Avantis International Large Cap Value ETF

Avantis International Large Cap Value ETF (AVIV) is an actively managed fund from American Century Investments. As of May 31, 2026, it held 652 large companies outside the US, tilted toward cheaper, more profitable stocks. It charges 0.25% a year. That is below the 0.38% average of similar funds and slightly less than Dimensional International Value ETF (DFIV) at 0.27%. It had a trailing yield of 2.85% as of October 27, 2026.

• Over the year to Oct 27, 2026, AVIV returned +19.7%, 7th of 7 among similar funds.
• Its 5-year annualized return was +12.6%.
• Its worst full calendar year was 2022 (-8.3%); its best was 2025 (+41.8%).
• The deepest fall in its price history was 27.7% (Jan 14, 2022 to Sep 27, 2022), recovered by Jul 28, 2023.

As of Aug 31, 2026, the fund held 595 securities; the ten largest made up 16.33% of assets.

• Over the three months to Aug 31, 2026, investors added a net $218.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -1.95%, +4.17%, +2.67%.

AVIV is actively managed, so it doesn't copy an index. Its managers start with large companies outside the US. A company counts as large if it is at least as big as the smallest company in the MSCI World ex-USA Value Index, which was about $3.9 billion as of September 30, 2025. At least 80% of assets go to these companies, spread across at least three countries.

Within that group, the managers favor stocks that look cheap and profitable, and they lean toward the smaller end of the large-cap range. "Value" mainly means a high adjusted book-to-price ratio, which compares a company's accounting net worth with its share price. "Profitability" mainly means cash from operations relative to book value. Each stock starts at its market-value weight and is then moved up or down based on these traits. The managers also weigh recent price performance, liquidity, trading costs and taxes. They drop stocks that no longer fit and review their criteria regularly, not on a fixed schedule.

As of May 31, 2026, the fund held no derivatives. It may lend out securities, which carries a risk of loss if a borrower fails to return them. It may also process creations and redemptions in cash, which can force sales that pass taxable gains to holders. Currency moves affect returns.

• AVIV charges 0.25% a year, versus an average of 0.38% for the similar funds below (2nd of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $319 over 10 years (assuming a 5% annual return).

It adds large non-US value stocks, led by Japan, the UK and Canada, which can balance a portfolio weighted toward US companies.

AVIV adds large non-US companies to a portfolio, led by Japan (20%), the UK (14%) and Canada (13%) as of May 31, 2026. Its value tilt differs from growth-heavy US holdings. The fund launched in September 2021, so it has no record in the 2008 or 2020 crashes. In the 2022 bear market it fell 27.7% from its January 14 peak to its September 27 low. It took 10 months to recover, getting back to its peak by July 28, 2023. A late rebound cut its 2022 calendar-year loss to 8.3%. Selling near the low would have locked in a deep loss. The fund pays dividends quarterly, with a trailing yield of 2.85% as of October 27, 2026. It costs 0.25% a year, or $26 in the first year on $10,000 under the SEC example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).