APFWX vs. FGINX

Last updated Aug 1, 2026

APFWX (Artisan Value Income Fund) and FGINX (Delaware Growth and Income Fund) are both Large Cap Value Equities funds. Over the past 3 years, APFWX returned 10.90%/yr vs 24.97%/yr for FGINX. Their correlation of 0.84 means they have usually moved in the same direction. APFWX charges 1.20%/yr vs 1.02%/yr for FGINX.

Performance

APFWX vs. FGINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Value Income Fund (APFWX) and Delaware Growth and Income Fund (FGINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APFWX achieves a 10.44% return, which is significantly lower than FGINX's 22.97% return.

APFWX

• 1D: -0.98%
• 1M: 0.58%
• 6M: 5.94%
• YTD: 10.44%
• 1Y: 17.78%
• 3Y*: 10.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.55%

FGINX

• 1D: 0.73%
• 1M: 3.68%
• 6M: 15.51%
• YTD: 22.97%
• 1Y: 46.42%
• 3Y*: 24.97%
• 5Y*: 17.46%
• 10Y*: 13.41%
• ALL TIME*: 9.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APFWX Artisan Value Income Fund	$0.00	$0.00	$0.00
FGINX Delaware Growth and Income Fund	$0.00	$0.00	$0.00

APFWX vs. FGINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APFWX Artisan Value Income Fund	10.44%	9.35%	9.69%	10.87%	-3.86%
FGINX Delaware Growth and Income Fund	22.97%	29.78%	15.13%	11.98%	4.81%

Correlation

The correlation between APFWX and FGINX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (All Time) Calculated using the full available price history since May 16, 2022	0.84

The correlation between APFWX and FGINX shifts across timeframes, from 0.68 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

APFWX vs. FGINX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APFWX

APFWX Risk / Return Rank: 55
APFWX Sharpe Ratio Rank: 59
APFWX Sortino Ratio Rank: 63
APFWX Omega Ratio Rank: 52
APFWX Calmar Ratio Rank: 53
APFWX Martin Ratio Rank: 47

FGINX

FGINX Risk / Return Rank: 98
FGINX Sharpe Ratio Rank: 99
FGINX Sortino Ratio Rank: 98
FGINX Omega Ratio Rank: 97
FGINX Calmar Ratio Rank: 98
FGINX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APFWX vs. FGINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Value Income Fund (APFWX) and Delaware Growth and Income Fund (FGINX). 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.

	APFWX	FGINX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.69	-2.19
Sortino ratio: Return per unit of downside risk	2.25	5.05	-2.80
Omega ratio: Gain probability vs. loss probability	1.26	1.66	-0.40
Calmar ratio: Return relative to maximum drawdown	1.96	5.96	-4.00
Martin ratio: Return relative to average drawdown	6.85	23.00	-16.15

APFWX vs. FGINX - Sharpe Ratio Comparison

The current APFWX Sharpe Ratio is 1.50, which is lower than the FGINX Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of APFWX and FGINX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APFWX vs. FGINX - Drawdown Comparison

The maximum APFWX drawdown since its inception was -16.00%, smaller than the maximum FGINX drawdown of -54.80%. Use the drawdown chart below to compare losses from any high point for APFWX and FGINX.

Drawdown Indicators

	APFWX	FGINX	Difference
Max Drawdown Largest peak-to-trough decline	-16.00%	-54.80%	+38.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-7.34%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-14.65%	-13.28%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.37%	—
Current Drawdown Current decline from peak	-1.31%	-0.34%	-0.97%
Average Drawdown Average peak-to-trough decline	-3.61%	-9.65%	+6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	1.91%	+0.41%

Volatility

APFWX vs. FGINX - Volatility Comparison

Artisan Value Income Fund (APFWX) has a higher volatility of 3.64% compared to Delaware Growth and Income Fund (FGINX) at 2.54%. This indicates that APFWX's price experiences larger fluctuations and is considered to be riskier than FGINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFWX	FGINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	2.54%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	7.64%	8.78%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.57%	11.85%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.52%	14.85%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.52%	16.97%	-3.45%

APFWX vs. FGINX - Expense Ratio Comparison

APFWX has a 1.20% expense ratio, which is higher than FGINX's 1.02% expense ratio.

Dividends

APFWX vs. FGINX - Dividend Comparison

APFWX's dividend yield for the trailing twelve months is around 2.03%, less than FGINX's 9.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFWX Artisan Value Income Fund	2.03%	1.61%	2.38%	2.62%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FGINX Delaware Growth and Income Fund	9.04%	11.28%	12.40%	7.11%	7.04%	11.97%	6.59%	51.75%	25.36%	5.13%	4.12%	5.66%

Frequently Asked Questions

Can I hold both APFWX and FGINX in my portfolio?

APFWX and FGINX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APFWX or FGINX?

APFWX has higher volatility (3.64%) compared to FGINX (2.54%). In terms of maximum drawdown, APFWX dropped -16.00% vs FGINX's -54.80%.

Which has better risk-adjusted returns?

FGINX currently has the higher Sharpe Ratio (3.69 vs 1.50), 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.