APHEX vs. ODVIX

Last updated Aug 1, 2026

APHEX (Artisan Sustainable Emerging Markets Fund) and ODVIX (Invesco Developing Markets Fund Class R6) are both Emerging Markets Equities funds. Over the past 10 years, APHEX returned 9.63%/yr vs 7.17%/yr for ODVIX. Their correlation of 0.89 means they have usually moved in the same direction. APHEX charges 1.07%/yr vs 0.88%/yr for ODVIX.

Performance

APHEX vs. ODVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Sustainable Emerging Markets Fund (APHEX) and Invesco Developing Markets Fund Class R6 (ODVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APHEX achieves a 13.40% return, which is significantly lower than ODVIX's 15.60% return. Over the past 10 years, APHEX has outperformed ODVIX with an annualized return of 9.63%, while ODVIX has yielded a comparatively lower 7.17% annualized return.

APHEX

• 1D: 3.13%
• 1M: -2.88%
• 6M: 2.86%
• YTD: 13.40%
• 1Y: 33.74%
• 3Y*: 19.46%
• 5Y*: 6.97%
• 10Y*: 9.63%
• ALL TIME*: 5.84%

ODVIX

• 1D: 3.15%
• 1M: 1.47%
• 6M: 7.27%
• YTD: 15.60%
• 1Y: 35.83%
• 3Y*: 12.15%
• 5Y*: 3.23%
• 10Y*: 7.17%
• ALL TIME*: 6.06%

*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)
APHEX Artisan Sustainable Emerging Markets Fund	$0.00	$0.00	$0.00
ODVIX Invesco Developing Markets Fund Class R6	$0.00	$0.00	$0.00

APHEX vs. ODVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APHEX Artisan Sustainable Emerging Markets Fund	13.40%	42.86%	7.10%	18.50%	-28.37%	-0.46%	20.97%	19.96%	-15.46%	39.93%
ODVIX Invesco Developing Markets Fund Class R6	15.60%	28.84%	-0.98%	11.55%	-24.85%	-7.17%	17.66%	24.58%	-11.78%	35.33%

Correlation

The correlation between APHEX and ODVIX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011	0.89

The correlation between APHEX and ODVIX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

Return for Risk

APHEX vs. ODVIX — Risk / Return Rank

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

APHEX

APHEX Risk / Return Rank: 62
APHEX Sharpe Ratio Rank: 69
APHEX Sortino Ratio Rank: 62
APHEX Omega Ratio Rank: 64
APHEX Calmar Ratio Rank: 64
APHEX Martin Ratio Rank: 52

ODVIX

ODVIX Risk / Return Rank: 74
ODVIX Sharpe Ratio Rank: 75
ODVIX Sortino Ratio Rank: 69
ODVIX Omega Ratio Rank: 74
ODVIX Calmar Ratio Rank: 83
ODVIX Martin Ratio Rank: 68

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.

APHEX vs. ODVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Sustainable Emerging Markets Fund (APHEX) and Invesco Developing Markets Fund Class R6 (ODVIX). 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.

	APHEX	ODVIX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.72	-0.12
Sortino ratio: Return per unit of downside risk	2.15	2.32	-0.17
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.14	2.77	-0.63
Martin ratio: Return relative to average drawdown	7.08	8.34	-1.25

APHEX vs. ODVIX - Sharpe Ratio Comparison

The current APHEX Sharpe Ratio is 1.60, which is comparable to the ODVIX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of APHEX and ODVIX, 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

APHEX vs. ODVIX - Drawdown Comparison

The maximum APHEX drawdown since its inception was -66.36%, which is greater than ODVIX's maximum drawdown of -45.88%. Use the drawdown chart below to compare losses from any high point for APHEX and ODVIX.

Drawdown Indicators

	APHEX	ODVIX	Difference
Max Drawdown Largest peak-to-trough decline	-66.36%	-45.88%	-20.48%
Max Drawdown (1Y) Largest decline over 1 year	-14.48%	-12.05%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.59%	-18.10%	+1.51%
Max Drawdown (5Y) Largest decline over 5 years	-40.42%	-41.42%	+1.00%
Max Drawdown (10Y) Largest decline over 10 years	-43.20%	-45.88%	+2.68%
Current Drawdown Current decline from peak	-6.96%	-6.77%	-0.19%
Average Drawdown Average peak-to-trough decline	-21.70%	-14.48%	-7.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	3.99%	+0.36%

Volatility

APHEX vs. ODVIX - Volatility Comparison

Artisan Sustainable Emerging Markets Fund (APHEX) and Invesco Developing Markets Fund Class R6 (ODVIX) have volatilities of 6.74% and 6.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APHEX	ODVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	6.53%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	16.71%	16.97%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.32%	19.44%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	18.21%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	18.08%	+0.14%

APHEX vs. ODVIX - Expense Ratio Comparison

APHEX has a 1.07% expense ratio, which is higher than ODVIX's 0.88% expense ratio.

Dividends

APHEX vs. ODVIX - Dividend Comparison

APHEX's dividend yield for the trailing twelve months is around 1.43%, less than ODVIX's 37.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APHEX Artisan Sustainable Emerging Markets Fund	1.43%	1.62%	1.23%	0.49%	1.05%	0.87%	1.23%	1.04%	0.57%	0.47%	0.75%	0.00%
ODVIX Invesco Developing Markets Fund Class R6	37.76%	43.65%	0.42%	0.95%	1.18%	5.56%	0.35%	2.61%	0.80%	0.73%	0.72%	0.99%

Frequently Asked Questions

Can I hold both APHEX and ODVIX in my portfolio?

APHEX and ODVIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APHEX or ODVIX?

APHEX has higher volatility (6.74%) compared to ODVIX (6.53%). In terms of maximum drawdown, APHEX dropped -66.36% vs ODVIX's -45.88%.

Which has better risk-adjusted returns?

ODVIX currently has the higher Sharpe Ratio (1.72 vs 1.60), 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.