AVES vs EMMF: Grades, Fees and Holdings Compared

Avantis Emerging Markets Value ETF

AVESANYSE Arca

WisdomTree Emerging Markets Multifactor Fund

EMMFDNYSE Arca

Overlap

13.8%by weight

Expense ratio

AVES −0.12pt a year

AVES0.36%EMMF0.48%

Avg volume · 30D

AVES 7.2×the volume

AVES98.2KEMMF13.6K

5Y return · a year

EMMF +1.1pt

AVES+7.5%EMMF+8.6%

AVES vs EMMF Performance

Oct 29, 2021 – Oct 30, 2026

+43.3%AVES+51.1%EMMF

Expense ratio: AVES 0.36%, better; EMMF 0.48%
Fund size: AVES $1.45B; EMMF $180M
1Y total return: AVES +7.8%; EMMF +11.4%, better
Yield (12M): AVES 3.69%, better; EMMF 1.45%
Holdings: AVES 1998; EMMF 225
Avg volume (30D): AVES 98.2K sh, better; EMMF 13.6K sh
NAV per share: AVES $60.00; EMMF $34.68
52W range

ETF.net Grade

Pillar letters and Scores for AVES, EMMF, with each pillar’s weight
Pillar	AVES	EMMF
Cost30% weight	B68Higher	D37
Mission25% weight	Not scored	Not scored
Risk15% weight	C52Higher	C48
Tradability15% weight	A92Higher	F20
Holdings10% weight	A88Higher	C53
Durability5% weight	B57Higher	C41

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. AVES and EMMF are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

Emerging Markets Multifactor⁠

Category · 20 funds

See all 20 ›

AVES ranks 2nd and EMMF 15th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 3AFDEMFidelity Emerging Markets Multifactor ETFScore 70
Rank 14CMFEMPIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETFScore 41
Rank 15DEMMFWisdomTree Emerging Markets Multifactor FundScore 38
Rank 16DECONColumbia Research Enhanced Emerging Economies ETFScore 36

Our read on each fund

ETF.net Research

AVESAAvantis Emerging Markets Value ETF

EMMFDWisdomTree Emerging Markets Multifactor Fund

In short

AVES Avantis starts with the emerging markets universe and tilts it: cheap valuations, profitable companies, roughly 1,800 names from megacaps down to small caps. Broad EM exposure with a deliberate value-and-quality slant, priced under the typical multifactor rival.

EMMF EMMF scores emerging-markets stocks on value, quality and momentum together, then holds the winners in one roughly 240-name portfolio. A single-ticket factor blend from WisdomTree, live since 2018, priced at the middle of its peer group.

Stated mandate

AVES The fund seeks long-term capital appreciation.

EMMF The fund seeks capital appreciation through primarily investing in emerging-markets equity securities selected using composite multifactor scores.

Why people hold it

AVES Charges 0.36% a year, below the 0.48% median for emerging markets multifactor funds. EM is where fee gaps usually run widest.
Two screens, not one: it tilts toward cheap valuations and toward high profitability, so the deep-value bucket gets a quality filter on the way in.avantisinvestors.com
Roughly 1,800 holdings across the MSCI Emerging Markets IMI Value opportunity set, meaning small caps ride along rather than getting screened out.
Portfolio build sits in the top quartile of its EM multifactor peer group in our review, and the fund is a multi-billion-dollar, regularly traded name.

EMMF Three factors in one wrapper: value, quality and momentum scored into a single composite, instead of bolting separate EM sleeves together.wisdomtree.com
The 0.48% expense ratio lands exactly at the median for emerging-markets multifactor funds. No premium for the factor machinery.
Spreads across roughly 240 emerging-markets names and pays quarterly, so no single country or company story dominates the sleeve.
Trading since 2018, which means a real-money record through several full emerging-markets cycles rather than a backtest.

Worth knowing

AVES Value in emerging markets means leaning into cheaper, cyclical corners of the market, plus currency swings. A bumpier ride than a plain broad EM index.
Cost is not the floor here: peer EMGF runs a multifactor EM portfolio for 0.26%, ten basis points less.
Launched in 2021, so its live record is shorter than the older EM factor funds it lines up against.

