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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison

Avantis Emerging Markets Equity UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE000K975W13Ticker: AVEMIssuer: AvantisClass: Class-I Shares
Issuer-declared data
Declared index
MSCI Emerging Markets IMI Index
TER
0.35%
Transaction costs
0.04% (issuer estimate, from the KID)
Management
Active management
Replication
Physical
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
261.4 mln EUR
NAV
32.26 USD (1 September 2026)
Domicile
Ireland
Inception date
9 December 2024
Data as declared by Avantis in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Avantis Emerging Markets Equity UCITS ETF is an actively managed ETF: it does not track an index — the declared index (MSCI Emerging Markets IMI Index) is a comparison yardstick only. The declared annual cost (TER) is 0.35%, plus 0.04% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 261 million euro, was launched on 9 December 2024 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

Investment objective The investment objective of Avantis Emerging Markets Equity UCITS ETF (the "Fund") is to seek longterm capital appreciation through investment in an actively managed portfolio of equity and equity-related securities issued by large, mid and small capitalisation companies related to emerging market countries. Investment policies The Fund will seek to achieve its investment objective by investing at least 80% of its Net Asset Value in a portfolio of equities and equity related securities in emerging markets countries, China H-shares, P-chips and red-chips, common shares, convertible stock, preferred shares, rights issues, equity warrants which will not embed derivatives and stock options of issuers in emerging market countries. The Fund may invest up to 10% of its NAV in Eligible Collective Investment Schemes. In exceptional market or economic conditions, the Fund may temporarily invest up to 100% of its NAV in cash, cash equivalents, and ancillary liquid assets. These assets can include deposits, Investment Grade short term debt securities, variable rate notes, money market instruments, and convertible bonds issued by sovereign, governmental, supranational, and corporate entities listed on any Regulated Market. Convertible bonds, arising from corporate actions, will be divested as soon as practicable to maximize returns to Shareholders. The Fund will not invest in contingent convertible bonds. Benchmark The Fund is an actively managed exchange traded fund (ETF). The Fund does not seek to replicate the performance of a specified index but does reference the MSCI Emerging Markets IMI Index (USD) (the "Benchmark") for comparative purposes only. Further information on the Benchmark can be found at www.msci.com.

Keep reading the KID section ▾

Redemption and DealingThe shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference.

Your shares will be denominated in USD, the Fund's base currency. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange(s) on which the shares are traded. Please refer to the Fund's Prospectus for more information.

Distribution PolicyYour shares do not pay income, but instead the Fund reinvests such income to grow your capital. Launch date The Fund and the Share class were launched on 09/ 12/2024. Fund Currency Reference currency of the Fund is USD. Conversion of shares Shareholders will be able to apply to exchange all or part of their holding of shares of any class in any sub-fund for shares in another class. For more detailed explanation, please refer to the Prospectus. Asset Segregation American Century ICAV is an umbrella Fund with one or more sub-funds. Each sub-fund may be further divided into shares of different classes to accommodate different subscription and/or redemption charges and/or minimum investment initial subscription amounts and/or dividend and/or charges and/or fee arrangements and/or denomination currencies and/or currency hedging strategies. A separate pool of assets will not be maintained for each class. Details of the sub-funds and their classes will be specified in the relevant Supplement to the Prospectus available at https://www.avantisinvestors.com.

Intended retail investorThis product is intended for investors who plan to stay invested for at least 5 years and are prepared to take on a medium level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Term The Fund is open-ended and has no maturity date. Subject to the liquidation, dissolution and termination rights of the board of the ICAV as set forth in the ICAV prospectus, the Fund cannot be automatically terminated. The PRIIP manufacturer, Waystone Management Company (IE) Limited, is not entitled to terminate the product unilaterally. Practical information Depositary The Fund's assets are held with its depositary, State Street Custodial Services (Ireland) Limited. Further information Further information about American Century ICAV, copies of its prospectus, annual and half-yearly reports may be obtained free of charge in English at the offices of the Management Company at any time during normal business hours.

