AVLC vs NOEQ

AVLCAAvantis U.S. Large Cap Equity ETF

NOEQANorthern Trust US Equity ETF

In short

AVLC Active management with index-fund manners: roughly 900 U.S. large caps, with the dial turned toward cheaper, more profitable companies. Avantis charges 0.15% a year to do it.

NOEQ Active management at index-fund pricing: 0.12% a year for a broad slate of mid- and large-cap US stocks, run by Northern Trust's FlexShares. It launched in 2026, so the story here is the fee, not the track record.

Stated mandate

AVLC The fund seeks long-term capital appreciation. It invests broadly in U.S. large-capitalization companies while using active decisions to overweight lower valuations and higher profitability.

NOEQ The Fund seeks long-term capital appreciation by investing primarily in equity securities of U.S. companies. It is actively managed and generally focuses on mid- and large-capitalization companies.

Why people hold it

• AVLC 0.15% a year against a 0.65% median for active U.S. equity funds. That is passive-style pricing on an actively run book.
• Holds about 900 names against the Russell 1000, so the value and profitability tilts sit on top of broad market exposure instead of a concentrated bet.avantisinvestors.com
• One of the stronger builds in the active U.S. equity group, priced in the same neighborhood as the Dimensional core funds (DFAU, DFAC) it competes with.
• A multi-billion-dollar fund that trades steadily, so spreads and liquidity are rarely the sticking point. Distributions are paid quarterly.

• NOEQ 0.12% a year is index-fund pricing on an actively run portfolio, matching the lowest fee among the strongest funds in its peer group (DFAU) and sitting far below the typical active US equity ETF.
• About 400 mid- and large-cap US names, so the manager's calls play out inside a diversified core rather than a handful of concentrated bets.
• Stands in the upper tier of a crowded field of hundreds of active US equity ETFs, with the low fee and a market-like risk profile doing most of the work.

Worth knowing

• AVLC Launched in 2023. The tilt philosophy is well worn at Avantis, but this fund's own live record is still short.
• Active, not index-tracking. The Russell 1000 is a reference point, not a leash, so holdings and weights can drift from it.
• Leaning toward cheaper, higher-profitability companies means stretches where it moves differently from the plain cap-weighted market, in either direction.avantisinvestors.com

• NOEQ Trading is thin, so spreads can run wider than in mega-cap index funds. Order size and timing matter more here than in the household-name giants.
• Launched in 2026, so the live record is short. And because the mandate is active, there is no published index to measure the portfolio against.
• Distributions arrive once or twice a year, not monthly, so it is not built as an income drip.

Full AVLC profile⁠

Full NOEQ profile⁠