AVMC vs SMDX

AVMCAAvantis U.S. Mid Cap Equity ETF

SMDXBIntech S&P Small-Mid Cap Diversified Alpha ETF

In short

AVMC The forgotten middle of the US market, run the Avantis way: roughly 600 mid-cap names tilted toward cheaper stocks with stronger profits, at 0.18% a year. Systematic active management priced like an index fund.

SMDX Active small- and mid-cap investing at close to index-fund pricing: SMDX works off the S&P 1000 for about half the fee of the typical active US equity ETF. It launched in 2025, so the live record is still short.

Stated mandate

AVMC Seeks long-term capital appreciation through a broad portfolio of U.S. mid-cap companies, emphasizing securities with lower valuations and higher profitability ratios.

SMDX The Fund seeks long-term capital appreciation.

Why people hold it

• AVMC 0.18% a year, against a 0.65% median for active US equity funds. Index-fund pricing on an active mandate.
• Spreads the value-and-profitability tilt across roughly 600 mid-caps, so it leans on the screen rather than a handful of concentrated picks.avantisinvestors.com
• One of the strongest implementations in our active US equity group, sitting with large-cap sibling AVLC and the Dimensional core funds.
• Pure mid-cap exposure with a quarterly distribution, filling the gap most portfolios leave between mega-caps and small caps.

• SMDX 0.35% a year against a 0.65% median for active US equity ETFs: roughly half the usual toll for an actively managed sleeve.
• The reference point is the S&P 1000, so the hunting ground is small and mid caps rather than the large-cap names most US core funds already hand you.
• Lands in the upper half of a crowded active US equity peer group, with cost doing much of the heavy lifting.

Worth knowing

• AVMC Trades lighter than the giant index ETFs, which can mean wider bid-ask spreads at the moment you transact.
• Launched in 2023, so the live record is short. There's no published index behind it either: outcomes come from Avantis' own valuation and profitability rules.
• All mid-cap, no mega-cap ballast, plus a tilt away from expensive names. Both can put it out of step with a market led by the largest growth stocks.

• SMDX Thinly traded. Bid-ask spreads can cost more than the expense ratio on a given trade, especially in size.
• Launched in February 2025. Risk readings rest on about a year of live data, which is thin ground for judging an active strategy.
• JMEE, the other ETF built around the same S&P 1000 benchmark, charges 0.24%, so cheaper access to this slice exists.

Full AVMC profile⁠

Full SMDX profile⁠