EMMF Thinly traded and small next to the giants of the category, so bid-ask spreads and trade timing carry more weight here.
Cheaper factor rivals sit on the same shelf: EMGF at 0.26% and AVES at 0.36% run the same EM factor idea for less.
Our review puts it in the lower half of its emerging-markets multifactor group, mostly on cost-versus-peers, tradability and portfolio construction.

Full AVES profile⁠

Full EMMF profile⁠

AVES vs EMMF Holdings

How AVES and EMMF differ

Overlap by weight

13.8%

Shared holdings make up 29.7% of EMMF and 19.3% of AVES.

Level by level

Holdings82 in both13.8%
Sector11 Sectors78.1%
Countryby domicile88.3%
Asset classEquity100%

Sector

Sector weights in AVES and EMMF, widest gap first
Sector	More in AVESMore in EMMF	AVES	EMMF
Technology	EMMF +15.8 points	20.3%	36.1%
Financials	AVES +13.2 points	28.1%	14.9%
Industrials	AVES +5.7 points	13.2%	7.5%
Consumer Discretionary	EMMF +2.6 points	10.1%	12.7%
Communication	EMMF +1.6 points	4.8%	6.4%
Materials	AVES +1.3 points	8.0%	6.7%
Health Care	EMMF +1.1 points	3.0%	4.1%
Energy	AVES +1.1 points	5.2%	4.1%
Utilities	EMMF +0.6 points	1.5%	2.1%
Real Estate	AVES +0.6 points	1.9%	1.3%
Consumer Staples	EMMF +0.1 points	3.8%	3.9%

Country, concentration and asset class

Country by domicile

Country weights in AVES and EMMF, widest gap first
Country	More in AVESMore in EMMF	AVES	EMMF
Taiwan	AVES +4.1 points	29.8%	25.7%
Brazil	EMMF +3.9 points	3.8%	7.7%
China	AVES +3.6 points	17.6%	14.0%
India	EMMF +3.1 points	13.6%	16.7%
South Korea	AVES +1.9 points	20.4%	18.5%
Poland	EMMF +1.6 points	1.4%	3.0%
Mexico	EMMF +1.3 points	1.6%	2.9%
South Africa	EMMF +1.1 points	4.4%	5.5%
Other countries (11)	AVES +1.4 points	7.5%	6.1%

Outside the US: AVES 1% developed, 99% emerging. EMMF 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

