AVSE vs EMES

AVSEAAvantis Responsible Emerging Markets Equity ETF

EMESCHarbor Emerging Markets Select ETF (EMES)

In short

AVSE Avantis's emerging markets workhorse with a values filter bolted on: the same profitability tilt and thousands-of-stocks build as its flagship EM fund, at the same 0.33% fee, minus the issuers its team flags on ESG grounds.

EMES Harbor's active take on emerging markets: roughly 50 stocks instead of a sprawling index, priced at the middle of the active EM pack rather than the premium end. Launched in 2025.

Stated mandate

AVSE The fund is an actively managed emerging-markets equity strategy that seeks to identify securities with higher expected returns while excluding issuers that raise concerns under the portfolio team's environmental, social, and governance evaluation.

EMES The Fund invests primarily in equity securities, principally common stocks, of companies in emerging markets.

Why people hold it

• AVSE Charges 0.33% a year, roughly half the typical fee among actively managed emerging markets funds. The cost drag stays out of the way of the strategy.
• The screen trims rather than concentrates: the portfolio still spans thousands of emerging markets stocks, not a short list of approved names.avantisinvestors.com
• Active in the Avantis sense: a systematic tilt toward more profitable companies, not a manager's hunches about which stocks pop next.
• Priced level with Avantis's mainstream EM funds (AVEM, AVXC) and JPMorgan's JEMA at 0.33%, and one of the stronger builds in the active EM group.

• EMES Concentrated by design. Roughly 50 emerging-market stocks means each name actually moves the fund, unlike broad EM indexes where a single pick barely registers.
• At 0.65%, the fee lands right at the middle of actively managed EM funds. Active stock picking without the premium price tag some active EM shops charge.
• Its short life so far shows steadier drawdown and volatility behavior than most active EM rivals, and it grades out in the upper half of that peer group.

Worth knowing

• AVSE Thinly traded next to the index-fund giants of emerging markets, so bid-ask spreads can widen and larger orders need care.
• The ESG exclusions are the portfolio team's own judgment calls, so the holdings and the results will drift from a plain broad EM benchmark.
• Emerging markets equity brings currency swings and country-level political risk, and this fund holds that exposure directly. Pays quarterly.

• EMES Launched in May 2025, so there is no full market cycle to judge. The risk picture rests on about a year of data, which is a thin sample for emerging markets.
• Small asset base and thin trading. Fewer shares changing hands can mean wider gaps between the buy and sell price, especially on larger orders.
• Systematic peers cost about half: AVEM and AVXC at 0.33%, DFEM at 0.39%. You are paying up for a concentrated stock-picking approach over broad quant exposure.

Full AVSE profile⁠

Full EMES profile⁠