APHFX vs. BRTR
APHFX (Artisan High Income Fund Class I) and BRTR (Blackrock Total Return ETF) are both funds - APHFX is a High Yield Bonds fund actively managed by Artisan, while BRTR is a Intermediate Core-Plus Bond fund actively managed by BlackRock. Both are actively managed. Over the past year, APHFX returned 5.35% vs 5.09% for BRTR. At a 0.40 correlation, their price movements are largely independent. APHFX charges 0.71%/yr vs 0.38%/yr for BRTR.
Performance
APHFX vs. BRTR - Performance Comparison
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Returns By Period
In the year-to-date period, APHFX achieves a 0.87% return, which is significantly higher than BRTR's 0.63% return.
APHFX
- 1D
- -0.11%
- 1M
- 0.72%
- YTD
- 0.87%
- 6M
- 1.60%
- 1Y
- 5.35%
- 3Y*
- 8.91%
- 5Y*
- 3.71%
- 10Y*
- —
BRTR
- 1D
- 0.09%
- 1M
- 0.76%
- YTD
- 0.63%
- 6M
- 0.70%
- 1Y
- 5.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
APHFX vs. BRTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
APHFX Artisan High Income Fund Class I | 0.87% | 8.43% | 8.60% | 2.60% |
BRTR Blackrock Total Return ETF | 0.63% | 8.11% | 1.29% | 0.68% |
Correlation
The correlation between APHFX and BRTR is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023 | 0.40 |
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Return for Risk
APHFX vs. BRTR — Risk / Return Rank
APHFX
BRTR
APHFX vs. BRTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund Class I (APHFX) and Blackrock Total Return ETF (BRTR). 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.
| APHFX | BRTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.25 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.57 | +0.49 |
| Martin ratioReturn relative to average drawdown | 9.25 | 4.49 | +4.76 |
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Drawdowns
APHFX vs. BRTR - Drawdown Comparison
The maximum APHFX drawdown since its inception was -21.51%, which is greater than BRTR's maximum drawdown of -5.07%. Use the drawdown chart below to compare losses from any high point for APHFX and BRTR.
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Drawdown Indicators
| APHFX | BRTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -5.07% | -16.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -3.26% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -1.46% | +1.24% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -1.36% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.13% | -0.52% |
Volatility
APHFX vs. BRTR - Volatility Comparison
The current volatility for Artisan High Income Fund Class I (APHFX) is 0.80%, while Blackrock Total Return ETF (BRTR) has a volatility of 0.98%. This indicates that APHFX experiences smaller price fluctuations and is considered to be less risky than BRTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APHFX | BRTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.98% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 2.83% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.06% | 3.64% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 4.67% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 4.67% | +0.63% |
APHFX vs. BRTR - Expense Ratio Comparison
APHFX has a 0.71% expense ratio, which is higher than BRTR's 0.38% expense ratio.
Dividends
APHFX vs. BRTR - Dividend Comparison
APHFX's dividend yield for the trailing twelve months is around 7.17%, more than BRTR's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
APHFX Artisan High Income Fund Class I | 7.17% | 6.96% | 7.39% | 5.56% | 5.83% | 5.50% | 6.01% | 6.44% | 7.25% | 7.96% |
BRTR Blackrock Total Return ETF | 4.72% | 4.86% | 5.58% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
APHFX and BRTR have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRTR has higher volatility (0.98%) compared to APHFX (0.80%). In terms of maximum drawdown, APHFX dropped -21.51% vs BRTR's -5.07%.
APHFX currently has the higher Sharpe Ratio (1.84 vs 1.40), 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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