AVES10.7%
EMMF29.4%

Securities held

AVES1,985
EMMF206

Asset class

AVES: Equity
EMMF: Equity

Holdings

Only in AVES1,903
In both82
Only in EMMF124

Only in AVES

1,903 securities, 80.7% of AVES by weight

Ase Technology Holding Adr Adr1.76%
Fubon Financial Holding Co Common Stock TWD10.01.37%
Hana Financial Group Common Stock KRW5000.01.15%
Innolux Corp Common Stock TWD10.01.11%
Cathay Financial Holding Co Common Stock TWD10.01.00%
Kb Financial Group Inc Adr Adr0.89%
Woori Financial Group Inc Common Stock KRW5000.00.84%
Zhen Ding Technology Holding Common Stock TWD10.00.83%
Shinhan Financial Group Adr Adr0.83%
Ts Financial Holding Co Ltd Common Stock TWD10.00.80%
Ctbc Financial Holding Co Lt Common Stock TWD10.00.78%
Kia Corp Common Stock KRW5000.00.76%
Uni President Enterprises Co Common Stock TWD10.00.61%
Anta Sports Products Ltd Common Stock HKD.10.60%
Vale SA Sp Adr Adr0.56%
Vanguard International Semi Common Stock TWD10.00.55%
S Oil Corp Common Stock KRW2500.00.55%
Mahindra & Mahindra Ltd Common Stock INR5.00.54%
Korea Investment Holdings Co Common Stock KRW5000.00.54%
Emaar Properties Pjsc Common Stock AED1.00.53%
United Integrated Services Common Stock TWD10.00.52%
King Yuan Electronics Co Ltd Common Stock TWD10.00.52%
Sigurd Microelectronics Corp Common Stock TWD10.00.51%
Meritz Financial Group Inc Common Stock KRW500.00.51%
Sk Innovation Co Ltd Common Stock KRW5000.00.49%
Larsen & Toubro Ltd Common Stock INR2.00.47%
Saudi Telecom Co Common Stock SAR10.00.47%
Coway Co Ltd Common Stock KRW500.00.45%
Gs Holdings Common Stock KRW5000.00.45%
Netease Inc Adr Adr USD.00010.43%
Standard Bank Group Ltd Common Stock ZAR.10.43%
Samsung Securities Co Ltd Common Stock KRW5000.00.43%
Infosys Ltd Sp Adr Adr0.41%
China Pacific Insurance Gr H Common Stock CNY1.00.41%
Tata Steel Ltd Common Stock INR1.00.41%
China Resources Power Holdin Common Stock0.41%
China Citic Bank Corp Ltd H Common Stock CNY1.00.41%
China Petroleum & Chemical H Common Stock CNY1.00.39%
Sinopac Financial Holdings Common Stock TWD10.00.38%
Kuaishou Technology Common Stock USD.00000530.38%
China Hongqiao Group Ltd Common Stock USD.010.37%
Sk Telecom Co Ltd Spon Adr Adr0.37%
Tripod Technology Corp Common Stock TWD10.00.37%
Elite Semiconductor Microele Common Stock TWD10.00.37%
L+k Engineering Co Ltd Common Stock TWD10.00.36%
Bajaj Finance Ltd Common Stock INR1.00.35%
Li Ning Co Ltd Common Stock HKD.10.35%
Iteq Corp Common Stock TWD10.00.34%
Ardentec Corp Common Stock TWD10.00.34%
Hcl Technologies Ltd Common Stock INR2.00.33%

Only in EMMF

124 securities, 70.0% of EMMF by weight

Taiwan Semiconductor Manufacturing Co Ltd8.39%
SK Hynix Inc5.29%
Samsung Electronics Co Ltd4.71%
Tencent Holdings Ltd3.02%
Alibaba Group Holding Ltd2.28%
MercadoLibre Inc1.51%
King Slide Works Co Ltd1.15%
Coupang Inc1.07%
ASE Technology Holding Co Ltd1.01%
MediaTek Inc1.00%
Advantech Co Ltd0.81%
Petroleo Brasileiro SA0.81%
Industrial & Commercial Bank of China-H0.79%
Grupo Mexico SAB de CV0.74%
Bank of China Ltd0.71%
Delta Electronics Inc0.71%
Wiwynn Corp0.68%
Ping An Insurance Group Co of China0.65%
Indian Hotels Co Ltd0.64%
Wuxi Apptec Co Ltd-H0.60%
Outsurance Group Ltd0.58%
Bid Corp Ltd0.58%
Chroma ATE Inc0.57%
Bosch Ltd0.56%
PKO Bank Polski SA0.56%
Accton Technology Corp0.55%
Bidvest Group Ltd0.54%
Global Unichip Corp0.52%
YTL Power International Bhd0.52%
Fsn E-Commerce Ventures Ltd0.51%
Yageo Corp0.51%
China Life Insurance Co Ltd0.50%
TMB Bank PCL - NVDR0.50%
Netease Inc0.49%
Multi Commodity Exch India0.49%
China Construction Bank-H0.49%
Oberoi Realty Ltd0.49%
Fomento Economico Mexicano SAB0.48%
Cadila Healthcare Ltd0.48%
Metropolitan Bank & Trust0.46%
Unimicron Technology Corp0.46%
APL Apollo Tubes Ltd0.45%
Motherson Sumi Systems Ltd0.45%
Pge SA0.44%
Marico Ltd0.44%
Bharti Infratel Ltd0.44%
Shinhan Financial Group Ltd0.44%
Siemens Energy India Ltd0.44%
Crompton Greaves Ltd0.43%
Hon Precision Inc0.42%

Weight gaps

All 82 Holdings in both funds, largest gap first.

