AVDV
Avantis® International Small Cap Value ETF
Mentions (24Hr)
0.00% Today
Reddit Posts
Trying to tilt for value/small cap, am I doing it right?
Would AVLV theoretically be any more profitable than a passively managed fund like VOO?
I have a mental issue when benchmarking my portfolio - looking for advice.
Feedback for shifting an IRA with slight SCV tilt to a full-on 5 factor portfolio.
Playing around with a possible portfolio of ETFs.. tel me what you think and why and possible suggestions.. I’m wanting something we diversified and to be able to set it up on auto invest. I think these are ETFs so I believe that leaves me with M1 or E*Trade..
Ratemyportoflio : 45% VTI 40% VXUS 5% AVUV 5% AVDV 5% AVDS.
Finally settled on an investment plan, wanted to see if it sounds good or not
What is the correct calculation of P/E or P/B for this ETF?
Advice on my Roth IRA portfolio?
What stocks or funds can I add to optimize and strengthen my portfolio?
How to create a VT like portfolio using ETFs like NTSX, NTSI, AVUV, and AVDV?
Does anyone just own SCV, REITs, etc. outright instead of as part of an official "tilt"?
Mentions
I hold VOO 50%, VXUS 20%, AVDV 20%, and FLKR 10%. This diversification has been a great balancer, especially against AI disruption....That said, even Asian equities have been impacted by current events in the Middle East.... AVDV hasn't been impacted nearly as much.
Fair enough, or go with my portfolio of SPTM+VXUS (+AVUV+AVDV) 😁
I bought some VDE before the invasion and it’s doing fairly well. I sold some SMH right before the dip. I may get more now that it’s down. In the long run, I think energy and tech is a good play. I also have a large amount on Google, Walmart, Costco, AVUV and AVDV. I’m holding S&P 500 and QQQM longe term and contributing to those consistantly
I would encourage you to mess around on sites like etf.com, etfdb.com, and the overlap tool from etfrc.com to get more familiar with the holdings of different ETFs like these and what their competitors/sibling ETFs are. r/ETF and this subreddit are my favorite market-related ones. AVLC is pretty similar to VOO (76% overlap) but has more holdings, so it is a bit less concentrated. AVUV is a great ETF specifically because it leaves out crappy small cap companies, of which there are a lot. Combining AVLC and AVUV does not result in holding the entire US market, but I’d argue it gives you most of what’s worth holding. VTI and its competitors are the “entire US market” ETFs. Similarly, AVDE plus AVDV would give you the biggest companies and best value small caps in developed markets. AVDE is the only international ETF I own because I don’t trust emerging markets and it has relatively less of the Shells and Nestles than similar ETFs. I’m not personally a fan of AVDV because its recent run has been largely led by mining companies.
Just added 4% more shares to AVDV and 18% more to VEEV.
AVUV/AVDV is expensive compared to the passive small cap funds. IJR for US small cap has an expense ratio of only 0.06% vs 0.25% and SCHC for international is only 0.08% vs 0.36%. You're also pretty correlated, might want to, definitely don't need to, add an uncorrelated asset like a corporate bond ETF or REIT. Other than that you're pretty safe.
I was holding stocks but found it to be stressful with the AI disruption and it's impact on tech, especially. Most institutional investors and a god part of retail investors starting going for generic US holdings or international. That's why I maintain a core position of VTI and do a 50/50 with international. VTI 50% , VXUS 15%, AVDV 15%, FLKR 10%, SOXQ 10%... Run that in your simulator.
Stocks are volatile. Better to find EFTs. VTI for core position and shine international, like AVDV and FLKR. In 2025, the Franklin FTSE South Korea ETF (NYSEARCA:FLKR) delivered a robust performance with an annual return of approximately 75.00%. As of March 2, 2026, the fund's year-to-date (YTD) performance remains strong, gaining 47.02% since the start of the year. Wish I'd found this sooner.
It's all about dry powder right now. This administration is getting desperate and every move they make tends to move the needle to the extreme. They know they've lost the midterms... what can they do to prevent that? Their Hail Mary will be something extreme... like instituting the insurrection act and invoking absolute martial law. How would the economy and markets react to a constitutional crisis? It likely won't be business as usual. Now is the time to hedge and position yourself defensively. My core is 40/60 US/Intl... VTI and VXUS, AVDV, FLKR. I make swing trades to benefit from the volatility. The rotation from tech to everything else has created a great environment for this.
