[Updated] Avantis Emerging Market ETF Starts Trading on Xetra
Avantis ETFs Launched on xetra and London Stock Exchange
Two ETFs highly anticipated by some of our readers – the Avantis Global Equity UCITS ETF, and the Avantis Global Small-Cap Value UCITS ETF started trading on Xetra as of 1st of October, and on LSE on December 4th.
The third ETF – Avantis Emerging Markets Equity UCITS ETF started trading on Xetra on the 12th of December.
⚠️ Note: This page will be continually updated as more details emerge.
KEY TAKEAWAYS
- Active ETFs with Value & Profitability Screens – The ETFs will mimic the US funds’ strategies and will have two main factor screens – Value and Profitability. Investment and Momentum factors also play a role in security selection.
- Listed on Xetra & LSE – Two ETFs were listed on Xetra on the 1st of October, and on LSE on December 4th. The Emerging Markets ETF was listed on Xetra on December 12th. We expect London listing to follow.
- Competitive Pricing and Accumulating Share Classes – The funds are priced in line with the competition, or slightly above for the Small-Cap Value ETF. However, this can be justified given Avantis’ track record and expertise. The ETFs are domiciled in Ireland, which is tax-advantaged for most European Investors.
- Available In EUR, USD and GBP – EUR is the settlement currency on Xetra. Both ETFs except the EM are also available in GBP and USD on LSE. EM should follow.
- A Promising Seed Funding Backing & AUM Growth – Avantis Reached a $50 Billion AUM milestone in July – less than five years since launching its first funds. In Europe, the asset manager secured c. $250M in seed funding for the Global Equity ETF, and $11M for the Global Small-Cap Value ETF and above $20M for the Emerging Market ETF. As of December 12th, the SCV ETF has reached $67M in AUM, up $25M since December 3rd.
Here is the full analysis
Latest updateS
17/02/2025: Read our full review of Avantis Global Small Cap Value UCITS ETF – Available now!
12/12/2024: Emerging Market ETF starts trading on Xetra. It’s ticker is AVEM and benchmark MSCI Emerging Markets IMI Index.
04/12/2024: ETFs listed on LSE start trading.
03/12/2024: Emerging Market ETF Expected To Launch: According to Bloomberg, the EM ETF will be listed on Xetra on the 12th of December. The TER is expected to be 0.35%.
03/12/2024: Listed on LSE in GBP and USD: Both ETFs are scheduled to be listed on LSE on December 4th. Investors will be able to trade the ETFs in USD or GBP.
29/11/2024: Flows into Small Cap Value Accelerate: Avantis Global Small Cap Value UCITS ETF has reached $40M in AUM since launch. Avantis Global Equity UCITS ETF is now over $260M.
11/10/2024:
- Availability Varies by Broker: Different brokers offer varying levels of access to Avantis UCITS funds depending on the country. Some brokers are more accommodating, while others have different interpretation of EU restrictions due to KIIDs not yet available in local languages that prevent offering these funds, leading to discrepancies in access depending on where the investor is based.
- Popular Brokers May Have Local Restrictions: Restriction may vary by client (e.g. DEGIRO for Dutch clients as no local KID is yet available).
7/10/2024: Availability for English and German Speaking Countries: KIIDs are now available in English and German. Provided this is your main language, brokers can provide access as long as they add it to their available funds.
01/10/2024: Availability on Interactive Brokers: The ETFs can now be bought through some brokers. Consider requesting it through your broker if not available. Since these are niche products it may be currently under their radar.
Test Trade as of 01/10/2024
Key Characteristics
Competitive Pricing and Accumulating Share classes
Small-Cap Value ETF priced at 0.39%
Based on available information, the following three ETFs are being launched:
- Avantis Global Equity UCITS ETF (Tickers EUR: AVWC, GBP: AVCG, USD: AVGC) – The fund is available in an accumulating share class and priced at 0.22% (in line with e.g. Vanguard FTSE-All World UCITS ETF).
