AVGV vs DWLD

AVGVAAvantis All Equity Markets Value ETF 9

DWLDCDavis Select Worldwide ETF

In short

AVGV One ticker for the world's value stocks: AVGV stacks six Avantis value funds into a 60% US, 30% developed, 10% emerging mix, small caps included, for 0.26% all in.

DWLD Old-school stockpicking in an ETF shell. Since January 2017 Davis has run a concentrated global book, about 40 names across US, developed and emerging markets, bought at discounts to its own estimate of value. Fee: 0.62%, no waiver.

Stated mandate

AVGV The fund seeks long-term capital appreciation through a fund-of-funds structure investing in other Avantis ETFs. Those underlying funds are broadly diversified equity portfolios that select or overweight securities expected to offer higher returns or better risk characteristics than a passive market-cap-weighted index.

DWLD The Fund seeks long-term growth of capital.

Why people hold it

• AVGV Holds US large, mid and small value plus developed and emerging value in one ticker, at 60/30/10 target weights the managers can flex within stated ranges.sec.gov
• The 0.26% headline covers the underlying Avantis funds too, and sits below the category median and below SFGV's 0.33% net of a waiver through March 31, 2027.sec.gov
• Small and mid caps ride alongside large caps, so the value tilt reaches corners of the market a large-cap-only value fund leaves out.sec.gov

• DWLD Genuinely active: roughly 40 stocks spanning US, developed and emerging markets, with no market-cap limits, so the portfolio can look nothing like a global index.sec.gov
• Patient by design: the prospectus describes buying below estimated intrinsic value and selling on valuation or thesis change, and reported turnover has been low.sec.govsec.gov 2
• The 0.62% fee sits near the category median and rests on no waiver, unlike SFGV at 0.33% net of a waiver through March 31, 2027, which can reset when that ends.
• Trading since January 2017, so there is a long run of live results to inspect rather than a backtest.stockanalysis.com

Worth knowing

• AVGV Value and size tilts are built in, so results can diverge from a market-cap global index for long stretches.sec.gov
• Every holding is an Avantis fund, so one firm's definition of value and one team's allocation calls drive the whole portfolio.sec.gov
• Around 40% of the target sits outside the US, bringing currency moves and emerging market risk; the fund also only launched in 2023.sec.gov

• DWLD Cheaper global value exists: AVGV charges 0.26% and FEGE 0.50% net of a waiver through December 31, 2026. Here you pay up for the stockpicking.
• It trades thinly, so spreads can widen; limit orders do more work here than in a mega-cap index fund.
• About 40 holdings and no index to hug means single names carry real weight and results can diverge widely from a global benchmark.sec.gov

Full AVGV profile⁠

Full DWLD profile⁠