APHKX vs. NEM

Last updated Jun 24, 2026

APHKX (Artisan International Value Fund) is Foreign Large Cap Equities fund actively managed by Artisan, while NEM (Newmont Corporation) is a stock. Over the past 10 years, APHKX returned 11.60%/yr vs 12.89%/yr for NEM. At a 0.27 correlation, their price movements are largely independent.

Performance

APHKX vs. NEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Value Fund (APHKX) and Newmont Corporation (NEM). 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 higher than NEM's -1.59% return. Over the past 10 years, APHKX has underperformed NEM with an annualized return of 11.60%, while NEM has yielded a comparatively higher 12.89% 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%

NEM

• 1D: -3.89%
• 1M: -8.89%
• YTD: -1.59%
• 6M: -6.63%
• 1Y: 66.30%
• 3Y*: 35.97%
• 5Y*: 12.67%
• 10Y*: 12.89%

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

APHKX vs. NEM - 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%
NEM Newmont Corporation	-1.59%	172.82%	-7.83%	-8.76%	-20.77%	7.40%	40.28%	30.52%	-6.15%	10.91%

Correlation

The correlation between APHKX and NEM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 2, 2006	0.27

The correlation between APHKX and NEM shifts across timeframes, from 0.25 (10 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

APHKX vs. NEM — 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

NEM

NEM Risk / Return Rank: 77
NEM Sharpe Ratio Rank: 80
NEM Sortino Ratio Rank: 73
NEM Omega Ratio Rank: 74
NEM Calmar Ratio Rank: 78
NEM Martin Ratio Rank: 79

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. NEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Value Fund (APHKX) and Newmont Corporation (NEM). 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	NEM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.40	+0.37
Sortino ratio: Return per unit of downside risk	2.59	1.81	+0.78
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	2.47	2.27	+0.20
Martin ratio: Return relative to average drawdown	8.34	5.93	+2.41

APHKX vs. NEM - Sharpe Ratio Comparison

The current APHKX Sharpe Ratio is 1.77, which is comparable to the NEM Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of APHKX and NEM, 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. NEM - Drawdown Comparison

The maximum APHKX drawdown since its inception was -56.33%, smaller than the maximum NEM drawdown of -81.30%. Use the drawdown chart below to compare losses from any high point for APHKX and NEM.

Drawdown Indicators

	APHKX	NEM	Difference
Max Drawdown Largest peak-to-trough decline	-56.33%	-81.30%	+24.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.96%	-29.39%	+19.43%
Max Drawdown (3Y) Largest decline over 3 years	-10.87%	-36.57%	+25.70%
Max Drawdown (5Y) Largest decline over 5 years	-24.83%	-62.40%	+37.57%
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	-62.40%	+24.33%
Current Drawdown Current decline from peak	-0.67%	-25.53%	+24.86%
Average Drawdown Average peak-to-trough decline	-9.08%	-41.36%	+32.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	11.22%	-8.29%

Volatility

APHKX vs. NEM - Volatility Comparison

The current volatility for Artisan International Value Fund (APHKX) is 3.94%, while Newmont Corporation (NEM) has a volatility of 15.78%. This indicates that APHKX experiences smaller price fluctuations and is considered to be less risky than NEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APHKX	NEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	15.78%	-11.84%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	37.82%	-27.77%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	47.80%	-33.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	38.04%	-24.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	35.71%	-19.58%

Dividends

APHKX vs. NEM - Dividend Comparison

APHKX's dividend yield for the trailing twelve months is around 6.44%, more than NEM's 1.04% 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%
NEM Newmont Corporation	1.04%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%

Frequently Asked Questions

Can I hold both APHKX and NEM in my portfolio?

APHKX and NEM have a correlation of 0.37, 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 NEM?

NEM has higher volatility (15.78%) compared to APHKX (3.94%). In terms of maximum drawdown, APHKX dropped -56.33% vs NEM's -81.30%.

Which has better risk-adjusted returns?

APHKX currently has the higher Sharpe Ratio (1.77 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.