AVLC vs SNAV

AVLCAAvantis U.S. Large Cap Equity ETF

SNAVDMohr Sector Nav 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.

SNAV Eleven sectors make up the S&P 500, and this active fund tries to hold only the ones its model favors. A boutique rotation strategy that costs 1.59% a year, with no fee waiver in place.

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.

SNAV The Fund seeks capital appreciation through an actively managed, tactical strategy that allocates among industry sectors associated with the S&P 500 Index.

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.

• SNAV Rotation instead of owning everything: the adviser tactically allocates across the 11 sectors in the S&P 500, so sector weights can sit far from a plain index fund's.sec.gov
• You outsource the sector calls. One ticker does the work of shuffling a basket of sector funds yourself, with a manager deciding what gets weight.sec.gov
• Trading since January 2023, so there is a real, public live record to examine rather than a backtest.

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

• SNAV At 1.59% with no fee waiver in place, it costs more than the typical fund in its active US equity category, and far more than core peers DFAU (0.12%) and AVLC (0.15%) or active rotation peer DYNF (0.26%).
• Small and lightly traded, which can mean wider bid-ask spreads and choppier fills than a mainstream core fund.
• Its own filings frame it for investors seeking long-term growth who can tolerate full market risk and large swings in principal. It has not been paying distributions.sec.gov

Full AVLC profile⁠

Full SNAV profile⁠