US-listed · NYSE Arca · FIF-eligible (above NZ$50K)
Avantis AVUV Avantis US Small Cap Value ETF
Actively-managed small-cap value strategy targeting US companies with high profitability and low valuation multiples.
Updated Reviewed quarterly
About this fund
What is AVUV?
AVUV is the US-listed ticker for Avantis US Small Cap Value ETF, issued by Avantis. Actively-managed small-cap value strategy targeting US companies with high profitability and low valuation multiples. TER is 0.25% per year, with a trailing 12-month distribution yield of approximately 1.6%. Distributions are paid quarterly.
How to buy
Where can I buy AVUV from New Zealand?
Hatch NZ-built. US$3 flat per trade, ~0.5% FX.
Stake Commission-free US shares; ~0.7% FX.
Sharesies NZ + AU + US in one account; tiered subscription pricing.
Interactive Brokers Tiered commissions; FX margin ~0.002% (lowest published of platforms reviewed).
See the full platform comparison for fees, minimums, and supported markets across all 11 NZ-accessible brokers.
NZ tax
How is AVUV taxed for NZ investors?
AVUV is US-listed, so it sits in the Foreign Investment Fund (FIF) regime once your overseas-share holdings exceed NZ$50,000 cost basis. Below that threshold, the FIF regime does not apply and you pay tax on dividends only.
Above NZ$50K cost basis, most NZ retail investors use the Fair Dividend Rate (FDR) method — deemed income = 5% × opening market value × your marginal tax rate. FDR vs CV method →
US dividends carry 15% US withholding tax under the NZ–US tax treaty (file a W-8BEN with your broker; without it, the rate is 30%). The 15% can be claimed as a foreign tax credit on your IR3.
Tax outcomes depend on your portfolio size, marginal rate, and FDR-vs-CV election. See PIE vs FIF for the full comparison and consult a registered NZ tax adviser for personalised guidance.
FAQ
Common questions about AVUV
What is the AVUV ETF? ⌄
AVUV is the Avantis US Small Cap Value ETF — actively managed by Avantis Investors (a subsidiary of American Century Investments). It targets US small-cap stocks with high profitability and low valuation multiples (small + value + quality factor tilt). TER is 0.25%, distributions paid quarterly. Yield ~1.6%. Designed by ex-Dimensional Fund Advisors researchers using academic factor-investing principles.
Why pay an active TER for a small-cap value ETF? ⌄
Avantis funds use systematic, rules-based screening — closer to enhanced indexing than traditional discretionary active management. The 0.25% TER reflects the cost of constructing a small + value + profitability factor portfolio (more turnover and screening cost than a pure index fund). Whether the factor premium justifies the higher cost depends on whether small-cap-value's historical premium persists — academic research is mixed.
AVUV vs IJS or VBR — alternatives? ⌄
IJS (iShares S&P Small-Cap 600 Value, 0.18% TER) and VBR (Vanguard Small-Cap Value, 0.07% TER) are passive small-cap value alternatives. AVUV is actively-screened with stronger profitability + valuation tilts. Historical performance has favoured the active approach in some periods, the passive approach in others. Cost difference: AVUV costs ~0.18 percentage points more per year than VBR — meaningful over decades.
Can NZ residents buy AVUV? ⌄
Yes. AVUV is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply. Note: small-cap-value strategies are higher-volatility than broad-market or large-cap-growth strategies, so the FDR-floor + decay interaction discussed in our FIF guide applies more strongly.
Related ETFs and resources
IWM — iShares Russell 2000 (broader small-cap)
Broad small-cap index alternative without value tilt.
VTI — Vanguard Total Stock Market
US-equity core holding; already includes small-caps.
AVDV — Avantis International Small Cap Value
International sister fund applying same factor approach to ex-US small-caps.
FIF tax explained
How FIF applies and FDR-floor + small-cap-volatility interaction.