I try to keep VT to at least a minimum of 50% and invest in AVDV and AVXC. AVXC has returned 18.15% this year while AVDV has returned 17.15% this year. I would say VT, AVDV and AVXC would produce solid risk adjusted returns.
I’m invested in AVDV (international small cap value) right now. International and small cap value are on a tear right now. I don’t do individual stocks but if I did I might buy Take Two Interactive. Video game stocks took a dump when Project Genie was announced because investors think an AI walking sim can replace video games, which is an idiotic take. Take Two publishes GTA so when GTA 6 comes out probably this year my best guess is that the stock will go up.
Yeah, it was the AVDV > AVUV that I was referring to
Yeah that was my point. While AVDV is doing best (it is both small cap value and international), AVUV and VXUS are both doing great as well.
Yep. Small caps are doing great. My international is doing great. S&P is flat. YTD, AVDV > AVUV = VXUS > VOO
Considering selling my SNOW position and putting the funds in AVDV, AVUV, QQQ, and VOO. Data warehousing is commoditized and competition from Databricks and the big 3 (Microsoft, Amazon, Google) and others will only increase. Will Cortex AI win out? Will Snowflake become the App Store for data as they are intending?
Nice! I am due to add to AVUV too. I also want to allocate some money to AVDV but not able to get over the mental barrier of that run up last year.
I opened a position in UBER and added to AVDV, AVUV, QQQ, and VOO.
A month ago I switched to FTIHX (Fidelity total international) in my 401k and AVDV (Avantis international small cap value) in my Roth IRA. So far they've both performed really well for me.
Boring winners: SOXX, VTI, VXUS, AVDV
Eh, yeah idk about weighting based on "freedom" lol. I havn't seen any empirical evidence backing that strategy. Maybe it exists though. Are there any research papers? The expense ratio is a little high for me as well. AVDV is already the highest fee fund I own at .36. But .5 is too expensive for me. Performance since inception between a 5 year old fund and a 1 year old fund is irrelevant.
I chose FRDM over AVEM for the exclusion of china tbh. Also AVDV is up so much because gold is up so much, a majority of that fund is mining companies
That seems good. I think momentum and anti-vol/anti-beta tilts are worthwhile. I feel uncomfortable recommending stuff because my own factor holdings have not done well, but I'll list them if you're interested: VFMF, MTUM, IMTM, FNDF, MFEM, BTAL, CAPE. That last was an ETN and then switched management and became an ETF. It did fairly well before but its record since then has been poor. FNDF is probably pretty similar to AVDE. I think AVDV covers an exposure that's hard to find, and 36bps isn't too expensive for that. Maybe I should buy some myself. I've heard that value and small size factors don't do well on their own since their "discovery" but they still generate a premium when combined.
I invest in AVDV and the performance has been good. It also provides a hedge when tech takes a dive. Some of the top holdings are in gold and gold mining. I invest roughly 21% into it. I wouldnt say its necessarily chasing returns but it provides more diversification to my core holding, VT.
Nothing wrong with Avantis as a whole. AVDV is one hell of a performer, and AVUV is the perfect companion to VOO with no overlap.
Avantis funds can be a rational portfolio choice, but yes you're seeing posts about AVDV because it went up 50% last yearm
You’re seeing more people talking about it because SCV (especially international SCV like AVDV) has had a really good start to the year while the S&P 500 has mostly been flat. It’s a lot more interesting now than last year when AVUV “only” went up 8%. People have been tilting for a long time, just not talking about it as much. There’s a lot of debate on whether the SCV premium exists, the info for either side is out there.
I think lots of people do but those people are unlikely to be here to talk about it. Those people often don't want to touch this stuff daily. I'm not set and forget. I like to play and understand. That said, my portfolio managed until just last year and I've taken 6 months to understand how to re-allocate my portfolio. I've escaped my undesirable positions (bad stocks) and concentrated into etfs, though I do like some tilt which is why I have Micron and AVDV or XEG. And it's not desirable to fully unload some of these stock winners, so I just trim and add to the ETFs. My only regrets are the options plays, but I'm far outperforming whatever chill
VXUS, VWO AVDV, DFIV is what I hold. AVDV is up 45% or something crazy in the last year.
