AVNV vs EFV

AVNVCAvantis All International Markets Value ETF 9

EFVAiShares MSCI EAFE Value ETF

In short

AVNV One ticket for the whole non-US value trade: Avantis bundles its international large cap, small cap and emerging markets value funds into a single fund-of-funds, screened on value and profitability, for 0.34%.

EFV Running since 2005, EFV is the big, heavily traded way to own the value half of developed markets outside North America: roughly 400 stocks tracking the MSCI EAFE Value Index for 0.31% a year.

Stated mandate

AVNV The fund's objective is long-term capital appreciation.

EFV The fund seeks to track an index of developed-market equities outside the United States and Canada that exhibit value characteristics.

Why people hold it

• AVNV Covers ground most rivals skip: developed and emerging markets, large caps and small, all screened for cheap valuations plus profitability.avantisinvestors.com
• 0.34% covers the whole stack, near the category median for international value, and that's the real number, with no fee waiver propping it up.
• Benchmarked to the MSCI ACWI ex-USA IMI Value Index rather than pinned to it, so the managers weight by valuation and profitability on their own clock.avantisinvestors.com
• One trade instead of three: the adviser handles the mix across regions and company size inside the wrapper, and distributions land quarterly.americancentury.com

• EFV 0.31% a year, below the typical fee among international-value funds, for a mandate that has been running since 2005.
• Tracks the MSCI EAFE Value Index closely and trades actively as a multi-billion-dollar fund, which keeps the cost of getting in and out low.
• About 400 developed-market value stocks in one ticker, picked by index rule rather than a manager's judgment.
• Sits among the strongest implementations in its international-value peer group, next to Dimensional's DFIV.

Worth knowing

• AVNV Thinly traded and among the smaller funds in its category, which tends to mean wider bid-ask spreads than headline international names.
• Value, small cap and emerging markets tilts together can swing well away from a plain international index, in either direction.
• Cheaper single-region options exist, such as VDV at 0.08%, though they stop at developed markets.

• EFV By design it holds only the cheap side of the EAFE universe, so its sector mix and results can look very different from a broad international index.
• Developed markets only: no US, no Canada, no emerging markets. It's a slice of international, not the whole thing.
• Not the cheapest seat in the room: FIVA runs 0.18% for its own version of international value.

Full AVNV profile⁠

Full EFV profile⁠