AVES vs UEVM: Grades, Fees and Holdings Compared

Avantis Emerging Markets Value ETF

AVESANYSE Arca

VictoryShares Emerging Markets Value Momentum ETF

UEVMCNasdaq

Overlap

12.4%by weight

Expense ratio

AVES −0.09pt a year

AVES0.36%UEVM0.45%

Avg volume · 30D

AVES 30.6×the volume

AVES98.2KUEVM3.21K

5Y return · a year

UEVM +0.2pt

AVES+7.5%UEVM+7.7%

AVES vs UEVM Performance

Oct 29, 2021 – Oct 30, 2026

+43.3%AVES+44.7%UEVM

Expense ratio: AVES 0.36%, better; UEVM 0.45%
Fund size: AVES $1.45B; UEVM $233M
1Y total return: AVES +7.8%, better; UEVM +3.4%
Yield (12M): AVES 3.69%, better; UEVM 3.25%
Holdings: AVES 1998; UEVM 179
Avg volume (30D): AVES 98.2K sh, better; UEVM 3.21K sh
NAV per share: AVES $60.00; UEVM $56.21
52W range

ETF.net Grade

Pillar letters and Scores for AVES, UEVM, with each pillar’s weight
Pillar	AVES	UEVM
Cost30% weight	B68Higher	C42
Mission25% weight	Not scored	Not scored
Risk15% weight	C52	B58Higher
Tradability15% weight	A92Higher	C47
Holdings10% weight	A88Higher	A76
Durability5% weight	B57Higher	D39

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. AVES and UEVM 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 UEVM 10th 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 9BGEMGoldman Sachs ActiveBeta Emerging Markets Equity ETFScore 56
Rank 10CUEVMVictoryShares Emerging Markets Value Momentum ETFScore 50
Rank 11CEQLTiShares MSCI Emerging Markets Quality Factor ETFScore 46

Our read on each fund

ETF.net Research

AVESAAvantis Emerging Markets Value ETF

UEVMCVictoryShares Emerging Markets Value Momentum ETF

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.

UEVM Value and momentum usually pull in opposite directions. UEVM runs both at once, tracking an MSCI blend index that tilts a portfolio of emerging-market stocks toward the cheap names and the ones already working.

Stated mandate

AVES The fund seeks long-term capital appreciation.

UEVM The Fund seeks to track the performance of the MSCI Emerging Markets Select Value Momentum Blend Index before fees and expenses. Its strategy targets global emerging-market equities with greater exposure to value and momentum characteristics.

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.

UEVM Two factors, one ticker: the index leans emerging-market equities toward both value and momentum characteristics, so you aren't picking a side between cheap stocks and stocks with wind behind them.
Roughly 200 holdings spread across emerging markets, so no single company or story carries the fund. The portfolio construction is a relative strength here.
Rules-based and index-tracking since its 2017 launch. The factor tilts come from MSCI's published methodology, not a manager's gut call, and it has traded through several full emerging-market cycles.

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.

UEVM At 0.53% a year, it costs more than the typical multifactor emerging-market fund. EMGF (0.26%) and AVES (0.36%) run similar factor mandates for meaningfully less.
Thinly traded compared with its peer group, which tends to mean wider bid-ask spreads and more slippage on larger or hurried orders.
Distributions land on an irregular schedule rather than a fixed quarterly or monthly rhythm, so the income timing is unpredictable.

Full AVES profile⁠

Full UEVM profile⁠

AVES vs UEVM Holdings

How AVES and UEVM differ

Overlap by weight

12.4%

Shared holdings make up 40.7% of UEVM and 15.7% of AVES.

