AVSE vs. CWI ETF Comparison

Comparison of Avantis Responsible Emerging Markets Equity ETF (AVSE) to SPDR MSCI ACWI ex-US ETF (CWI)

AVSE

Avantis Responsible Emerging Markets Equity ETF

AVSE Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of companies related to emerging markets across market sectors, industry groups and countries. The fund may invest in companies of all market capitalizations. The portfolio management team limits its investable universe of companies by screening out those that raise concerns based on the team?s evaluation of multiple ESG metrics.

Grade (RS Rating)

Last Trade

$52.28

Average Daily Volume

3,334

Number of Holdings ^*

89

* may have additional holdings in another (foreign) market

CWI

SPDR MSCI ACWI ex-US ETF

CWI Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index. The fund employs a sampling strategy in seeking to track the performance of the MSCI All Country World Index ex USA. It invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in ADRs or GDRs based on securities comprising the index. The index is a float-adjusted market capitalization index that is designed to measure the combined equity market performance of developed and emerging market countries excluding the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$28.66

Average Daily Volume

156,410

Number of Holdings ^*

89

* may have additional holdings in another (foreign) market

Performance

Period	AVSE	CWI
30 Days	-4.16%	-3.80%
60 Days	-1.36%	-3.51%
90 Days	-1.56%	-3.73%
12 Months	15.31%	13.36%

42 Overlapping Holdings

	Symbol	Grade	Weight in AVSE	Weight in CWI	Overlap
	ABEV	F	0.08%	0.06%	0.06%
	ATHM	C	0.06%	0.01%	0.01%
	BABA	D	1.8%	0.6%	0.6%
	BABA	D	1.8%	0.09%	0.09%
	BAP	A	0.18%	0.08%	0.08%
	BBD	D	0.16%	0.07%	0.07%
	BEKE	D	0.17%	0.05%	0.05%
	BGNE	D	0.03%	0.04%	0.03%
	BGNE	D	0.05%	0.04%	0.04%
	BIDU	F	0.05%	0.1%	0.05%
	BILI	D	0.0%	0.02%	0.0%
	BZ	F	0.01%	0.01%	0.01%
	CHT	C	0.06%	0.11%	0.06%
	CIB	B	0.04%	0.05%	0.04%
	CIG	C	0.12%	0.04%	0.04%
	HDB	C	0.56%	0.25%	0.25%
	HTHT	D	0.25%	0.03%	0.03%
	IBN	C	0.48%	0.27%	0.27%
	INFY	C	0.76%	0.33%	0.33%
	IQ	F	0.06%	0.01%	0.01%
	ITUB	F	0.34%	0.15%	0.15%
	KB	B	0.48%	0.11%	0.11%
	LI	F	0.29%	0.05%	0.05%
	NIO	F	0.02%	0.03%	0.02%
	PDD	F	0.71%	0.28%	0.28%
	PHI	D	0.03%	0.02%	0.02%
	QFIN	A	0.09%	0.02%	0.02%
	RDY	F	0.09%	0.08%	0.08%
	SBSW	D	0.07%	0.01%	0.01%
	SCCO	F	0.05%	0.0%	0.0%
	SHG	C	0.38%	0.09%	0.09%
	SQM	D	0.03%	0.03%	0.03%
	TAL	F	0.0%	0.02%	0.0%
	TCOM	B	0.27%	0.13%	0.13%
	TME	D	0.08%	0.03%	0.03%
	TSM	B	5.9%	3.02%	3.02%
	UMC	F	0.24%	0.1%	0.1%
	VIPS	F	0.23%	0.03%	0.03%
	WIT	B	0.07%	0.04%	0.04%
	XPEV	C	0.01%	0.02%	0.01%
	XPEV	C	0.01%	0.02%	0.01%
	YUMC	C	0.41%	0.07%	0.07%

