AVGV vs GKAT

AVGVAAvantis All Equity Markets Value ETF 9

GKATBScharf Global Opportunity 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.

GKAT A boutique stock picker's global book in ETF form. Scharf buys companies it believes offer more long-term upside than downside risk, and the mandate keeps at least 40% of assets outside the US. Launched 2025, priced at 0.59% a year.

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.

GKAT The fund seeks long-term capital appreciation by investing mainly in U.S. and non-U.S. equities that the Adviser believes offer substantially more long-term appreciation potential than downside risk. It normally invests at least 40% of assets in non-U.S. securities.

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

• GKAT At 0.59% a year, it charges less than the median active global equity fund, so the stock picking starts from a lower fee hurdle.
• The global mandate is written down, not aspirational: normally at least 40% of assets in non-US securities, so it can't quietly drift into a US-only portfolio.
• Doesn't pick a style lane. The adviser screens on both growth and value traits, judging each name on appreciation potential against downside risk.

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

• GKAT Small and thinly traded, so spreads tend to be wider than in a mega-fund and getting in or out is less frictionless.
• It launched in 2025, so there's no long live ETF record to judge how the strategy behaves across a full market cycle.
• Active pricing sets a higher bar: broad index-built global rivals such as GSWO and AVGE charge a fraction of this fund's fee.

Full AVGV profile⁠

Full GKAT profile⁠