AVGE vs KNOW

AVGEAAvantis All Equity Markets ETF

KNOWDFundamentals First 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.

KNOW Mason Capital ran this strategy in private funds for decades before wrapping it in an ETF: roughly 100 global businesses plus a bond sleeve, no single position over 5% at purchase. The fee is 1.10%, above the category norm.

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.

KNOW The Fund seeks income and capital growth.

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.

• KNOW A 5% cap per holding, measured at purchase, and the fund sells down anything that drifts above it. One company's bad news can dent this portfolio, not define it.sec.gov
• One ticket covers both sides of a portfolio: 65% to 90% in stocks, 10% to 35% in bonds, US and non-US, any market cap, ADRs for foreign names. Distributions come quarterly.sec.gov
• Long-only, low-turnover, buy-and-hold by design. Names come from company filings, industry data and management interviews rather than an index screen.cboe.comsec.gov
• About 100 holdings, so every pick has to earn its slot. No index to hug and no derivatives sleeve, just listed stocks and bonds.sec.gov

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.

• KNOW At 1.10% with no waiver, the fee sits above the category median (42 funds priced). Broad global-equity rivals AVTM (0.22%) and AVGE (0.23%) charge a fraction of it.
• A small fund that trades thinly, so spreads can run wide and size can move the price. Limit orders and patience matter more here than with a mega-cap index fund.
• Outcomes ride on one team's judgment: no benchmark to track, and the bond sleeve may hold any maturity or credit quality the managers pick.sec.gov

Full AVGE profile⁠

Full KNOW profile⁠