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ETF Comparison

AVUV vs VBR: A Manager's Book, or a Small-Cap Value Index?

A head-to-head of Avantis U.S. Small Cap Value and Vanguard Small Cap Value covering how each book is built, cost, and concentration.

Updated October 16, 2026

How these figures are calculated: methodology.

Best for

  • AVUVInvestors who want broad equity exposure.
  • VBRInvestors who want broad equity exposure.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

AVUV has outpaced VBR over the trailing twelve months, posting a 25.32% total return against 17.53%. The lead holds up over 5 years too: AVUV has compounded at 10.71% a year, against 8.32% for VBR. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualizedSince Sep 2019Volatility Sharpe Sortino Max drawdown
AVUV18.88%25.32%17.89%10.71%14.97%20.5%0.600.89-28.8%
VBR13.30%17.53%16.80%8.32%11.23%17.6%0.650.95-24.2%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2019” measures every fund from September 26, 2019 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricAVUVVBR
Full nameAvantis U.S. Small Cap Value ETFVanguard Morningstar Small-Cap Value ETF
IssuerAvantisVanguard
Last Close$120.08 as of October 16, 2026$236.48 as of October 16, 2026
Distribution rate1.38%1.74%
Trailing 12-month yield1.26%1.87%
Distribution Safety Score™ 8895
Safety-Adjusted Yield 1.21%1.65%
Expense ratio0.25%0.05%
AUM$30.9B$35.6B
Distribution frequencyQuarterlyQuarterly
Underlying indexActively managed (no tracked index recorded)Morningstar US Small Cap Value Index
ObjectiveActively managed ETF investing in US small-cap value companies with higher expected returns.Seeks to track the Morningstar US Small Cap Value Index.
Asset classEquityEquity
Inception date09/24/201901/26/2004
Beta0.980.94
Last dividend$0.414$1.03
Ex-dividend date09/08/202609/28/2026

Bottom lineAVUV and VBR are both for investors who want broad equity exposure — so strategy isn't the deciding factor here. Cost is: VBR charges 0.05% against 0.25% for AVUV, and between two funds this similar that gap comes straight out of your return every year you hold.

AVUV vs VBR: active small-cap value or an index?

AVUV is Avantis' managed book. VBR is a published small-cap value index. Active versus rules is the decision.

AVUVVBR
How it is builtActive small-cap valueMorningstar US Small Cap Value Index
Expense ratio0.25%0.05%
Distribution rate1.38%1.74%
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Avantis
ETFs32
Total AUM$155B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Avantis is known for factor-based investing strategies that emphasize value and momentum across multiple asset classes. Their lineup of 10 ETFs spans equity, international, and bond categories, with a focus on systematic factor exposure rather than traditional market-cap weighting. The issuer's fund family includes both domestic and international options designed to capture specific return premiums through disciplined, rules-based approaches.

See our curated list of related YouTube videos on AVUV.

See all ETFs from Avantis
Vanguard
ETFs116
Total AUM$4.71T

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VBR.

See all ETFs from Vanguard

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Quick verdict

AVUV (Avantis U.S. Small Cap Value ETF) and VBR (Vanguard Morningstar Small-Cap Value ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

VBR offers the higher yield at 1.74% vs 1.38% for AVUV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VBR is cheaper with an expense ratio of 0.05% compared to 0.25%.

VBR is the larger fund by assets ($35.6B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, AVUV would generate roughly $34.50 cash per distribution, while VBR would produce $43.50 cash per distribution, at current distribution rates. Both pay quarterly distributions.

AVUV yield1.38%
VBR yield1.74%
Cash diff on $10K$9.00

Cost & efficiency

Over 10 years on $10,000, AVUV would cost approximately $250 in fees vs $50 for VBR (simplified, not compounded). The $200.00 difference may be offset by yield or performance.

AVUV ER0.25%
VBR ER0.05%

Strategy & risk

AVUV is an actively managed ETF, while VBR tracks Morningstar US Small Cap Value Index with a small caps approach. Beta is 0.98 for AVUV and 0.94 for VBR — effectively similar market sensitivity.

