AVXC vs RISE: Grades, Fees and Holdings Compared

Avantis Emerging Markets ex-China Equity ETF

AVXCANasdaq

Pictet Emerging Markets Rising Economies ETF

RISECNYSE Arca

Overlap

4.2%by weight

Expense ratio

AVXC −0.40pt a year

AVXC0.33%RISE0.73%

Avg volume · 30D

AVXC 19.2×the volume

AVXC42.9KRISE2.23K

AVXC vs RISE Performance

Jul 31, 2026 – Oct 30, 2026

−2.5%AVXC−5.5%RISE

Expense ratio: AVXC 0.33%, better; RISE 0.73%
Fund size: AVXC $427M; RISE $20M
1Y total return: AVXC +22.4%; RISE No data
Yield (12M): AVXC 2.39%; RISE No data
Holdings: AVXC 2922; RISE 103
Avg volume (30D): AVXC 42.9K sh, better; RISE 2.23K sh
NAV per share: AVXC $74.83; RISE $17.30
52W range

ETF.net Grade

Pillar letters and Scores for AVXC, RISE, with each pillar’s weight
Pillar	AVXC	RISE
Cost30% weight	A94Higher	D33
Mission25% weight	Not scored	Not scored
Risk15% weight	C48	B61Higher
Tradability15% weight	A85Higher	C42
Holdings10% weight	A81Higher	B55
Durability5% weight	B68Higher	D28

Rank among Emerging Markets Active Equity funds

How we build Categories ›

Same Category. AVXC and RISE 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 ›

AVXC ranks 3rd and RISE 19th 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 3ADFEMDimensional Emerging Markets Core Equity 2 ETFScore 79
Rank 19CEMKTLazard Emerging Markets Opportunities ETFScore 42
Rank 19CRISEPictet Emerging Markets Rising Economies ETFScore 42
Rank 21DGEMEPacific NoS Global EM Equity Active ETFScore 41

Our read on each fund

ETF.net Research

AVXCAAvantis Emerging Markets ex-China Equity ETF

RISECPictet Emerging Markets Rising Economies ETF

In short

AVXC The China question, answered by subtraction. Avantis runs its usual emerging-markets playbook (roughly 2,800 stocks of every size, tilted toward the cheap and the profitable) with China left out entirely, for 0.33% a year.

RISE Pictet's active take on the developing world: a stock-picking emerging markets fund that names its yardstick out loud, the MSCI Emerging Markets Index, and asks to be judged against it over a full market cycle.

Stated mandate

AVXC The fund invests in a broad set of companies across emerging-market countries, excluding China, and spanning all market capitalizations. It seeks higher expected returns by overweighting securities with lower valuations and higher profitability ratios.

RISE The Fund seeks long-term capital appreciation. It is actively managed and seeks to outperform the MSCI Emerging Markets Index TR USD, net of fees, over a full market cycle.

Why people hold it

AVXC 0.33% a year, about half the typical fee among active EM funds, and the ex-China carve-out costs no more than Avantis charges on its with-China flagship, AVEM.
Roughly 2,800 holdings spanning all market-cap sizes, so removing China doesn't turn the fund into a concentrated bet on a few large markets.avantisinvestors.com
Actively run against MSCI Emerging Markets IMI rather than tracking it: the mandate overweights lower-valuation, higher-profitability companies.
One of the stronger builds in the active emerging-markets group we review, on cost and portfolio construction alike.

RISE The mandate is specific: seek long-term capital appreciation and try to beat the MSCI Emerging Markets Index, net of fees, over a full market cycle. Easy scorecard, stated by the fund itself.
Active, not a tracker. A manager chooses the emerging market names rather than accepting whatever weight the index hands out.
Plain long-only equity in a standard 1940 Act fund: no leverage, options overlay or structural quirks bolted on top of the emerging market exposure.

Worth knowing

AVXC Thinly traded next to the giants of the category, so spreads and limit orders matter more on the way in and the way out.
Launched in 2024, so the live record is short and the risk picture is still forming.
Leaving China out is a real departure from standard EM exposure, and the value and small-cap tilts add more distance from a plain cap-weighted index.

RISE The 0.73% fee sits above the typical active emerging markets fund, and well above systematic rivals such as AVEM at 0.33% and DFEM at 0.39%.
Small asset base and light trading: bid-ask spreads can run wider than in the category's giants, which matters most on large or hurried orders.
Live history starts in 2026, so there is little track record yet showing whether the stock picking clears the index it targets.

