APFPX vs. MWCIX
APFPX (Artisan Global Unconstrained Fund) and MWCIX (Metropolitan West Unconstrained Bond Fund) are both Nontraditional Bonds funds. Over the past 3 years, APFPX returned 9.33%/yr vs 5.89%/yr for MWCIX. At a correlation of -0.32, they often move in opposite directions. APFPX charges 1.54%/yr vs 0.76%/yr for MWCIX.
Performance
APFPX vs. MWCIX - Performance Comparison
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Returns By Period
In the year-to-date period, APFPX achieves a 4.09% return, which is significantly higher than MWCIX's 1.22% return.
APFPX
- 1D
- -0.18%
- 1M
- 0.11%
- YTD
- 4.09%
- 6M
- 4.40%
- 1Y
- 11.47%
- 3Y*
- 9.33%
- 5Y*
- —
- 10Y*
- —
MWCIX
- 1D
- 0.10%
- 1M
- 0.65%
- YTD
- 1.22%
- 6M
- 1.70%
- 1Y
- 5.87%
- 3Y*
- 5.89%
- 5Y*
- 1.98%
- 10Y*
- 2.85%
APFPX vs. MWCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.09% | 10.21% | 11.33% | 6.67% | 6.73% |
MWCIX Metropolitan West Unconstrained Bond Fund | 1.22% | 7.50% | 5.40% | 6.07% | -3.34% |
Correlation
The correlation between APFPX and MWCIX is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.31 |
Correlation (All Time) Calculated using the full available price history since May 17, 2022 | -0.32 |
The correlation between APFPX and MWCIX shifts across timeframes, from -0.32 (all time) to -0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
APFPX vs. MWCIX — Risk / Return Rank
APFPX
MWCIX
APFPX vs. MWCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan Global Unconstrained Fund (APFPX) and Metropolitan West Unconstrained Bond Fund (MWCIX). 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 | MWCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +2.67 | ||
| Omega ratioGain probability vs. loss probability | 2.16 | 1.53 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 12.89 | 3.64 | +9.24 |
| Martin ratioReturn relative to average drawdown | 55.94 | 15.11 | +40.82 |
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Drawdowns
APFPX vs. MWCIX - Drawdown Comparison
The maximum APFPX drawdown since its inception was -2.10%, smaller than the maximum MWCIX drawdown of -13.00%. Use the drawdown chart below to compare losses from any high point for APFPX and MWCIX.
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Drawdown Indicators
| APFPX | MWCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.10% | -13.00% | +10.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.90% | -1.62% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -2.02% | -3.33% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.00% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.29% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -1.49% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.39% | -0.18% |
Volatility
APFPX vs. MWCIX - Volatility Comparison
The current volatility for Artisan Global Unconstrained Fund (APFPX) is 0.59%, while Metropolitan West Unconstrained Bond Fund (MWCIX) has a volatility of 0.89%. This indicates that APFPX experiences smaller price fluctuations and is considered to be less risky than MWCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APFPX | MWCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.89% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 1.96% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 2.52% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 3.64% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.75% | 3.16% | -0.41% |
APFPX vs. MWCIX - Expense Ratio Comparison
APFPX has a 1.54% expense ratio, which is higher than MWCIX's 0.76% expense ratio.
Dividends
APFPX vs. MWCIX - Dividend Comparison
APFPX's dividend yield for the trailing twelve months is around 4.58%, less than MWCIX's 5.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APFPX Artisan Global Unconstrained Fund | 4.58% | 4.01% | 6.18% | 6.89% | 8.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MWCIX Metropolitan West Unconstrained Bond Fund | 5.43% | 5.26% | 5.93% | 4.87% | 3.50% | 3.39% | 3.46% | 3.89% | 3.77% | 2.81% | 3.22% | 2.15% |
Frequently Asked Questions
APFPX and MWCIX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWCIX has higher volatility (0.89%) compared to APFPX (0.59%). In terms of maximum drawdown, APFPX dropped -2.10% vs MWCIX's -13.00%.
APFPX currently has the higher Sharpe Ratio (4.64 vs 2.34), 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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