AVNV, AVDV, AVES, stuff liek that
Thank you. I agree. I've decided to go with AVDV to add a little more international and small to my overall portfolio. I've been researching a lot since yesterday and the concesus with SCV is that it is a LONG play. I'm okay with that since I plan to hold it for 25+ years. The one thing that has shaken me resolve a bit is that some believe it's possible that the time frame to see that premium could be so long I never get to benefit. I'm still going to go with AVDV but I'm rethinking my allocation. VOO(65)+VXUS(25)+AVUV(5)+AVDV(5) - By keeping all small cap at 10% it won't draw down my portfolio during those long periods of underperformance. That can make it easier to stay the course when it's REALLY down. Of course, I won't benefit as much either. VOO(60)+VXUS(20)+AVUV(10)+AVDV(10) - Having small cap at 20% between the two would allow much better benefits when it eventually outperforms in 20 years. But the down times will be a drag and a test of resolve. Granted, with both of these my VOO+VXUS will keep the entire portfolio afloat. So things should be fine either way. I'm confident I can stay the course as I'll just set up automatic investments and leave it alone. But it's easy to say that until it actually happens haha
I have VT, AVDV, and also SOXX. AVDV has gained 14.57% this year so yes, the performance speaks for itself and is a great compliment to VT.
I dont agree with adding bonds to VT lol Maybe gold mining. I think SOXX or SOXQ and AVDV compliment VT well.
I have VT as a core which has gained 3.74% this year, I also have 25% in SOXX which has gained 17.77% this year and have 21% in AVDV which has gained 14.57% this year
I might get downvoted for saying this but here is how I would split it up. CGDV - 67% AVDV - 22% AVDE - 11% ~62- 67% US, 33-38% International
VT is a good fund. VT and AVDV is a good combination as well
I was looking at AVDV as well.
My port is: \~30% VOO \~25% AVUV \~20% VGT \~20% AVDV \~5% AVEE
ye. AVDV/FNDF doing my mental health wonders this past year
I have a good portfolio template for ya. For starters, unless you know a great deal about investing, keep it simple and invest in ETFs only. Each ETF (Exchange Traded Fund) is like a basket of stocks. Some contain hundreds, or even thousands of stocks in a single ETF. You want ur portfolio to have a main ETF, which most refer to as their core position. I like to pick one of the ETFs known for its stability and ability to grow. Vanguard has a few you could consider but I'll save you I time and suggest VTI. VTI will become your core position and I recommend 50% of your money go to it. Next, you want to add a little diversification and I suggest VXUS at 20%, I would be doing you a disservice if I didn't recommend a very popular ETF that's been a growth engine for my portfolio and it's got the ticker AVDV...Also at 20%. You now have 10% to put on something spicy and I would suggest the SOXQ ETF. It's riskier, but provides more reward and has a reputation for beating the S&P 500 benchmark... no easy task. Just expect it may be more volatile than the others. My last piece of advice is " don't panic." Hold the course and keep adding as much as you can you can to keep these positions at these percentages. If after 6 months to a year, you've learned enough and want to change something, go for it. But this template is good for the times we're living in. Others would have you invest only in VT...Which basically contains every US company and a chunk of international companies to boot...But I think you can do better with that template.
I really don’t like ETFs with thousands of holdings. Much rather own JIVE, FRDM, MELI, NU, MITSY. AVDV good too
Built my portfolio with a small cap value tilt, and it payed of very well last year. AVDV was the star of 2025. AVUV doing well this year.
The Avantis funds have meaningfully outperformed the most common recommendations in this post. Consider some combination of AVDE, AVIV, AVDV, and AVEM. Take note of the higher expense ratios.
IDVO and AVDV are solid choices
I’m 100% total international in my 401k and international small cap value(AVDV) in my roth. Things are going real good for me so far this year.
I use VT as my core holding at close to 55% and have the rest in 2 satellite positions in AVDV and SOXX
Closed my CELH position. Started buying in Aug 2024 at $38.25, added more at $32.13 in Sep 2024 and again in Feb 2025 at $21.68. I was planning to hold no longer than a couple years as it was a catch-the-knife play. Felt like a good time to raise cash so I got out at $48.38. Returned 38% vs SPY 26% and QQQ 32%. Used the some of the cash to open positions in VEEV and EZPW and added 4% more shares to each of my QQQ, VOO, AVDV, and AVUV positions.
