AVLC vs TSPA

AVLCAAvantis U.S. Large Cap Equity ETF

TSPAAT. Rowe Price U.S. Equity Research 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.

TSPA Active stock picking at near-index prices. T. Rowe Price runs roughly 300 U.S. stocks against the S&P 500 for 0.34%, about half the typical fee in its active U.S. equity peer group, and it has traded as an ETF since 2021.

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.

TSPA The fund seeks long-term capital growth through an actively managed portfolio that is generally fully invested and primarily holds U.S. equity securities.

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.

• TSPA 0.34% a year, versus a 0.65% median across active U.S. equity ETFs. Active management without the active price tag.
• A multi-billion-dollar fund that trades actively, and one of the easiest funds in its category to move in and out of.
• About 300 holdings, generally fully invested in U.S. stocks and measured against the S&P 500. Broad shape, active picks inside it.
• Ranks among the strongest overall implementations in a peer group of more than 200 active U.S. equity ETFs.

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

• TSPA Systematic peers undercut it on fee: DFAU at 0.12%, AVLC at 0.15%, FELC at 0.18%. You are paying up for human stock selection.
• Fully invested U.S. equity means full market risk. There is no cash buffer or hedge, and results ride on picks against the S&P 500.
• Distributions come annually or semiannually, so it is built around long-term capital growth rather than a regular income stream.

Full AVLC profile⁠

Full TSPA profile⁠