Full AVXC profile⁠

Full RISE profile⁠

AVXC vs RISE Holdings

How AVXC and RISE differ

Overlap by weight

4.2%

Shared holdings make up 40.9% of RISE and 4.2% of AVXC.

Level by level

Holdings41 in both4.2%
Countryby domicile38.2%
Asset classEquity100%

Sector

No Sector split for RISE.

Country, concentration and asset class

Country by domicile

Country weights in AVXC and RISE, widest gap first
Country	More in AVXCMore in RISE	AVXC	RISE
Taiwan	AVXC +30.0 points	30.0%	0.0%
South Korea	AVXC +25.3 points	25.3%	0.0%
Brazil	RISE +17.3 points	5.9%	23.2%
South Africa	RISE +16.1 points	6.5%	22.6%
Vietnam	RISE +7.5 points	0.0%	7.5%
Chile	RISE +4.8 points	0.8%	5.6%
India	RISE +4.5 points	18.2%	22.7%
Mexico	RISE +3.6 points	2.7%	6.3%
Other countries (15)	RISE +1.4 points	10.5%	11.9%

Outside the US: AVXC 0% developed, 100% emerging. RISE 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

AVXC28.5%
RISE29.2%

Securities held

AVXC2,909
RISE102

Asset class

AVXC: Equity
RISE: Equity

Holdings

Only in AVXC2,868
In both41
Only in RISE61

Only in AVXC

2,868 securities, 95.8% of AVXC by weight

Taiwan Semiconductor Sp Adr Adr10.63%
Samsung Electr Gdr Reg’s Gdr6.78%
Sk Hynix Inc Common Stock KRW5000.05.94%
Mediatek Inc Common Stock TWD10.01.15%
United Microelectronics Corp Common Stock TWD10.00.76%
Hon Hai Precision Industry Common Stock TWD10.00.75%
Kb Financial Group Inc Adr Adr0.65%
Icici Bank Ltd Spon Adr Adr0.65%
Ase Technology Holding Adr Adr0.60%
Shinhan Financial Group Adr Adr0.53%
Fubon Financial Holding Co Common Stock TWD10.00.51%
Hana Financial Group Common Stock KRW5000.00.49%
Reliance Inds Spons Gdr 144A Gdr0.48%
Vale SA Sp Adr Adr0.46%
Petroleo Brasil Sp Pref Adr Adr0.45%
Ctbc Financial Holding Co Lt Common Stock TWD10.00.44%
Ts Financial Holding Co Ltd Common Stock TWD10.00.44%
Hdfc Bank Limited Common Stock INR1.00.44%
Petroleo Brasileiro Spon Adr Adr0.42%
Lg Electronics Inc Common Stock KRW5000.00.39%
Hyundai Motor Co Common Stock KRW5000.00.36%
Mtn Group Ltd Common Stock ZAR.00010.36%
Saudi Arabian Oil Co Common Stock0.35%
Zhen Ding Technology Holding Common Stock TWD10.00.34%
Kia Corp Common Stock KRW5000.00.34%
Cathay Financial Holding Co Common Stock TWD10.00.33%
Bharti Airtel Ltd Common Stock INR5.00.32%
Woori Financial Group Inc Common Stock KRW5000.00.32%
Samsung Electro Mechanics Co Common Stock KRW5000.00.32%
Yuanta Financial Holding Co Common Stock TWD10.00.31%
Innolux Corp Common Stock TWD10.00.30%
Unimicron Technology Corp Common Stock TWD10.00.30%
Otp Bank PLC Common Stock HUF100.00.29%
Icici Bank Ltd Common Stock INR2.00.29%
Gold Fields Ltd Spons Adr Adr0.28%
Larsen & Toubro Ltd Common Stock INR2.00.28%
Sasol Ltd Sponsored Adr Adr0.27%
Nanya Technology Corp Common Stock TWD10.00.27%
Orlen SA Common Stock PLN1.250.27%
Itau Unibanco H Spon Prf Adr Adr0.26%
Samsung E+a Co Ltd Common Stock KRW5000.00.26%
Axis Bank Ltd Gdr Reg’s Gdr0.26%
Alpha Bank SA Common Stock EUR.30.25%
Kinsus Interconnect Tech Common Stock TWD10.00.25%
Saudi Telecom Co Common Stock SAR10.00.25%
Al Rajhi Bank Common Stock SAR10.00.24%
Winbond Electronics Corp Common Stock TWD10.00.24%
Mahindra & Mahindra Ltd Common Stock INR5.00.24%
Bajaj Finance Ltd Common Stock INR1.00.23%
Credicorp Ltd Common Stock USD5.00.23%