AVSE Overweight 49 Positions Relative to CWI

	Symbol	Grade	Weight
	NTES	D	0.51%
	CPNG	D	0.28%
	ASX	D	0.22%
	ZTO	F	0.2%
	GFI	D	0.17%
	PAC	B	0.16%
	SUZ	B	0.14%
	TLK	D	0.13%
	STNE	F	0.13%
	SBS	B	0.11%
	FMX	F	0.1%
	LPL	D	0.09%
	OMAB	D	0.09%
	EBR	F	0.08%
	ASAI	F	0.08%
	CAR	C	0.08%
	BCH	C	0.08%
	SKM	C	0.07%
	ASR	D	0.07%
	VIV	F	0.06%
	TKC	B	0.06%
	MNSO	D	0.06%
	KT	A	0.05%
	TV	F	0.05%
	SGRP	D	0.04%
	PAGS	F	0.04%
	ASAI	F	0.04%
	IFS	A	0.04%
	MOMO	D	0.04%
	AKO.A	F	0.04%
	BSAC	C	0.04%
	ELP	F	0.04%
	YY	B	0.04%
	LX	B	0.03%
	NOAH	D	0.03%
	SOHU	F	0.03%
	IMOS	F	0.03%
	VNET	B	0.02%
	BSBR	F	0.02%
	CCU	D	0.02%
	WB	D	0.02%
	PDSB	F	0.01%
	NIU	F	0.0%
	DAO	B	0.0%
	TIGR	D	0.0%
	TUYA	D	0.0%
	CANG	B	0.0%
	API	B	0.0%
	CAAS	C	0.0%

AVSE Underweight 48 Positions Relative to CWI

	Symbol	Grade	Weight
	NVS	F	-0.81%
	TM	F	-0.68%
	HSBH	B	-0.66%
	UL	D	-0.54%
	SHOP	B	-0.52%
	MUFG	B	-0.51%
	SONY	B	-0.47%
	ABBV	F	-0.45%
	TD	D	-0.44%
	CNI	F	-0.32%
	SMFG	B	-0.27%
	DEO	F	-0.27%
	BCS	A	-0.21%
	HMC	F	-0.16%
	LYG	D	-0.16%
	MFG	A	-0.15%
	E	F	-0.15%
	SE	A	-0.14%
	VALE	F	-0.13%
	STLA	F	-0.1%
	TEVA	C	-0.07%
	NMR	B	-0.07%
	PKX	D	-0.06%
	CHKP	C	-0.06%
	XRX	F	-0.05%
	AGCO	D	-0.04%
	RBA	A	-0.04%
	WIX	A	-0.04%
	ENIC	B	-0.04%
	MT	B	-0.04%
	CYBR	A	-0.04%
	GGB	C	-0.03%
	CSAN	F	-0.03%
	LOGI	D	-0.03%
	GRAB	A	-0.03%
	AER	A	-0.03%
	MNDY	C	-0.03%
	OTEX	F	-0.03%
	LEGN	D	-0.02%
	BRFS	C	-0.02%
	FUTU	D	-0.02%
	KEP	B	-0.02%
	VALE	F	-0.01%
	GLBE	B	-0.01%
	MBAVU	C	-0.01%
	BVN	D	-0.01%
	SID	F	-0.01%
	QGEN	D	-0.0%

AVSE: Top Represented Industries & Keywords

Industries: Internet Content & Information Banks - Regional - Latin America Telecom Services Auto Manufacturers Banks - Regional - Asia Semiconductors Specialty Retail Airports & Air Services Beverages - Brewers Information Technology Services Biotechnology Credit Services Gold Software - Application Software - Infrastructure Utilities - Diversified Asset Management Auto Parts Beverages - Non-Alcoholic Broadcasting - TV

Keywords: Bank Banking Broadband Investment Banking Cloud Computing Currency Internet Access Telecommunications Advertising Services Electronics Financial Products Games Commercial Banking E-Commerce Information And Communications Technology Investment Banking Services Online Game Telecommunication Services Broadband Internet Broadcasting

CWI: Top Represented Industries & Keywords

Industries: Auto Manufacturers Internet Content & Information Banks - Regional - Asia Software - Application Banks - Global Banks - Regional - Latin America Steel Information Technology Services Specialty Retail Biotechnology Capital Markets Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Industrial Metals & Minerals Semiconductors Telecom Services Utilities - Regulated Electric Airports & Air Services Banks - Regional - Europe Beverages - Brewers

Keywords: Banking Bank Investment Banking Financial Products Investment Banking Services Cash Management Investment Bank Investment Product Telecommunications Transport Asset Management Asset Management Services Cars Commercial Banking Currency Insurance Products Mining Pharmaceutical Structured Finance Cash Management Services