APAM vs. MO

Last updated Apr 1, 2026

Compare and contrast key facts about Artisan Partners Asset Management Inc. (APAM) and Altria Group, Inc. (MO).

Performance

APAM vs. MO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Partners Asset Management Inc. (APAM) and Altria Group, Inc. (MO). The values are adjusted to include any dividend payments, if applicable.

APAM vs. MO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APAM Artisan Partners Asset Management Inc.	-7.34%	2.72%	4.85%	60.26%	-31.31%	2.74%	71.01%	66.94%	-38.17%	45.24%
MO Altria Group, Inc.	16.36%	18.17%	40.76%	-3.70%	4.37%	24.18%	-10.21%	7.87%	-27.14%	9.45%

Fundamentals

Market Cap APAM : $2.58B MO : $110.67B
EPS APAM : $4.09 MO : $4.13
PE Ratio APAM : 8.90 MO : 15.97
PEG Ratio APAM : 18.51 MO : 0.34
PS Ratio APAM : 2.16 MO : 5.31
Total Revenue (TTM) APAM : $1.20B MO : $20.91B
Gross Profit (TTM) APAM : $540.00M MO : $14.54B
EBITDA (TTM) APAM : $504.09M MO : $10.70B

Returns By Period

In the year-to-date period, APAM achieves a -7.34% return, which is significantly lower than MO's 16.36% return. Over the past 10 years, APAM has outperformed MO with an annualized return of 11.54%, while MO has yielded a comparatively lower 7.47% annualized return.

APAM

• 1D: 2.22%
• 1M: -9.66%
• YTD: -7.34%
• 6M: -11.22%
• 1Y: 1.63%
• 3Y*: 13.14%
• 5Y*: 1.09%
• 10Y*: 11.54%

MO

• 1D: -1.54%
• 1M: -2.82%
• YTD: 16.36%
• 6M: 3.43%
• 1Y: 17.68%
• 3Y*: 23.20%
• 5Y*: 13.81%
• 10Y*: 7.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

APAM vs. MO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APAM

APAM Risk / Return Rank: 41
APAM Sharpe Ratio Rank: 44
APAM Sortino Ratio Rank: 37
APAM Omega Ratio Rank: 36
APAM Calmar Ratio Rank: 44
APAM Martin Ratio Rank: 44

MO

MO Risk / Return Rank: 67
MO Sharpe Ratio Rank: 71
MO Sortino Ratio Rank: 62
MO Omega Ratio Rank: 63
MO Calmar Ratio Rank: 69
MO Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APAM vs. MO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Partners Asset Management Inc. (APAM) and Altria Group, Inc. (MO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	APAM	MO	Difference
Sharpe ratio Return per unit of total volatility	0.06	0.84	-0.78
Sortino ratio Return per unit of downside risk	0.29	1.20	-0.91
Omega ratio Gain probability vs. loss probability	1.03	1.17	-0.13
Calmar ratio Return relative to maximum drawdown	0.07	1.31	-1.24
Martin ratio Return relative to average drawdown	0.18	3.34	-3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APAM vs. MO - Sharpe Ratio Comparison

The current APAM Sharpe Ratio is 0.06, which is lower than the MO Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of APAM and MO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APAM	MO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.06	0.84	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.68	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.33	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.56	-0.30

Correlation

The correlation between APAM and MO is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

APAM vs. MO - Dividend Comparison

APAM's dividend yield for the trailing twelve months is around 10.63%, more than MO's 6.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APAM Artisan Partners Asset Management Inc.	10.63%	8.91%	7.34%	6.02%	12.36%	8.88%	6.73%	10.49%	14.43%	6.99%	9.41%	9.29%
MO Altria Group, Inc.	6.36%	7.21%	7.65%	9.52%	8.05%	7.43%	8.29%	6.57%	6.07%	3.56%	3.48%	3.73%

Drawdowns

APAM vs. MO - Drawdown Comparison

The maximum APAM drawdown since its inception was -59.70%, smaller than the maximum MO drawdown of -81.02%. Use the drawdown chart below to compare losses from any high point for APAM and MO.

Drawdown Indicators

	APAM	MO	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-81.02%	+21.32%
Max Drawdown (1Y) Largest decline over 1 year	-21.92%	-16.40%	-5.52%
Max Drawdown (5Y) Largest decline over 5 years	-47.38%	-25.83%	-21.55%
Max Drawdown (10Y) Largest decline over 10 years	-51.07%	-53.69%	+2.62%
Current Drawdown Current decline from peak	-19.05%	-3.74%	-15.31%
Average Drawdown Average peak-to-trough decline	-23.80%	-17.45%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.80%	6.43%	+2.37%

Volatility

APAM vs. MO - Volatility Comparison

Artisan Partners Asset Management Inc. (APAM) has a higher volatility of 8.52% compared to Altria Group, Inc. (MO) at 5.97%. This indicates that APAM's price experiences larger fluctuations and is considered to be riskier than MO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APAM	MO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	5.97%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	17.56%	16.64%	+0.92%
Volatility (1Y) Calculated over the trailing 1-year period	29.01%	21.34%	+7.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.56%	20.45%	+11.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.46%	22.72%	+10.74%

Financials

APAM vs. MO - Profitability Comparison

The chart below illustrates the profitability comparison between Artisan Partners Asset Management Inc. and Altria Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

APAM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Artisan Partners Asset Management Inc. reported a gross profit of 163.10M and revenue of 335.50M. Therefore, the gross margin over that period was 48.6%.

MO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Altria Group, Inc. reported a gross profit of 3.63B and revenue of 5.85B. Therefore, the gross margin over that period was 62.1%.

APAM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Artisan Partners Asset Management Inc. reported an operating income of 146.70M and revenue of 335.50M, resulting in an operating margin of 43.7%.

MO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Altria Group, Inc. reported an operating income of 1.65B and revenue of 5.85B, resulting in an operating margin of 28.2%.

APAM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Artisan Partners Asset Management Inc. reported a net income of 94.80M and revenue of 335.50M, resulting in a net margin of 28.3%.

MO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Altria Group, Inc. reported a net income of 1.12B and revenue of 5.85B, resulting in a net margin of 19.1%.