Level by level

Holdings74 in both12.4%
Countryby domicile61.7%
Sector11 Sectors80.9%
Asset classEquity100%

Sector

Sector weights in AVES and UEVM, widest gap first
Sector	More in AVESMore in UEVM	AVES	UEVM
Technology	AVES +11.6 points	20.3%	8.7%
Consumer Staples	UEVM +4.8 points	3.8%	8.6%
Utilities	UEVM +4.2 points	1.5%	5.7%
Communication	AVES +3.8 points	4.8%	1.0%
Industrials	AVES +3.8 points	13.2%	9.4%
Energy	UEVM +3.0 points	5.2%	8.2%
Real Estate	UEVM +2.0 points	1.9%	3.9%
Consumer Discretionary	UEVM +1.8 points	10.1%	11.9%
Financials	UEVM +1.4 points	28.1%	29.4%
Health Care	UEVM +1.2 points	3.0%	4.2%
Materials	UEVM +0.9 points	8.0%	8.9%

Country, concentration and asset class

Country by domicile

Country weights in AVES and UEVM, widest gap first
Country	More in AVESMore in UEVM	AVES	UEVM
South Korea	AVES +20.4 points	20.4%	0.0%
Taiwan	AVES +15.2 points	29.8%	14.6%
China	UEVM +14.0 points	17.6%	31.6%
Thailand	UEVM +9.4 points	1.4%	10.8%
Brazil	UEVM +3.5 points	3.8%	7.3%
South Africa	UEVM +2.1 points	4.4%	6.5%
Mexico	UEVM +2.0 points	1.6%	3.6%
Poland	UEVM +1.8 points	1.4%	3.2%
Other countries (12)	UEVM +2.6 points	19.7%	22.3%

Outside the US: AVES 1% developed, 99% emerging. UEVM 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

AVES10.7%
UEVM11.5%

Securities held

AVES1,985
UEVM174

Asset class

AVES: Equity
UEVM: Equity

Holdings

Only in AVES1,911
In both74
Only in UEVM100

Only in AVES

1,911 securities, 84.3% of AVES by weight

Ase Technology Holding Adr Adr1.76%
Hana Financial Group Common Stock KRW5000.01.15%
Cathay Financial Holding Co Common Stock TWD10.01.00%
Lg Electronics Inc Common Stock KRW5000.00.95%
Kb Financial Group Inc Adr Adr0.89%
Woori Financial Group Inc Common Stock KRW5000.00.84%
Shinhan Financial Group Adr Adr0.83%
Ctbc Financial Holding Co Lt Common Stock TWD10.00.78%
Wistron Corp Common Stock TWD10.00.77%
Kia Corp Common Stock KRW5000.00.76%
Realtek Semiconductor Corp Common Stock TWD10.00.74%
Geely Automobile Holdings Lt Common Stock HKD.020.68%
Uni President Enterprises Co Common Stock TWD10.00.61%
Grupo Financiero Banorte O Common Stock MXN3.50.61%
Anta Sports Products Ltd Common Stock HKD.10.60%
Cspc Pharmaceutical Group Lt Common Stock0.59%
Gold Circuit Electronics Ltd Common Stock TWD10.00.57%
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%
Hd Korea Shipbuilding & Offs Common Stock KRW5000.00.47%
Saudi Telecom Co Common Stock SAR10.00.47%
Mtn Group Ltd Common Stock ZAR.00010.46%
Coway Co Ltd Common Stock KRW500.00.45%
Gs Holdings Common Stock KRW5000.00.45%
Korean Air Lines Co Ltd Common Stock KRW5000.00.44%
Hd Hyundai Heavy Industries Common Stock KRW5000.00.44%
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%
Prio SA Common Stock0.41%
Infosys Ltd Sp Adr Adr0.41%
Tata Steel Ltd Common Stock INR1.00.41%
China Resources Power Holdin Common Stock0.41%
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%
China Mengniu Dairy Co Common Stock HKD.10.36%
Hyundai Glovis Co Ltd Common Stock KRW500.00.35%

