AVSE vs MEM: Grades, Fees and Holdings Compared

Avantis Responsible Emerging Markets Equity ETF

AVSEANYSE Arca

Matthews Emerging Markets Equity Active ETF

MEMDNYSE Arca

Overlap

17.2%by weight

Expense ratio

AVSE −0.46pt a year

AVSE0.33%MEM0.79%

Avg volume · 30D

AVSE 3.6×the volume

AVSE13.4KMEM3.73K

3Y return · a year

AVSE +2.7pt

AVSE+22.2%MEM+19.5%

AVSE vs MEM Performance

Oct 31, 2025 – Oct 30, 2026

+13.6%AVSE+5.1%MEM

Expense ratio: AVSE 0.33%, better; MEM 0.79%
Fund size: AVSE $215M; MEM $50M
1Y total return: AVSE +13.6%, better; MEM +5.1%
Yield (12M): AVSE 2.97%; MEM 3.36%, better
Holdings: AVSE 2474; MEM 68
Avg volume (30D): AVSE 13.4K sh, better; MEM 3.73K sh
NAV per share: AVSE $71.79; MEM $38.82
52W range

ETF.net Grade

Pillar letters and Scores for AVSE, MEM, with each pillar’s weight
Pillar	AVSE	MEM
Cost30% weight	A94Higher	F15
Mission25% weight	A100	Not scored
Risk15% weight	B55Higher	D35
Tradability15% weight	A78Higher	F23
Holdings10% weight	A80Higher	D29
Durability5% weight	B69Higher	C54

Rank among Emerging Markets Active Equity funds

How we build Categories ›

Same Category. AVSE and MEM are both graded against the same 27 Emerging Markets Active Equity funds, so their Grades compare head to head.

Emerging Markets Active Equity⁠

Category · 27 funds

See all 27 ›

AVSE ranks 3rd and MEM 25th of 27 funds in the Emerging Markets Active Equity Category.

Rank 1AAVEMAvantis Emerging Markets Equity ETFScore 86
Rank 2AJEMAJPMorgan ActiveBuilders Emerging Markets Equity ETFScore 82
Rank 3AAVSEAvantis Responsible Emerging Markets Equity ETFScore 79
Rank 3AAVXCAvantis Emerging Markets ex-China Equity ETFScore 79
Rank 24DEMEQNomura Focused Emerging Markets Equity ETFScore 26
Rank 25DMEMMatthews Emerging Markets Equity Active ETFScore 25
Rank 26FASIAMatthews Pacific Tiger Active ETF ASIAScore 24

Our read on each fund

ETF.net Research

AVSEAAvantis Responsible Emerging Markets Equity ETF

MEMDMatthews Emerging Markets Equity Active ETF

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.

MEM An Asia specialist's take on the whole emerging world. Matthews runs MEM as a concentrated active book of roughly 40 names, with the prospectus objective pointing primarily at the Asia Pacific region.

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.

MEM The fund seeks long-term capital appreciation and invests primarily in the Asia Pacific region.

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.

MEM Matthews built its research franchise on Asia, and this fund applies that lens to broad emerging markets rather than tracking an index.matthewsasia.com
Concentrated by design: roughly 40 names, at least 80% of net assets in emerging-market common and preferred stock, with stock picking framed by a top-down macro view and beta controls.matthewsasia.com
Simple plumbing. A 1940 Act ETF that owns the stocks directly: no swaps, no leverage, no notes.

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.

MEM At 0.79% a year it runs above the typical active EM ETF, and several times the 0.33% charged by systematic rivals like AVEM or the 0.39% at DFEM.
Thinly traded next to the category's giants, so the spread you pay getting in and out is part of the real cost.
It sits in the lower tier of its active EM peer group on cost and tradability, and with about 40 holdings, individual country and stock calls carry real weight.

Full AVSE profile⁠

Full MEM profile⁠

AVSE vs MEM Holdings

How AVSE and MEM differ

Overlap by weight

17.2%

Shared holdings make up 57.1% of MEM and 20.1% of AVSE.

