AVEM vs TEMR

AVEMAAvantis Emerging Markets Equity ETF

TEMRBT. Rowe Price Emerging Markets Equity Research ETF

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.

TEMR T. Rowe Price's first emerging-markets ETF hands stock picking to its own analysts, then boxes them in: country, sector and industry weights track the MSCI Emerging Markets Index, so active bets happen inside each bucket, not across them.

Stated mandate

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

TEMR The fund invests primarily in equity securities of emerging-market issuers, using bottom-up stock selection and fundamental research while seeking returns above the MSCI Emerging Markets Index.

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.

• TEMR At 0.40% a year it undercuts the typical active EM fund in its peer group (median 0.65%), though index-flavored rivals like AVEM and DFEM run cheaper still.troweprice.com
• Country, sector and industry weights sit close to the MSCI Emerging Markets index, so results ride on stock selection inside each bucket rather than big top-down country calls.troweprice.com
• Six portfolio managers sit on top of T. Rowe's global analyst bench, running the same structured research process behind its US and international research ETFs (TSPA, TIER).troweprice.com
• Fully transparent: holdings are disclosed daily, unlike T. Rowe's semi-transparent equity ETFs, which publish a proxy basket instead.troweprice.comtroweprice.com 2

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.

• TEMR It started trading in 2026, so there is no long record showing how the analysts' picks stack up against the index.troweprice.com
• Small and thinly traded so far, so spreads can be wider than on the giant passive EM funds.
• Staying near index country and sector weights cuts both ways: T. Rowe notes the fund can reallocate less freely than active funds with looser mandates.troweprice.comtroweprice.com 2

Full AVEM profile⁠

Full TEMR profile⁠