APFWX vs. VALAX

Last updated Apr 1, 2026

Compare and contrast key facts about Artisan Value Income Fund (APFWX) and Al Frank Fund (VALAX).

APFWX is managed by Artisan. It was launched on Feb 28, 2022. VALAX is managed by Al Frank. It was launched on May 1, 2006.

Performance

APFWX vs. VALAX - Performance Comparison

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

APFWX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APFWX Artisan Value Income Fund	0.30%	9.35%	9.69%	10.87%	-3.86%
VALAX Al Frank Fund	1.54%	23.57%	13.35%	14.05%	-3.46%

Returns By Period

In the year-to-date period, APFWX achieves a 0.30% return, which is significantly lower than VALAX's 1.54% return.

APFWX

• 1D: 0.12%
• 1M: -6.69%
• YTD: 0.30%
• 6M: 2.51%
• 1Y: 7.59%
• 3Y*: 9.56%
• 5Y*: —
• 10Y*: —

VALAX

• 1D: -0.77%
• 1M: -6.61%
• YTD: 1.54%
• 6M: 7.86%
• 1Y: 29.09%
• 3Y*: 17.10%
• 5Y*: 8.94%
• 10Y*: 12.38%

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

APFWX vs. VALAX - Expense Ratio Comparison

APFWX has a 1.20% expense ratio, which is lower than VALAX's 1.24% expense ratio.

VALAX

Al Frank Fund

APFWX

Artisan Value Income Fund

Return for Risk

APFWX vs. VALAX — Risk / Return Rank

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

APFWX

APFWX Risk / Return Rank: 21
APFWX Sharpe Ratio Rank: 22
APFWX Sortino Ratio Rank: 22
APFWX Omega Ratio Rank: 20
APFWX Calmar Ratio Rank: 19
APFWX Martin Ratio Rank: 23

VALAX

VALAX Risk / Return Rank: 85
VALAX Sharpe Ratio Rank: 85
VALAX Sortino Ratio Rank: 85
VALAX Omega Ratio Rank: 84
VALAX Calmar Ratio Rank: 85
VALAX Martin Ratio Rank: 86

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.

APFWX vs. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Value Income Fund (APFWX) and Al Frank Fund (VALAX). 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.

	APFWX	VALAX	Difference
Sharpe ratio Return per unit of total volatility	0.59	1.63	-1.04
Sortino ratio Return per unit of downside risk	0.91	2.23	-1.32
Omega ratio Gain probability vs. loss probability	1.13	1.34	-0.21
Calmar ratio Return relative to maximum drawdown	0.59	2.13	-1.54
Martin ratio Return relative to average drawdown	2.45	9.00	-6.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APFWX vs. VALAX - Sharpe Ratio Comparison

The current APFWX Sharpe Ratio is 0.59, which is lower than the VALAX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of APFWX and VALAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APFWX	VALAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	1.63	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.39	+0.10

Correlation

The correlation between APFWX and VALAX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

APFWX vs. VALAX - Dividend Comparison

APFWX's dividend yield for the trailing twelve months is around 2.18%, less than VALAX's 8.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFWX Artisan Value Income Fund	2.18%	1.61%	2.38%	2.62%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VALAX Al Frank Fund	8.52%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Drawdowns

APFWX vs. VALAX - Drawdown Comparison

The maximum APFWX drawdown since its inception was -16.00%, smaller than the maximum VALAX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for APFWX and VALAX.

Drawdown Indicators

	APFWX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.00%	-61.26%	+45.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-13.03%	+1.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.22%	—
Current Drawdown Current decline from peak	-7.24%	-8.56%	+1.32%
Average Drawdown Average peak-to-trough decline	-3.76%	-10.83%	+7.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.08%	-0.31%

Volatility

APFWX vs. VALAX - Volatility Comparison

The current volatility for Artisan Value Income Fund (APFWX) is 3.40%, while Al Frank Fund (VALAX) has a volatility of 4.61%. This indicates that APFWX experiences smaller price fluctuations and is considered to be less risky than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFWX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	4.61%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	7.59%	10.48%	-2.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	18.57%	-4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.77%	17.70%	-3.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.77%	19.29%	-5.52%