Avantis Core Municipal Fixed Income ETF (AVMU) Performance
AVMU total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.0% since Dec 31, 2025
- 1 year
- −0.9% total return
- 5 years
- +0.4% a year
- Since first price
- +0.2% a year since 2020
AVMU trailing returns vs AGG, TLT, SPY
| Period | AVMU total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +2.4% | +2.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.5% | −2.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −3.3% | −5.0% | −1.5% | −3.8% | +7.8% |
| YTD | −2.0% | −4.5% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.9% | −4.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +11.7%+3.8%/yr | +0.9% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +1.9%+0.4%/yr | −11.0% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionDec 10, 2020 | +1.4%+0.2%/yr | −11.9% | — | — | — |
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: AVMU vs AGG
From Dec 10, 2020: AVMU grew to $10,141, AGG to $9,743.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
AVMU returns by calendar year
4 of 5 full years positive. Best 2023 (+5.2%), worst 2022 (−7.3%). 2026 is year to date.
AVMU annual returns table
| Year | AVMU | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −2.0% | −8.6% | −1.0% | −3.4% | +12.3% |
| 2025 | +3.9% | −6.4% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.7% | −2.1% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.2% | −5.9% | +5.7% | +2.8% | +26.2% |
| 2022 | −7.3% | −11.6% | −13.0% | −31.2% | −18.2% |
| 2021 | +0.3% | −2.2% | −1.8% | −4.6% | +28.7% |
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.
AVMU largest drawdowns
Now 4.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 19, 2021 | −12.4% | Oct 25, 2022 | Oct 8, 2025 | 1.3 years | 4.2 years |
| Jul 6, 2026 | −8.6% | Sep 29, 2026 | not yet | 3 months | 4 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
AVMU risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +2.1% | −0.4% | −0.4% |
| Volatility (annualized) | 6.2% | 6.6% | 6.2% |
| Sharpe ratio | -0.34 | -0.58 | -0.54 |
| Sortino ratio | -0.46 | -0.76 | -0.70 |
| Best month | +6.2% | +6.2% | +6.2% |
| Worst month | −4.3% | −4.3% | −4.3% |
| Best 12 months | +9.5% | +9.5% | +9.5% |
| Worst 12 months | −3.0% | −11.0% | −11.0% |
| Positive months | 58% | 50% | 52% |
| Beta vs S&P 500 | 0.30 | 0.27 | — |
| Correlation with S&P 500 | 0.60 | 0.63 | — |
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.
AVMU rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 59 | −11.0% | +1.8% | +9.5% | 69% |
| 3-year (a year) | 35 | −1.1% | +1.5% | +4.8% | 69% |
| 5-year (a year) | 11 | −0.4% | +0.8% | +1.4% | 91% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
AVMU performance overview
Avantis Core Municipal Fixed Income ETF (AVMU) returned −0.9% over the past year and +0.4% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +0.2% a year, turning $10,000 into about $10,141. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −12.4%, from Jul 19, 2021 to Oct 25, 2022, and it took 3.0 years to get back to the old high. AVMU finished 4 of its 5 full calendar years with a gain; the best year was 2023 (+5.2%) and the worst 2022 (−7.3%). Volatility has been 6.2% a year.
Related: AVMU chart, AVMU dividends, AVMU bond profile. See the AVMU overview for the latest quote and fund facts.
AVMU performance FAQ
What is the AVMU return over the past year?
AVMU returned −0.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.3%.
What is the average annual return of AVMU?
AVMU has returned +0.4% a year over 5 years, +0.2% a year since December 10, 2020 (total return, distributions reinvested).
How much would $10,000 invested in AVMU be worth?
$10,000 invested in AVMU at its first recorded close on December 10, 2020 would be worth about $10,141 on October 23, 2026 with distributions reinvested.
What was the worst year for AVMU?
The worst calendar year was 2022, with a total return of −7.3%. The best was 2023 at +5.2%.
What is the biggest drawdown of AVMU?
The largest peak-to-trough decline was −12.4% between July 19, 2021 and October 25, 2022. It recovered to the old high on October 8, 2025, 3.0 years after the bottom.
How volatile is AVMU?
Over the past 3 years AVMU had an annualized volatility of 6.2% and a Sharpe ratio of -0.34 (excess return over 1–3 month T-bills per unit of risk).