Or if you actually want to make money FRDM + AVDV + MELI + NU
Both US & Int'l SCV have had a great start this year. AVUV up 10% and AVDV 9% so far. Been buying AVGS ETF (~70/30 AVUV/AVDV) since inception and will keep DCAing till it's 20% of my port.
tbh I chose avuv/avdv because they came out first and have cheaper expense ratio. Either dfsv and disv are probably good enough for most people. AVUV and AVDV have out performed dfsv and disv so far who knows what will happen 10-20 years from now.
Agreed. Like the combo of DFSV & AVDV. Slightly less Mid Caps.
VIOV has Cheap ER. AVDV international SCV
Same trying to keep it as simple as possible too. DFAX seems to compliment AVDV. Small Cap Value US (DFSV, AVUV, VIOV, etc) seems like a tougher commitment. May be alone in that opinion though. Like that DFAX has TSM & Samsung.
AVDV + DFAX for international?
AVDE has meaningfully outperformed the most commonly mentioned international ETFs in this subreddit. I also include AVDV for international small cap value, which demonstrated a remarkably strong performance last year, as well as AVEM for emerging markets. All of these are off to strong starts in 2026. Of note, they do have higher expense ratios than other ETFs but that should be taken into account with performance differences as well.
To answer your questions more directly, I had taken 2025 off from work, so I wanted to take advantage of realizing some gains. I've also always kept a huge (\~15%) "dry powder" reserve, and I was tired of losing it to inflation, so I wanted to deploy it this year. So between realizing gains and deploying dry powder, I had a huge pile of cash. I've always been a basic 80/20 VTI/VXUS investor. But since I had so much free time I had done a lot of research into investing that year and discovered factor investing. I thought it looked interesting and figured I'd give it a shot. I'd also seen gold and international crush it in 2025, and I do feel that the current administration is absolutely fucking us and we are set for a reversal of US outperformance for the foreseeable future. I also have major currency concerns. So I realized most of the gains from my S&P funds and reallocated into International, SCV, momentum, and gold. (Equal parts SCHF, SCHE, IDMO, SPMO, AVUV, AVDV, GLD). My domestic momentum has been a bad pick so far, but I'm feeling pretty smug about the rest. I don't usually make good decisions. So to your questions: 1. Yes, I aligned with my goals of switching to a more factor based portfolio. 2. I did adjust my strategy based on my research into factors, as well as my belief that it's the end of the US's outperformance, and more importantly I think there is going to be a real dollar crisis. Or I could just be performance chasing, who knows. 3. Goals were fairly realistic, nothing crazy. As far as my current focus, I'm trying to invest in myself more this year. Been to the gym every day so far this year!
The P/E ratio on AVDV is still only 14.4
AVDE, AVDV, and AVEM as tilts on top of my VXUS.
AVDV… but ya know… you’re late to this idea imo
Too risky no. Life is all about risk at every level. What will bring the best returns? VOO was about 16-17% return last year, inflation was like 10%. VT was better because of international which seems to be the wave moving forward. Im personally very heavy in shny/agq leveraged gold and silver + Soxx + some other sector plays like URA and SHLD. I also have a small bit of VOO and IDMO + AVDV. USD value has gone down so much I don't really think you can just VOO and chill anymore as much as I would love to.
I bought equal parts SCHK (US Large Caps), SCHF (Dev International), SCHE (Emerging) on Jan 1st of this year. Both SCHF and SCHE have quadrupled the returns of SCHK. I also bought AVDV (International SCV), that shit is up 10%. I got curious and actually looked at it's top holdings. It's mostly gold miners lol go figure. Needless to say, I'm trimming my SCHK and adding to my international. Some may call it performance chasing, I agree, but I don't care.
If you’re going international check out the following EVLU, AVDV, FLKR
Buying AVDV during the last dip seems to be working out for me. Never heard of it before 2 weeks ago, wishing it was on my radar before I bought so much VXUS for my Roth IRA.
I think you're doing great! A few points you may want to consider: 1. If it were me I would use the true world market capitalization. It currently about 62% US, 38% International. 2. It could make sense to invest 10-20% in small cap value, an even more volatile sector with greater long term returns. 2 such funds out of many are AVUV and AVDV 3. Be sure to optimize your usage of tax advantaged accounts like (but not limited to) a 401k and IRAs.
Some other guy told you that AVUV wasn't performing well this year. I'm not sure what he is referring to. AVUV has been killing it so far in 2026, the only thing that's beating it in my portfolio is AVDV.