- Avantis Global Small-Cap Value UCITS ETF (Tickers EUR: AVWS, GBP: AVSG, USD: AVGS) – The fund is available in an accumulating share class and priced at 0.39% (slightly above SPDR’s Small-Cap Value UCITS ETFs with 0.3% TER), but may be justified based on the expertise of the asset manager – and possibly higher factor loadings. Read our full review of Avantis Global Small Cap Value UCITS ETF – Available now!
- Avantis Emerging Markets Equity UCITS ETF (Ticker EUR: AVEM) – Launched on Xetra on the 12th of December with a TER or 0.35%.
Key ETF Information
| ETF | Share Class | OCF | Tickers | Domicile |
|---|---|---|---|---|
| Avantis Global Equity UCITS ETF | Accumulating | 0.22% | €: AVWC, £: AVCG, $: AVGC | Ireland |
| Avantis Global Small Cap Value UCITS ETF | Accumulating | 0.39% | €: AVWS, £: AVSG, $: AVGS | Ireland |
| Avantis Emerging Markets Equity UCITS ETF | Accumulating | 0.35% | €: AVEM | Ireland |
A Promising seed funding
$11M for small-cap value eTF and c. $250 for global Equity ETF
The three ETFs are launched by the group’s quantitative investment unit, headed up by the firm’s CIO Eduardo Repetto. In the U.S., Avantis launched in 2019, but despite being a relatively new player, it has already reached a remarkable milestone—$50 billion AUM in just under five years. This rapid growth reflects strong investor confidence in Avantis’ approach, which focuses on factor-based strategies.
This success has helped its seed funding in Europe:
- Avantis Global Equity UCITS ETF – has secured c. $250M in seed funding. The fund performance will be benchmarked against the MSCI World IMI Index. There is no sustainability angle to this ETF (SFDR Article 6). The ETF is not currency hedged. Based on the current AUM and number of available shares the initial offer price is around $20 (in the funds’ base currency).
- Avantis Global Small-Cap Value UCITS ETF – has secured over $11M in seed funding. The performance will be benchmarked against the MSCI World Small-Cap Value Index. There is no sustainability angle to this ETF (SFDR Article 6). The ETF is not currency hedged. Based on the current AUM and number of available shares the initial offer price is around $20 (in the funds’ base currency). Read our full review of Avantis Global Small Cap Value UCITS ETF – Available now!
- Avantis Emerging Markets Equity UCITS ETF – Has secured $20M in seed funding. It is benchmarked against MSCI Emerging Markets IMI Index. Its largest concentrations are Taiwan Semiconductors (8.5%), and Tencent (5.5%). It also has a FTSE INDIA UCITS ETF exposure. We expect these to be more granular as the fund grows.
Additional Information
| ETF | Benchmark | CCY Hedging | Initial Price* | Sustanability | Seed Funding |
|---|---|---|---|---|---|
| Avantis Global Equity UCITS ETF | MSCI World IMI Index | Unhedged | $20 | No Sustainability (Article 6) | $248,403,791 |
| Avantis Global Small Cap Value UCITS ETF | MSCI World Small Cap Value Index | Unhedged | $20 | No Sustainability (Article 6) | $11,422,164 |
| Avantis Emerging Markets Equity UCITS ETF | MSCI Emerging Markets IMI Index | Unhedged | $20 | No Sustainability (Article 6) | $21,707,220 |
Strategies to mimic US ETFs
With Global exposure replicating market allocations
Based on publicly available information provided by Avantis, the two global ETFs are likely to be structured to closely reflect market allocation seen globally, with an estimated 65-70% allocation to the US market and the remainder spread across other developed markets.
Additional Identifiers
| ETF | Non-UCITS Equivalent | ISIN | Bloomberg | Sedol |
|---|---|---|---|---|
| Avantis Global Equity UCITS ETF | AVUS + AVDE | IE000RJECXS5 | AVWC GY | BR3Y7K6 |
| Avantis Global Small Cap Value UCITS ETF | AVUV + AVDV | IE0003R87OG3 | AVWS GY | BR3Y7D9 |
| Avantis Emerging Markets Equity UCITS ETF | AVEM | IE000K975W13 | AVEM GY | BR3Y7G2 |
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