Level by level

Holdings34 in both17.2%
Countryby domicile86.7%
Sector11 Sectors87.2%
Asset classEquity100%

Sector

Sector weights in AVSE and MEM, widest gap first
Sector	More in AVSEMore in MEM	AVSE	MEM
Materials	MEM +4.8 points	3.0%	7.8%
Technology	MEM +4.4 points	39.1%	43.5%
Health Care	AVSE +3.8 points	3.8%	0.0%
Financials	AVSE +3.0 points	25.6%	22.6%
Real Estate	AVSE +2.5 points	2.5%	0.0%
Energy	MEM +2.5 points	0.1%	2.6%
Industrials	AVSE +1.4 points	6.8%	5.4%
Consumer Discretionary	MEM +1.2 points	9.8%	11.0%
Consumer Staples	AVSE +1.1 points	2.5%	1.4%
Utilities	AVSE +1.1 points	1.1%	0.0%
Communication	Same weight	5.8%	5.8%

Country, concentration and asset class

Country by domicile

Country weights in AVSE and MEM, widest gap first
Country	More in AVSEMore in MEM	AVSE	MEM
India	AVSE +7.3 points	13.4%	6.1%
China	MEM +3.3 points	16.7%	20.0%
Brazil	MEM +3.2 points	3.8%	7.0%
Singapore	MEM +1.5 points	0.1%	1.6%
Poland	AVSE +1.4 points	1.4%	0.0%
United Kingdom	MEM +1.3 points	0.1%	1.4%
Malaysia	AVSE +1.2 points	1.2%	0.0%
South Korea	MEM +1.2 points	20.9%	22.1%
Other countries (13)	AVSE +0.6 points	42.5%	41.9%

Outside the US: AVSE 1% developed, 99% emerging. MEM 3% developed, 97% emerging.

Concentration

Weight in the 10 largest Holdings

AVSE30.7%
MEM51.2%

Securities held

AVSE2,462
MEM66

Asset class

AVSE: Equity
MEM: Equity

Holdings

Only in AVSE2,428
In both34
Only in MEM32

Only in AVSE

2,428 securities, 78.1% of AVSE by weight

Taiwan Semiconductor Sp Adr Adr8.79%
Samsung Electr Gdr Reg’s Gdr5.10%
Alibaba Group Holding Sp Adr Adr USD.0000250.82%
Ind & Comm Bk of China H Common Stock CNY1.00.67%
Icici Bank Ltd Spon Adr Adr0.59%
Ts Financial Holding Co Ltd Common Stock TWD10.00.55%
Ase Technology Holding Adr Adr0.52%
Netease Inc Adr Adr USD.00010.44%
Yum China Holdings Inc Common Stock USD.010.43%
Kb Financial Group Inc Adr Adr0.42%
Hdfc Bank Limited Common Stock INR1.00.39%
Lg Electronics Inc Common Stock KRW5000.00.39%
Cathay Financial Holding Co Common Stock TWD10.00.37%
Fubon Financial Holding Co Common Stock TWD10.00.36%
Pdd Holdings Inc Adr USD.000020.36%
Wuxi Biologics Cayman Inc Common Stock USD.000010.35%
China Life Insurance Co H Common Stock CNY1.00.33%
Yuanta Financial Holding Co Common Stock TWD10.00.33%
Shinhan Financial Group Adr Adr0.32%
Kia Corp Common Stock KRW5000.00.31%
Axis Bank Ltd Gdr Reg’s Gdr0.30%
Saudi Telecom Co Common Stock SAR10.00.30%
Geely Automobile Holdings Lt Common Stock HKD.020.28%
Kotak Mahindra Bank Ltd Common Stock INR1.00.28%
Asia Vital Components Common Stock TWD10.00.27%
Innovent Biologics Inc Common Stock USD.000010.26%
Infosys Ltd Sp Adr Adr0.26%
Vale SA Sp Adr Adr0.25%
Wistron Corp Common Stock TWD10.00.25%
Mahindra & Mahindra Ltd Common Stock INR5.00.25%
Gold Fields Ltd Spons Adr Adr0.25%
Sinopac Financial Holdings Common Stock TWD10.00.25%
Anta Sports Products Ltd Common Stock HKD.10.25%
Emaar Properties Pjsc Common Stock AED1.00.24%
Otp Bank PLC Common Stock HUF100.00.24%
Mtn Group Ltd Common Stock ZAR.00010.24%
Accton Technology Corp Common Stock TWD10.00.24%
Chroma Ate Inc Common Stock TWD10.00.24%
Woori Financial Group Inc Common Stock KRW5000.00.24%
Picc Property & Casualty H Common Stock CNY1.00.23%
Credicorp Ltd Common Stock USD5.00.23%
Cspc Pharmaceutical Group Lt Common Stock0.22%
Al Rajhi Bank Common Stock SAR10.00.22%
National Bank of Kuwait Common Stock KWD.10.22%
Bse Ltd Common Stock INR2.00.22%
China Resources Land Ltd Common Stock HKD.10.22%
Bank of China Ltd H Common Stock CNY1.00.22%
King Yuan Electronics Co Ltd Common Stock TWD10.00.21%
First Financial Holding Co Common Stock TWD10.00.21%
E.sun Financial Holding Co Common Stock TWD10.00.21%