Check out AVDV, its an international small cap value fund
Tons. You've got options like an international small cap like SCHC AVDV, or international high dividends paying like IDV or VIGI. For a lower risk like big cap S&P probably Schwabs SCHF - it's basic description: "The investment seeks to track as closely as possible, before fees and expenses, the total return of the FTSE Developed ex U.S. Index. The index is comprised of large and mid capitalization companies in developed countries outside the United States, as defined by the index provider. The index defines the large and mid capitalization universe as approximately the top 90% of the eligible universe. The fund will invest at least 90% of its net assets in stocks, including depositary receipts representing securities of the index; such depositary receipts may be in the form of American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts." These have done \*very\* well lately. Also look at some individual country's markets like South Korea EWY - bananas growth, protect you from a crashing dollar, and they pay dividends too.
VXUS, and AVDV/DISV. DISV is better in taxable than AVDV so I place it there.
VXUS is a very solid international ETF. Some additional options to consider: \- VIGI: Vanguard International Dividend Appreciation ETF \- VYMI: Vanguard International High Dividend Yield ETF \- AVDV: Avantis International Small Cap Value ETF
Ended up buying AVDV. Feeling pretty good about that call.
There very much is a world where the fees are justified for the exposures received. Take factor investing. You can go with long-only ETF offerings like Dimensional or Avantis, or you can go long/short X quantile for value, profitability, momentum, reinvestment, etc from AQR with something like QLEIX. Global developed markets long stocks with positive factor exposure short stocks with negative exposure. And yeah, you have to pay 1.1% MER. But their results speak for themselves. They have 2/3rds the volatility of VT, and a 12% CAGR vs 10.2% CAGR net fees, including the dividends they have to pay on short positions and the MER. For a factor sensitive investor, these kind of exposures to factors/predictors is ~4x what you can get with something like AVUV or AVDV. You actually get to experience the low vol effect of market neutral factor investing at one of the biggest most reputable hedge funds in the industry.
I run 50% VT with AVDV, RING, and SLVP
It does but youre missing growth opportunities elsewhere such as AVDV, RING, SLVP, SOXX etc
I wouldnt do 100% VT, maybe 50%, add some AVDV, SOXX and some gold miners
Im more about global diversification so something like VT, AVDV, SOXX, RING, and SLVP
Former financial advisor here. First, it depends on where you hold these accounts (IRA, Roth, Taxable, etc) It also depends on how much of your overall net worth this would represent. Most importantly, it also depends on your tolerance for risk. In general, you probably shouldn’t own any individual stocks. The likelihood is in the long run you will underperform or take more risk for the performance you get. Presuming your risk profile is a 10 out of 10 (Based on your stock picks), why not just hold VT at 80% and 10% each of AVUV and AVDV. This would tilt your portfolio towards small cap value which has historically had better performance than the overall market. If you wanted to add a tactical sleeve containing individual stocks (I wouldn’t, I’d still say buy an ETF) keep it under 20% of your portfolio. If you need this money in the next 10 years, you should have as much as half in bonds.
>is the common advice still to just blindly pile into the S&P 500? it depends on who you ask. Rob Arnott is a big name in the investing world, and 2 years ago he was recommending international value stocks. https://www.youtube.com/watch?v=YzZuwe0IPEE for 2025, Arnott's FNDE was up 25%; VEA was up 42%; IVLU was up 46%; FIVLX and AVDV were up 45%; DODFX was up 38%; and TRTIX was up 44% ... to pick a few international value funds. >than it has for the decades of American stock market over performance decades? an international developed markets index outperformed the S&P 500 every year from 2002 to 2007, 1983 to 1989, and occasional other years here and there. https://www.blackrock.com/us/financial-professionals/literature/investor-education/why-bother-with-international-stocks.pdf and outperformed almost 50% of rolling 10-year periods back to 1970. https://www.tweedyfunds.com/wp-content/uploads/sites/10/2022/09/Dichotomy-Btwn-US-and-Non-US-Sept2025-Fund.pdf >Personally I think it's incredibly risky to not have a significant international portion of anyone's portfolio at this point. I have rebalanced to ~60/40 International/US in my equities given what I'm seeing happening in my country as an American. it would have been best to rebalace a few years ago when international was beaten down and unloved. but better late than never, assuming you're willing to ride it out the next time international slumps. virtually all professional investors recommend global diversification. it's mostly younger people on reddit who say the magic S&P 500 is the only thing you ever need in the portfolio.
