APDFX vs. AGG

Last updated Apr 1, 2026

Compare and contrast key facts about Artisan High Income Fund Advisor Class (APDFX) and iShares Core U.S. Aggregate Bond ETF (AGG).

APDFX is an actively managed fund by Artisan. It was launched on Mar 19, 2014. AGG is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Aggregate Bond Index. It was launched on Sep 22, 2003.

Performance

APDFX vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan High Income Fund Advisor Class (APDFX) and iShares Core U.S. Aggregate Bond ETF (AGG). The values are adjusted to include any dividend payments, if applicable.

APDFX vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APDFX Artisan High Income Fund Advisor Class	-1.96%	8.32%	8.46%	15.98%	-10.57%	3.99%	9.67%	14.84%	-1.40%	9.01%
AGG iShares Core U.S. Aggregate Bond ETF	0.02%	7.19%	1.31%	5.65%	-13.02%	-1.77%	7.48%	8.46%	0.09%	3.55%

Returns By Period

In the year-to-date period, APDFX achieves a -1.96% return, which is significantly lower than AGG's 0.02% return. Over the past 10 years, APDFX has outperformed AGG with an annualized return of 6.69%, while AGG has yielded a comparatively lower 1.66% annualized return.

APDFX

• 1D: 0.11%
• 1M: -2.09%
• YTD: -1.96%
• 6M: -0.88%
• 1Y: 5.03%
• 3Y*: 8.40%
• 5Y*: 3.97%
• 10Y*: 6.69%

AGG

• 1D: 0.23%
• 1M: -1.79%
• YTD: 0.02%
• 6M: 0.97%
• 1Y: 4.36%
• 3Y*: 3.59%
• 5Y*: 0.23%
• 10Y*: 1.66%

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

APDFX vs. AGG - Expense Ratio Comparison

APDFX has a 0.80% expense ratio, which is higher than AGG's 0.03% expense ratio.

APDFX

Artisan High Income Fund Advisor Class

AGG

iShares Core U.S. Aggregate Bond ETF

Return for Risk

APDFX vs. AGG — Risk / Return Rank

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

APDFX

APDFX Risk / Return Rank: 83
APDFX Sharpe Ratio Rank: 85
APDFX Sortino Ratio Rank: 89
APDFX Omega Ratio Rank: 90
APDFX Calmar Ratio Rank: 78
APDFX Martin Ratio Rank: 74

AGG

AGG Risk / Return Rank: 60
AGG Sharpe Ratio Rank: 60
AGG Sortino Ratio Rank: 58
AGG Omega Ratio Rank: 50
AGG Calmar Ratio Rank: 74
AGG Martin Ratio Rank: 57

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.

APDFX vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund Advisor Class (APDFX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.

	APDFX	AGG	Difference
Sharpe ratio Return per unit of total volatility	1.64	1.00	+0.63
Sortino ratio Return per unit of downside risk	2.45	1.42	+1.03
Omega ratio Gain probability vs. loss probability	1.40	1.18	+0.22
Calmar ratio Return relative to maximum drawdown	1.82	1.81	+0.01
Martin ratio Return relative to average drawdown	7.01	5.07	+1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APDFX vs. AGG - Sharpe Ratio Comparison

The current APDFX Sharpe Ratio is 1.64, which is higher than the AGG Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of APDFX and AGG, 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

	APDFX	AGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.00	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.04	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.28	0.31	+0.97
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.59	+0.50

Correlation

The correlation between APDFX and AGG is 0.16, 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

APDFX vs. AGG - Dividend Comparison

APDFX's dividend yield for the trailing twelve months is around 6.53%, more than AGG's 3.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APDFX Artisan High Income Fund Advisor Class	6.53%	6.86%	7.27%	7.39%	6.34%	5.41%	5.42%	6.94%	7.17%	8.01%	6.70%	7.48%
AGG iShares Core U.S. Aggregate Bond ETF	3.93%	3.89%	3.74%	3.13%	2.39%	1.77%	2.14%	2.70%	2.72%	2.32%	2.39%	2.45%

Drawdowns

APDFX vs. AGG - Drawdown Comparison

The maximum APDFX drawdown since its inception was -21.52%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for APDFX and AGG.

Drawdown Indicators

	APDFX	AGG	Difference
Max Drawdown Largest peak-to-trough decline	-21.52%	-18.43%	-3.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.52%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-14.64%	-17.82%	+3.18%
Max Drawdown (10Y) Largest decline over 10 years	-21.52%	-18.43%	-3.09%
Current Drawdown Current decline from peak	-2.64%	-2.36%	-0.28%
Average Drawdown Average peak-to-trough decline	-2.16%	-2.71%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.90%	-0.18%

Volatility

APDFX vs. AGG - Volatility Comparison

The current volatility for Artisan High Income Fund Advisor Class (APDFX) is 1.07%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.66%. This indicates that APDFX experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APDFX	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.66%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	1.99%	2.55%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	4.37%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.91%	6.07%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	5.39%	-0.15%