APDGX vs. APFOX

Last updated Jun 24, 2026

APDGX (Artisan Global Value Fund Advisor Class) and APFOX (Artisan Emerging Markets Debt Opportunities Fund) are both mutual funds - APDGX is a Global Equities fund actively managed by Artisan, while APFOX is a Emerging Markets Bonds fund managed by Artisan. Over the past 3 years, APDGX returned 21.52%/yr vs 11.41%/yr for APFOX. At a 0.42 correlation, their price movements are largely independent. APDGX charges 1.12%/yr vs 1.25%/yr for APFOX.

Performance

APDGX vs. APFOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Global Value Fund Advisor Class (APDGX) and Artisan Emerging Markets Debt Opportunities Fund (APFOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APDGX achieves a 9.10% return, which is significantly higher than APFOX's 5.93% return.

APDGX

• 1D: -0.36%
• 1M: 2.20%
• YTD: 9.10%
• 6M: 9.34%
• 1Y: 27.80%
• 3Y*: 21.52%
• 5Y*: 12.41%
• 10Y*: 12.46%

APFOX

• 1D: 0.18%
• 1M: 1.79%
• YTD: 5.93%
• 6M: 6.58%
• 1Y: 15.80%
• 3Y*: 11.41%
• 5Y*: —
• 10Y*: —

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

APDGX vs. APFOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APDGX Artisan Global Value Fund Advisor Class	9.10%	34.25%	10.80%	26.76%	-5.84%
APFOX Artisan Emerging Markets Debt Opportunities Fund	5.93%	13.45%	10.61%	11.44%	7.85%

Correlation

The correlation between APDGX and APFOX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.42

Return for Risk

APDGX vs. APFOX — Risk / Return Rank

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

APDGX

APDGX Risk / Return Rank: 69
APDGX Sharpe Ratio Rank: 77
APDGX Sortino Ratio Rank: 78
APDGX Omega Ratio Rank: 70
APDGX Calmar Ratio Rank: 57
APDGX Martin Ratio Rank: 64

APFOX

APFOX Risk / Return Rank: 97
APFOX Sharpe Ratio Rank: 100
APFOX Sortino Ratio Rank: 99
APFOX Omega Ratio Rank: 98
APFOX Calmar Ratio Rank: 94
APFOX Martin Ratio Rank: 95

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.

APDGX vs. APFOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Global Value Fund Advisor Class (APDGX) and Artisan Emerging Markets Debt Opportunities Fund (APFOX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	APDGX	APFOX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	5.55	-3.18
Sortino ratio: Return per unit of downside risk	3.41	8.49	-5.08
Omega ratio: Gain probability vs. loss probability	1.42	2.43	-1.01
Calmar ratio: Return relative to maximum drawdown	2.77	4.97	-2.19
Martin ratio: Return relative to average drawdown	11.76	20.82	-9.06

APDGX vs. APFOX - Sharpe Ratio Comparison

The current APDGX Sharpe Ratio is 2.36, which is lower than the APFOX Sharpe Ratio of 5.55. The chart below compares the historical Sharpe Ratios of APDGX and APFOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APDGX vs. APFOX - Drawdown Comparison

The maximum APDGX drawdown since its inception was -39.94%, which is greater than APFOX's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for APDGX and APFOX.

Drawdown Indicators

	APDGX	APFOX	Difference
Max Drawdown Largest peak-to-trough decline	-39.94%	-5.69%	-34.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-3.21%	-6.99%
Max Drawdown (3Y) Largest decline over 3 years	-10.68%	-5.69%	-4.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.94%	—	—
Current Drawdown Current decline from peak	-1.10%	0.00%	-1.10%
Average Drawdown Average peak-to-trough decline	-5.33%	-0.70%	-4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	0.76%	+1.64%

Volatility

APDGX vs. APFOX - Volatility Comparison

Artisan Global Value Fund Advisor Class (APDGX) has a higher volatility of 3.93% compared to Artisan Emerging Markets Debt Opportunities Fund (APFOX) at 0.74%. This indicates that APDGX's price experiences larger fluctuations and is considered to be riskier than APFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APDGX	APFOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	0.74%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	2.51%	+7.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	2.88%	+9.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	3.73%	+10.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	3.73%	+13.57%

APDGX vs. APFOX - Expense Ratio Comparison

APDGX has a 1.12% expense ratio, which is lower than APFOX's 1.25% expense ratio.

Dividends

APDGX vs. APFOX - Dividend Comparison

APDGX's dividend yield for the trailing twelve months is around 4.34%, less than APFOX's 7.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
APDGX Artisan Global Value Fund Advisor Class	4.34%	4.73%	5.56%	3.04%	3.84%	9.53%	0.09%	1.46%	6.54%	2.18%	2.76%
APFOX Artisan Emerging Markets Debt Opportunities Fund	7.10%	5.71%	9.39%	9.03%	7.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APDGX and APFOX in my portfolio?

APDGX and APFOX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APDGX or APFOX?

APDGX has higher volatility (3.93%) compared to APFOX (0.74%). In terms of maximum drawdown, APDGX dropped -39.94% vs APFOX's -5.69%.

Which has better risk-adjusted returns?

APFOX currently has the higher Sharpe Ratio (5.55 vs 2.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.