AVSE limits its investable universe of stocks in emerging markets by initially screening out those that do not meet multiple ESG metrics. Portfolio managers utilize third party ESG data and scoring systems combined with a proprietary screening model to exclude stocks from investment consideration. The companies remaining are evaluated based on fundamental criteria, selecting stocks perceived to have higher profitability or lower valuations. As a result, the portfolio tends to overweight small-cap growth stocks. Holdings may include securities denominated in foreign currencies. Eligibility for inclusion is determined at the time of purchase. Should the ESG assessment of a portfolio holding change, the fund managers are not obligated to sell the security. The fund performance relies on efficient portfolio management and trading process to reduce unnecessary risks and transaction costs. The fund is able to engage in securities lending.

Taiwan Semiconductor Manufacturing Company Limited

Alibaba Group Holding Limited

ICICI Bank Limited

NetEase, Inc.

Yum China Holdings, Inc.

PDD Holdings Inc.

KB Financial Group Inc.

ASE Technology Holding Co., Ltd.

Shinhan Financial Group Co., Ltd.

Gold Fields Limited

Technology

Financial Services

Consumer Cyclical

Cash & Others

Industrials

Communication Services

Healthcare

Basic Materials

Consumer Defensive

Real Estate

Avantis Responsible Emerging Markets Equity ETF

AVSE Holdings & Sector Breakdown

AVSE Holdings & Sector Breakdown