APFPX vs. KAMIX
APFPX (Artisan Global Unconstrained Fund) and KAMIX (Kensington Managed Income Fund) are both Nontraditional Bonds funds. Over the past 3 years, APFPX returned 9.48%/yr vs 5.25%/yr for KAMIX. At a correlation of -0.19, they often move in opposite directions. APFPX charges 1.54%/yr vs 1.36%/yr for KAMIX.
Performance
APFPX vs. KAMIX - Performance Comparison
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Returns By Period
In the year-to-date period, APFPX achieves a 4.00% return, which is significantly higher than KAMIX's 1.62% return.
APFPX
- 1D
- 0.00%
- 1M
- 0.02%
- YTD
- 4.00%
- 6M
- 4.97%
- 1Y
- 11.91%
- 3Y*
- 9.48%
- 5Y*
- —
- 10Y*
- —
KAMIX
- 1D
- -0.21%
- 1M
- 0.41%
- YTD
- 1.62%
- 6M
- 1.99%
- 1Y
- 6.66%
- 3Y*
- 5.25%
- 5Y*
- —
- 10Y*
- —
APFPX vs. KAMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.00% | 10.21% | 11.33% | 6.67% | 6.36% |
KAMIX Kensington Managed Income Fund | 1.62% | 4.32% | 4.38% | 3.96% | -2.13% |
Correlation
The correlation between APFPX and KAMIX is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2022 | -0.19 |
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Return for Risk
APFPX vs. KAMIX — Risk / Return Rank
APFPX
KAMIX
APFPX vs. KAMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan Global Unconstrained Fund (APFPX) and Kensington Managed Income Fund (KAMIX). 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.
| APFPX | KAMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.66 | ||
| Sortino ratioReturn per unit of downside risk | +3.82 | ||
| Omega ratioGain probability vs. loss probability | 2.25 | 1.46 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 13.50 | 2.71 | +10.79 |
| Martin ratioReturn relative to average drawdown | 61.14 | 12.26 | +48.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| APFPX | KAMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.91 | 2.25 | +2.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.54 | 0.80 | +2.74 |
Drawdowns
APFPX vs. KAMIX - Drawdown Comparison
The maximum APFPX drawdown since its inception was -2.10%, smaller than the maximum KAMIX drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for APFPX and KAMIX.
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Drawdown Indicators
| APFPX | KAMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.10% | -6.11% | +4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.90% | -2.55% | +1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -2.02% | -4.35% | +2.33% |
Current DrawdownCurrent decline from peak | -0.33% | -0.21% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -2.16% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.56% | -0.36% |
Volatility
APFPX vs. KAMIX - Volatility Comparison
The current volatility for Artisan Global Unconstrained Fund (APFPX) is 0.48%, while Kensington Managed Income Fund (KAMIX) has a volatility of 1.05%. This indicates that APFPX experiences smaller price fluctuations and is considered to be less risky than KAMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APFPX | KAMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.05% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 2.47% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 3.08% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 3.81% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.75% | 3.81% | -1.06% |
APFPX vs. KAMIX - Expense Ratio Comparison
APFPX has a 1.54% expense ratio, which is higher than KAMIX's 1.36% expense ratio.
Dividends
APFPX vs. KAMIX - Dividend Comparison
APFPX's dividend yield for the trailing twelve months is around 4.59%, less than KAMIX's 5.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.59% | 4.01% | 6.18% | 6.89% | 8.60% |
KAMIX Kensington Managed Income Fund | 5.60% | 4.57% | 5.60% | 4.15% | 0.75% |
Frequently Asked Questions
APFPX and KAMIX have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KAMIX has higher volatility (1.05%) compared to APFPX (0.48%). In terms of maximum drawdown, APFPX dropped -2.10% vs KAMIX's -6.11%.
APFPX currently has the higher Sharpe Ratio (4.91 vs 2.25), 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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