APFOX vs. ARHBX

Last updated Apr 1, 2026

Compare and contrast key facts about Artisan Emerging Markets Debt Opportunities Fund (APFOX) and Artisan International Explorer Fund (ARHBX).

APFOX is managed by Artisan. It was launched on Apr 6, 2022. ARHBX is managed by Artisan. It was launched on May 15, 2022.

Performance

APFOX vs. ARHBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Emerging Markets Debt Opportunities Fund (APFOX) and Artisan International Explorer Fund (ARHBX). The values are adjusted to include any dividend payments, if applicable.

APFOX vs. ARHBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APFOX Artisan Emerging Markets Debt Opportunities Fund	0.34%	13.45%	10.61%	11.44%	8.51%
ARHBX Artisan International Explorer Fund	0.92%	18.32%	8.34%	20.65%	-2.64%

Returns By Period

In the year-to-date period, APFOX achieves a 0.34% return, which is significantly lower than ARHBX's 0.92% return.

APFOX

• 1D: -0.35%
• 1M: -3.03%
• YTD: 0.34%
• 6M: 4.42%
• 1Y: 13.06%
• 3Y*: 10.82%
• 5Y*: —
• 10Y*: —

ARHBX

• 1D: -0.68%
• 1M: -7.06%
• YTD: 0.92%
• 6M: 0.36%
• 1Y: 12.75%
• 3Y*: 10.84%
• 5Y*: —
• 10Y*: —

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

APFOX vs. ARHBX - Expense Ratio Comparison

APFOX has a 1.25% expense ratio, which is lower than ARHBX's 1.35% expense ratio.

ARHBX

Artisan International Explorer Fund

APFOX

Artisan Emerging Markets Debt Opportunities Fund

Return for Risk

APFOX vs. ARHBX — Risk / Return Rank

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

APFOX

APFOX Risk / Return Rank: 97
APFOX Sharpe Ratio Rank: 99
APFOX Sortino Ratio Rank: 98
APFOX Omega Ratio Rank: 98
APFOX Calmar Ratio Rank: 94
APFOX Martin Ratio Rank: 95

ARHBX

ARHBX Risk / Return Rank: 42
ARHBX Sharpe Ratio Rank: 48
ARHBX Sortino Ratio Rank: 46
ARHBX Omega Ratio Rank: 37
ARHBX Calmar Ratio Rank: 47
ARHBX Martin Ratio Rank: 31

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.

APFOX vs. ARHBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Emerging Markets Debt Opportunities Fund (APFOX) and Artisan International Explorer Fund (ARHBX). 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.

	APFOX	ARHBX	Difference
Sharpe ratio Return per unit of total volatility	3.80	0.94	+2.87
Sortino ratio Return per unit of downside risk	4.87	1.33	+3.54
Omega ratio Gain probability vs. loss probability	2.00	1.17	+0.82
Calmar ratio Return relative to maximum drawdown	3.09	1.15	+1.94
Martin ratio Return relative to average drawdown	12.77	3.33	+9.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APFOX vs. ARHBX - Sharpe Ratio Comparison

The current APFOX Sharpe Ratio is 3.80, which is higher than the ARHBX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of APFOX and ARHBX, 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

	APFOX	ARHBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.80	0.94	+2.87
Sharpe Ratio (All Time) Calculated using the full available price history	2.99	0.83	+2.16

Correlation

The correlation between APFOX and ARHBX is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

APFOX vs. ARHBX - Dividend Comparison

APFOX's dividend yield for the trailing twelve months is around 7.56%, more than ARHBX's 7.37% yield.

	TTM	2025	2024	2023	2022
APFOX Artisan Emerging Markets Debt Opportunities Fund	7.56%	5.71%	9.39%	9.03%	7.17%
ARHBX Artisan International Explorer Fund	7.37%	7.44%	4.86%	1.97%	0.16%

Drawdowns

APFOX vs. ARHBX - Drawdown Comparison

The maximum APFOX drawdown since its inception was -5.69%, smaller than the maximum ARHBX drawdown of -18.10%. Use the drawdown chart below to compare losses from any high point for APFOX and ARHBX.

Drawdown Indicators

	APFOX	ARHBX	Difference
Max Drawdown Largest peak-to-trough decline	-5.69%	-18.10%	+12.41%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-9.51%	+6.30%
Current Drawdown Current decline from peak	-3.21%	-7.06%	+3.85%
Average Drawdown Average peak-to-trough decline	-0.72%	-3.61%	+2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	3.30%	-2.36%

Volatility

APFOX vs. ARHBX - Volatility Comparison

The current volatility for Artisan Emerging Markets Debt Opportunities Fund (APFOX) is 1.59%, while Artisan International Explorer Fund (ARHBX) has a volatility of 6.18%. This indicates that APFOX experiences smaller price fluctuations and is considered to be less risky than ARHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFOX	ARHBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	6.18%	-4.59%
Volatility (6M) Calculated over the trailing 6-month period	2.22%	9.24%	-7.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	13.06%	-9.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	13.83%	-10.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	13.83%	-10.07%