Burberry Group PLC Common Stock GBP.00050.17%
J Front Retailing Co Ltd Common Stock0.17%
Tamarack Valley Energy Ltd Common Stock0.17%

Only in GIEQ

217 securities, 88.6% of GIEQ by weight

Asml Holding N.v.3.36%
Roche Holding AG2.25%
Siemens AG Reg Shs1.55%
Bhp Group Limited1.34%
Mitsubishi Ufj Financial Group1.34%
Nestle S.a.1.28%
Allianz SE1.24%
Ubs Group AG1.19%
Unilever PLC1.19%
Hsbc Holdings PLC0.96%
Safran SA0.95%
Sony Group Corporation0.95%
Totalenergies SE0.94%
Lvmh Moet-Hennessy Louis0.93%
National Grid PLC0.92%
Deutsche Telekom AG0.92%
Compagnie Financiere Richemont SA0.91%
Sanofi0.89%
Rolls-Royce Holdings PLC0.88%
Axa0.88%
Novartis AG Shs0.85%
Industria De Diseno Textil, S.a.0.85%
Sap SE0.84%
Shell PLC0.84%
Astrazeneca PLC Ord0.82%
Unicredit, Societa' Per Azioni0.77%
Bnp Paribas0.77%
Lloyds Banking Group PLC0.77%
Banco Bilbao Vizcaya0.77%
Tokyo Electron Ltd0.76%
Muenchener Rueckvers.ges.ag0.75%
Rio Tinto Limited0.75%
Macquarie Group Limited0.74%
Aia Group Limited0.73%
Nordea Bank Abp0.72%
Bp PLC0.72%
Siemens Energy AG0.70%
Westpac Banking Corporation0.69%
Advantest Corp0.68%
Fresenius SE & Co. Kgaa0.67%
Dhl Group0.65%
Japan Tobacco Inc.0.64%
Essilorluxottica0.63%
Banco Santander, S.a.0.63%
Thales0.62%
Novo Nordisk A/S0.62%
Investor Aktiebolag0.62%
Imperial Brands PLC0.62%
Panasonic0.62%
Mitsubishi Corp.0.60%

Weight gaps

All 77 Holdings in both funds, largest gap first.

