APFPX vs. RCTRX

Last updated Jun 5, 2026

APFPX (Artisan Global Unconstrained Fund) and RCTRX (Regan Total Return Income Fund) are both Nontraditional Bonds funds. Over the past 3 years, APFPX returned 9.48%/yr vs 6.04%/yr for RCTRX. At a correlation of -0.29, they often move in opposite directions. Both charge a 1.54% expense ratio.

Performance

APFPX vs. RCTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Global Unconstrained Fund (APFPX) and Regan Total Return Income Fund (RCTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APFPX achieves a 4.00% return, which is significantly higher than RCTRX's 0.98% return.

APFPX

• 1D: 0.00%
• 1M: 0.02%
• YTD: 4.00%
• 6M: 4.97%
• 1Y: 11.91%
• 3Y*: 9.48%
• 5Y*: —
• 10Y*: —

RCTRX

• 1D: 0.00%
• 1M: 0.27%
• YTD: 0.98%
• 6M: 1.17%
• 1Y: 5.15%
• 3Y*: 6.04%
• 5Y*: 4.42%
• 10Y*: —

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

APFPX vs. RCTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APFPX Artisan Global Unconstrained Fund	4.00%	10.21%	11.33%	6.67%	6.73%
RCTRX Regan Total Return Income Fund	0.98%	6.56%	6.81%	7.29%	-1.11%

Correlation

The correlation between APFPX and RCTRX is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	-0.29
Correlation (All Time) Calculated using the full available price history since May 18, 2022	-0.29

The correlation between APFPX and RCTRX shifts across timeframes, from -0.29 (3 years) to -0.09 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

APFPX vs. RCTRX — Risk / Return Rank

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

APFPX

APFPX Risk / Return Rank: 99
APFPX Sharpe Ratio Rank: 99
APFPX Sortino Ratio Rank: 98
APFPX Omega Ratio Rank: 98
APFPX Calmar Ratio Rank: 99
APFPX Martin Ratio Rank: 99

RCTRX

RCTRX Risk / Return Rank: 87
RCTRX Sharpe Ratio Rank: 88
RCTRX Sortino Ratio Rank: 94
RCTRX Omega Ratio Rank: 92
RCTRX Calmar Ratio Rank: 83
RCTRX Martin Ratio Rank: 79

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.

APFPX vs. RCTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Global Unconstrained Fund (APFPX) and Regan Total Return Income Fund (RCTRX). 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	RCTRX	Difference
Sharpe ratio: Return per unit of total volatility	4.91	2.88	+2.03
Sortino ratio: Return per unit of downside risk	7.19	4.90	+2.29
Omega ratio: Gain probability vs. loss probability	2.25	1.69	+0.56
Calmar ratio: Return relative to maximum drawdown	13.50	3.74	+9.76
Martin ratio: Return relative to average drawdown	61.14	14.36	+46.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APFPX vs. RCTRX - Sharpe Ratio Comparison

The current APFPX Sharpe Ratio is 4.91, which is higher than the RCTRX Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of APFPX and RCTRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APFPX	RCTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.91	2.88	+2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.54	2.34	+1.20

Drawdowns

APFPX vs. RCTRX - Drawdown Comparison

The maximum APFPX drawdown since its inception was -2.10%, smaller than the maximum RCTRX drawdown of -4.66%. Use the drawdown chart below to compare losses from any high point for APFPX and RCTRX.

Drawdown Indicators

	APFPX	RCTRX	Difference
Max Drawdown Largest peak-to-trough decline	-2.10%	-4.66%	+2.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.90%	-1.44%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-2.02%	-1.96%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-4.66%	—
Current Drawdown Current decline from peak	-0.33%	-0.11%	-0.22%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.58%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.37%	-0.17%

Volatility

APFPX vs. RCTRX - Volatility Comparison

The current volatility for Artisan Global Unconstrained Fund (APFPX) is 0.48%, while Regan Total Return Income Fund (RCTRX) has a volatility of 0.73%. This indicates that APFPX experiences smaller price fluctuations and is considered to be less risky than RCTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFPX	RCTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.73%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	1.41%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	1.87%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.75%	2.26%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.75%	2.21%	+0.54%

APFPX vs. RCTRX - Expense Ratio Comparison

Both APFPX and RCTRX have an expense ratio of 1.54%.

Dividends

APFPX vs. RCTRX - Dividend Comparison

APFPX's dividend yield for the trailing twelve months is around 4.59%, less than RCTRX's 5.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
APFPX Artisan Global Unconstrained Fund	4.59%	4.01%	6.18%	6.89%	8.60%	0.00%	0.00%
RCTRX Regan Total Return Income Fund	5.81%	4.40%	5.79%	5.98%	5.28%	10.59%	4.98%

Frequently Asked Questions

Can I hold both APFPX and RCTRX in my portfolio?

APFPX and RCTRX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APFPX or RCTRX?

RCTRX has higher volatility (0.73%) compared to APFPX (0.48%). In terms of maximum drawdown, APFPX dropped -2.10% vs RCTRX's -4.66%.

Which has better risk-adjusted returns?

APFPX currently has the higher Sharpe Ratio (4.91 vs 2.88), 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.