At a glance
AVRE charges 0.17% a year, above the 0.16% average of the 8 funds most like it (the 6th cheapest of 9). It has $861.1M in assets, the 9th largest of that group; it paid 3.03% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +3.5% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +12.6% a year. At its worst it fell 31.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 40 months after the low. Its ten largest positions make up 41.5% of the fund, out of 321 in all.
The short version
Avantis Real Estate ETF (AVRE) is an actively managed fund from American Century Investments. It holds about 320 real estate stocks in the US and abroad, mostly real estate investment trusts (REITs), and measures itself against the S&P Global REIT Index. Unlike a plain index fund, it may hold less of REITs that carry heavy debt. Its 0.17% expense ratio is close to the 0.16% average for similar funds.
Price history
The interactive chart needs JavaScript.
AVRE +3.5% 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 | |
|---|---|---|---|---|---|---|
| AVRE official prospectus, to Dec 31, 2024 | — | +0.47% | — | — | — | -2.27% |
| MSCI World IMI Index index, same period | — | +17.52% | — | — | — | +7.18% |
| S&P Global REIT Index index, same period | — | +2.77% | — | — | — | -1.46% |
| AVRE price data to Oct 27, 2026 | +6.4% | +3.5% | +12.6% | +0.5% | — | +1.6% |
- Over the year to Oct 27, 2026, AVRE returned +3.5%, 7th of 9 among similar funds.
- Its 5-year annualized return was +0.5%.
- Its worst full calendar year was 2022 (-23.7%); its best was 2023 (+9.2%).
- The deepest fall in its price history was 32.5% (Dec 31, 2021 to Oct 25, 2023), recovered by Apr 17, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.4% | — |
| 2025 | +8.3% | — |
| 2024 | +0.5% | +0.47% |
| 2023 | +9.2% | +8.96% |
| 2022 | -23.7% | -24.42% |
| 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 | Lost 31% over that stretch · deepest drop along the way 31%, back to its old high 40.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.8300 | |
| 2025 | $1.8700 | +11.3% |
| 2024 | $1.6800 | +15.9% |
| 2023 | $1.4500 | -7.1% |
| 2022 | $1.5600 |
What's inside
As of Aug 31, 2026, the fund held 321 securities; the ten largest made up 41.54% of assets.
| Holding | Weight | |
|---|---|---|
| Welltower Inc | 7.64% | |
| Prologis Inc | 6.62% | |
| Equinix Inc | 5.57% | |
| American Tower Corp | 4.09% | |
| Digital Realty Trust Inc | 3.50% | |
| Simon Property Group Inc | 3.45% | |
| Public Storage | 2.89% | |
| Vivmark Residential | 2.69% | |
| Realty Income Corp | 2.65% | |
| Goodman Group | 2.44% | |
| Ventas Inc | 2.39% | |
| Iron Mountain Inc | 1.85% | |
| Crown Castle Inc | 1.61% | |
| Extra Space Storage Inc | 1.52% | |
| VICI Properties Inc | 1.35% |
By country
United States 72.27%Australia 6.14%Japan 4.86%United Kingdom 3.79%Singapore 2.99%By asset type
Stocks 99.61%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $51.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.55%, +2.82%, -2.81%.
How it works
Avantis Real Estate ETF, from American Century Investments, is actively managed rather than tied to an index. Its benchmark is the S&P Global REIT Index, and it generally buys companies from that index's countries. Normally at least 80% of assets go into real estate securities: mainly REITs (real estate investment trusts, which own or lend on income-producing property and pay out most of their earnings) and companies with at least half their revenue or assets tied to real estate.
The managers favor stocks they expect to offer higher returns or better risk characteristics. Because REITs pay out most earnings, many borrow heavily, so the fund may skip or underweight those with high debt, especially when borrowing gets costlier. Managers also weigh profitability, past relative performance, size, liquidity, and tax, governance and cost factors. There is no index to rebalance against. Buy and sell decisions come from continual data review, with trading costs and taxes weighed first.
As of August 31, 2026, the fund had 321 holdings, and the top ten made up about 42%, led by Welltower (7.6%), Prologis (6.6%) and Equinix (5.6%). About 72% was in US companies, and the fund held no derivatives. It may lend securities and may issue and redeem shares for cash rather than by swapping stocks, which can make it less tax-efficient than some ETFs.
What it really costs
- AVRE charges 0.17% a year, versus an average of 0.16% for the similar funds below (6th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $17 in the first year and $218 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AVRE | $17 | $55 | $96 | $218 |
In a retirement portfolio
It adds global property exposure that has moved only partly with the broad stock market, but it is a single-sector fund, so it works as a complement to a core holding rather than a replacement for one.