Holding weights in AVDS and GIEQ, widest gap first
Holding	More in AVDSMore in GIEQ	AVDS	GIEQ
Icg PLC Common Stock GBP.2625ICP.L	GIEQ +0.49 points	0.02%	0.51%
Vontobel Holding AG Reg Common Stock CHF1.0	GIEQ +0.41 points	0.10%	0.51%
Doutor Nichires Holdings Co Common Stock	GIEQ +0.38 points	0.02%	0.40%
Phc Holdings Corp Common Stock	GIEQ +0.26 points	<0.01%	0.27%
Dic Corp Common Stock	GIEQ +0.26 points	0.11%	0.37%
Sato Corp Common Stock	GIEQ +0.24 points	0.02%	0.26%
Conduit Holdings Ltd Common StockCRE.L	GIEQ +0.23 points	0.03%	0.26%
Avex Inc Common Stock	GIEQ +0.22 points	<0.01%	0.23%
Bank of The Ryukyus Ltd Common Stock	GIEQ +0.21 points	0.04%	0.25%
Mitsubishi Research Institut Common Stock	GIEQ +0.21 points	<0.01%	0.22%
Van Lanschot Kempen NV Cva Dutch Cert EUR1.0	GIEQ +0.22 points	0.05%	0.27%
Academedia Ab Common Stock SEK1.0	GIEQ +0.21 points	0.04%	0.25%
Sesa Spa Common Stock	GIEQ +0.21 points	0.03%	0.24%
Daiho Corp Common Stock	GIEQ +0.20 points	<0.01%	0.20%
S Foods Inc Common Stock	GIEQ +0.20 points	0.01%	0.21%
K’s Holdings Corp Common Stock	GIEQ +0.19 points	0.05%	0.24%
Cosel Co Ltd Common Stock	GIEQ +0.19 points	<0.01%	0.19%
Monadelphous Group Ltd Common Stock	GIEQ +0.16 points	0.09%	0.25%
Avolta AG Common Stock CHF5.0	GIEQ +0.16 points	0.02%	0.18%
Mycronic Ab Common Stock	GIEQ +0.13 points	0.01%	0.14%
Wihlborgs Fastigheter Ab Common Stock SEK2.5	GIEQ +0.12 points	0.08%	0.20%
Central Security Patrols Co Common Stock	GIEQ +0.12 points	<0.01%	0.12%
Hafnia Ltd Common Stock USD.01	AVDS +0.11 points	0.19%	0.08%
Mitsui High Tec Inc Common Stock	GIEQ +0.12 points	0.02%	0.14%
Umicore Common Stock	AVDS +0.12 points	0.21%	0.09%
Saf Holland SE Common Stock EUR.01	GIEQ +0.11 points	0.05%	0.16%
Ascom Holding AG Reg Common Stock CHF.5	GIEQ +0.11 points	<0.01%	0.12%
Jtekt Corp Common Stock	GIEQ +0.10 points	0.12%	0.22%
Aizawa Securities Group Co L Common Stock	GIEQ +0.10 points	<0.01%	0.11%
Autoneum Holding AG Common Stock CHF.05	GIEQ +0.10 points	0.01%	0.11%
Dermapharm Holding SE Common Stock	GIEQ +0.09 points	0.02%	0.11%
Daishi Hokuetsu Financial Gr Common Stock	GIEQ +0.09 points	0.14%	0.23%
Grafton Group PLC Uts Cdi Unit EUR.05GFTU.L	GIEQ +0.08 points	0.09%	0.17%
Wacker Neuson SE Common Stock	GIEQ +0.08 points	0.03%	0.11%
Sbm Offshore NV Common Stock EUR.25	GIEQ +0.08 points	0.14%	0.22%
Tohoku Electric Power Co Inc Common Stock	AVDS +0.08 points	0.16%	0.08%
Doshisha Co Ltd Common Stock	GIEQ +0.08 points	0.01%	0.09%
Softcat PLC Common Stock GBP.0005SCT.L	AVDS +0.08 points	0.14%	0.06%
Fuji Corp/Aichi Common Stock	AVDS +0.08 points	0.13%	0.05%
Santen Pharmaceutical Co Ltd Common Stock	AVDS +0.08 points	0.10%	0.02%
Tkh Group NV Cva Dutch Cert EUR.25	GIEQ +0.07 points	0.06%	0.13%
Sato Shoji Corp Common Stock	GIEQ +0.07 points	<0.01%	0.08%
Inficon Holding AG Reg Common Stock CHF5.0	AVDS +0.08 points	0.17%	0.09%
Sthree PLC Common StockSTEM.L	GIEQ +0.07 points	0.02%	0.09%
B2 Impact Asa Common Stock NOK.1	GIEQ +0.07 points	0.02%	0.09%
Synsam Group Ab Common Stock SEK.013447	GIEQ +0.07 points	0.03%	0.10%
Ansell Ltd Common Stock	GIEQ +0.06 points	0.17%	0.23%
Nsk Ltd Common Stock	GIEQ +0.06 points	0.11%	0.17%
Polar Capital Holdings PLC Common Stock GBP.025POLR.L	GIEQ +0.07 points	0.04%	0.11%
Koninklijke Heijmans NV Cva Dutch Cert EUR.3	GIEQ +0.05 points	0.07%	0.12%
Jsp Corp Common Stock	GIEQ +0.06 points	0.01%	0.07%
Amplifon Spa Common Stock EUR.02	GIEQ +0.05 points	0.06%	0.11%
Nachi Fujikoshi Corp Common Stock	GIEQ +0.06 points	0.01%	0.07%
Osg Corp Common Stock	GIEQ +0.05 points	0.07%	0.12%
Codan Ltd Common Stock	AVDS +0.05 points	0.13%	0.08%
Corticeira Amorim SA Common Stock EUR1.0	GIEQ +0.04 points	<0.01%	0.05%
Hoist Finance Ab Common Stock SEK.3333333	GIEQ +0.04 points	0.05%	0.09%
Secure Trust Bank PLC Common StockSTB.L	GIEQ +0.04 points	0.01%	0.05%
M P Evans Group PLC Common Stock GBP.1MPE.L	GIEQ +0.04 points	0.04%	0.08%
Tri Chemical Laboratories In Common Stock	GIEQ +0.04 points	<0.01%	0.04%
Nippon Thompson Co Ltd Common Stock	GIEQ +0.04 points	0.02%	0.06%
Daito Pharmaceutical Co Ltd Common Stock	GIEQ +0.03 points	<0.01%	0.04%
Shizuoka Gas Co Ltd Common Stock	GIEQ +0.03 points	<0.01%	0.03%
Sinch Ab Common Stock SEK.1	AVDS +0.03 points	0.09%	0.06%
Tadano Ltd Common Stock	GIEQ +0.03 points	0.03%	0.06%
Ncab Group Ab Common Stock SEK.01	GIEQ +0.03 points	0.05%	0.08%
Huhtamaki Oyj Common Stock	AVDS +0.02 points	0.10%	0.08%
Chiyoda Integre Co Ltd Common Stock	GIEQ +0.03 points	<0.01%	0.03%
Addlife Ab B Common Stock SEK2.037	GIEQ +0.02 points	0.09%	0.11%
Iwatani Corp Common Stock	AVDS +0.03 points	0.08%	0.05%
Schott Pharma Ag+ Co Kgaa Common Stock EUR1.0	GIEQ +0.01 points	0.05%	0.06%
Unipres Corp Common Stock	GIEQ +0.02 points	0.01%	0.03%
Modern Times Group B Shs Common Stock SEK5.0	GIEQ +0.01 points	<0.01%	0.01%
Georgia Capital PLC Common Stock GBP.01CGEO.L	GIEQ +0.01 points	0.06%	0.07%
Louis Hachette Group Common Stock EUR.2	Same weight	0.06%	0.06%
77 Bank Ltd/The Common Stock	Same weight	0.09%	0.09%
Uacj Corp Common Stock	Same weight	0.07%	0.07%

