APFPX vs. APHFX
APFPX (Artisan Global Unconstrained Fund) and APHFX (Artisan High Income Fund Class I) are both mutual funds - APFPX is a Nontraditional Bonds fund managed by Artisan, while APHFX is a High Yield Bonds fund actively managed by Artisan. Over the past 3 years, APFPX returned 9.14%/yr vs 7.95%/yr for APHFX. Their -0.14 correlation means they have often moved in opposite directions in the past. APFPX charges 1.54%/yr vs 0.71%/yr for APHFX.
Performance
APFPX vs. APHFX - Performance Comparison
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Returns By Period
In the year-to-date period, APFPX achieves a 5.11% return, which is significantly higher than APHFX's 0.92% return.
APFPX
- 1D
- -0.09%
- 1M
- 0.79%
- 6M
- 3.18%
- YTD
- 5.11%
- 1Y
- 11.25%
- 3Y*
- 9.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.56%
APHFX
- 1D
- 0.00%
- 1M
- -0.55%
- 6M
- 0.21%
- YTD
- 0.92%
- 1Y
- 3.79%
- 3Y*
- 7.95%
- 5Y*
- 3.63%
- 10Y*
- —
- ALL TIME*
- 5.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
APFPX vs. APHFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 5.11% | 10.21% | 11.33% | 6.67% | 6.73% |
APHFX Artisan High Income Fund Class I | 0.92% | 8.43% | 8.60% | 13.77% | -4.73% |
Correlation
The correlation between APFPX and APHFX is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.22 |
Correlation (All Time) Calculated using the full available price history since May 17, 2022 | -0.14 |
The correlation between APFPX and APHFX shifts across timeframes, from -0.26 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APFPX vs. APHFX — Risk / Return Rank
APFPX
APHFX
APFPX vs. APHFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan Global Unconstrained Fund (APFPX) and Artisan High Income Fund Class I (APHFX). 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.
| APFPX | APHFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.28 | ||
| Sortino ratioReturn per unit of downside risk | +4.24 | ||
| Omega ratioGain probability vs. loss probability | 2.13 | 1.30 | +0.83 |
| Calmar ratioReturn relative to maximum drawdown | 12.64 | 1.36 | +11.29 |
| Martin ratioReturn relative to average drawdown | 51.39 | 6.01 | +45.39 |
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Drawdowns
APFPX vs. APHFX - Drawdown Comparison
The maximum APFPX drawdown since its inception was -2.10%, smaller than the maximum APHFX drawdown of -21.51%. Use the drawdown chart below to compare losses from any high point for APFPX and APHFX.
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Drawdown Indicators
| APFPX | APHFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.10% | -21.51% | +19.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.90% | -2.74% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.02% | -3.29% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.80% | — |
Current DrawdownCurrent decline from peak | -0.38% | -0.55% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -2.46% | +2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 0.62% | -0.40% |
Volatility
APFPX vs. APHFX - Volatility Comparison
Artisan Global Unconstrained Fund (APFPX) has a higher volatility of 0.52% compared to Artisan High Income Fund Class I (APHFX) at 0.47%. This indicates that APFPX's price experiences larger fluctuations and is considered to be riskier than APHFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APFPX | APHFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.47% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 2.42% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 3.00% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 4.91% | -2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 5.27% | -2.54% |
APFPX vs. APHFX - Expense Ratio Comparison
APFPX has a 1.54% expense ratio, which is higher than APHFX's 0.71% expense ratio.
Dividends
APFPX vs. APHFX - Dividend Comparison
APFPX's dividend yield for the trailing twelve months is around 4.63%, less than APHFX's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.63% | 4.01% | 6.18% | 6.89% | 8.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
APHFX Artisan High Income Fund Class I | 6.46% | 6.96% | 7.39% | 5.56% | 5.83% | 5.50% | 6.01% | 6.44% | 7.25% | 7.96% |
Frequently Asked Questions
APFPX and APHFX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APFPX has higher volatility (0.52%) compared to APHFX (0.47%). In terms of maximum drawdown, APFPX dropped -2.10% vs APHFX's -21.51%.
APFPX currently has the higher Sharpe Ratio (4.54 vs 1.26), 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.
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