AVGE vs TOGA

AVGEAAvantis All Equity Markets ETF

TOGADTremblant Global 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.

TOGA No index here. A manager picks stocks anywhere in the world, and the 0.69% fee lands right at the middle of the active global equity pack. Launched in 2024, so the record is still short.

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.

TOGA The Fund is an actively managed ETF whose objective is pursued primarily through investments in equity securities.

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.

• TOGA Genuinely active and genuinely global: the portfolio is assembled by a manager choosing equities worldwide, not by copying a benchmark.
• The 0.69% expense ratio is the median for its active global equity group, so the stock-picking costs no more than the going rate.
• Plain-vanilla fund structure under the 1940 Act: ordinary ETF shares, 1099 at tax time, no K-1 paperwork.

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.

• TOGA The strongest-graded funds in this global cohort charge far less: GSWO at 0.15% and AVGE at 0.25%, against 0.69% here.
• Thinly traded, so the gap between bid and ask can widen. Limit orders are the standard tool with funds like this.
• A 2024 launch means a short history, and on the single year of data available the ride has been bumpier than most global peers.

Full AVGE profile⁠

Full TOGA profile⁠