Only in UEVM

100 securities, 59.0% of UEVM by weight

Tisco Financial Group Pcl1.50%
Nepi Rockcastle N.v.1.34%
Bank of Communications1.15%
China Merchants Bank Co L1.13%
Anand Rathi Wealth Ltd1.08%
Industrial & Commercial B1.05%
China Construction Bank1.05%
Bank of China Ltd1.03%
Kasikornbank Pcl1.02%
Sd Guthrie Bhd0.99%
Fomento Economico Mexican0.97%
Fibra Uno Administracion0.96%
Agricultural Bank of Chin0.94%
Coca-Cola Femsa Sab De Cv0.93%
Bangkok Bank Pcl0.91%
Growthpoint Properties Lt0.87%
Cgn Power Co Ltd0.85%
Cia Energetica De Minas G0.85%
Allegro.eu SA0.82%
Petroleo Brasileiro SA0.82%
Kiatnakin Bank Pcl0.81%
Krung Thai Bank Pcl0.81%
Kimberly-Cla M-A0.80%
Benefit Systems SA0.79%
Fsn E-Commerce Ventures L0.79%
Midea Group Co Ltd0.78%
Tsingtao Brewery Co Ltd0.78%
Central Pattana Pcl0.78%
Titan Co Ltd0.77%
Itausa - Investimentos It0.75%
Tmbthanachart Bank Pcl0.75%
Cosco Shipping Holdings C0.74%
Sona Blw Precision Forgin0.73%
China Shenhua Energy Co L0.73%
Haier Smart Home Co Ltd0.72%
Petrochina Co Ltd0.72%
Thanachart Capital Pcl0.72%
Gerdau SA0.72%
Ambev SA0.71%
Synnex Technology Interna0.70%
Charoen Pokphand Foods Pc0.69%
Pegatron Corp0.66%
Ping An Insurance Group C0.66%
Inner Mongolia Yitai Coal0.64%
Gulf Development Pcl0.64%
Ultrapar0.64%
Grupo Cibest SA0.61%
Cummins India Ltd0.61%
Ami Organics Ltd0.60%
Central Retail Corp Pcl0.59%

Weight gaps

All 74 Holdings in both funds, largest gap first.

