Avantis Emerging Markets Value ETF (AVES) Performance
AVES total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.7% since Dec 31, 2025
- 1 year
- +10.2% total return
- 5 years
- +7.6% a year
- Since first price
- +7.8% a year since 2021
AVES trailing returns vs SPY, QQQ, AGG
| Period | AVES total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.5% | −5.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.9% | −2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.4% | −4.0% | +7.8% | +8.4% | −1.5% |
| YTD | +7.7% | +5.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.2% | +6.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +65.4%+18.3%/yr | +46.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +44.3%+7.6%/yr | +21.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 30, 2021 | +45.9%+7.8%/yr | +22.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: AVES vs SPY
From Sep 30, 2021: AVES grew to $14,593, SPY to $18,934.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
AVES returns by calendar year
3 of 4 full years positive. Best 2025 (+30.5%), worst 2022 (−16.0%). 2026 is year to date.
AVES annual returns table
| Year | AVES | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.7% | −12.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +30.5% | −13.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.5% | −10.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.8% | −10.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −16.0% | −27.4% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
AVES largest drawdowns
Now 9.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 12, 2022 | −27.4% | Oct 24, 2022 | Apr 8, 2024 | 9 months | 2.2 years |
| Oct 2, 2024 | −18.5% | Apr 8, 2025 | Jun 4, 2025 | 6 months | 8 months |
| Feb 25, 2026 | −12.9% | Mar 30, 2026 | May 6, 2026 | 33 days | 2 months |
| Jun 15, 2026 | −11.7% | Jul 29, 2026 | not yet | 44 days | 4 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
AVES risk statistics
| Statistic | 3 years | 5 years |
|---|---|---|
| Annualized return | +19.1% | +9.0% |
| Volatility (annualized) | 14.1% | 16.4% |
| Sharpe ratio | 1.00 | 0.39 |
| Sortino ratio | 1.75 | 0.62 |
| Best month | +9.0% | +15.1% |
| Worst month | −9.2% | −11.1% |
| Best 12 months | +48.1% | +48.1% |
| Worst 12 months | +2.9% | −24.2% |
| Positive months | 69% | 57% |
| Beta vs S&P 500 | 0.72 | 0.71 |
| Correlation with S&P 500 | 0.63 | 0.68 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
AVES rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 50 | −24.2% | +14.9% | +48.1% | 82% |
| 3-year (a year) | 26 | +0.8% | +14.5% | +21.8% | 100% |
| 5-year (a year) | 2 | +7.9% | +8.5% | +9.0% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
AVES performance overview
Avantis Emerging Markets Value ETF (AVES) returned +10.2% over the past year and +7.6% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +7.8% a year, turning $10,000 into about $14,593. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −27.4%, from Jan 12, 2022 to Oct 24, 2022, and it took 1.5 years to get back to the old high. AVES finished 3 of its 4 full calendar years with a gain; the best year was 2025 (+30.5%) and the worst 2022 (−16.0%). Volatility has been 16.4% a year.
Related: AVES chart, AVES holdings, AVES dividends. See the AVES overview for the latest quote and fund facts.
AVES performance FAQ
What is the AVES return over the past year?
AVES returned +10.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.2%.
What is the average annual return of AVES?
AVES has returned +7.6% a year over 5 years, +7.8% a year since September 30, 2021 (total return, distributions reinvested).
How much would $10,000 invested in AVES be worth?
$10,000 invested in AVES at its first recorded close on September 30, 2021 would be worth about $14,593 on October 23, 2026 with distributions reinvested.
What was the worst year for AVES?
The worst calendar year was 2022, with a total return of −16.0%. The best was 2025 at +30.5%.
What is the biggest drawdown of AVES?
The largest peak-to-trough decline was −27.4% between January 12, 2022 and October 24, 2022. It recovered to the old high on April 8, 2024, 1.5 years after the bottom.
How volatile is AVES?
Over the past 3 years AVES had an annualized volatility of 14.1% and a Sharpe ratio of 1.00 (excess return over 1–3 month T-bills per unit of risk).