All 3,086 AVDS holdings⁠All 295 GIEQ 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.

AVDS vs GIEQ Cost

Same expense ratio

$6,149

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

AVDS 0.30%
$6,149
GIEQ 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

AVDS 0.30%
GIEQ 0.30%

Year by year

Year	AVDS	GIEQ
10	$545	$545
20	$2,113	$2,113
30	$6,149	$6,149

Expense ratio

0.30%AVDS
0.30%GIEQ

AVDS0.30%GIEQ0.30%

0.00%1.49%

Middle half of International Active Equity funds
Median 0.55%

AVDS 6th cheapest of 55 funds

GIEQ 6th cheapest of 55 funds

AVDS vs GIEQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVDS 2.66%; GIEQ No data
Payout (12M): AVDS $2.03; GIEQ None
Last payment: AVDS $0.28; GIEQ No data
Ex-dividend: AVDS Sep 8, 2026; GIEQ No data
Paid on: AVDS Sep 10, 2026; GIEQ No data
Frequency: AVDS Quarterly; GIEQ No data

Distribution history

Per share, 2023 to 2026, same scale for both

AVDSQuarterly · 8 paymentsAll AVDS payments⁠

GIEQAll GIEQ payments⁠

No distribution history available.

AVDS vs GIEQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVDS 14.2%GIEQ No data
Return per unit of riskSharpe ratio, 3 years: AVDS 1.18GIEQ No data
Worst fallMax drawdown, 5 years: AVDS −13.5%since Jul 2023GIEQ No data
Market sensitivityBeta, 5 years: AVDS 0.73GIEQ 0.32; Market = 1

AVDS and GIEQ in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026GIEQ
ETF Filings
Goldman files a second GEMQ booklet; sibling GIEQ has traded since May
Sep 9, 2026GIEQ

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AVDS vs GIEQ

In short

Stated mandate

Why people hold it

Worth knowing

How AVDS and GIEQ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVDS

Only in GIEQ

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two enhanced ETFs to absorb its international core funds

Goldman files a second GEMQ booklet; sibling GIEQ has traded since May

How AVDS and GIEQ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVDS

Only in GIEQ

Weight gaps