VEA vs AVDE: Which One Offers Better International Exposure?

International is definitely one of the areas where you could see some value add from active. Like Mike was saying, this is not super concentrated. So, you're still getting about 3,000 holdings in both of these ETFs. They're both very, very broad.

You have a value tilt. You get a little bit size tilt, like Mike mentioned, in the Avantis one. Your top weights and country weights are going to be about the same. It's Japan, the UK, and Canada. The only difference is you're getting Korea in the Vanguard fund. You're not getting that in Avantis. It might not matter that much. It's only a 3% weight, but just something to keep in mind about country definitions.

You do get a little bit of differences in some of the sector bets because of the tilts. You tend to end up being more overweight banks with Avantis and Pharma, which that stuff has actually worked out well right now. So, you do have a little bit of a factor bias, a little bit of a sector bias, but overall, it seems like for that little tracking error gap that Mike had mentioned, they're getting a lot of juice out of that.

I like that, and I think it's an area that I like active management. So again, very close, both very well-run. You're getting a lot of the similar country exposures, but I think I'm going to give the edge here to the Avantis product.