APDIX vs. IVFIX

Last updated Aug 1, 2026

APDIX (Artisan International Fund Advisor Class) and IVFIX (Federated Hermes International Strategic Value Dividend Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, APDIX returned 10.17%/yr vs 7.31%/yr for IVFIX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. APDIX charges 1.05%/yr vs 0.86%/yr for IVFIX.

Performance

APDIX vs. IVFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Fund Advisor Class (APDIX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APDIX achieves a 15.14% return, which is significantly higher than IVFIX's 12.21% return. Over the past 10 years, APDIX has outperformed IVFIX with an annualized return of 10.17%, while IVFIX has yielded a comparatively lower 7.31% annualized return.

APDIX

• 1D: 1.73%
• 1M: -0.47%
• 6M: 5.47%
• YTD: 15.14%
• 1Y: 23.87%
• 3Y*: 21.60%
• 5Y*: 10.18%
• 10Y*: 10.17%
• ALL TIME*: 9.56%

IVFIX

• 1D: 0.00%
• 1M: 3.30%
• 6M: 7.45%
• YTD: 12.21%
• 1Y: 24.58%
• 3Y*: 15.01%
• 5Y*: 10.53%
• 10Y*: 7.31%
• ALL TIME*: 3.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APDIX Artisan International Fund Advisor Class	$0.00	$0.00	$0.00
IVFIX Federated Hermes International Strategic Value Dividend Fund	$0.00	$0.00	$0.00

APDIX vs. IVFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APDIX Artisan International Fund Advisor Class	15.14%	36.36%	10.78%	14.44%	-19.44%	9.01%	7.75%	29.33%	-10.86%	31.12%
IVFIX Federated Hermes International Strategic Value Dividend Fund	12.21%	31.79%	1.91%	11.05%	-2.54%	11.58%	-1.74%	20.15%	-11.96%	14.63%

Correlation

The correlation between APDIX and IVFIX is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.72

Over the past year, the correlation between APDIX and IVFIX has dropped to 0.44 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

APDIX vs. IVFIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APDIX

APDIX Risk / Return Rank: 56
APDIX Sharpe Ratio Rank: 55
APDIX Sortino Ratio Rank: 57
APDIX Omega Ratio Rank: 54
APDIX Calmar Ratio Rank: 67
APDIX Martin Ratio Rank: 45

IVFIX

IVFIX Risk / Return Rank: 88
IVFIX Sharpe Ratio Rank: 92
IVFIX Sortino Ratio Rank: 90
IVFIX Omega Ratio Rank: 87
IVFIX Calmar Ratio Rank: 95
IVFIX Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APDIX vs. IVFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Fund Advisor Class (APDIX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). 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	IVFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.38	-0.92
Sortino ratio: Return per unit of downside risk	2.14	3.36	-1.22
Omega ratio: Gain probability vs. loss probability	1.27	1.44	-0.17
Calmar ratio: Return relative to maximum drawdown	2.28	4.12	-1.84
Martin ratio: Return relative to average drawdown	6.69	9.46	-2.77

APDIX vs. IVFIX - Sharpe Ratio Comparison

The current APDIX Sharpe Ratio is 1.46, which is lower than the IVFIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of APDIX and IVFIX, 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

APDIX vs. IVFIX - Drawdown Comparison

The maximum APDIX drawdown since its inception was -33.79%, smaller than the maximum IVFIX drawdown of -51.49%. Use the drawdown chart below to compare losses from any high point for APDIX and IVFIX.

Drawdown Indicators

	APDIX	IVFIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.79%	-51.49%	+17.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	-6.97%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-13.39%	-10.75%	-2.64%
Max Drawdown (5Y) Largest decline over 5 years	-33.79%	-21.29%	-12.50%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-33.46%	-0.33%
Current Drawdown Current decline from peak	-3.91%	-0.37%	-3.54%
Average Drawdown Average peak-to-trough decline	-6.96%	-11.55%	+4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.82%	+0.50%

Volatility

APDIX vs. IVFIX - Volatility Comparison

Artisan International Fund Advisor Class (APDIX) has a higher volatility of 3.82% compared to Federated Hermes International Strategic Value Dividend Fund (IVFIX) at 3.41%. This indicates that APDIX's price experiences larger fluctuations and is considered to be riskier than IVFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APDIX	IVFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	3.41%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	9.71%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	12.10%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	13.13%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	14.56%	+1.58%

APDIX vs. IVFIX - Expense Ratio Comparison

APDIX has a 1.05% expense ratio, which is higher than IVFIX's 0.86% expense ratio.

Dividends

APDIX vs. IVFIX - Dividend Comparison

APDIX's dividend yield for the trailing twelve months is around 19.84%, more than IVFIX's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APDIX Artisan International Fund Advisor Class	19.84%	22.84%	10.42%	2.00%	2.74%	23.63%	3.39%	5.41%	9.98%	0.83%	1.45%	0.00%
IVFIX Federated Hermes International Strategic Value Dividend Fund	3.52%	3.37%	4.44%	4.01%	3.99%	3.67%	3.62%	3.98%	4.97%	4.17%	3.38%	3.95%

Frequently Asked Questions

Can I hold both APDIX and IVFIX in my portfolio?

APDIX and IVFIX 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, APDIX or IVFIX?

APDIX has higher volatility (3.82%) compared to IVFIX (3.41%). In terms of maximum drawdown, APDIX dropped -33.79% vs IVFIX's -51.49%.

Which has better risk-adjusted returns?

IVFIX currently has the higher Sharpe Ratio (2.38 vs 1.46), 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.