Holding weights in AVES and EMMF, widest gap first
Holding	More in AVESMore in EMMF	AVES	EMMF
Hyundai Motor Co Common Stock KRW5000.0	EMMF +0.90 points	0.05%	0.95%
Asia Vital Components Common Stock TWD10.0	EMMF +0.71 points	0.19%	0.90%
Jsw Steel Ltd Common Stock INR1.0	EMMF +0.71 points	<0.01%	0.71%
Geely Automobile Holdings Lt Common Stock HKD.02	AVES +0.63 points	0.68%	0.05%
Tupras Turkiye Petrol Rafine Common Stock TRY1.0	EMMF +0.61 points	0.03%	0.64%
Lg Electronics Inc Common Stock KRW5000.0	AVES +0.58 points	0.95%	0.37%
Nedbank Group Ltd Common Stock ZAR1.0	EMMF +0.58 points	0.09%	0.67%
Bumrungrad Hospital Pcl Nvdr Nvdr THB1.0	EMMF +0.53 points	<0.01%	0.54%
Samsung Electro Mechanics Co Common Stock KRW5000.0	EMMF +0.52 points	0.01%	0.53%
Eicher Motors Ltd Common Stock INR1.0	EMMF +0.50 points	0.03%	0.53%
Vodacom Group Ltd Common Stock	EMMF +0.47 points	<0.01%	0.47%
Ammb Holdings Bhd Common Stock	EMMF +0.47 points	0.10%	0.57%
Shoprite Holdings Ltd Common Stock ZAR1.134	EMMF +0.45 points	0.04%	0.49%
Laurus Labs Ltd Common Stock INR2.0	EMMF +0.42 points	0.05%	0.47%
National Aluminium Co Ltd Common Stock INR5.0	EMMF +0.37 points	0.12%	0.49%
Wistron Corp Common Stock TWD10.0	AVES +0.36 points	0.77%	0.41%
Db Insurance Co Ltd Common Stock KRW500.0	EMMF +0.36 points	0.05%	0.41%
Grupo Financiero Banorte O Common Stock MXN3.5	AVES +0.35 points	0.61%	0.26%
Novatek Microelectronics Cor Common Stock TWD10.0	EMMF +0.35 points	0.05%	0.40%
Sk Inc Common Stock KRW200.0	EMMF +0.35 points	0.04%	0.39%
Mtn Group Ltd Common Stock ZAR.0001	AVES +0.34 points	0.46%	0.12%
Samsung Life Insurance Co Lt Common Stock KRW500.0	EMMF +0.35 points	0.01%	0.36%
Union Bank of India Common Stock INR10.0	EMMF +0.35 points	0.08%	0.43%
Apollo Hospitals Enterprise Common Stock INR5.0	EMMF +0.34 points	<0.01%	0.35%
Bb Seguridade Participacoes Common Stock	EMMF +0.34 points	0.03%	0.37%
Realtek Semiconductor Corp Common Stock TWD10.0	AVES +0.33 points	0.74%	0.41%
Hd Hyundai Common Stock KRW1000.0	AVES +0.33 points	0.33%	<0.01%
Aurobindo Pharma Ltd Common Stock INR1.0	EMMF +0.33 points	0.06%	0.39%
Lpp SA Common Stock PLN2.0	EMMF +0.32 points	0.10%	0.42%
Bank Pekao SA Common Stock PLN1.0	EMMF +0.32 points	0.16%	0.48%
Picc Property & Casualty H Common Stock CNY1.0	AVES +0.32 points	0.71%	0.39%
Bank of Baroda Common Stock INR2.0	EMMF +0.32 points	0.05%	0.37%
Chongqing Rural Commercial H Common Stock CNY1.0	EMMF +0.31 points	0.07%	0.38%
Wan Hai Lines Ltd Common Stock TWD10.0	EMMF +0.31 points	0.10%	0.41%
Gigabyte Technology Co Ltd Common Stock TWD10.0	EMMF +0.29 points	0.05%	0.34%
Cspc Pharmaceutical Group Lt Common Stock	AVES +0.29 points	0.59%	0.30%
Absa Group Ltd Common Stock ZAR2.0	AVES +0.28 points	0.29%	<0.01%
Elite Material Co Ltd Common Stock TWD10.0	EMMF +0.28 points	0.52%	0.80%
Bharat Petroleum Corp Ltd Common Stock INR10.0	EMMF +0.28 points	0.21%	0.49%
Chang Hwa Commercial Bank Common Stock TWD10.0	EMMF +0.27 points	0.15%	0.42%