Only in RISE

61 securities, 59.0% of RISE by weight

Hcl Technologies Ltd3.51%
Petrobras - Petroleo Bra3.10%
Credicorp Ltd3.02%
Coforge Limited2.95%
Itau Unibanco Holding S-2.63%
Gold Fields Ltd2.37%
Cashusd2.31%
First Abu Dhabi Bank Pjs2.26%
Halyk Savings Bank Gdr1.99%
Emirates Telecom Group C1.79%
Nac Kazatomprom Jsc-Gdr Regs1.75%
National Aluminium Co Lt1.74%
Sasol Ltd1.48%
Veon Ltd1.36%
Abu Dhabi Commercial Ban1.22%
Mobile World Investment1.18%
Tech Mahindra Ltd1.06%
Intl Container Term Svcs0.99%
Embassy Office Parks Rei0.97%
Banco Bradesco Sa-Pref0.97%
Eicher Motors Ltd0.92%
Embraer SA0.90%
Tvs Motor Co Ltd0.90%
Vedanta Ltd0.86%
Global X Msci Vietnam Etf0.85%
Grupo Aeroport Del Pacif0.84%
Military Commercial Join0.84%
Ypf S.a.-Sponsored Adr0.82%
Ambev SA0.81%
Latam Airlines Group SA0.80%
Tata Motors Ltd /New0.79%
Aldar Properties Pjsc0.72%
Kei Industries Ltd0.71%
Harmony Gold Mining Co L0.70%
Vedanta Aluminium Metal0.68%
Sibanye Stillwater Ltd0.54%
Vietnam Prosperity Jsc B0.52%
Techcom Bank Tcb0.49%
Hoa Phat Group Jsc0.49%
Fresnillo PLC0.48%
Vinhomes Jsc0.47%
Suzano SA0.45%
Gerdau Sa-Pref0.41%
Banco Santander Chile0.41%
Hdbank0.40%
Asia Commercial Bank0.39%
Jarir Marketing Co0.38%
Pampa Energia SA0.36%
Abu Dhabi National Oil C0.31%
Ultrapar Participacoes’s0.28%

Weight gaps

All 41 Holdings in both funds, largest gap first.

