APFDX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Artisan Global Discovery Fund (APFDX) and S&P 500 Index (^GSPC).

APFDX is managed by Artisan. It was launched on Aug 20, 2017.

Performance

APFDX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Global Discovery Fund (APFDX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

APFDX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APFDX Artisan Global Discovery Fund	-9.16%	12.07%	16.11%	20.66%	-31.14%	12.04%	45.70%	42.57%	-2.58%	4.94%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	8.62%

Returns By Period

In the year-to-date period, APFDX achieves a -9.16% return, which is significantly lower than ^GSPC's -4.63% return.

APFDX

• 1D: -0.78%
• 1M: -11.68%
• YTD: -9.16%
• 6M: -7.46%
• 1Y: 5.68%
• 3Y*: 8.54%
• 5Y*: 2.67%
• 10Y*: —

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

APFDX vs. ^GSPC — Risk / Return Rank

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

APFDX

APFDX Risk / Return Rank: 11
APFDX Sharpe Ratio Rank: 11
APFDX Sortino Ratio Rank: 11
APFDX Omega Ratio Rank: 10
APFDX Calmar Ratio Rank: 10
APFDX Martin Ratio Rank: 11

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

APFDX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Global Discovery Fund (APFDX) and S&P 500 Index (^GSPC). 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.

	APFDX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.27	0.90	-0.63
Sortino ratio Return per unit of downside risk	0.49	1.39	-0.89
Omega ratio Gain probability vs. loss probability	1.06	1.21	-0.15
Calmar ratio Return relative to maximum drawdown	0.21	1.40	-1.18
Martin ratio Return relative to average drawdown	0.82	6.61	-5.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APFDX vs. ^GSPC - Sharpe Ratio Comparison

The current APFDX Sharpe Ratio is 0.27, which is lower than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of APFDX and ^GSPC, 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

	APFDX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	0.90	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.61	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.46	+0.06

Correlation

The correlation between APFDX and ^GSPC is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

APFDX vs. ^GSPC - Drawdown Comparison

The maximum APFDX drawdown since its inception was -40.83%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for APFDX and ^GSPC.

Drawdown Indicators

	APFDX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-40.83%	-56.78%	+15.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	-12.14%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	-40.83%	-25.43%	-15.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-13.18%	-6.45%	-6.73%
Average Drawdown Average peak-to-trough decline	-10.88%	-10.75%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	2.57%	+0.90%

Volatility

APFDX vs. ^GSPC - Volatility Comparison

Artisan Global Discovery Fund (APFDX) has a higher volatility of 6.63% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that APFDX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFDX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	5.34%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	9.54%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	18.33%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.32%	16.91%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.43%	18.05%	+2.38%