APHIX vs. ARTRX

Last updated Aug 1, 2026

APHIX (Artisan International Fund Institutional Class) and ARTRX (Artisan Global Opportunities Fund Class I) are both mutual funds - APHIX is a Foreign Large Cap Equities fund actively managed by Artisan, while ARTRX is a Global Equities fund managed by Artisan. Over the past 10 years, APHIX returned 10.27%/yr vs 10.66%/yr for ARTRX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. APHIX charges 0.96%/yr vs 1.14%/yr for ARTRX.

Performance

APHIX vs. ARTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Fund Institutional Class (APHIX) and Artisan Global Opportunities Fund Class I (ARTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APHIX achieves a 15.20% return, which is significantly higher than ARTRX's 2.76% return. Both investments have delivered pretty close results over the past 10 years, with APHIX having a 10.27% annualized return and ARTRX not far ahead at 10.66%.

APHIX

• 1D: 1.73%
• 1M: -0.46%
• 6M: 5.51%
• YTD: 15.20%
• 1Y: 24.01%
• 3Y*: 21.72%
• 5Y*: 10.28%
• 10Y*: 10.27%
• ALL TIME*: 6.01%

ARTRX

• 1D: 0.62%
• 1M: -4.32%
• 6M: 0.91%
• YTD: 2.76%
• 1Y: 5.18%
• 3Y*: 10.57%
• 5Y*: 2.48%
• 10Y*: 10.66%
• ALL TIME*: 10.65%

*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)
APHIX Artisan International Fund Institutional Class	$0.00	$0.00	$0.00
ARTRX Artisan Global Opportunities Fund Class I	$0.00	$0.00	$0.00

APHIX vs. ARTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APHIX Artisan International Fund Institutional Class	15.20%	36.49%	10.89%	14.52%	-19.35%	9.10%	7.84%	29.43%	-10.81%	31.25%
ARTRX Artisan Global Opportunities Fund Class I	2.76%	8.91%	14.82%	23.02%	-30.38%	13.48%	39.84%	35.54%	-9.20%	31.22%

Correlation

The correlation between APHIX and ARTRX is 0.63, 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.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Sep 22, 2008	0.80

The correlation between APHIX and ARTRX shifts across timeframes, from 0.63 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

APHIX vs. ARTRX — Risk / Return Rank

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

APHIX

APHIX Risk / Return Rank: 59
APHIX Sharpe Ratio Rank: 59
APHIX Sortino Ratio Rank: 61
APHIX Omega Ratio Rank: 58
APHIX Calmar Ratio Rank: 70
APHIX Martin Ratio Rank: 48

ARTRX

ARTRX Risk / Return Rank: 8
ARTRX Sharpe Ratio Rank: 8
ARTRX Sortino Ratio Rank: 8
ARTRX Omega Ratio Rank: 8
ARTRX Calmar Ratio Rank: 8
ARTRX Martin Ratio Rank: 8

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.

APHIX vs. ARTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Fund Institutional Class (APHIX) and Artisan Global Opportunities Fund Class I (ARTRX). 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.

	APHIX	ARTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.22	+1.24
Sortino ratio: Return per unit of downside risk	2.15	0.40	+1.75
Omega ratio: Gain probability vs. loss probability	1.27	1.05	+0.22
Calmar ratio: Return relative to maximum drawdown	2.29	0.26	+2.03
Martin ratio: Return relative to average drawdown	6.73	0.77	+5.96

APHIX vs. ARTRX - Sharpe Ratio Comparison

The current APHIX Sharpe Ratio is 1.46, which is higher than the ARTRX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of APHIX and ARTRX, 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

APHIX vs. ARTRX - Drawdown Comparison

The maximum APHIX drawdown since its inception was -68.47%, which is greater than ARTRX's maximum drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for APHIX and ARTRX.

Drawdown Indicators

	APHIX	ARTRX	Difference
Max Drawdown Largest peak-to-trough decline	-68.47%	-46.00%	-22.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	-12.71%	+2.94%
Max Drawdown (3Y) Largest decline over 3 years	-13.37%	-25.82%	+12.45%
Max Drawdown (5Y) Largest decline over 5 years	-33.73%	-38.37%	+4.64%
Max Drawdown (10Y) Largest decline over 10 years	-33.73%	-38.37%	+4.64%
Current Drawdown Current decline from peak	-3.89%	-4.96%	+1.07%
Average Drawdown Average peak-to-trough decline	-22.97%	-8.20%	-14.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	4.27%	-0.95%

Volatility

APHIX vs. ARTRX - Volatility Comparison

Artisan International Fund Institutional Class (APHIX) has a higher volatility of 3.83% compared to Artisan Global Opportunities Fund Class I (ARTRX) at 3.21%. This indicates that APHIX's price experiences larger fluctuations and is considered to be riskier than ARTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APHIX	ARTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.21%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	11.84%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	14.87%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	19.84%	-3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	18.92%	-2.78%

APHIX vs. ARTRX - Expense Ratio Comparison

APHIX has a 0.96% expense ratio, which is lower than ARTRX's 1.14% expense ratio.

Dividends

APHIX vs. ARTRX - Dividend Comparison

APHIX's dividend yield for the trailing twelve months is around 19.64%, more than ARTRX's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APHIX Artisan International Fund Institutional Class	19.64%	22.63%	10.37%	2.10%	2.84%	23.52%	3.45%	5.44%	10.02%	0.91%	1.50%	0.73%
ARTRX Artisan Global Opportunities Fund Class I	3.48%	3.57%	12.34%	2.30%	0.00%	10.78%	6.67%	6.94%	7.32%	4.15%	0.17%	0.70%

Frequently Asked Questions

Can I hold both APHIX and ARTRX in my portfolio?

APHIX and ARTRX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APHIX or ARTRX?

APHIX has higher volatility (3.83%) compared to ARTRX (3.21%). In terms of maximum drawdown, APHIX dropped -68.47% vs ARTRX's -46.00%.

Which has better risk-adjusted returns?

APHIX currently has the higher Sharpe Ratio (1.46 vs 0.22), 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.