AVGE vs LENS: Grades, Fees and Holdings Compared

Avantis All Equity Markets ETF

AVGEANYSE Arca

Sarmaya Thematic ETF

LENSDCboe

Overlap

0.0%by weight

Expense ratio

AVGE −0.56pt a year

AVGE0.23%LENS0.79%

Avg volume · 30D

AVGE 7.9×the volume

AVGE82.7KLENS10.5K

AVGE vs LENS Performance

Oct 31, 2025 – Oct 30, 2026

+19.0%AVGE+27.0%LENS

Expense ratio: AVGE 0.23%, better; LENS 0.79%
Fund size: AVGE $1.26B; LENS $66M
1Y total return: AVGE +19.0%; LENS +27.0%, better
Yield (12M): AVGE 1.75%; LENS No data
Holdings: AVGE 15; LENS 49
Avg volume (30D): AVGE 82.7K sh, better; LENS 10.5K sh
NAV per share: AVGE $98.29; LENS $42.74
52W range

ETF.net Grade

Pillar letters and Scores for AVGE, LENS, with each pillar’s weight
Pillar	AVGE	LENS
Cost30% weight	A95Higher	D30
Mission25% weight	A74	Not scored
Risk15% weight	A71Higher	F23
Tradability15% weight	A83Higher	B63
Holdings10% weight	D35	C44Higher
Durability5% weight	A78Higher	D35

Rank among Global Active Equity funds

How we build Categories ›

Same Category. AVGE and LENS are both graded against the same 44 Global Active Equity funds, so their Grades compare head to head.

Global Active Equity⁠

Category · 44 funds

See all 44 ›

AVGE ranks 4th and LENS 31st of 44 funds in the Global Active Equity Category.

Rank 1AAVTMAvantis Total Equity Markets ETF 1Score 79
Rank 1ABDVLiShares Disciplined Volatility Equity Active ETFScore 79
Rank 1ADFAWDimensional World Equity ETFScore 79
Rank 4AAVGEAvantis All Equity Markets ETFScore 78
Rank 5ABFLXiShares Flexible Equity Active ETFScore 74
Rank 30DTOGATremblant Global ETFScore 38
Rank 31DLENSSarmaya Thematic ETFScore 37
Rank 32DMNVTMoonvest ETFScore 36

Our read on each fund

ETF.net Research

AVGEAAvantis All Equity Markets ETF

LENSDSarmaya Thematic 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.

LENS No data

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.

LENS No data

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.

LENS No data

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.

LENS No data

Full AVGE profile⁠

Full LENS profile⁠

AVGE vs LENS Holdings

How AVGE and LENS differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AVGE and 0.0% of LENS.

Level by level

Holdings0 in both0.0%
Sector11 Sectors36.1%
Countryby domicile65.5%
Asset classEquity100%

Sector

Sector weights in AVGE and LENS, widest gap first
Sector	More in AVGEMore in LENS	AVGE	LENS
Energy	LENS +41.0 points	8.5%	49.5%
Materials	LENS +22.8 points	4.7%	27.5%
Technology	AVGE +21.4 points	21.4%	0.0%
Consumer Discretionary	AVGE +11.1 points	11.1%	0.0%
Industrials	AVGE +10.1 points	12.4%	2.3%
Communication	AVGE +6.4 points	6.4%	0.0%
Health Care	AVGE +4.8 points	6.5%	1.7%
Consumer Staples	AVGE +4.5 points	4.5%	0.0%
Real Estate	AVGE +3.3 points	3.3%	0.0%
Utilities	AVGE +1.8 points	1.8%	0.0%
Financials	AVGE +0.5 points	19.5%	19.0%

Country, concentration and asset class

Country by domicile

Country weights in AVGE and LENS, widest gap first
Country	More in AVGEMore in LENS	AVGE	LENS
Canada	LENS +15.5 points	2.3%	17.8%
United States	AVGE +13.1 points	71.0%	57.9%
South Africa	LENS +5.4 points	0.5%	5.9%
Japan	AVGE +4.4 points	4.4%	0.0%
Brazil	LENS +3.9 points	0.5%	4.4%
Taiwan	AVGE +3.0 points	3.0%	0.0%
Greece	LENS +2.8 points	0.1%	2.9%
Colombia	LENS +2.1 points	0.0%	2.1%
Other countries (31)	AVGE +9.4 points	18.3%	8.9%

Outside the US: AVGE 64% developed, 36% emerging. LENS 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

AVGE95.5%
LENS42.2%

Securities held

AVGE15
LENS48

Asset class

AVGE: Equity
LENS: Equity

Holdings

Only in AVGE15
In both0
Only in LENS48

Only in AVGE

15 securities, 100% of AVGE by weight

Avantis Us Equity Etf Avantis U.s. Equity Etf43.49%
Avantis Us Large Cap Value Etf Avantis Us Large Cap Value15.65%
Avantis International Equity E Avantis International Equity10.40%
Avantis Emerging Markets Equit Avantis Emerging Markets Eq6.23%
Avantis International Large Ca Avantis Intl Lrg Cap Val Etf5.36%
Avantis U.s. Small Cap Value E Avantis Us Small Cap Value3.55%
Avantis Us Small Cap Equity Et Avantis Us Small Cap Equity3.49%
Avantis Emerging Markets Value Avantis Emerging Markets Val3.10%
Avantis Real Estate Etf Avantis Real Estate Etf2.82%
Avantis Us Mid Cap Value Etf Avantis Us Mid Cap Val Etf1.39%
Avantis Us Mid Cap Equity Etf Avantis Us Mid Cap Eq Etf1.38%
Avantis International Small Ca Avantis Intl S/C Value Etf1.17%
Avantis International Small Ca Avantis Intl Sm Cap Eq Etf1.03%
Avantis Emerging Markets Small Avantis Em Mkt Sm Cap Eq Etf0.85%
Ssc Government Mm Gvmxx0.08%

