AVMC vs SMOX

AVMCAAvantis U.S. Mid Cap Equity ETF

SMOXCHorizon Small/Mid Cap Core Equity 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.

SMOX Horizon's December 2025 launch pairs human managers with quant models and aims them at US small and mid caps, a corner most of its actively managed US equity peers skip in favor of large-cap core.

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.

SMOX The fund seeks capital appreciation through a combination of active management and quantitative models while investing in U.S. small- and mid-cap equities.

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.

• SMOX Goes down the cap ladder to US small and mid caps while the top-scoring funds in its active US equity cohort (DFAU, FELC, AVLC) all sit in large-cap core.
• Runs on both judgment and machines: active management combined with quantitative models, rather than committing to one lane.
• Holds roughly 300 stocks, so no single small-cap stumble drives the outcome. That breadth is a real strength versus concentrated active funds.
• Lands in the upper half of a crowded active US equity peer group despite being brand new, helped by diversification and a contained risk profile.

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.

• SMOX Charges 0.75% a year, above the 0.65% median for active US equity funds and several times the 0.12% to 0.26% the cohort's top names charge.
• Launched December 2025, so there's no multi-year record yet to show how the models behave across a full market cycle.
• Trades thinly, which usually means wider bid-ask spreads than the household names in the category. Distributions come annually or semiannually, not monthly.

Full AVMC profile⁠

Full SMOX profile⁠