AVEM vs EMES

AVEMAAvantis Emerging Markets Equity ETF

EMESCHarbor Emerging Markets Select ETF (EMES)

In short

AVEM Emerging markets taken whole: roughly 3,900 stocks, large down to small, with an active tilt toward cheaper and more profitable companies. Avantis charges about half the typical active EM fee to do it.

EMES Harbor's active take on emerging markets: roughly 50 stocks instead of a sprawling index, priced at the middle of the active EM pack rather than the premium end. Launched in 2025.

Stated mandate

AVEM Seeks long-term capital appreciation by investing in a broad range of companies across emerging-market countries and all market capitalizations.

EMES The Fund invests primarily in equity securities, principally common stocks, of companies in emerging markets.

Why people hold it

• AVEM Fee is 0.33% a year against a 0.65% median for active emerging-markets funds, so the active tilt starts from a low-cost base.
• Owns roughly 3,900 names across the MSCI Emerging Markets IMI universe, including small caps, rather than a short stock-picker's list.avantisinvestors.com
• Active, but rules-driven: the portfolio leans toward lower valuations and higher profitability instead of relying on manager hunches.
• Running since 2019 and now a multi-billion-dollar, actively traded fund. One of the strongest implementations in its emerging-markets peer group.

• EMES Concentrated by design. Roughly 50 emerging-market stocks means each name actually moves the fund, unlike broad EM indexes where a single pick barely registers.
• At 0.65%, the fee lands right at the middle of actively managed EM funds. Active stock picking without the premium price tag some active EM shops charge.
• Its short life so far shows steadier drawdown and volatility behavior than most active EM rivals, and it grades out in the upper half of that peer group.

Worth knowing

• AVEM Emerging-market equity is a bumpy asset class, and returns arrive in dollars, so local currency swings add a second layer of movement.
• The value and profitability tilts are the whole point, which means the fund is built to drift from a plain market-cap EM index, sometimes for long stretches.
• No China carve-out: this one takes the full EM opportunity set. Avantis runs AVXC on the same approach for those who want it without China.

• EMES Launched in May 2025, so there is no full market cycle to judge. The risk picture rests on about a year of data, which is a thin sample for emerging markets.
• Small asset base and thin trading. Fewer shares changing hands can mean wider gaps between the buy and sell price, especially on larger orders.
• Systematic peers cost about half: AVEM and AVXC at 0.33%, DFEM at 0.39%. You are paying up for a concentrated stock-picking approach over broad quant exposure.

Full AVEM profile⁠

Full EMES profile⁠