Holding weights in AVES and UEVM, widest gap first
Holding	More in AVESMore in UEVM	AVES	UEVM
Postal Savings Bank of Chi H Common Stock CNY1.0	UEVM +1.13 points	<0.01%	1.13%
Rhb Bank Bhd Common Stock	UEVM +0.95 points	0.06%	1.01%
Innolux Corp Common Stock TWD10.0	AVES +0.89 points	1.11%	0.22%
Laurus Labs Ltd Common Stock INR2.0	UEVM +0.85 points	0.05%	0.90%
Sinopharm Group Co H Common Stock CNY1.0	UEVM +0.84 points	0.17%	1.01%
China Everbright Bank Co L H Common Stock CNY1.0	UEVM +0.78 points	0.05%	0.83%
Richter Gedeon Nyrt Common Stock HUF100.0	UEVM +0.75 points	0.10%	0.85%
Anhui Conch Cement Co Ltd H Common Stock CNY1.0	UEVM +0.75 points	<0.01%	0.75%
China Minsheng Banking Cor H Common Stock CNY1.0	UEVM +0.73 points	0.07%	0.80%
Aurobindo Pharma Ltd Common Stock INR1.0	UEVM +0.72 points	0.06%	0.78%
China Tower Corp Ltd H Common Stock CNY1.0	UEVM +0.71 points	0.33%	1.04%
Fuyao Glass Industry Group H Common Stock CNY1.0	UEVM +0.65 points	0.02%	0.67%
Eicher Motors Ltd Common Stock INR1.0	UEVM +0.65 points	0.03%	0.68%
Pepco Group NV Common Stock PLN.01	UEVM +0.65 points	0.05%	0.69%
Fubon Financial Holding Co Common Stock TWD10.0	AVES +0.60 points	1.37%	0.77%
Mol Hungarian Oil and Gas Pl Common Stock HUF125.0	UEVM +0.58 points	0.05%	0.63%
Tata Motors Passenger Vehicl Common Stock INR2.0	UEVM +0.57 points	<0.01%	0.57%
Zhen Ding Technology Holding Common Stock TWD10.0	AVES +0.57 points	0.83%	0.26%
Sime Darby Berhad Common Stock	UEVM +0.56 points	0.06%	0.62%
China Airlines Ltd Common Stock TWD10.0	UEVM +0.55 points	0.11%	0.66%
Lpp SA Common Stock PLN2.0	UEVM +0.54 points	0.10%	0.64%
Yuanta Financial Holding Co Common Stock TWD10.0	UEVM +0.54 points	0.19%	0.73%
Kgi Financial Holding Co Ltd Common Stock TWD10.0	UEVM +0.52 points	0.13%	0.65%
China Citic Bank Corp Ltd H Common Stock CNY1.0	UEVM +0.51 points	0.41%	0.92%
Adani Power Ltd Common Stock INR2.0	UEVM +0.50 points	0.07%	0.57%
Huaneng Power Intl Inc H Common Stock CNY1.0	UEVM +0.47 points	0.23%	0.70%
Foxconn Technology Co Ltd Common Stock TWD10.0	UEVM +0.47 points	0.03%	0.50%
Huatai Securities Co Ltd H Common Stock CNY1.0	UEVM +0.46 points	0.14%	0.60%
United Microelectronics Corp Common Stock TWD10.0	AVES +0.46 points	0.70%	0.24%
Sinopac Financial Holdings Common Stock TWD10.0	UEVM +0.46 points	0.38%	0.84%
China Petroleum & Chemical H Common Stock CNY1.0	UEVM +0.45 points	0.39%	0.84%
Bharat Heavy Electricals Common Stock INR2.0	UEVM +0.45 points	0.05%	0.50%
Alamtri Resources Indonesia Common Stock IDR100.0	UEVM +0.44 points	<0.01%	0.45%
Turk Hava Yollari Ao Common Stock TRY1.0	UEVM +0.45 points	0.05%	0.50%
Otp Bank PLC Common Stock HUF100.0	UEVM +0.43 points	0.15%	0.58%
United Tractors Tbk Pt Common Stock IDR250.0	UEVM +0.42 points	0.08%	0.50%
Eva Airways Corp Common Stock TWD10.0	UEVM +0.41 points	0.30%	0.71%
Himadri Speciality Chemical Common Stock INR1.0	UEVM +0.41 points	0.02%	0.43%
Gf Securities Co Ltd H Common Stock CNY1.0	UEVM +0.39 points	0.11%	0.50%
Tupras Turkiye Petrol Rafine Common Stock TRY1.0	UEVM +0.38 points	0.03%	0.41%
Yankuang Energy Group Co H Common Stock CNY1.0	UEVM +0.37 points	<0.01%	0.37%
Welspun Corp Ltd Common Stock INR5.0	UEVM +0.36 points	0.13%	0.49%
Vedanta Ltd Common Stock INR1.0	UEVM +0.35 points	0.11%	0.46%
Kirloskar Oil Engines Ltd Common Stock INR2.0	UEVM +0.35 points	0.02%	0.37%
X Trade Brokers Dom Maklersk Common Stock PLN.05	UEVM +0.34 points	0.06%	0.40%
Evergreen Marine Corp Ltd Common Stock TWD10.0	UEVM +0.34 points	0.37%	0.71%
Vibra Energia SA Common Stock	UEVM +0.33 points	0.27%	0.60%
Compal Electronics Common Stock TWD10.0	UEVM +0.32 points	0.03%	0.35%
Aspen Pharmacare Holdings Lt Common Stock ZAR.1390607	UEVM +0.32 points	0.14%	0.46%
Mbrf Global Foods Company SA Common Stock	UEVM +0.31 points	0.05%	0.36%
Apar Industries Ltd Common Stock INR10.0	UEVM +0.30 points	0.08%	0.38%
Auo Corp Common Stock TWD10.0	UEVM +0.28 points	0.04%	0.32%
China Galaxy Securities Co H Common Stock CNY1.0	UEVM +0.28 points	0.20%	0.48%
China Coal Energy Co H Common Stock CNY1.0	UEVM +0.27 points	0.17%	0.44%
National Aluminium Co Ltd Common Stock INR5.0	UEVM +0.27 points	0.12%	0.39%
Elite Material Co Ltd Common Stock TWD10.0	AVES +0.27 points	0.52%	0.25%
Citic Securities Co Ltd H Common Stock CNY1.0	UEVM +0.27 points	0.19%	0.46%
Winbond Electronics Corp Common Stock TWD10.0	AVES +0.26 points	0.50%	0.24%
Transcend Information Inc Common Stock TWD10.0	UEVM +0.26 points	0.03%	0.29%
People’s Insurance Co Grou H Common Stock CNY1.0	UEVM +0.25 points	0.29%	0.54%
Cmoc Group Ltd H Common Stock CNY.2	UEVM +0.21 points	0.06%	0.27%
Weichai Power Co Ltd H Common Stock CNY1.0	UEVM +0.21 points	0.05%	0.26%
Kinsus Interconnect Tech Common Stock TWD10.0	UEVM +0.21 points	0.09%	0.30%
China International Capita H Common Stock CNY1.0	UEVM +0.19 points	0.23%	0.42%
China Pacific Insurance Gr H Common Stock CNY1.0	UEVM +0.19 points	0.41%	0.60%
Aluminum Corp of China Ltd H Common Stock CNY1.0	UEVM +0.18 points	0.15%	0.33%
New China Life Insurance C H Common Stock CNY1.0	UEVM +0.15 points	0.29%	0.44%
Ts Financial Holding Co Ltd Common Stock TWD10.0	AVES +0.13 points	0.80%	0.67%
Wt Microelectronics Co Ltd Common Stock TWD10.0	UEVM +0.11 points	0.30%	0.42%
Orlen SA Common Stock PLN1.25	UEVM +0.10 points	0.39%	0.49%
L+k Engineering Co Ltd Common Stock TWD10.0	AVES +0.09 points	0.36%	0.27%
Holy Stone Enterprise Co Ltd Common Stock TWD10.0	UEVM +0.04 points	0.21%	0.25%
Picc Property & Casualty H Common Stock CNY1.0	AVES +0.03 points	0.71%	0.68%
Nanya Technology Corp Common Stock TWD10.0	AVES +0.02 points	0.24%	0.22%