Orlen SA Common Stock PLN1.25	EMMF +0.26 points	0.39%	0.65%
Huaneng Power Intl Inc H Common Stock CNY1.0	EMMF +0.23 points	0.23%	0.46%
United Microelectronics Corp Common Stock TWD10.0	AVES +0.23 points	0.70%	0.47%
Nanya Technology Corp Common Stock TWD10.0	EMMF +0.23 points	0.24%	0.47%
Bizlink Holding Inc Common Stock TWD10.0	EMMF +0.21 points	0.04%	0.25%
Federal Bank Ltd Foreign Common Stock INR2.0	EMMF +0.20 points	0.11%	0.31%
Hd Hyundai Heavy Industries Common Stock KRW5000.0	AVES +0.20 points	0.44%	0.24%
Indian Bank Common Stock INR10.0	EMMF +0.18 points	0.06%	0.24%
Asustek Computer Inc Common Stock TWD10.0	EMMF +0.18 points	0.18%	0.36%
Samsung Fire & Marine Ins Common Stock KRW500.0	EMMF +0.17 points	0.25%	0.42%
Prio SA Common Stock	AVES +0.16 points	0.41%	0.25%
Korean Air Lines Co Ltd Common Stock KRW5000.0	AVES +0.16 points	0.44%	0.28%
Mirae Asset Securities Co Lt Common Stock KRW5000.0	EMMF +0.17 points	0.03%	0.20%
China Nonferrous Mining Corp Common Stock	EMMF +0.16 points	0.18%	0.34%
Gold Circuit Electronics Ltd Common Stock TWD10.0	AVES +0.15 points	0.57%	0.42%
Yuanta Financial Holding Co Common Stock TWD10.0	EMMF +0.15 points	0.19%	0.34%
Hd Korea Shipbuilding & Offs Common Stock KRW5000.0	AVES +0.14 points	0.47%	0.33%
Bosideng Intl Hldgs Ltd Common Stock USD.00001	EMMF +0.14 points	0.22%	0.36%
New China Life Insurance C H Common Stock CNY1.0	AVES +0.12 points	0.29%	0.17%
Hyundai Rotem Company Common Stock KRW5000.0	EMMF +0.12 points	0.13%	0.25%
China Mengniu Dairy Co Common Stock HKD.1	EMMF +0.12 points	0.36%	0.48%
Mmg Ltd Common Stock	EMMF +0.10 points	0.30%	0.40%
Tingyi (Cayman Isln) Hldg Co Common Stock USD.005	EMMF +0.10 points	0.06%	0.16%
China Taiping Insurance Hold Common Stock	AVES +0.08 points	0.28%	0.20%
Evergreen Marine Corp Ltd Common Stock TWD10.0	EMMF +0.08 points	0.37%	0.45%
Eva Airways Corp Common Stock TWD10.0	EMMF +0.08 points	0.30%	0.38%
Lg Innotek Co Ltd Common Stock KRW5000.0	EMMF +0.08 points	0.18%	0.26%
Hyundai Glovis Co Ltd Common Stock KRW500.0	AVES +0.06 points	0.35%	0.29%
Bse Ltd Common Stock INR2.0	EMMF +0.06 points	0.07%	0.13%
Rhb Bank Bhd Common Stock	AVES +0.05 points	0.06%	<0.01%
Lupin Ltd Common Stock INR2.0	AVES +0.06 points	0.10%	0.04%
Bank Mandiri Persero Tbk Pt Common Stock IDR125.0	AVES +0.05 points	0.17%	0.12%
Samsung Heavy Industries Common Stock KRW1000.0	EMMF +0.04 points	0.31%	0.35%
Citic Ltd Common Stock	EMMF +0.04 points	0.34%	0.38%
Hankook Tire & Technology Co Common Stock KRW500.0	AVES +0.03 points	0.27%	0.24%
Vibra Energia SA Common Stock	EMMF +0.03 points	0.27%	0.30%
Winbond Electronics Corp Common Stock TWD10.0	AVES +0.02 points	0.50%	0.48%
Adani Power Ltd Common Stock INR2.0	AVES +0.02 points	0.07%	0.05%
Coal India Ltd Common Stock INR10.0	EMMF +0.02 points	0.23%	0.25%
Weichai Power Co Ltd H Common Stock CNY1.0	AVES +0.01 points	0.05%	0.04%
Rumo SA Common Stock	EMMF +0.02 points	0.15%	0.17%
Xp Inc Class A Common StockXP	AVES +0.01 points	0.22%	0.21%

