APDIX vs. TIVFX

Last updated Aug 1, 2026

APDIX (Artisan International Fund Advisor Class) and TIVFX (American Beacon Tocqueville International Value Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, APDIX returned 10.17%/yr vs 7.97%/yr for TIVFX. Their correlation of 0.83 means they have usually moved in the same direction. APDIX charges 1.05%/yr vs 1.20%/yr for TIVFX.

Performance

APDIX vs. TIVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Fund Advisor Class (APDIX) and American Beacon Tocqueville International Value Fund (TIVFX). 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 lower than TIVFX's 17.03% return. Over the past 10 years, APDIX has outperformed TIVFX with an annualized return of 10.17%, while TIVFX has yielded a comparatively lower 7.97% 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%

TIVFX

• 1D: 2.89%
• 1M: -11.33%
• 6M: 3.25%
• YTD: 17.03%
• 1Y: 32.90%
• 3Y*: 17.80%
• 5Y*: 8.19%
• 10Y*: 7.97%
• ALL TIME*: 6.27%

*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
TIVFX American Beacon Tocqueville International Value Fund	$0.00	$0.00	$0.00

APDIX vs. TIVFX - 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%
TIVFX American Beacon Tocqueville International Value Fund	17.03%	36.15%	3.73%	15.43%	-20.57%	7.53%	12.61%	19.38%	-19.87%	24.18%

Correlation

The correlation between APDIX and TIVFX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.83

The correlation between APDIX and TIVFX has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

Return for Risk

APDIX vs. TIVFX — 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

TIVFX

TIVFX Risk / Return Rank: 52
TIVFX Sharpe Ratio Rank: 60
TIVFX Sortino Ratio Rank: 51
TIVFX Omega Ratio Rank: 57
TIVFX Calmar Ratio Rank: 44
TIVFX Martin Ratio Rank: 49

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. TIVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Fund Advisor Class (APDIX) and American Beacon Tocqueville International Value Fund (TIVFX). 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	TIVFX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.46	0.00
Sortino ratio: Return per unit of downside risk	2.14	1.93	+0.21
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.28	1.71	+0.57
Martin ratio: Return relative to average drawdown	6.69	6.75	-0.06

APDIX vs. TIVFX - Sharpe Ratio Comparison

The current APDIX Sharpe Ratio is 1.46, which is comparable to the TIVFX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of APDIX and TIVFX, 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. TIVFX - Drawdown Comparison

The maximum APDIX drawdown since its inception was -33.79%, smaller than the maximum TIVFX drawdown of -54.21%. Use the drawdown chart below to compare losses from any high point for APDIX and TIVFX.

Drawdown Indicators

	APDIX	TIVFX	Difference
Max Drawdown Largest peak-to-trough decline	-33.79%	-54.21%	+20.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	-19.03%	+9.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.39%	-23.99%	+10.60%
Max Drawdown (5Y) Largest decline over 5 years	-33.79%	-36.31%	+2.52%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-41.51%	+7.72%
Current Drawdown Current decline from peak	-3.91%	-16.69%	+12.78%
Average Drawdown Average peak-to-trough decline	-6.96%	-13.35%	+6.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	4.80%	-1.48%

Volatility

APDIX vs. TIVFX - Volatility Comparison

The current volatility for Artisan International Fund Advisor Class (APDIX) is 3.82%, while American Beacon Tocqueville International Value Fund (TIVFX) has a volatility of 8.59%. This indicates that APDIX experiences smaller price fluctuations and is considered to be less risky than TIVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APDIX	TIVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	8.59%	-4.77%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	19.43%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	22.33%	-7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	19.39%	-3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	17.84%	-1.70%

APDIX vs. TIVFX - Expense Ratio Comparison

APDIX has a 1.05% expense ratio, which is lower than TIVFX's 1.20% expense ratio.

Dividends

APDIX vs. TIVFX - Dividend Comparison

APDIX's dividend yield for the trailing twelve months is around 19.84%, more than TIVFX's 7.54% 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%
TIVFX American Beacon Tocqueville International Value Fund	7.54%	8.82%	10.23%	1.66%	1.39%	3.65%	0.34%	1.69%	1.37%	1.28%	1.57%	3.01%

Frequently Asked Questions

Can I hold both APDIX and TIVFX in my portfolio?

APDIX and TIVFX have a correlation of 0.76, 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 TIVFX?

TIVFX has higher volatility (8.59%) compared to APDIX (3.82%). In terms of maximum drawdown, APDIX dropped -33.79% vs TIVFX's -54.21%.

Which has better risk-adjusted returns?

TIVFX currently has the higher Sharpe Ratio (1.46 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.