AVMC vs TMSL

AVMCAAvantis U.S. Mid Cap Equity ETF

TMSLBT. Rowe Price Small-Mid Cap 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.

TMSL T. Rowe Price's small- and mid-cap stock pickers, in an ETF wrapper since 2023. Roughly 300 hand-chosen names aimed at long-term capital growth, priced under the typical active US equity fund.

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.

TMSL The fund seeks long-term capital growth.

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.

• TMSL Charges 0.55% a year against a 0.65% median for active US equity ETFs. Below-average freight for a shop that still pays humans to pick the stocks.
• Roughly 300 holdings, which is broad for an active portfolio. No single small-cap name carries the whole fund.
• One of the smoother active funds in its group to trade, with assets in the billions since its 2023 launch. Getting in and out is rarely the sticking point.
• Stacks up as one of the stronger overall builds in a crowded field of active US equity ETFs.

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.

• TMSL Small and mid caps move harder in both directions than large caps. Risk is the softest part of this fund's profile, so the ride is bumpier than a total-market holding.
• Index-tracking rivals in the same cohort, like DFAC and AVLC, run near 0.15%. The extra cost here buys stock selection, not market exposure.
• No declared benchmark on file to measure it against, so results hinge on the managers' calls. Distributions land once or twice a year, not monthly.

Full AVMC profile⁠

Full TMSL profile⁠