Holding weights in AVXC and RISE, widest gap first
Holding	More in AVXCMore in RISE	AVXC	RISE
Grupo Financiero Banorte O Common Stock MXN3.5	RISE +2.91 points	0.35%	3.26%
Infosys Ltd Sp Adr AdrINFY	RISE +2.83 points	0.36%	3.19%
Naspers Ltd N Shs Common Stock ZAR.02	RISE +2.80 points	0.05%	2.85%
Banco Btg Pactual SA Unit Unit	RISE +1.94 points	0.10%	2.04%
Standard Bank Group Ltd Common Stock ZAR.1	RISE +1.65 points	0.32%	1.97%
Cimb Group Holdings Bhd Common Stock	RISE +1.66 points	0.15%	1.81%
Valterra Platinum Limited Common Stock ZAR.1	RISE +1.60 points	0.03%	1.63%
The Saudi National Bank Common Stock SAR10.0	RISE +1.56 points	0.19%	1.75%
Anglogold Ashanti PLC Common Stock	RISE +1.45 points	0.06%	1.51%
Emaar Properties Pjsc Common Stock AED1.0	RISE +1.44 points	0.28%	1.72%
Prio SA Common Stock	RISE +1.37 points	0.25%	1.62%
Quimica Y Minera Chil Sp Adr Adr USD1.0SQM	RISE +1.33 points	0.09%	1.42%
Allos SA Common Stock	RISE +1.14 points	0.04%	1.18%
Grupo Cibest SA Pref Preference	RISE +0.93 points	0.04%	0.97%
Caixa Seguridade Participaco Common Stock	RISE +0.86 points	<0.01%	0.87%
Axia Energia SA Common Stock	RISE +0.86 points	0.01%	0.87%
Falabella SA Common Stock	RISE +0.75 points	0.03%	0.78%
Tupras Turkiye Petrol Rafine Common Stock TRY1.0	RISE +0.66 points	0.06%	0.72%
Impala Platinum Holdings Ltd Common Stock	RISE +0.66 points	0.19%	0.85%
Banco De Chile Common Stock	RISE +0.65 points	0.07%	0.72%
Industrias Penoles Sab De Cv Common Stock	RISE +0.50 points	0.18%	0.68%
Bim Birlesik Magazalar As Common Stock TRY1.0	RISE +0.48 points	0.04%	0.52%
Mobile Telecommunications Co Common Stock KWD.1	RISE +0.48 points	0.08%	0.56%
Bradsaude SA Common Stock	RISE +0.46 points	0.05%	0.51%
Rede D Or Sao Luiz SA Common Stock	RISE +0.47 points	0.01%	0.48%
Wipro Ltd Adr AdrWIT	RISE +0.46 points	0.06%	0.52%
Nedbank Group Ltd Common Stock ZAR1.0	RISE +0.46 points	0.15%	0.61%
Akbank T.a.s. Common Stock TRY1.0	RISE +0.44 points	0.05%	0.49%
Vodacom Group Ltd Common Stock	RISE +0.40 points	0.07%	0.47%
Banco De Credito E Inversion Common Stock	RISE +0.37 points	0.05%	0.42%
Outsurance Group Ltd Common Stock ZAR.0001	RISE +0.36 points	0.04%	0.40%
Ooredoo Qpsc Common Stock QAR1.0	RISE +0.35 points	0.06%	0.41%
Localiza Rent A Car Common Stock	RISE +0.34 points	0.02%	0.36%
Totvs SA Common Stock	RISE +0.34 points	<0.01%	0.34%
Northam Platinum Holdings Lt Common Stock	RISE +0.34 points	0.07%	0.41%
Xp Inc Class A Common StockXP	RISE +0.31 points	0.13%	0.44%
Vibra Energia SA Common Stock	RISE +0.29 points	0.17%	0.46%
Clicks Group Ltd Common Stock ZAR.01	RISE +0.23 points	0.04%	0.27%
Bb Seguridade Participacoes Common Stock	RISE +0.23 points	0.11%	0.34%
Yapi Ve Kredi Bankasi Common Stock TRY1.0	RISE +0.22 points	0.03%	0.25%
Emaar Development Pjsc Common Stock AED1.0	RISE +0.16 points	0.07%	0.23%

All 2,899 AVXC holdings⁠All 97 RISE 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.

AVXC vs RISE Cost

Overpaying RISE vs AVXC

$7,396

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

AVXC 0.33%
$6,737
RISE 0.73%
$14,133

Amount$10,000

Years30 years

Cost over time

AVXC 0.33%
RISE 0.73%
Overpaying

Year by year

Year	AVXC	RISE	Overpaying
10	$598	$1,302	$704
20	$2,318	$4,952	$2,634
30	$6,737	$14,133	$7,396

Expense ratio

0.33%AVXC, cheaper
0.73%RISE

AVXC0.33%RISE0.73%

0.33%0.85%

Middle half of Emerging Markets Active Equity funds
Median 0.65%

AVXC cheapest of 27 funds

RISE 18th cheapest of 27 funds

AVXC vs RISE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVXC 2.39%; RISE No data
Payout (12M): AVXC $1.79; RISE No data
Last payment: AVXC $0.45; RISE $0.18
Ex-dividend: AVXC Sep 8, 2026; RISE Sep 25, 2026
Paid on: AVXC Sep 10, 2026; RISE Sep 30, 2026
Frequency: AVXC Quarterly; RISE Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

AVXCQuarterly · 7 paymentsAll AVXC payments⁠

RISEQuarterly · 2 paymentsAll RISE payments⁠

AVXC vs RISE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVXC 19.2%since Apr 2024RISE No data
Return per unit of riskSharpe ratio, 3 years: AVXC 0.76since Apr 2024RISE No data
Worst fallMax drawdown, 5 years: AVXC −20.4%since Mar 2024RISE No data
Market sensitivityBeta, 5 years: AVXC 0.93RISE −0.11; Market = 1

AVXC and RISE in the news

All news⁠

ETF Filings
Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank
Sep 18, 2026RISE

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AVXC vs RISE

In short

Stated mandate

Why people hold it

Worth knowing

How AVXC and RISE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVXC

Only in RISE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank

How AVXC and RISE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AVXC

Only in RISE

Weight gaps