# AVUV vs VBR: fees, holdings and returns compared

> AVUV vs VBR: what each ETF holds, what it costs, and how both did over the same dates, with yearly returns and worst drops.

AVUV holds about 800 small US companies that look cheap and make good profits, picked by Avantis with set rules. VBR holds about 820 small US value companies from a Morningstar index. AVUV leans further toward the smallest, cheapest companies. Over the same dates since September 2019, AVUV returned about 15.1% a year and VBR returned about 11.4% a year.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 20, 2026.

## Key points

- VBR costs less: 0.05% a year against 0.25%.
- AVUV started trading in September 2019. VBR started in January 2004.
- Worst drops since 2019: AVUV −49.4%, VBR −45.3%.
- Daily correlation: 0.97 (1 means they always move together).

## What is the difference between AVUV and VBR?

VBR copies an index: it takes the value side of small US companies, weighted by size. AVUV is actively managed. Its managers screen for companies that are both cheap and profitable and lean the fund harder toward those traits, so it holds smaller and cheaper companies than VBR on average. That can make AVUV's results differ more from the small-company market. AVUV charges a higher fee.

| Fact | AVUV | VBR |
| --- | --- | --- |
| Full name | Avantis U.S. Small Cap Value ETF | Vanguard Morningstar Small-Cap Value ETF |
| Issuer | Avantis Investors (American Century) | Vanguard |
| Expense ratio | 0.25% a year | 0.05% a year |
| Started trading | September 24, 2019 | January 26, 2004 |
| Tracks | No index (actively managed) | Morningstar US Small Cap Value Index |
| Holdings | 794 holdings as of September 30, 2026 | 820 holdings as of September 30, 2026 |
| Type | US stocks, ETF | US stocks, ETF |

Fund facts checked on the [Avantis Investors (American Century) AVUV page](https://www.avantisinvestors.com/avantis-investments/avantis-us-small-cap-value-etf/) and the [Vanguard VBR page](https://investor.vanguard.com/investment-products/etfs/profile/vbr).

## Is AVUV or VBR cheaper?

VBR costs less: 0.05% a year against 0.25%. On $10,000, that is about $25 a year for AVUV and $5 for VBR. The fund takes its fee out of its own value a little each day, so you never get a bill.

## AVUV vs VBR performance over the same dates

Both funds are measured from September 2019 to October 2026, the dates both traded. AVUV returned about 15.1% a year and VBR returned about 11.4% a year. AVUV came out ahead over this period, which does not mean it will again.

| Measure | AVUV | VBR |
| --- | --- | --- |
| $10,000 grew to | $26,959 | $21,399 |
| Total return | 169.6% | 114.0% |
| Return per year (CAGR) | 15.1% | 11.4% |
| Worst drop from a high | −49.4% | −45.3% |
| Volatility (how much it swings) | 27.7% | 24.1% |
| Last 12 months | 24.3% | 16.9% |
| Last 3 years, per year | 19.4% | 18.6% |
| Last 5 years, per year | 10.5% | 8.2% |

Prices through October 20, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## AVUV and VBR returns by year

| Year | AVUV | VBR |
| --- | --- | --- |
| 2026 (part of the year) | 19.7% | 14.4% |
| 2025 | 7.4% | 9.1% |
| 2024 | 9.3% | 12.4% |
| 2023 | 22.8% | 16.0% |
| 2022 | −4.9% | −9.4% |
| 2021 | 42.2% | 28.1% |
| 2020 | 6.4% | 5.9% |
| 2019 (part of the year) | 8.5% | 7.0% |

## Which fell further in bad times?

A drawdown is how far a fund falls from its last high point. AVUV's worst fall was −49.4%, from December 19, 2019 to March 23, 2020. It got back to that high on November 23, 2020.

VBR's worst fall was −45.3%, from January 16, 2020 to March 23, 2020. It got back to that high on November 24, 2020.

Their daily moves had a correlation of 0.97. A correlation of 1 means two funds always move up and down together. Near 0 means they move on their own. So holding both adds little variety.

## Why people choose AVUV or VBR

**AVUV.** People who want a stronger tilt toward small, cheap, profitable companies tend to pick AVUV.

**VBR.** People who want a plain small value index at a very low fee tend to pick VBR.

## Strategies that hold AVUV or VBR

These classic strategies hold one or both at least some of the time. Each is a set of written rules you can open, test and copy.

- [Golden Butterfly Portfolio](https://tactfolio.com/strategies/golden-butterfly-portfolio.md), by Tyler (Portfolio Charts), 2015 (holds VBR)

## Other funds like AVUV and VBR

Each fund has more funds that hold the same kind of investments, ranked by how closely they move with it: [AVUV alternatives](https://tactfolio.com/alternatives/AVUV.md) and [VBR alternatives](https://tactfolio.com/alternatives/VBR.md).

## Test a mix of AVUV and VBR

Open the [builder](https://tactfolio.com/builder), add AVUV and VBR, and give each a weight, such as 50% and 50%. The backtest shows how the mix would have done, with its worst drop, on daily prices. You can also add a rule, for example to switch between them, and compare. Read the full pages for [AVUV](https://tactfolio.com/etf/AVUV.md) and [VBR](https://tactfolio.com/etf/VBR.md), or see [more ETF comparisons](https://tactfolio.com/etf-comparisons.md).

## The details

Both funds use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. They are compared only on days both traded, starting the later fund's first day, so neither gets a head start. Correlation uses daily returns over the same days. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### Is AVUV an index fund?

No. AVUV is actively managed: its managers pick stocks using set rules instead of copying an index. VBR follows a Morningstar index.

### Why does AVUV have a shorter history than VBR?

AVUV started in September 2019 and VBR in 2004, so the comparison above starts in late 2019.

### Which is cheaper, AVUV or VBR?

VBR costs less: 0.05% a year against 0.25%. Fees come from each issuer and were checked on October 17, 2026.

### Which did better, AVUV or VBR?

From September 2019 to October 2026, AVUV returned about 15.1% a year and VBR returned about 11.4% a year, with dividends reinvested. Their worst drops were −49.4% and −45.3%. Past returns do not tell you what comes next.

## Sources

- [Avantis Investors (American Century): Avantis U.S. Small Cap Value ETF fund page](https://www.avantisinvestors.com/avantis-investments/avantis-us-small-cap-value-etf/)
- [Vanguard: Vanguard Morningstar Small-Cap Value ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vbr)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.