At a glance
AVNV charges 0.34% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $77.1M in assets, the 8th largest of that group; it paid 3.22% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +17.1% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds; over three years it returned +23.8% a year.
The short version
Avantis All International Markets Value ETF (AVNV) is an actively managed "fund of funds" from American Century Investments. It owns three other Avantis ETFs, which together hold value stocks in developed markets outside the US and in emerging markets. It puts large-company, small-company and emerging-market value stocks into one ticker for a total expense ratio of 0.34%. It is a small fund, with $77.1 million in net assets as of August 31, 2026.
Price history
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AVNV +17.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AVNV official prospectus, to Dec 31, 2024 | — | +5.40% | — | — | — | +9.97% |
| MSCI ACWI IMI Index index, same period | — | +5.23% | — | — | — | +8.13% |
| AVNV price data to Oct 27, 2026 | +12.4% | +17.1% | +23.8% | — | — | +19.7% |
- Over the year to Oct 27, 2026, AVNV returned +17.1%, 1st of 8 among similar funds.
- Its worst full calendar year was 2024 (+5.4%); its best was 2025 (+39.9%).
- The deepest fall in its price history was 13.9% (Mar 19, 2025 to Apr 8, 2025), recovered by May 2, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.4% | — |
| 2025 | +39.9% | — |
| 2024 | +5.4% | +5.40% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.4100 | |
| 2025 | $2.3500 | +21.1% |
| 2024 | $1.9400 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 99.89% of assets.
| Fund held | Weight | |
|---|---|---|
| Avantis International Large Cap Value ETF | 45.69% | |
| Avantis Emerging Markets Value ETF | 28.63% | |
| Avantis International Small Cap Value ETF | 25.57% |
By country
United States 99.89%By asset type
Stocks 99.89%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $13.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.95%, +0.77%, +5.00%.
How it works
AVNV does not track an index. It is a "fund of funds," meaning it buys other Avantis ETFs instead of buying stocks directly. Its target is 70% in non-US developed markets, through Avantis International Large Cap Value ETF (AVIV) and Avantis International Small Cap Value ETF (AVDV). The other 30% goes to emerging markets through Avantis Emerging Markets Value ETF (AVES). Each underlying fund leans toward "value" stocks, meaning shares that look cheap compared with the company's earnings or assets. They also favor stocks expected to have higher returns or better risk characteristics than a plain index weighted by company size.
As of August 31, 2026, AVIV made up 45.7% of the fund, AVES 28.6% and AVDV 25.6%, with about 0.1% in cash. The managers review the mix regularly. They can let it drift within set ranges: 65% to 85% for developed markets and 15% to 40% for emerging markets. Doing so helps them balance risk and keep trading costs and taxable gains down. They can also change the ranges or swap the underlying funds.
A few mechanics matter. Holders pay the underlying funds' expenses indirectly. Because all the underlying funds are run by American Century, the prospectus flags a possible conflict of interest. The fund may also handle creations and redemptions in cash, which can make it less tax-efficient than ETFs that swap securities in kind.
What it really costs
- AVNV charges 0.34% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0.05% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.02% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $35 in the first year and $454 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AVNV | $35 | $114 | $200 | $454 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It adds non-US value stocks, including small companies and emerging markets, which many US-focused portfolios own little of.
AVNV could broaden a portfolio built mostly on US stocks. It adds international value stocks, including small companies and emerging markets, in a single holding. Its record is short. The fund launched on June 27, 2023, so it did not exist during the 2008, 2020 or 2022 downturns. Its weakest calendar year so far was 2024, when it still gained 5.4%. Its deepest drop was 13.9%, from March 19 to April 8, 2025, and it recovered by May 2, 2025. A short, mostly rising stretch says little about how it might hold up in a long bear market. Someone who may need to sell shares in a bad year should expect larger, longer declines at some point.
The trailing yield was 3.22% as of October 27, 2026, paid quarterly. Costs are moderate: the SEC's standard example puts them at $35 in the first year and $454 over 10 years on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want non-US developed and emerging-market value stocks, both large and small companies, in one fund at a 0.34% total expense ratio.
- Long-term holders who would rather have managers keep a roughly 70/30 developed and emerging-market mix than rebalance three separate funds themselves.
- Investors comfortable with stock-market swings who value quarterly payouts; the trailing yield was 3.22% as of October 27, 2026.
Look elsewhere if
- Anyone who wants a long track record: launched in June 2023, it has never been through a major bear market like 2008 or 2022.
- Those who prefer a large fund; net assets were $77.1 million as of August 31, 2026, and small ETFs can trade with wider bid/ask spreads.
- Investors seeking US stocks, growth stocks or a passive index; it holds only non-US markets, and value strategies can trail for long stretches.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| AVNV this fund | 0.34% | $77.1M | +17.1% | +23.8% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does AVNV invest in?
AVNV invests in three other Avantis ETFs, not individual stocks. As of August 31, 2026, it held 45.7% in Avantis International Large Cap Value ETF (AVIV), 28.6% in Avantis Emerging Markets Value ETF (AVES) and 25.6% in Avantis International Small Cap Value ETF (AVDV). The target is 70% non-US developed markets and 30% emerging markets. Every underlying fund leans toward value stocks: shares priced low compared with the company's earnings or assets.
Is AVNV good for retirement?
AVNV may suit retirement investors who want international value stocks to sit beside US holdings, but its history is short. It launched in June 2023 and has not faced a major bear market. Its deepest drop was 13.9% in spring 2025, and it recovered in under a month. Its weakest calendar year was 2024, with a 5.4% gain. The total expense ratio is 0.34%. Since it holds only stocks, it can fall sharply, which matters for anyone who may need to sell in a downturn.
Does AVNV pay dividends?
Yes. AVNV pays distributions quarterly. Over the 12 months to October 27, 2026, it paid $2.66 per share, a trailing yield of 3.22%. The payouts come from dividends earned by the stocks inside its three underlying Avantis funds, so they can rise or fall from year to year. Value stocks often pay higher dividends than growth stocks, but this fund aims for long-term capital appreciation, not a set level of income.
What's the difference between AVNV and AVIV?
AVIV is one of the funds AVNV owns. AVIV holds only large-company value stocks in developed markets outside the US. AVNV combines AVIV with Avantis International Small Cap Value ETF and Avantis Emerging Markets Value ETF, which adds smaller companies and emerging markets. As of August 31, 2026, AVIV made up 45.7% of AVNV. AVNV holders also pay the underlying funds' expenses. AVNV's total expense ratio is 0.34%, and its own management fee is 0.05%.
How has AVNV performed since launch?
AVNV has done well over its short life, mostly thanks to 2025. In the prospectus figures, it returned 5.40% in 2024 and 9.97% a year from launch through December 31, 2024. The MSCI ACWI IMI Index, a global index that includes US stocks, returned 5.23% and 8.13% over the same periods. Based on price, the fund gained 39.89% in 2025 and 17.1% over the year to October 27, 2026.