ARTFX vs. AZNIX

Last updated Jun 24, 2026

ARTFX (Artisan High Income Fund) and AZNIX (Virtus Income & Growth Fund) are both mutual funds - ARTFX is a High Yield Bonds fund managed by Artisan, while AZNIX is a Diversified Portfolio fund managed by Allianz. Over the past 10 years, ARTFX returned 5.98%/yr vs 9.73%/yr for AZNIX. A 0.52 correlation means they provide meaningful diversification when combined. ARTFX charges 0.96%/yr vs 0.92%/yr for AZNIX.

Performance

ARTFX vs. AZNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan High Income Fund (ARTFX) and Virtus Income & Growth Fund (AZNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTFX achieves a 0.88% return, which is significantly lower than AZNIX's 10.20% return. Over the past 10 years, ARTFX has underperformed AZNIX with an annualized return of 5.98%, while AZNIX has yielded a comparatively higher 9.73% annualized return.

ARTFX

• 1D: 0.00%
• 1M: 0.70%
• YTD: 0.88%
• 6M: 1.47%
• 1Y: 5.19%
• 3Y*: 8.43%
• 5Y*: 3.49%
• 10Y*: 5.98%

AZNIX

• 1D: -0.08%
• 1M: 1.79%
• YTD: 10.20%
• 6M: 9.49%
• 1Y: 19.91%
• 3Y*: 14.24%
• 5Y*: 6.67%
• 10Y*: 9.73%

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

ARTFX vs. AZNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTFX Artisan High Income Fund	0.88%	8.02%	7.76%	13.61%	-10.66%	3.79%	9.45%	14.04%	-1.66%	8.84%
AZNIX Virtus Income & Growth Fund	10.20%	11.97%	11.24%	18.99%	-19.58%	11.81%	23.37%	20.81%	-5.56%	13.05%

Correlation

The correlation between ARTFX and AZNIX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 21, 2014	0.52

The correlation between ARTFX and AZNIX has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.

Return for Risk

ARTFX vs. AZNIX — Risk / Return Rank

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

ARTFX

ARTFX Risk / Return Rank: 54
ARTFX Sharpe Ratio Rank: 46
ARTFX Sortino Ratio Rank: 78
ARTFX Omega Ratio Rank: 69
ARTFX Calmar Ratio Rank: 32
ARTFX Martin Ratio Rank: 46

AZNIX

AZNIX Risk / Return Rank: 73
AZNIX Sharpe Ratio Rank: 69
AZNIX Sortino Ratio Rank: 64
AZNIX Omega Ratio Rank: 66
AZNIX Calmar Ratio Rank: 78
AZNIX Martin Ratio Rank: 88

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.

ARTFX vs. AZNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund (ARTFX) and Virtus Income & Growth Fund (AZNIX). 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.

	ARTFX	AZNIX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.23	-0.39
Sortino ratio: Return per unit of downside risk	3.39	3.06	+0.34
Omega ratio: Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio: Return relative to maximum drawdown	2.02	3.35	-1.33
Martin ratio: Return relative to average drawdown	9.01	15.70	-6.68

ARTFX vs. AZNIX - Sharpe Ratio Comparison

The current ARTFX Sharpe Ratio is 1.83, which is comparable to the AZNIX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of ARTFX and AZNIX, 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

ARTFX vs. AZNIX - Drawdown Comparison

The maximum ARTFX drawdown since its inception was -21.42%, smaller than the maximum AZNIX drawdown of -45.11%. Use the drawdown chart below to compare losses from any high point for ARTFX and AZNIX.

Drawdown Indicators

	ARTFX	AZNIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.42%	-45.11%	+23.69%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	-6.16%	+3.51%
Max Drawdown (3Y) Largest decline over 3 years	-3.42%	-10.59%	+7.17%
Max Drawdown (5Y) Largest decline over 5 years	-14.62%	-23.92%	+9.30%
Max Drawdown (10Y) Largest decline over 10 years	-21.42%	-26.24%	+4.82%
Current Drawdown Current decline from peak	-0.22%	-0.21%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.20%	-5.89%	+3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	1.31%	-0.72%

Volatility

ARTFX vs. AZNIX - Volatility Comparison

The current volatility for Artisan High Income Fund (ARTFX) is 0.78%, while Virtus Income & Growth Fund (AZNIX) has a volatility of 3.72%. This indicates that ARTFX experiences smaller price fluctuations and is considered to be less risky than AZNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTFX	AZNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	3.72%	-2.94%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	7.80%	-5.45%
Volatility (1Y) Calculated over the trailing 1-year period	2.92%	9.28%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.86%	10.83%	-5.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.19%	11.44%	-6.25%

ARTFX vs. AZNIX - Expense Ratio Comparison

ARTFX has a 0.96% expense ratio, which is higher than AZNIX's 0.92% expense ratio.

Dividends

ARTFX vs. AZNIX - Dividend Comparison

ARTFX's dividend yield for the trailing twelve months is around 6.91%, more than AZNIX's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTFX Artisan High Income Fund	6.91%	6.71%	6.52%	5.43%	6.23%	5.21%	5.33%	6.15%	6.99%	7.75%	6.53%	7.28%
AZNIX Virtus Income & Growth Fund	6.57%	7.00%	7.29%	7.49%	8.26%	6.21%	6.59%	8.18%	7.22%	7.82%	8.94%	9.33%

Frequently Asked Questions

Can I hold both ARTFX and AZNIX in my portfolio?

ARTFX and AZNIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARTFX or AZNIX?

AZNIX has higher volatility (3.72%) compared to ARTFX (0.78%). In terms of maximum drawdown, ARTFX dropped -21.42% vs AZNIX's -45.11%.

Which has better risk-adjusted returns?

AZNIX currently has the higher Sharpe Ratio (2.23 vs 1.83), 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.