What this ETF is trying to do

The Avantis All International Markets Equity ETF (AVNM) is designed to provide exposure to equity markets outside of the United States. Instead of holding individual company stocks, this ETF holds other ETFs. Its Top Holdings include various Avantis funds focusing on international large-cap, small-cap, and emerging markets.

What the numbers show

As of October 5, 2026, the share price is $83.67. To understand how the fund has performed, we look at two different types of returns: price return (the change in share price) and total return (which includes the share price change plus distributions).

• Year-to-Date (YTD): The price return is 13.81%, while the total return is 15.65%.

• One Year: The price return is 17.25%, and the total return is 20.82%.

• Three Year: The price return is 71.31%, and the total return is 88.84%.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($71.36), the price-only growth would have resulted in a value of approximately $11,725.

Income and distribution explanation

This ETF pays out cash to investors, known as distributions. It usually pays these quarterly. The distribution yield is 2.80%.

It is important for beginners to know that a high distribution yield alone can be misleading. While distributions provide cash income, they do not guarantee that the original money you invested (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the underlying value of a fund's assets drops significantly over time, often causing the share price to fall even if the fund pays high distributions.

For AVNM, the erosion-risk score is 100, and the erosion label states "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• Strong Growth: The fund has shown significant price and total returns over the last three years.

• Diversification: It provides a broad mix of international and emerging market equities.

• Stability: No price erosion has been detected based on the supplied risk scores.

Cons

• Market Risk: Because it invests in international equities, it is subject to the risks of global stock markets.

• Moderate Yield: The distribution yield is relatively low compared to funds specifically designed for high income.

Beginner takeaway

AVNM is an international equity fund that has seen strong growth in both share price and total return over the last few years. It provides a way to invest in non-U.S. markets while paying a modest quarterly distribution.