APHFX vs. SCYB
APHFX (Artisan High Income Fund Class I) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds. APHFX is actively managed, while SCYB is passively managed. Over the past 3 years, APHFX returned 7.95%/yr vs 8.33%/yr for SCYB. Their 0.61 correlation means they have sometimes moved together and sometimes differently. APHFX charges 0.71%/yr vs 0.03%/yr for SCYB.
Performance
APHFX vs. SCYB - Performance Comparison
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Returns By Period
In the year-to-date period, APHFX achieves a 0.92% return, which is significantly lower than SCYB's 2.09% return.
APHFX
- 1D
- 0.00%
- 1M
- -0.55%
- 6M
- 0.21%
- YTD
- 0.92%
- 1Y
- 3.79%
- 3Y*
- 7.95%
- 5Y*
- 3.63%
- 10Y*
- —
- ALL TIME*
- 5.67%
SCYB
- 1D
- 0.21%
- 1M
- -0.06%
- 6M
- 1.26%
- YTD
- 2.09%
- 1Y
- 5.64%
- 3Y*
- 8.33%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $26.62M | $28.32M | $31.29M |
APHFX vs. SCYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
APHFX Artisan High Income Fund Class I | 0.92% | 8.43% | 8.60% | 7.67% |
SCYB Schwab High Yield Bond ETF | 2.09% | 8.33% | 8.15% | 7.29% |
Correlation
The correlation between APHFX and SCYB is 0.62, 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. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.61 |
The correlation between APHFX and SCYB has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
APHFX vs. SCYB — Risk / Return Rank
APHFX
SCYB
APHFX vs. SCYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund Class I (APHFX) and Schwab High Yield Bond ETF (SCYB). 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 | SCYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.32 | -0.96 |
| Martin ratioReturn relative to average drawdown | 6.01 | 10.11 | -4.11 |
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Drawdowns
APHFX vs. SCYB - Drawdown Comparison
The maximum APHFX drawdown since its inception was -21.51%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for APHFX and SCYB.
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Drawdown Indicators
| APHFX | SCYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -4.92% | -16.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.44% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -4.92% | +1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -14.80% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -0.25% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -0.50% | -1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.56% | +0.06% |
Volatility
APHFX vs. SCYB - Volatility Comparison
The current volatility for Artisan High Income Fund Class I (APHFX) is 0.47%, while Schwab High Yield Bond ETF (SCYB) has a volatility of 0.76%. This indicates that APHFX experiences smaller price fluctuations and is considered to be less risky than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APHFX | SCYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 0.76% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 3.04% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 3.76% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 5.04% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 5.04% | +0.23% |
APHFX vs. SCYB - Expense Ratio Comparison
APHFX has a 0.71% expense ratio, which is higher than SCYB's 0.03% expense ratio.
Dividends
APHFX vs. SCYB - Dividend Comparison
APHFX's dividend yield for the trailing twelve months is around 6.46%, less than SCYB's 6.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
APHFX Artisan High Income Fund Class I | 6.46% | 6.96% | 7.39% | 5.56% | 5.83% | 5.50% | 6.01% | 6.44% | 7.25% | 7.96% |
SCYB Schwab High Yield Bond ETF | 6.93% | 6.99% | 7.06% | 3.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
APHFX and SCYB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCYB has higher volatility (0.76%) compared to APHFX (0.47%). In terms of maximum drawdown, APHFX dropped -21.51% vs SCYB's -4.92%.
SCYB currently has the higher Sharpe Ratio (1.51 vs 1.26), 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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