I dramatically increased my international equity back in April 2025 and the returns have been excellent. I think the real trick though is don’t blindly pick a boring all-market fund like VXUS, get something with some strategy, methodology, finesse. My favorites include FNDF & FIVA for developed market, and FNDE for emerging market. Schwab’s FNDF and FNDE use fundamental method to evaluate company health when selecting stocks. FNDF consistently beats VXUS, and FNDE has high yield dividends that help a lot when reinvested. Fidelity’s FIVA use value factor method, looking for potentially undervalued stocks. The dividends are really high every quarter, and the performance over the past year has been a jaw dropping 44.65% gain. I have a crush on this ETF. AVDV is another one to check out. I don’t own it, but it’s a small cap international value, meaning it can be volatile but also impressive.
There are way better international ETFs than VXUS. For international, because of how erratic the economies of developing countries can be, some type of selection is good. Yes I know the US is becoming more erratic, but it's worse in many other countries. I like IDMO (large cap momentum) and AVDV (small cap value). I also have CGDG although that is 50/50 US and ex-US.
80% VT 20 AVDV is an excellent portfolio
I’ve been diversifying and incorporating more gold and international ETFS. GLDM, IDMO, AVDV. Someone unrelated, also adding more of a value tilt to my portfolio and backing away from the large caps a bit. Small cap value, some dividend funds AND REITs.
Optimal portfolio theory would tell you to seek higher leverage with smaller funds because large percentage losses are still much easier to make up for. I use 2X leverage (writing SPX-Box spreads for low-cost, tax-efficient credit) on a 200k Portfolio with internationally diversified small-cap-value funds (25% AVUV, 25% AVEE, 50% AVDV), deleveraging as my portfolio grows. I aim for 1X leverage at 500k and about 0.8X at 1M. These numbers need to slowly be adjusted upwards with inflation. (e.g. 1M now might equate 2M in 30 years). Also, I would double those numbers if I had a spouse to support. The rationale is, that I wont ever need more than 1M in retirement if I factor in social security and a paid-for house, so there is no point going high risk at that point, whereas using high leverage now gives me the highest chance of getting there.
I think its good to be globally diversified even if it may reduce returns long term. A good international fund is AVDV, pairs well with VT, VOO or VTI
Most Canadian banks will let you buy (most) US ETFs. I own GLD, AVDV, AVUV and more in a USD account with Royal Bank Investing. There are also often Canadian versions of standard indices. E.g. CA:VFV is a vanguard S&P 500 fund.
AVDV. It has returned quite nicely this year.
I'm not sure I'm the best to ask for advice here but these are the ones I have. Mostly based on diverse exposure and low fees. FLBR Brazil IPAC Asia Pacific NDIA India VWO Emerging Markets/China AVDV International Small Cap and GRAB and SE from Singapore.
There are options beyond the S&P 500 with far less AI bubble risk and lower valuations, for example: \- AVUV and AVDV: small-cap value \- VXUS: international ex-US
VXUS is the standard international diversification. AVUV and AVDV are the small value funds for the US and international developed markets which are less correlated with bigger companies. BND, and IEF are solid bond funds for uncorrelated assets.
30% VOO 10% AVLV 10% AVUV 10% VXUS 10% AVDV EM portion stays the same It ain't that easy to stay the course with a completely factor tilted portfolio. Back it off a little, hold some of the market.
For what it’s worth I am 25% each AVIV AVDV AVEV ALLW
Like the DFSV & AVDV combo.
Longterm historical data demonstrates that diversification outperforms S&P500 only (Fama French). Meanwhile, we are living in one of the most successful runs of the S&P500. Until the start of 2025, discussion on Reddit was all about “VOO and chill”. Over the last year, however, international equities has meaningful outperformed the S&P500 and this may very well represent a transition in equity dominance from U.S. to international. Time will tell. S&P500 up 17.2% YTD, Total International Equity up 34.2% YYD (AVDE), and International Small Cap Equity up 44% YTD (AVDV). This past year was a strong lesson to me regarding the importance of diversification. VOO is a fine fund and a very reasonable portfolio investment. I think there is strong argument to broaden to include VTI and/or VXUS. Good luck!