APDIX vs. EFA
APDIX (Artisan International Fund Advisor Class) and EFA (iShares MSCI EAFE ETF) are both funds - APDIX is a International Equity fund actively managed by Artisan, while EFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net). APDIX is actively managed, while EFA is passively managed. Over the past 10 years, APDIX returned 10.88%/yr vs 9.87%/yr for EFA. Their correlation of 0.86 suggests significant overlap in exposure. APDIX charges 1.05%/yr vs 0.32%/yr for EFA.
Performance
APDIX vs. EFA - Performance Comparison
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Returns By Period
In the year-to-date period, APDIX achieves a 15.82% return, which is significantly higher than EFA's 8.38% return. Over the past 10 years, APDIX has outperformed EFA with an annualized return of 10.88%, while EFA has yielded a comparatively lower 9.87% annualized return.
APDIX
- 1D
- 0.94%
- 1M
- 0.59%
- YTD
- 15.82%
- 6M
- 15.86%
- 1Y
- 25.85%
- 3Y*
- 23.08%
- 5Y*
- 10.53%
- 10Y*
- 10.88%
EFA
- 1D
- -2.03%
- 1M
- 0.10%
- YTD
- 8.38%
- 6M
- 8.09%
- 1Y
- 21.83%
- 3Y*
- 16.63%
- 5Y*
- 8.49%
- 10Y*
- 9.87%
APDIX vs. EFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APDIX Artisan International Fund Advisor Class | 15.82% | 36.36% | 10.78% | 14.44% | -19.44% | 9.01% | 7.75% | 29.33% | -10.86% | 31.12% |
EFA iShares MSCI EAFE ETF | 8.38% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
Correlation
The correlation between APDIX and EFA is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.86 |
The correlation between APDIX and EFA shifts across timeframes, from 0.71 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APDIX vs. EFA — Risk / Return Rank
APDIX
EFA
APDIX vs. EFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan International Fund Advisor Class (APDIX) and iShares MSCI EAFE ETF (EFA). 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.
| APDIX | EFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.26 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 1.92 | +0.83 |
| Martin ratioReturn relative to average drawdown | 8.99 | 7.16 | +1.83 |
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Drawdowns
APDIX vs. EFA - Drawdown Comparison
The maximum APDIX drawdown since its inception was -33.79%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for APDIX and EFA.
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Drawdown Indicators
| APDIX | EFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.79% | -61.04% | +27.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.77% | -11.42% | +1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -14.05% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -33.79% | -29.53% | -4.26% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -34.19% | +0.40% |
Current DrawdownCurrent decline from peak | -3.35% | -2.03% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -6.98% | -11.91% | +4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 3.05% | -0.08% |
Volatility
APDIX vs. EFA - Volatility Comparison
The current volatility for Artisan International Fund Advisor Class (APDIX) is 5.00%, while iShares MSCI EAFE ETF (EFA) has a volatility of 5.30%. This indicates that APDIX experiences smaller price fluctuations and is considered to be less risky than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APDIX | EFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 5.30% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 13.31% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.12% | 15.65% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 16.58% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.31% | 17.03% | -0.72% |
APDIX vs. EFA - Expense Ratio Comparison
APDIX has a 1.05% expense ratio, which is higher than EFA's 0.32% expense ratio.
Dividends
APDIX vs. EFA - Dividend Comparison
APDIX's dividend yield for the trailing twelve months is around 19.72%, more than EFA's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APDIX Artisan International Fund Advisor Class | 19.72% | 22.84% | 10.42% | 2.00% | 2.74% | 23.63% | 3.39% | 5.41% | 9.98% | 0.83% | 1.45% | 0.00% |
EFA iShares MSCI EAFE ETF | 3.28% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
Frequently Asked Questions
APDIX and EFA have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFA has higher volatility (5.30%) compared to APDIX (5.00%). In terms of maximum drawdown, APDIX dropped -33.79% vs EFA's -61.04%.
APDIX currently has the higher Sharpe Ratio (1.78 vs 1.40), 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.
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