AVGV vs WBIF

AVGVAAvantis All Equity Markets Value ETF 9

WBIFDWBI BullBear Value 3000 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.

WBIF A 2014-vintage active value fund with an unusual escape hatch: its sell discipline can park a big slice of the portfolio in cash. Roughly 30 names, a global hunting ground, and a price tag well above the typical value ETF.

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.

WBIF The Fund seeks long-term capital appreciation and potential current income while attempting to protect principal in unfavorable markets. It actively invests across domestic and foreign companies of all capitalization sizes and may use tactical investments.

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

• WBIF Cash counts as a position here. The selection process evaluates cash and cash equivalents alongside stocks, and the fund can hold a significant percentage of net assets there.wbietfs.com
• A wide hunting ground: value names across the US, developed international and emerging markets, at every market cap, plus room for tactical positions.
• Concentrated on purpose at about 30 holdings, so individual picks carry real weight instead of getting diluted across hundreds of names.
• Launched in 2014, early in the active equity ETF wave, so it has a live record through several full market cycles rather than a backtest.

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

• WBIF At 1.52% a year it costs more than double the 0.63% median of its global value peer group. Cheaper active options in that cohort include AVGV at 0.28% and FEGE at 0.50%.
• Small and thinly traded, so spreads can run wider and sizable orders can move the price more than in the category's household names.
• The flip side of the cash option: the prospectus flags that extended stretches in cash or equivalents can lag other investments and work against the fund's objective.wbietfs.com

Full AVGV profile⁠

Full WBIF profile⁠