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APHKX vs. APFPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

APHKX vs. APFPX

Last updated Jun 24, 2026

APHKX (Artisan International Value Fund) and APFPX (Artisan Global Unconstrained Fund) are both mutual funds - APHKX is a Foreign Large Cap Equities fund actively managed by Artisan, while APFPX is a Nontraditional Bonds fund managed by Artisan. Over the past 3 years, APHKX returned 16.56%/yr vs 9.18%/yr for APFPX. At a correlation of -0.13, they often move in opposite directions. APHKX charges 0.97%/yr vs 1.54%/yr for APFPX.

Performance

APHKX vs. APFPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Value Fund (APHKX) and Artisan Global Unconstrained Fund (APFPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, APHKX achieves a 10.82% return, which is significantly higher than APFPX's 4.18% return.

APHKX

1D
-0.45%
1M
2.41%
YTD
10.82%
6M
11.16%
1Y
23.99%
3Y*
16.56%
5Y*
11.05%
10Y*
11.60%

APFPX

1D
0.09%
1M
0.20%
YTD
4.18%
6M
4.50%
1Y
11.57%
3Y*
9.18%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

APHKX vs. APFPX - Yearly Performance Comparison

2026 (YTD)2025202420232022
APHKX
Artisan International Value Fund		10.82%22.84%6.64%22.95%2.35%
APFPX
Artisan Global Unconstrained Fund		4.18%10.21%11.33%6.67%6.73%

Correlation

The correlation between APHKX and APFPX is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.18

Correlation (3Y)
Calculated over the trailing 3-year period

-0.18

Correlation (All Time)
Calculated using the full available price history since May 17, 2022

-0.13

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Artisan International Value Fund

Artisan Global Unconstrained Fund

Often compared with APHKX:
APHKX vs. IDMOAPHKX vs. VWICXAPHKX vs. PCCOXAPHKX vs. VEAAPHKX vs. COSSXAPHKX vs. GVALAPHKX vs. ARTGX
Often compared with APFPX:
APFPX vs. RPIDXAPFPX vs. AFLIXAPFPX vs. APFDXAPFPX vs. DCAIXAPFPX vs. GMODXAPFPX vs. MWCIXAPFPX vs. FBND

Return for Risk

APHKX vs. APFPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
APHKX
APHKX Risk / Return Rank: 4545
Overall Rank
APHKX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
APHKX Sortino Ratio Rank: 4444
Sortino Ratio Rank
APHKX Omega Ratio Rank: 5050
Omega Ratio Rank
APHKX Calmar Ratio Rank: 4545
Calmar Ratio Rank
APHKX Martin Ratio Rank: 4141
Martin Ratio Rank
APFPX
APFPX Risk / Return Rank: 9999
Overall Rank
APFPX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
APFPX Sortino Ratio Rank: 9898
Sortino Ratio Rank
APFPX Omega Ratio Rank: 9898
Omega Ratio Rank
APFPX Calmar Ratio Rank: 9999
Calmar Ratio Rank
APFPX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

APHKX vs. APFPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Value Fund (APHKX) and Artisan Global Unconstrained Fund (APFPX). 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.

APHKXAPFPXDifference
Sharpe ratioReturn per unit of total volatility
1.77
4.69

-2.92

Sortino ratioReturn per unit of downside risk
2.59
6.88

-4.30

Omega ratioGain probability vs. loss probability

1.36

2.17

-0.81

Calmar ratioReturn relative to maximum drawdown

2.47

13.00

-10.53

Martin ratioReturn relative to average drawdown

8.34

56.36

-48.02

APHKX vs. APFPX - Sharpe Ratio Comparison

The current APHKX Sharpe Ratio is 1.77, which is lower than the APFPX Sharpe Ratio of 4.69. The chart below compares the historical Sharpe Ratios of APHKX and APFPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

APHKX vs. APFPX - Drawdown Comparison

The maximum APHKX drawdown since its inception was -56.33%, which is greater than APFPX's maximum drawdown of -2.10%. Use the drawdown chart below to compare losses from any high point for APHKX and APFPX.

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Drawdown Indicators

APHKXAPFPXDifference

Max Drawdown

Largest peak-to-trough decline

-56.33%

-2.10%

-54.23%

Max Drawdown (1Y)

Largest decline over 1 year

-9.96%

-0.90%

-9.06%

Max Drawdown (3Y)

Largest decline over 3 years

-10.87%

-2.02%

-8.85%

Max Drawdown (5Y)

Largest decline over 5 years

-24.83%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-38.07%

—

—

Current Drawdown

Current decline from peak

-0.67%

-0.16%

-0.51%

Average Drawdown

Average peak-to-trough decline

-9.08%

-0.25%

-8.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.93%

0.21%

+2.72%

Volatility

APHKX vs. APFPX - Volatility Comparison

Artisan International Value Fund (APHKX) has a higher volatility of 3.94% compared to Artisan Global Unconstrained Fund (APFPX) at 0.54%. This indicates that APHKX's price experiences larger fluctuations and is considered to be riskier than APFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

APHKXAPFPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.94%

0.54%

+3.40%

Volatility (6M)

Calculated over the trailing 6-month period

10.05%

2.12%

+7.93%

Volatility (1Y)

Calculated over the trailing 1-year period

13.92%

2.50%

+11.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.99%

2.75%

+11.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.13%

2.75%

+13.38%

APHKX vs. APFPX - Expense Ratio Comparison

APHKX has a 0.97% expense ratio, which is lower than APFPX's 1.54% expense ratio.

Dividends

APHKX vs. APFPX - Dividend Comparison

APHKX's dividend yield for the trailing twelve months is around 6.44%, more than APFPX's 4.58% yield.

PositionTTM20252024202320222021202020192018201720162015
APFPX
Artisan Global Unconstrained Fund		4.58%4.01%6.18%6.89%8.60%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
APHKX
Artisan International Value Fund		6.44%7.10%4.34%3.10%2.28%10.00%0.98%3.92%5.69%4.15%3.31%6.40%

Frequently Asked Questions

APHKX and APFPX have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

APHKX has higher volatility (3.94%) compared to APFPX (0.54%). In terms of maximum drawdown, APHKX dropped -56.33% vs APFPX's -2.10%.

APFPX currently has the higher Sharpe Ratio (4.69 vs 1.77), 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.

Portfolio Optimizer

Find the right allocation for APHKX and APFPX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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