AVUV vs ZPRV: returns, risk and drawdowns compared
Avantis U.S. Small Cap Value ETF against SPDR MSCI USA Small Cap Value Weighted UCITS ETF, over the same 7 years (October 2019 to October 2026) with dividends reinvested.
Data updated October 2026
From October 2019 to October 2026, AVUV returned 14.8% a year and ZPRV 13.6% a year on average, so AVUV came out ahead by 1.2% a year. AVUV was the more volatile of the two (25.4% against 22.7% a year), and the deepest falls from a month-end high were 42.4% for AVUV and 37.2% for ZPRV.
The correlation of monthly returns was 0.93: they moved almost in lockstep. Over 50 rolling 3-year periods, AVUV did better in 74% and ZPRV in 26%.
AVUV trades in USD and ZPRV in EUR: each return is in its own currency, so part of the gap reflects the move of the euro against the dollar.
Side by side
| AVUV | ZPRV | |
|---|---|---|
| Annual return (CAGR) | +14.8% | +13.6% |
| Total return | +166% | +147% |
| Annual volatility | 25.4% | 22.7% |
| Maximum drawdown (month-end) | −42.4% | −37.2% |
| Worst month | −28.9% | −26.1% |
| Best month | +20.5% | +19.6% |
| Positive months | 60% | 61% |
| Best year | 2021: +42.2% | 2021: +48.2% |
| Worst year | 2022: −4.9% | 2022: −5.4% |
| 1-year return | +24.5% | +27.5% |
| 5 years, a year | +10.5% | +10.6% |
| 10 years, a year | — | +11.4% |
| Trading currency | USD | EUR |
First nine rows: the same 85 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: AVUV vs ZPRV
Returns by calendar year
| Year | AVUV | ZPRV |
|---|---|---|
| 2025 | +7.4% | +3.0% |
| 2024 | +9.3% | +14.1% |
| 2023 | +22.8% | +19.1% |
| 2022 | −4.9% | −5.4% |
| 2021 | +42.2% | +48.2% |
| 2020 | +6.4% | −1.8% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, AVUV or ZPRV?
From October 2019 to October 2026, AVUV returned +14.8% a year and ZPRV +13.6% a year, with dividends reinvested, each in its own trading currency (USD and EUR). Over rolling 3-year periods AVUV did better in 74% of cases. Past returns do not predict future returns.
Which is riskier, AVUV or ZPRV?
Over the same months annual volatility was 25.4% for AVUV and 22.7% for ZPRV; the deepest fall from a month-end high was 42.4% and 37.2%, and the worst single month −28.9% and −26.1%.
How correlated are AVUV and ZPRV?
The correlation of their monthly returns was 0.93: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.