AVRE launched in September 2021, so it has been through only one major downturn and has no record from 2008 or 2020. In the 2022 bear market it fell 31% and did not get back to its earlier level until February 17, 2026. Its worst calendar year was 2022, with a loss of 24.42%. Its deepest drop was 32.5%, from December 31, 2021 to October 25, 2023, and it took until April 17, 2026 to recover. Anyone who had to sell shares during that stretch would have been selling at a loss for years.
Its yield over the trailing 12 months was 3.03% as of October 27, 2026, paid quarterly. Under the SEC's standard example, $10,000 invested would cost $17 in fees in the first year and $218 over 10 years. Past results don't predict future returns. A plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting global property exposure: about 72% was in US companies as of August 31, 2026, with Australia, Japan and the UK next.
- Income-focused investors, including retirees, who accept stock-like swings in exchange for a 3.03% trailing yield, paid quarterly, as of October 27, 2026.
- Investors who want an active approach that may underweight heavily indebted REITs, at a 0.17% annual expense ratio, near the 0.16% peer average.
Look elsewhere if
- Cost-focused investors: iShares Global REIT ETF (REET) charges 0.14%, and the US-only Schwab US REIT ETF (SCHH) charges 0.07%, versus 0.17% here.
- Investors who need steady values: the fund fell 31% in the 2022 bear market and took about 40 months to recover.
- Investors wanting a long, leading record: launched September 2021, its 12.6% three-year annualized return ranked 9th of 9 peers through October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| AVRE this fund | — | 0.17% | $861.1M | +3.5% | +12.6% |
| DFGR Dimensional Global Real Estate ETF | 89% | 0.22% | $3.86B | +3.7% | +13.2% |
| REET iShares Global REIT ETF | 85% | 0.14% | $5.13B | +4.1% | +13.5% |
| SCHH Schwab US REIT ETF | 71% | 0.07% | $11.20B | +7.1% | +14.1% |
| DFAR Dimensional US Real Estate ETF | 70% | 0.19% | $1.78B | +7.6% | +14.0% |
| FREL Fidelity MSCI Real Estate Index ETF | 70% | 0.084% | $1.49B | +3.2% | +13.3% |
| VNQ Vanguard Real Estate ETF | 69% | 0.13% | $73.11B | +9.6% | +13.8% |
| USRT iShares Core U.S. REIT ETF | 65% | 0.08% | $4.66B | +8.5% | +15.9% |
Questions investors ask
Is AVRE an index fund?
No. AVRE is an actively managed ETF from American Century Investments, sold under the Avantis name. It uses the S&P Global REIT Index as a benchmark but does not try to copy it. Its managers may hold less of heavily indebted REITs and also weigh profitability and company size. In 2024, the fund returned 0.47% while the index returned 2.77%. Since its 2021 launch through December 31, 2024, the fund averaged -2.27% a year, compared with -1.46% for the index.
Does AVRE pay monthly dividends?
No. AVRE pays distributions quarterly. Over the 12 months to October 27, 2026, it paid $1.38 per share, a trailing yield of 3.03%. The income comes mostly from REITs, which must pass most of their earnings to shareholders. REIT payouts can change with rents, occupancy and borrowing costs, so the fund's distributions can rise or fall from one quarter to the next.
What's the difference between AVRE and REET?
Both hold global REITs, and about 85% of their holdings overlap. iShares Global REIT ETF (REET) charges 0.14% a year, compared with 0.17% for AVRE. REET is also much larger, with about $5.1 billion in net assets as of July 31, 2026, compared with about $861 million for AVRE as of August 31, 2026. As of October 27, 2026, REET's 1-year return was 4.1% and AVRE's was 3.5%. Over three years, REET returned 13.5% a year and AVRE 12.6%.
What are AVRE's top holdings?
As of August 31, 2026, AVRE's largest holdings were Welltower (7.6%), Prologis (6.6%), Equinix (5.6%), American Tower (4.1%) and Digital Realty Trust (3.5%). These cover senior housing, warehouses, data centers and cell towers. The 10 largest positions made up 41.5% of the fund's 321 stocks. Australia's Goodman Group, at 2.4%, was the largest non-US holding.
How much did AVRE lose in 2022?
AVRE lost 24.42% in calendar year 2022, according to its prospectus, which makes 2022 its worst year so far. Rising interest rates hit real estate stocks hard. During the bear market from January 3 to October 12, 2022, the fund fell 31%. It did not return to its early-2022 level until February 17, 2026. Its deepest drop overall was 32.5%, ending October 25, 2023.