ARHBX vs. ARTYX

Last updated Jun 26, 2026

ARHBX (Artisan International Explorer Fund) and ARTYX (Artisan Developing World Fund) are both mutual funds - ARHBX is a Foreign Small & Mid Cap Equities fund managed by Artisan, while ARTYX is a Emerging Markets Diversified fund managed by Artisan. Over the past 3 years, ARHBX returned 18.04%/yr vs 11.14%/yr for ARTYX. A 0.60 correlation means they provide meaningful diversification when combined. ARHBX charges 1.35%/yr vs 1.28%/yr for ARTYX.

Performance

ARHBX vs. ARTYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Explorer Fund (ARHBX) and Artisan Developing World Fund (ARTYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARHBX achieves a 21.24% return, which is significantly higher than ARTYX's -5.59% return.

ARHBX

• 1D: 0.32%
• 1M: 0.25%
• YTD: 21.24%
• 6M: 21.06%
• 1Y: 23.10%
• 3Y*: 18.04%
• 5Y*: —
• 10Y*: —

ARTYX

• 1D: 0.51%
• 1M: 0.19%
• YTD: -5.59%
• 6M: -6.69%
• 1Y: -11.14%
• 3Y*: 11.14%
• 5Y*: -3.67%
• 10Y*: 10.78%

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

ARHBX vs. ARTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ARHBX Artisan International Explorer Fund	21.24%	18.32%	8.34%	20.65%	-2.64%
ARTYX Artisan Developing World Fund	-5.59%	7.82%	28.03%	29.51%	-6.24%

Correlation

The correlation between ARHBX and ARTYX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 16, 2022	0.60

The correlation between ARHBX and ARTYX has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.

Return for Risk

ARHBX vs. ARTYX — Risk / Return Rank

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

ARHBX

ARHBX Risk / Return Rank: 38
ARHBX Sharpe Ratio Rank: 34
ARHBX Sortino Ratio Rank: 34
ARHBX Omega Ratio Rank: 36
ARHBX Calmar Ratio Rank: 52
ARHBX Martin Ratio Rank: 35

ARTYX

ARTYX Risk / Return Rank: 1
ARTYX Sharpe Ratio Rank: 1
ARTYX Sortino Ratio Rank: 1
ARTYX Omega Ratio Rank: 1
ARTYX Calmar Ratio Rank: 1
ARTYX Martin Ratio Rank: 1

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.

ARHBX vs. ARTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Explorer Fund (ARHBX) and Artisan Developing World Fund (ARTYX). 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.

	ARHBX	ARTYX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	-0.62	+2.03
Sortino ratio: Return per unit of downside risk	2.04	-0.76	+2.80
Omega ratio: Gain probability vs. loss probability	1.26	0.91	+0.36
Calmar ratio: Return relative to maximum drawdown	2.40	-0.39	+2.79
Martin ratio: Return relative to average drawdown	6.77	-0.84	+7.61

ARHBX vs. ARTYX - Sharpe Ratio Comparison

The current ARHBX Sharpe Ratio is 1.41, which is higher than the ARTYX Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of ARHBX and ARTYX, 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

ARHBX vs. ARTYX - Drawdown Comparison

The maximum ARHBX drawdown since its inception was -18.10%, smaller than the maximum ARTYX drawdown of -59.61%. Use the drawdown chart below to compare losses from any high point for ARHBX and ARTYX.

Drawdown Indicators

	ARHBX	ARTYX	Difference
Max Drawdown Largest peak-to-trough decline	-18.10%	-59.61%	+41.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-29.14%	+19.63%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-29.14%	+14.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-56.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.61%	—
Current Drawdown Current decline from peak	-3.66%	-24.11%	+20.45%
Average Drawdown Average peak-to-trough decline	-3.52%	-18.55%	+15.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	13.59%	-10.23%

Volatility

ARHBX vs. ARTYX - Volatility Comparison

The current volatility for Artisan International Explorer Fund (ARHBX) is 8.17%, while Artisan Developing World Fund (ARTYX) has a volatility of 8.73%. This indicates that ARHBX experiences smaller price fluctuations and is considered to be less risky than ARTYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARHBX	ARTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	8.73%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	14.50%	15.61%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	18.50%	-2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.73%	27.38%	-12.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.73%	24.33%	-9.60%

ARHBX vs. ARTYX - Expense Ratio Comparison

ARHBX has a 1.35% expense ratio, which is higher than ARTYX's 1.28% expense ratio.

Dividends

ARHBX vs. ARTYX - Dividend Comparison

ARHBX's dividend yield for the trailing twelve months is around 6.14%, while ARTYX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ARHBX Artisan International Explorer Fund	6.14%	7.44%	4.86%	1.97%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ARTYX Artisan Developing World Fund	0.00%	0.00%	0.00%	0.00%	0.12%	9.44%	4.20%	0.00%	0.01%	3.37%	0.51%

Frequently Asked Questions

Can I hold both ARHBX and ARTYX in my portfolio?

ARHBX and ARTYX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARHBX or ARTYX?

ARTYX has higher volatility (8.73%) compared to ARHBX (8.17%). In terms of maximum drawdown, ARHBX dropped -18.10% vs ARTYX's -59.61%.

Which has better risk-adjusted returns?

ARHBX currently has the higher Sharpe Ratio (1.41 vs -0.62), 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.