APFDX vs. CAEIX

Last updated Jun 23, 2026

APFDX (Artisan Global Discovery Fund) and CAEIX (Calvert Global Energy Solutions Fund) are both Global Equities funds. Over the past 5 years, APFDX returned 4.51%/yr vs 5.91%/yr for CAEIX. Their correlation of 0.81 suggests significant overlap in exposure. APFDX charges 1.38%/yr vs 0.99%/yr for CAEIX.

Performance

APFDX vs. CAEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Global Discovery Fund (APFDX) and Calvert Global Energy Solutions Fund (CAEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APFDX achieves a 7.33% return, which is significantly lower than CAEIX's 17.95% return.

APFDX

• 1D: 1.74%
• 1M: 3.74%
• YTD: 7.33%
• 6M: 5.71%
• 1Y: 15.60%
• 3Y*: 14.05%
• 5Y*: 4.51%
• 10Y*: —

CAEIX

• 1D: 1.29%
• 1M: -1.79%
• YTD: 17.95%
• 6M: 17.45%
• 1Y: 42.22%
• 3Y*: 11.22%
• 5Y*: 5.91%
• 10Y*: 11.57%

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

APFDX vs. CAEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APFDX Artisan Global Discovery Fund	7.33%	12.07%	16.11%	20.66%	-31.14%	12.04%	45.70%	42.57%	-2.58%	4.94%
CAEIX Calvert Global Energy Solutions Fund	17.95%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	7.77%

Correlation

The correlation between APFDX and CAEIX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.81

The correlation between APFDX and CAEIX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

APFDX vs. CAEIX — Risk / Return Rank

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

APFDX

APFDX Risk / Return Rank: 14
APFDX Sharpe Ratio Rank: 12
APFDX Sortino Ratio Rank: 13
APFDX Omega Ratio Rank: 12
APFDX Calmar Ratio Rank: 13
APFDX Martin Ratio Rank: 20

CAEIX

CAEIX Risk / Return Rank: 80
CAEIX Sharpe Ratio Rank: 81
CAEIX Sortino Ratio Rank: 70
CAEIX Omega Ratio Rank: 69
CAEIX Calmar Ratio Rank: 94
CAEIX Martin Ratio Rank: 89

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. CAEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Global Discovery Fund (APFDX) and Calvert Global Energy Solutions Fund (CAEIX). 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.

	APFDX	CAEIX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	2.44	-1.54
Sortino ratio: Return per unit of downside risk	1.42	3.18	-1.75
Omega ratio: Gain probability vs. loss probability	1.17	1.42	-0.25
Calmar ratio: Return relative to maximum drawdown	1.18	5.00	-3.82
Martin ratio: Return relative to average drawdown	4.69	16.04	-11.35

APFDX vs. CAEIX - Sharpe Ratio Comparison

The current APFDX Sharpe Ratio is 0.90, which is lower than the CAEIX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of APFDX and CAEIX, 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

APFDX vs. CAEIX - Drawdown Comparison

The maximum APFDX drawdown since its inception was -40.83%, smaller than the maximum CAEIX drawdown of -75.81%. Use the drawdown chart below to compare losses from any high point for APFDX and CAEIX.

Drawdown Indicators

	APFDX	CAEIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.83%	-75.81%	+34.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	-8.39%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	-21.19%	-24.57%	+3.38%
Max Drawdown (5Y) Largest decline over 5 years	-40.83%	-32.58%	-8.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.54%	—
Current Drawdown Current decline from peak	0.00%	-4.18%	+4.18%
Average Drawdown Average peak-to-trough decline	-10.67%	-48.51%	+37.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.61%	+0.69%

Volatility

APFDX vs. CAEIX - Volatility Comparison

Artisan Global Discovery Fund (APFDX) and Calvert Global Energy Solutions Fund (CAEIX) have volatilities of 6.85% and 6.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFDX	CAEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	6.86%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	14.53%	13.98%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	17.18%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.72%	19.33%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	19.72%	+0.78%

APFDX vs. CAEIX - Expense Ratio Comparison

APFDX has a 1.38% expense ratio, which is higher than CAEIX's 0.99% expense ratio.

Dividends

APFDX vs. CAEIX - Dividend Comparison

APFDX's dividend yield for the trailing twelve months is around 18.29%, more than CAEIX's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFDX Artisan Global Discovery Fund	18.29%	19.63%	0.87%	0.00%	0.00%	7.91%	1.88%	0.00%	0.51%	0.62%	0.00%	0.00%
CAEIX Calvert Global Energy Solutions Fund	0.61%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%

Frequently Asked Questions

Can I hold both APFDX and CAEIX in my portfolio?

APFDX and CAEIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APFDX or CAEIX?

CAEIX has higher volatility (6.86%) compared to APFDX (6.85%). In terms of maximum drawdown, APFDX dropped -40.83% vs CAEIX's -75.81%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (2.44 vs 0.90), 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.