APHKX vs. GRID

Last updated Jun 24, 2026

APHKX (Artisan International Value Fund) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both funds - APHKX is a Foreign Large Cap Equities fund actively managed by Artisan, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. APHKX is actively managed, while GRID is passively managed. Over the past 10 years, APHKX returned 11.60%/yr vs 19.95%/yr for GRID. A 0.69 correlation means they provide meaningful diversification when combined. APHKX charges 0.97%/yr vs 0.70%/yr for GRID.

Performance

APHKX vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Value Fund (APHKX) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APHKX achieves a 10.82% return, which is significantly lower than GRID's 23.40% return. Over the past 10 years, APHKX has underperformed GRID with an annualized return of 11.60%, while GRID has yielded a comparatively higher 19.95% annualized 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%

GRID

• 1D: -4.46%
• 1M: -1.96%
• YTD: 23.40%
• 6M: 22.11%
• 1Y: 42.41%
• 3Y*: 24.21%
• 5Y*: 16.63%
• 10Y*: 19.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

APHKX vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APHKX Artisan International Value Fund	10.82%	22.84%	6.64%	22.95%	-6.78%	16.94%	8.81%	24.22%	-15.48%	24.09%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	23.40%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between APHKX and GRID is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.69

The correlation between APHKX and GRID shifts across timeframes, from 0.55 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

APHKX vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APHKX

APHKX Risk / Return Rank: 45
APHKX Sharpe Ratio Rank: 43
APHKX Sortino Ratio Rank: 44
APHKX Omega Ratio Rank: 50
APHKX Calmar Ratio Rank: 45
APHKX Martin Ratio Rank: 41

GRID

GRID Risk / Return Rank: 65
GRID Sharpe Ratio Rank: 63
GRID Sortino Ratio Rank: 57
GRID Omega Ratio Rank: 60
GRID Calmar Ratio Rank: 74
GRID Martin Ratio Rank: 72

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. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Value Fund (APHKX) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	APHKX	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.01	-0.24
Sortino ratio: Return per unit of downside risk	2.59	2.63	-0.04
Omega ratio: Gain probability vs. loss probability	1.36	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	2.47	3.63	-1.17
Martin ratio: Return relative to average drawdown	8.34	12.92	-4.58

APHKX vs. GRID - Sharpe Ratio Comparison

The current APHKX Sharpe Ratio is 1.77, which is comparable to the GRID Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of APHKX and GRID, 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

APHKX vs. GRID - Drawdown Comparison

The maximum APHKX drawdown since its inception was -56.33%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for APHKX and GRID.

Drawdown Indicators

	APHKX	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-56.33%	-40.56%	-15.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.96%	-11.73%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-10.87%	-20.77%	+9.90%
Max Drawdown (5Y) Largest decline over 5 years	-24.83%	-29.64%	+4.81%
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	-40.56%	+2.49%
Current Drawdown Current decline from peak	-0.67%	-5.55%	+4.88%
Average Drawdown Average peak-to-trough decline	-9.08%	-8.42%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.29%	-0.36%

Volatility

APHKX vs. GRID - Volatility Comparison

The current volatility for Artisan International Value Fund (APHKX) is 3.94%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 10.12%. This indicates that APHKX experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APHKX	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	10.12%	-6.18%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	18.23%	-8.18%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	21.26%	-7.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	21.37%	-7.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	22.80%	-6.67%

APHKX vs. GRID - Expense Ratio Comparison

APHKX has a 0.97% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

APHKX vs. GRID - Dividend Comparison

APHKX's dividend yield for the trailing twelve months is around 6.44%, more than GRID's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both APHKX and GRID in my portfolio?

APHKX and GRID have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APHKX or GRID?

GRID has higher volatility (10.12%) compared to APHKX (3.94%). In terms of maximum drawdown, APHKX dropped -56.33% vs GRID's -40.56%.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (2.01 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.