All 1,973 AVES holdings⁠All 238 EMMF 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.

AVES vs EMMF Cost

Overpaying EMMF vs AVES

$2,285

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

AVES 0.36%
$7,320
EMMF 0.48%
$9,605

Amount$10,000

Years30 years

Cost over time

AVES 0.36%
EMMF 0.48%
Overpaying

Year by year

Year	AVES	EMMF	Overpaying
10	$652	$865	$213
20	$2,522	$3,328	$806
30	$7,320	$9,605	$2,285

Expense ratio

0.36%AVES, cheaper
0.48%EMMF

AVES0.36%EMMF0.48%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

AVES 8th cheapest of 20 funds

EMMF 13th cheapest of 20 funds

AVES vs EMMF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVES 3.69%, better; EMMF 1.45%
Payout (12M): AVES $2.23; EMMF $0.50
Last payment: AVES $0.62; EMMF $0.15
Ex-dividend: AVES Sep 8, 2026; EMMF Sep 25, 2026
Paid on: AVES Sep 10, 2026; EMMF Sep 29, 2026
Frequency: AVES Quarterly; EMMF Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

AVESQuarterly · 12 paymentsAll AVES payments⁠

EMMFQuarterly · 32 paymentsAll EMMF payments⁠

AVES vs EMMF Risk

Fall from peak · 5 years

AVES
EMMF

Risk facts

VolatilityStd dev, 3 years: AVES 14.7%EMMF 14.7%
Return per unit of riskSharpe ratio, 3 years: AVES 0.88, betterEMMF 0.87
Worst fallMax drawdown, 5 years: AVES −27.4%EMMF −22.9%, better
Market sensitivityBeta, 5 years: AVES 0.98EMMF 0.89; Market = 1

Popular comparisons

AVESAvsEMGFA
Avantis Emerging Markets Value ETF · iShares Emerging Markets Equity Factor ETF
Expense ratio
0.36% · 0.26%
Category
EMMFDvsEMGFA
WisdomTree Emerging Markets Multifactor Fund · iShares Emerging Markets Equity Factor ETF
Expense ratio
0.48% · 0.26%
Category
AVESAvsFDEMA
Avantis Emerging Markets Value ETF · Fidelity Emerging Markets Multifactor ETF
Expense ratio
0.36% · 0.25%
Category
EMMFDvsFDEMA
WisdomTree Emerging Markets Multifactor Fund · Fidelity Emerging Markets Multifactor ETF
Expense ratio
0.48% · 0.25%
Category
AVESAvsQEMMB
Avantis Emerging Markets Value ETF · State Street SPDR MSCI Emerging Markets StrategicFactors ETF
Expense ratio
0.36% · 0.30%
Category
EMMFDvsQEMMB
WisdomTree Emerging Markets Multifactor Fund · State Street SPDR MSCI Emerging Markets StrategicFactors ETF
Expense ratio
0.48% · 0.30%
Category