Only in MEM

32 securities, 34.6% of MEM by weight

Samsung Electronics Co., Ltd.7.51%
Alibaba Group Holding, Ltd.3.34%
Eternal, Ltd.1.86%
Petroleo Brasileiro SA - Petrobras Adr1.77%
Sea, Ltd. Adr1.46%
Kb Financial Group, Inc.1.33%
Antofagasta PLC1.26%
Nu Holdings, Ltd. Class A1.22%
Shoprite Holdings, Ltd.1.09%
Petrochina Co., Ltd. H Shares1.05%
Zijin Mining Group Co., Ltd. H Shares1.03%
Capitec, Ltd.0.93%
Jd.com, Inc. Class A0.91%
Anglogold Ashanti PLC0.88%
Hongfa Technology Co., Ltd. A Shares0.85%
Luckin Coffee, Inc. Adr0.85%
Hdfc Bank, Ltd. Adr0.85%
Credicorp, Ltd.0.76%
Piraeus Bank SA0.76%
Hanwha Aerospace Co., Ltd.0.69%
Hd Hyundai Heavy Industries Co., Ltd.0.64%
Max Financial Services, Ltd.0.55%
Bank of The Philippine Islands0.54%
Cp All Public Co., Ltd.0.54%
Military Commercial Joint Stock Bank0.52%
Cia De Minas Buenaventura Saa Adr0.52%
Cmoc Group, Ltd. H Shares0.46%
Reliance Industries, Ltd.0.34%
Freeport-Mcmoran, Inc.0.13%
Inr<0.01%
Eur0.00%
Pln0.00%

Weight gaps

All 34 Holdings in both funds, largest gap first.

