Avantis International Small Cap Equity ETF (AVDS)

The Avantis International Small Cap Equity ETF is an actively managed fund from Avantis Investors, the systematic investing arm of American Century Investments. It invests in small-capitalization companies in developed markets outside the United States.

Avantis uses a research-driven, rules-based process grounded in academic findings on expected returns. Within the small-cap universe, the fund broadly diversifies across countries and sectors while tilting toward companies that trade at lower valuations and display higher profitability relative to their peers.

Unlike traditional index funds, the portfolio is managed continuously rather than reconstituted on a fixed schedule, which the manager uses to adjust holdings as prices and company fundamentals change while seeking to keep trading costs low.