AVGE vs FORH

AVGEAAvantis All Equity Markets ETF

FORHFFormidable ETF

In short

AVGE Avantis's whole-world equity portfolio in one ticker: a fund built from its own factor ETFs across US, developed and emerging markets, tilted toward smaller and cheaper stocks, at 0.23% a year with no waiver involved.

FORH Most global equity funds hand you the whole market cheaply. FORH goes the other way: a concentrated, actively picked stock book with an optional tail hedge built from options and volatility-linked funds.

Stated mandate

AVGE The fund seeks long-term capital appreciation through a broadly diversified equity portfolio. It invests directly or through Avantis ETFs and emphasizes companies expected to offer higher returns or better risk characteristics than a passive, market-cap-weighted index.

FORH The Fund seeks long-term capital appreciation.

Why people hold it

• AVGE One ticker, the whole map: it owns a series of other Avantis ETFs spanning US, developed international and emerging markets.avantisinvestors.com
• 0.23% a year, below the typical global active equity fund, and that is the real number, not a temporary waiver.
• No closet indexing. The mandate emphasizes companies Avantis expects to offer higher returns or better risk traits than a passive, cap-weighted index.ifa.com
• Sits among the strongest implementations in its global active equity peer group, and it pays shareholders quarterly.

• FORH Two jobs in one wrapper: active stock selection plus a hedge the manager can switch on using put and call options, volatility-linked ETFs and ETNs.sec.govformidablefunds.com
• No index to hug. It is actively managed and non-diversified, so a handful of high-conviction names can carry the portfolio.sec.gov
• Running since 2021, so the strategy has a live record through real market swings rather than a backtest.formidablefunds.com

Worth knowing

• AVGE At the fund level you hold a handful of Avantis ETFs, so the stock-level diversification is look-through and one firm's research drives the entire stack.avantisinvestors.com
• The prospectus targets roughly 70% US equity (band 63% to 77%), so the geographic mix follows Avantis's policy rather than global market weights.ifa.com
• A close sibling, AVTM, covers total equity markets at 0.22% with no waiver attached.

• FORH The 1.19% fee sits well above the median for its global active-equity peers, where index-built rivals like GSWO and AVGE charge a fraction of that.
• Small and thinly traded, so spreads can be wider and larger orders may move the price more than in a giant index fund.
• Hedging is not free: options and volatility exposure can drag when markets climb steadily, and concentration cuts both ways.sec.govformidablefunds.com

Full AVGE profile⁠

Full FORH profile⁠