ARTFX vs. USHY
ARTFX (Artisan High Income Fund) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. Over the past 5 years, ARTFX returned 3.58%/yr vs 4.24%/yr for USHY. A 0.56 correlation means they provide meaningful diversification when combined. ARTFX charges 0.96%/yr vs 0.15%/yr for USHY.
Performance
ARTFX vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, ARTFX achieves a 1.00% return, which is significantly lower than USHY's 1.42% return.
ARTFX
- 1D
- 0.11%
- 1M
- 0.59%
- YTD
- 1.00%
- 6M
- 1.58%
- 1Y
- 5.42%
- 3Y*
- 8.47%
- 5Y*
- 3.58%
- 10Y*
- 5.95%
USHY
- 1D
- -0.27%
- 1M
- 0.40%
- YTD
- 1.42%
- 6M
- 1.77%
- 1Y
- 7.02%
- 3Y*
- 8.91%
- 5Y*
- 4.24%
- 10Y*
- —
ARTFX vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARTFX Artisan High Income Fund | 1.00% | 8.02% | 7.76% | 13.61% | -10.66% | 3.79% | 9.45% | 14.04% | -1.66% | 0.77% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.42% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between ARTFX and USHY is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.56 |
The correlation between ARTFX and USHY has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
ARTFX vs. USHY — Risk / Return Rank
ARTFX
USHY
ARTFX vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund (ARTFX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| ARTFX | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.90 | -0.79 |
| Martin ratioReturn relative to average drawdown | 9.43 | 13.03 | -3.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARTFX | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 1.93 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.58 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.58 | +0.48 |
Drawdowns
ARTFX vs. USHY - Drawdown Comparison
The maximum ARTFX drawdown since its inception was -21.42%, roughly equal to the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for ARTFX and USHY.
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Drawdown Indicators
| ARTFX | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.42% | -22.44% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -2.43% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -3.42% | -4.66% | +1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -14.62% | -15.56% | +0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -21.42% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.27% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -2.67% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.54% | +0.05% |
Volatility
ARTFX vs. USHY - Volatility Comparison
The current volatility for Artisan High Income Fund (ARTFX) is 0.99%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 1.13%. This indicates that ARTFX experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARTFX | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.13% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 2.91% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 3.65% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 7.34% | -2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 8.25% | -3.05% |
ARTFX vs. USHY - Expense Ratio Comparison
ARTFX has a 0.96% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
ARTFX vs. USHY - Dividend Comparison
ARTFX's dividend yield for the trailing twelve months is around 6.90%, which matches USHY's 6.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARTFX Artisan High Income Fund | 6.90% | 6.71% | 6.52% | 5.43% | 6.23% | 5.21% | 5.33% | 6.15% | 6.99% | 7.75% | 6.53% | 7.28% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.92% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
ARTFX and USHY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USHY has higher volatility (1.13%) compared to ARTFX (0.99%). In terms of maximum drawdown, ARTFX dropped -21.42% vs USHY's -22.44%.
USHY currently has the higher Sharpe Ratio (1.93 vs 1.92), 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.
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