AVES
Avantis Emerging Markets Value ETF
AVES is an actively managed fund of emerging market equities with lower prices relative to their book values.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
504.2 M
ASSETS UNDER MGMT
36 bp
EXPENSES
Fund Basics
| Fund sponsor | American Century Investments |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 28, 2021 |
| Assets (mns) | $504 |
| Expense ratio | 36 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| KB FINANCIAL GROUP INC-ADR | 1.1 % |
| CHINATRUST FINANCIAL HOLDING | 1.0 % |
| LARSEN & TOUBRO LIMITED | 1.0 % |
| CATHAY FINANCIAL HOLDING CO | 1.0 % |
| FUBON FINANCIAL HOLDING CO | 1.0 % |
| HANA FINANCIAL GROUP | 0.9 % |
| KIA MOTORS CORPORATION | 0.9 % |
| CHINA RESOURCES POWER HOLDIN | 0.9 % |
| HYUNDAI MOTOR CO | 0.8 % |
| SHINHAN FINANCIAL GROUP-ADR | 0.8 % |
Constituent Breakdown
| Number of holdings | 1631 |
| Herfindahl-Hirschman Index | 30 |
| Wgt avg mkt cap (mns) | $11,995 |
| Large cap (>$10bn) | 44.4% |
| Mid cap ($2-10bn) | 36.0% |
| Small cap (<$2bn) | 18.4% |
| Developed mkts. | 10.7% |
| Emerging mkts. | 89.3% |
Country Exposure
 |
TAIWAN | 19.9 % |
 |
INDIA | 19.6 % |
 |
CHINA | 14.5 % |
 |
SOUTH KOREA | 13.4 % |
 |
HONG KONG | 6.5 % |
 |
BRAZIL | 4.1 % |
 |
SOUTH AFRICA | 3.3 % |
 |
MEXICO | 2.1 % |
 |
INDONESIA | 1.8 % |
 |
MALAYSIA | 1.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.0% | 22.4% | 18.8% | -- | -- | -- | 2.5% | Volatility | 15.3% | 15.2% | 15.2% | 16.6% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.76 | 56% |
| MSCI EAFE | 0.88 | 78% |
| MSCI Emg Mkts | 0.99 | 95% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.21% |
| ADV of underlying (mns) | $11,703 |
Technical Indicators
| Recent close | $48.11 |
| 30d moving avg. | $51.33 |
| Annualized volatility | 17.7% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.9% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. AVES |
Expenses vs. AVES |
ALTAR Score™ vs. AVES |
|---|---|---|---|---|
| AVEM | Avantis Emerging Markets Equity ETF | 41.6% | -3 bp | -2.8% |
| DFEV | Dimensional Emerging Markets Value ETF | 31.0% | +7 bp | -0.6% |
| MFEM | PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 27.1% | +14 bp | +1.4% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 25.8% | +13 bp | -3.5% |
| ROAM | Hartford Multifactor Emerging Markets ETF | 25.8% | +8 bp | +4.2% |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 25.8% | +2 bp | -3.9% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 22.9% | -1 bp | -4.4% |
| EVLU | iShares MSCI Emerging Markets Value Factor ETF | 22.6% | -1 bp | +0.8% |
| DFSE | Dimensional Emerging Markets Sustainability Core 1 ETF | 22.6% | +5 bp | -4.3% |
| TLTE | FlexShares Morningstar Emerging Markets Factor Tilt Index | 22.5% | +23 bp | -0.4% |
Risk and Returns: AVES vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
AVES
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
AVES
11.8%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. AVES's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places AVES in the 83rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
AVESSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Emerging Market Equity ETFs |
| # of ETFs | 22 |
| Avg. Expense Ratio | 60.3 bp |
| Std. Deviation | 21.7 bp |
| AVES (36 bp) Percentile rank | 13 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| AVES | 36.0 | 20.7 | 56.7 |
| Peer Avg. | 41.8 | 27.4 | 69.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .