Avantis U.S. Equity ETF

The fund is an actively managed U.S. equity fund that selects small-cap and mid-cap companies exhibiting higher profitability and value characteristics, as measured by adjusted book-to-price ratios and cash-flow-to-book ratios, while underweighting or excluding larger companies with lower profitability and less attractive valuations. Security weights are set using market capitalization as a baseline, then adjusted based on the fund's assessment of each holding's capitalization, profitability, value, and past performance. Because the fund's returns depend on the portfolio managers' ongoing analysis and selection decisions, performance will diverge from broad market indices.