From the KID’s “Objectives” section · 15 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.35%: above the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Dec 2024 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+61.6%
Annualised
+31.6%
Volatility (ann.)
17.7%
Max drawdown
-12.93%
-12%+8%+29%+49%+70%Dec 2024May 2025Oct 2025Apr 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+62%Dec 2024Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%20252026−12.93% · 08 Apr 2025
Max drawdown
-12.93%
peak → trough
Trough
08 Apr 2025
from the 19 Mar 2025 peak
Recovery time
34 days
recovery only: trough to break-even
Underwater
54 days
decline + recovery: peak to break-even · → recovered on 12 May 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Mar 202508 Apr 2025-12.93%12 May 202554
26 Feb 202631 Mar 2026-12.72%04 May 202667
22 Jun 202629 Jul 2026-12.69%ongoing78
09 Dec 202413 Jan 2025-7.13%12 Feb 202565
02 Jun 202608 Jun 2026-6.44%18 Jun 202616

Calendar-year returns

2024
-4.0%
2025
35.8%
2026
24.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20268.35.6-12.213.08.8-1.2-5.15.21.924.0
20251.61.21.51.15.96.41.61.95.63.2-1.32.535.8
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Avantis. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Risk indicators· EUR

Last yearFull history
Volatility (ann.)17.27%16.23%
Max drawdown-12.11%-16.42%
Sharpe1.661.25
Sortino2.371.74
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
2,924
Top-10 weight
24.9%

Top 10 holdings

TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.0 · 2330
5.27%
SAMSUNG ELECTR GDR REG S GDR · SMSN
5.24%
SK HYNIX INC COMMON STOCK KRW5000.0 · A000660
4.99%
TAIWAN SEMICONDUCTOR SP ADR ADR · TSM
3.86%
TENCENT HOLDINGS LTD COMMON STOCK HKD.00002 · 700
1.70%
CHINA CONSTRUCTION BANK H COMMON STOCK CNY1.0 · 939
0.95%
MEDIATEK INC COMMON STOCK TWD10.0 · 2454
0.77%
HON HAI PRECISION INDUSTRY COMMON STOCK TWD10.0 · 2317
0.73%
ALIBABA GROUP HOLDING SP ADR ADR USD.000025 · BABA
0.71%
KB FINANCIAL GROUP INC ADR ADR · KB
0.71%

Sectors

Information Technology
34.0%
Financials
22.0%
Industrials
9.0%
Consumer Discretionary
9.0%
Materials
6.0%
Communication Services
6.0%
Energy
4.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 4%BruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChina: 20%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndia: 13%IrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 19%KosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 2%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 1%Puerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi Arabia: 3%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailand: 1%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 26%United Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 3%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Taiwan26%
China20%
South Korea19%
India13%
Brazil4%
Saudi Arabia3%
South Africa3%
Download the full portfolio — Excel, 2,924 rows
Full portfolio declared by Avantis, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfAVEM12 Dec 2024
Börse FrankfurtAVEM12 Dec 2024
Börse HamburgAVEM24 Mar 2025
Börse HannoverAVEM18 Mar 2025
Börse München / gettexAVEM7 Jan 2025
Börse StuttgartAVEM27 Mar 2025
Tradegate ExchangeAVEM18 Dec 2024
Xetra (Deutsche Börse)AVEM12 Dec 2024
+ 7 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Avantis Emerging Markets Equity UCITS ETF track?
The issuer Avantis declares the benchmark: MSCI Emerging Markets IMI Index.
How much does AVEM cost?
The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.04%.
What is the fund size of AVEM?
The fund size declared by Avantis is about 261 million euro.
When was AVEM launched?
The fund was launched on 9 December 2024: it has 1 year of history.
Is AVEM actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (MSCI Emerging Markets IMI Index) is a yardstick for comparison, not an index being tracked. Exposure is obtained through physical replication (issuer wording: “Active — Physical”).
Does AVEM pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does AVEM trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (AVEM), Börse Frankfurt (AVEM), Börse Hamburg (AVEM), Börse Hannover (AVEM), Börse München / gettex (AVEM), Börse Stuttgart (AVEM).
What was AVEM's worst fall?
Over the available history (since 2024), the maximum drawdown was -12.93%, reached in April 2025. Past performance is not indicative of future results.
How many securities does AVEM hold?
The declared portfolio holds 2,924 securities; the top 10 positions weigh 24.9%.
Transparency note
The data in this sheet is declared by Avantis in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.