Holding weights in AVSE and MEM, widest gap first
Holding	More in AVSEMore in MEM	AVSE	MEM
Taiwan Semiconductor Manufac Common Stock TWD10.0	MEM +13.85 points	3.05%	16.90%
Sk Hynix Inc Common Stock KRW5000.0	AVSE +2.96 points	5.94%	2.98%
Tencent Holdings Ltd Common Stock HKD.00002	MEM +2.20 points	1.44%	3.64%
Samsung Fire & Marine Ins Common Stock KRW500.0	MEM +2.00 points	0.22%	2.22%
Valterra Platinum Limited Common Stock ZAR.1	MEM +1.54 points	0.07%	1.61%
China Merchants Bank H Common Stock CNY1.0	MEM +1.51 points	0.32%	1.83%
Itau Unibanco H Spon Prf Adr AdrITUB	MEM +1.45 points	0.18%	1.63%
China Construction Bank H Common Stock CNY1.0	MEM +1.44 points	1.14%	2.58%
Elite Material Co Ltd Common Stock TWD10.0	MEM +1.37 points	0.34%	1.71%
Delta Electronics Inc Common Stock TWD10.0	MEM +1.34 points	0.12%	1.46%
Ctbc Financial Holding Co Lt Common Stock TWD10.0	MEM +1.29 points	0.42%	1.71%
Hana Financial Group Common Stock KRW5000.0	MEM +0.89 points	0.38%	1.27%
Xp Inc Class A Common StockXP	MEM +0.88 points	0.12%	1.00%
Fomento Economico Mex Sp Adr AdrFMX	MEM +0.84 points	0.11%	0.95%
Grupo Financiero Banorte O Common Stock MXN3.5	MEM +0.81 points	0.31%	1.12%
United Microelectronics Corp Common Stock TWD10.0	MEM +0.76 points	0.32%	1.08%
Thermax Ltd Foreign Common Stock INR2.0	MEM +0.75 points	0.01%	0.76%
B3 SA Brasil Bolsa Balcao Common Stock	MEM +0.73 points	0.10%	0.83%
Hd Hyundai Electric Co Ltd Common Stock KRW5000.0	MEM +0.71 points	0.10%	0.82%
Naver Corp Common Stock KRW100.0	MEM +0.61 points	0.08%	0.69%
Largan Precision Co Ltd Common Stock TWD10.0	MEM +0.58 points	0.08%	0.66%
Samsung Electro Mechanics Co Common Stock KRW5000.0	MEM +0.59 points	0.56%	1.15%
Bajaj Finance Ltd Common Stock INR1.0	MEM +0.58 points	0.21%	0.79%
China International Capita H Common Stock CNY1.0	MEM +0.52 points	0.09%	0.61%
Wnc Corp Common Stock TWD10.0	MEM +0.42 points	0.05%	0.47%
Ping An Insurance Group Co H Common Stock CNY1.0	MEM +0.42 points	0.44%	0.86%
Zijin Gold International Co Common Stock	MEM +0.35 points	0.06%	0.41%
Unimicron Technology Corp Common Stock TWD10.0	MEM +0.31 points	0.47%	0.78%
Hyundai Motor Co Common Stock KRW5000.0	MEM +0.30 points	0.29%	0.59%
Hyundai Rotem Company Common Stock KRW5000.0	MEM +0.30 points	0.06%	0.36%
Shriram Finance Ltd Common Stock INR2.0	MEM +0.21 points	0.26%	0.47%
Hon Hai Precision Industry Common Stock TWD10.0	MEM +0.21 points	0.78%	0.99%
Meituan Class B Common Stock USD.00001	MEM +0.20 points	0.11%	0.31%
Mediatek Inc Common Stock TWD10.0	MEM +0.05 points	1.86%	1.91%

All 2,430 AVSE holdings⁠All 41 MEM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AVSE vs MEM Cost

Overpaying MEM vs AVSE

$8,437

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

AVSE 0.33%
$6,737
MEM 0.79%
$15,174

Amount$10,000

Years30 years

Cost over time

AVSE 0.33%
MEM 0.79%
Overpaying

Year by year

Year	AVSE	MEM	Overpaying
10	$598	$1,405	$807
20	$2,318	$5,331	$3,013
30	$6,737	$15,174	$8,437

Expense ratio

0.33%AVSE, cheaper
0.79%MEM

AVSE0.33%MEM0.79%

0.33%0.85%

Middle half of Emerging Markets Active Equity funds
Median 0.65%

AVSE cheapest of 27 funds

MEM 22nd cheapest of 27 funds

AVSE vs MEM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVSE 2.97%; MEM 3.36%, better
Payout (12M): AVSE $2.14; MEM $1.27
Last payment: AVSE $0.52; MEM $1.27
Ex-dividend: AVSE Sep 8, 2026; MEM Dec 17, 2025
Paid on: AVSE Sep 10, 2026; MEM Dec 22, 2025
Frequency: AVSE Quarterly; MEM Annual

Distribution history

Per share, 2022 to 2026, same scale for both

AVSEQuarterly · 11 paymentsAll AVSE payments⁠

MEMAnnual · 4 paymentsAll MEM payments⁠

AVSE vs MEM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVSE 16.8%, betterMEM 18.1%
Return per unit of riskSharpe ratio, 3 years: AVSE 1.02, betterMEM 0.83
Worst fallMax drawdown, 5 years: AVSE −26.3%since Mar 2022MEM −19.8%since Jul 2022
Market sensitivityBeta, 5 years: AVSE 1.05MEM 1.19; Market = 1

AVSE and MEM in the news

All news⁠

ETF Filings
Franklin Templeton files Templeton Emerging Markets Insights ETF at 0.64%
Oct 22, 2026MEM
New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026MEM

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AVSE vs MEM

In short

Stated mandate

Why people hold it

Worth knowing

How AVSE and MEM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVSE

Only in MEM

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files Templeton Emerging Markets Insights ETF at 0.64%

Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs

How AVSE and MEM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVSE

Only in MEM

Weight gaps