AVGE vs GLOW

AVGEAAvantis All Equity Markets ETF

GLOWCVictoryShares WestEnd Global Equity 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.

GLOW An actively managed, one-ticket global stock fund from Victory Capital's WestEnd team: US and overseas, developed and emerging, in a single line item. The trade-off is the price tag, 2.01% a year, near the top of the global-equity aisle.

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.

GLOW 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.

• GLOW One holding covers the world map. The prospectus mandate spans issuers outside the US across developed and emerging regions, with long-term capital appreciation as the stated goal.
• The portfolio has stayed close to the global, all-equity mandate its prospectus describes, so the label matches what you actually own.
• Human stock-picking rather than an index, run by Victory Capital's WestEnd team since the June 2024 launch, with cash paid out quarterly.

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.

• GLOW The fee is the headline: 2.01% a year, against 0.15% at GSWO and 0.25% at AVGE. That gap comes out of the fund's return every year, in every market.
• Thinly traded on a modest asset base, so spreads can widen at the open and close. Limit orders matter more here than with the giants of the category.
• Launched in 2024, so the risk record is short and covers only one stretch of market weather. Not much history to judge the process by yet.

Full AVGE profile⁠

Full GLOW profile⁠