Only in LENS

48 securities, 100% of LENS by weight

SPDR Gold MiniShares Trust7.79%
iShares Gold Trust Micro6.07%
First American Government Obligations Fund 12/01/20315.22%
Chevron Corp4.50%
ExxonMobil Holdings Corp4.48%
Range Resources Corp3.29%
iShares Silver Trust2.78%
Agnico Eagle Mines Ltd2.76%
Kinross Gold Corp2.66%
Transocean Ltd2.61%
Phillips 662.61%
Cheniere Energy Inc2.55%
SLB Ltd2.43%
Devon Energy Corp2.42%
Gold Fields Ltd2.37%
Antero Resources Corp2.34%
Navios Maritime Partners LP2.28%
Skeena Resources Ltd2.04%
Petroleo Brasileiro SA - Petrobras2.02%
Sibanye Stillwater Ltd1.90%
Eni SpA1.83%
Hecla Mining Co1.81%
Coeur Mining Inc.1.77%
Forum Energy Technologies Inc1.72%
Gran Tierra Energy Inc1.65%
Repsol SA1.62%
Aris Mining Corp1.54%
Baker Hughes Co1.48%
First Majestic Silver Corp1.46%
Vale SA1.45%
Venture Global Inc1.43%
ConocoPhillips1.25%
Marathon Petroleum Corp1.25%
Equinor ASA1.22%
CF Industries Holdings Inc1.22%
Valero Energy Corp1.19%
Halliburton Co1.19%
TechnipFMC PLC1.18%
Anglogold Ashanti Plc1.12%
TotalEnergies SE1.07%
Endeavour Silver Corp0.98%
National Energy Services Reunited Corp0.94%
BHP Group Ltd0.89%
Hudbay Minerals Inc0.88%
Y all Street Physical Silver ETF0.83%
Novagold Resources Inc0.79%
Cameco Corp0.66%
Guardian Metal Resources PLC0.44%

Weight gaps

AVGE and LENS share no securities.

All 14 AVGE holdings⁠All LENS 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.

AVGE vs LENS Cost

Overpaying LENS vs AVGE

$10,415

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

AVGE 0.23%
$4,759
LENS 0.79%
$15,174

Amount$10,000

Years30 years

Cost over time

AVGE 0.23%
LENS 0.79%
Overpaying

Year by year

Year	AVGE	LENS	Overpaying
10	$419	$1,405	$986
20	$1,630	$5,331	$3,701
30	$4,759	$15,174	$10,415

Expense ratio

0.23%AVGE, cheaper
0.79%LENS

AVGE0.23%LENS0.79%

0.22%1.19%

Middle half of Global Active Equity funds
Median 0.69%

AVGE 2nd cheapest of 44 funds

LENS 30th cheapest of 44 funds

AVGE vs LENS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVGE 1.75%; LENS No data
Payout (12M): AVGE $1.72; LENS No data
Last payment: AVGE $0.33; LENS $0.62
Ex-dividend: AVGE Sep 10, 2026; LENS Dec 23, 2025
Paid on: AVGE Sep 14, 2026; LENS Dec 24, 2025
Frequency: AVGE Quarterly; LENS Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

AVGEQuarterly · 10 paymentsAll AVGE payments⁠

LENSIrregular · 1 paymentAll LENS payments⁠

AVGE vs LENS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVGE 11.9%LENS 27.4%since Feb 2025
Return per unit of riskSharpe ratio, 3 years: AVGE 1.40LENS 1.12since Feb 2025
Worst fallMax drawdown, 5 years: AVGE −17.1%since Sep 2022LENS −24.6%since Jan 2025
Market sensitivityBeta, 5 years: AVGE 0.94LENS 0.17; Market = 1

Popular comparisons

AVGEAvsAVTMA
Avantis All Equity Markets ETF · Avantis Total Equity Markets ETF 1
Expense ratio
0.23% · 0.22%
Category
LENSDvsAVTMA
Sarmaya Thematic ETF · Avantis Total Equity Markets ETF 1
Expense ratio
0.79% · 0.22%
Category
AVGEAvsBDVLA
Avantis All Equity Markets ETF · iShares Disciplined Volatility Equity Active ETF
Expense ratio
0.23% · 0.39%
Category
LENSDvsBDVLA
Sarmaya Thematic ETF · iShares Disciplined Volatility Equity Active ETF
Expense ratio
0.79% · 0.39%
Category
AVGEAvsDFAWA
Avantis All Equity Markets ETF · Dimensional World Equity ETF
Expense ratio
0.23% · 0.23%
Category
LENSDvsDFAWA
Sarmaya Thematic ETF · Dimensional World Equity ETF
Expense ratio
0.79% · 0.23%
Category