AVUV beta0.98
VBR beta0.94

Fund details

AVUV is managed by Avantis (launched 09/24/2019) with $30.9B in assets. VBR is managed by Vanguard (launched 01/26/2004) with $35.6B in assets.

AVUV AUM$30.9B
VBR AUM$35.6B
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Frequently asked questions

What is the difference between AVUV and VBR?

AVUV (Avantis U.S. Small Cap Value ETF) is Avantis' active small-cap value book. VBR (Vanguard Morningstar Small-Cap Value ETF) tracks Morningstar US Small Cap Value Index. Cost is 0.25% versus 0.05%; distributions are 1.38% and 1.74% as of October 2026. Active judgment versus a published small-cap value index is the decision.

What is the current distribution rate for AVUV and VBR?

AVUV currently distributes 1.38% and VBR 1.74%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is AVUV or VBR better for dividend income?

It depends on your goals. VBR currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both AVUV and VBR?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is AVUV or VBR safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VBR scores 95, AVUV scores 88, so VBR's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, AVUV or VBR?

AVUV has an expense ratio of 0.25% while VBR charges 0.05%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in AVUV vs VBR generate?

At current rates, $10,000 in AVUV would generate roughly $34.50 cash per distribution ($138.00 annually). The same in VBR would produce about $43.50 cash per distribution ($174.00 annually).

Which has performed better historically, AVUV or VBR?

AVUV has outpaced VBR over the trailing twelve months, posting a 25.32% total return against 17.53%. The lead holds up over 5 years too: AVUV has compounded at 10.71% a year, against 8.32% for VBR. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

AVUV vs VBR — at a glance

Generated October 17, 2026.

Overview

AVUV and VBR both track U.S. small-cap value stocks and pay quarterly distributions, but they take fundamentally different approaches to building their portfolios. The key distinction is management philosophy: AVUV aims to outperform through stock selection; VBR aims to match its index at minimal cost.

How they differ

The most significant difference is structure. AVUV is actively managed with discretionary stock selection, while VBR is index-based and holds a fixed methodology of Morningstar's small-cap value criteria. VBR compensates investors for that lower cost with a higher distribution rate of 1.74% against AVUV's 1.38%, a 0.36% difference. Both funds have similar systematic risk: AVUV's beta is 0.98 and VBR's is 0.94, suggesting comparable sensitivity to small-cap market moves. VBR operates from a larger asset base of $35.6B, while AVUV manages $30.9B.

Who each is best for

  • AVUV: Investors who believe active security selection in small-cap value can justify its fee premium and want a manager focused on expected-return optimization within that segment, accepting the risk that active outperformance may not materialize.
  • VBR: Investors seeking methodical small-cap value exposure with minimal costs, preferring a transparent, index-anchored approach and preferring the higher current distribution rate that passive management typically supports.

Key risks to know

  • Active underperformance for AVUV: Active managers in small-cap value may underperform their index benchmark after fees. AVUV's 0.25% fee advantage over index competitors is modest, meaning it must deliver meaningful alpha to justify active management cost.
  • Distribution rate sustainability: VBR's 1.74% yield is 0.36% higher than AVUV's, raising the question of whether it reflects superior underlying earnings growth or a higher proportion of return-of-capital payouts that could signal NAV erosion over time.
  • Small-cap value concentration and cyclicality: Both funds hold value stocks in the small-cap segment, which experience pronounced cyclical swings tied to economic sentiment, interest rates, and rotation between value and growth. Market downturns often hit small-cap value particularly hard.
  • Overlapping holdings: Both funds target the same market segment (U.S. small-cap value), so their portfolios likely overlap substantially. Holdings-level overlap is not available, but investors should verify that their combined exposure doesn't concentrate risk unintentionally.

Bottom line

If you value transparency and cost discipline, VBR's passive index approach and 0.05% fee stand out. If you believe active stock selection can generate returns that exceed its 0.25% fee in small-cap value, AVUV offers that bet. VBR currently offers a higher distribution yield, but the sustainability of that payout relative to AVUV's lower distribution rate deserves investigation. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.