All 1,973 AVES holdings⁠All 205 UEVM 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 UEVM Cost

Overpaying UEVM vs AVES

$1,721

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

AVES 0.36%
$7,320
UEVM 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

AVES 0.36%
UEVM 0.45%
Overpaying

Year by year

Year	AVES	UEVM	Overpaying
10	$652	$812	$160
20	$2,522	$3,128	$606
30	$7,320	$9,041	$1,721

Expense ratio

0.36%AVES, cheaper
0.45%UEVM

AVES0.36%UEVM0.45%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

AVES 8th cheapest of 20 funds

UEVM 12th cheapest of 20 funds

AVES vs UEVM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVES 3.69%, better; UEVM 3.25%
Payout (12M): AVES $2.23; UEVM $1.83
Last payment: AVES $0.62; UEVM $0.17
Ex-dividend: AVES Sep 8, 2026; UEVM Oct 8, 2026
Paid on: AVES Sep 10, 2026; UEVM Oct 9, 2026
Frequency: AVES Quarterly; UEVM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AVESQuarterly · 9 paymentsAll AVES payments⁠

UEVMMonthly · 35 paymentsAll UEVM payments⁠

AVES vs UEVM Risk

Fall from peak · 5 years

AVES
UEVM

Risk facts

VolatilityStd dev, 3 years: AVES 14.7%UEVM 11.3%, better
Return per unit of riskSharpe ratio, 3 years: AVES 0.88UEVM 1.04, better
Worst fallMax drawdown, 5 years: AVES −27.4%UEVM −26.3%, better
Market sensitivityBeta, 5 years: AVES 0.98UEVM 0.72; Market = 1

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