ARTGX vs. APDSX

Last updated Jul 14, 2026

ARTGX (Artisan Global Value Fund) and APDSX (Artisan Small Cap Fund Advisor Shares) are both mutual funds - ARTGX is a Global Equities fund managed by Artisan, while APDSX is a Small Cap Growth Equities fund managed by Artisan. Over the past 5 years, ARTGX returned 12.76%/yr vs 1.81%/yr for APDSX. A 0.66 correlation means they provide meaningful diversification when combined. ARTGX charges 1.25%/yr vs 1.06%/yr for APDSX.

Performance

ARTGX vs. APDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Global Value Fund (ARTGX) and Artisan Small Cap Fund Advisor Shares (APDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTGX achieves a 11.96% return, which is significantly lower than APDSX's 17.57% return.

ARTGX

• 1D: 0.61%
• 1M: 2.64%
• 6M: 8.34%
• YTD: 11.96%
• 1Y: 27.18%
• 3Y*: 21.90%
• 5Y*: 12.76%
• 10Y*: 12.16%

APDSX

• 1D: -1.24%
• 1M: 3.03%
• 6M: 10.05%
• YTD: 17.57%
• 1Y: 32.03%
• 3Y*: 15.67%
• 5Y*: 1.81%
• 10Y*: —

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

ARTGX vs. APDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTGX Artisan Global Value Fund	11.96%	34.03%	10.66%	26.57%	-13.56%	15.60%	6.48%	23.78%	-13.09%	19.02%
APDSX Artisan Small Cap Fund Advisor Shares	17.57%	8.61%	20.61%	9.51%	-29.36%	-8.92%	61.14%	40.22%	2.10%	19.72%

Correlation

The correlation between ARTGX and APDSX 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	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 3, 2017	0.66

The correlation between ARTGX and APDSX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

ARTGX vs. APDSX — Risk / Return Rank

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

ARTGX

ARTGX Risk / Return Rank: 78
ARTGX Sharpe Ratio Rank: 83
ARTGX Sortino Ratio Rank: 83
ARTGX Omega Ratio Rank: 79
ARTGX Calmar Ratio Rank: 70
ARTGX Martin Ratio Rank: 77

APDSX

APDSX Risk / Return Rank: 41
APDSX Sharpe Ratio Rank: 37
APDSX Sortino Ratio Rank: 39
APDSX Omega Ratio Rank: 35
APDSX Calmar Ratio Rank: 43
APDSX Martin Ratio Rank: 52

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.

ARTGX vs. APDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Global Value Fund (ARTGX) and Artisan Small Cap Fund Advisor Shares (APDSX). 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.

	ARTGX	APDSX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.34	+0.84
Sortino ratio: Return per unit of downside risk	3.14	1.99	+1.15
Omega ratio: Gain probability vs. loss probability	1.39	1.24	+0.15
Calmar ratio: Return relative to maximum drawdown	2.58	2.01	+0.57
Martin ratio: Return relative to average drawdown	10.90	8.32	+2.58

ARTGX vs. APDSX - Sharpe Ratio Comparison

The current ARTGX Sharpe Ratio is 2.19, which is higher than the APDSX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of ARTGX and APDSX, 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

ARTGX vs. APDSX - Drawdown Comparison

The maximum ARTGX drawdown since its inception was -49.92%, roughly equal to the maximum APDSX drawdown of -51.43%. Use the drawdown chart below to compare losses from any high point for ARTGX and APDSX.

Drawdown Indicators

	ARTGX	APDSX	Difference
Max Drawdown Largest peak-to-trough decline	-49.92%	-51.43%	+1.51%
Max Drawdown (1Y) Largest decline over 1 year	-10.18%	-15.39%	+5.21%
Max Drawdown (3Y) Largest decline over 3 years	-10.70%	-25.85%	+15.15%
Max Drawdown (5Y) Largest decline over 5 years	-26.74%	-47.85%	+21.11%
Max Drawdown (10Y) Largest decline over 10 years	-39.90%	—	—
Current Drawdown Current decline from peak	-0.66%	-4.16%	+3.50%
Average Drawdown Average peak-to-trough decline	-6.52%	-18.10%	+11.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.71%	-1.30%

Volatility

ARTGX vs. APDSX - Volatility Comparison

The current volatility for Artisan Global Value Fund (ARTGX) is 3.69%, while Artisan Small Cap Fund Advisor Shares (APDSX) has a volatility of 8.13%. This indicates that ARTGX experiences smaller price fluctuations and is considered to be less risky than APDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTGX	APDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	8.13%	-4.44%
Volatility (6M) Calculated over the trailing 6-month period	9.79%	19.03%	-9.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.03%	23.03%	-11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	27.63%	-13.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	26.16%	-9.07%

ARTGX vs. APDSX - Expense Ratio Comparison

ARTGX has a 1.25% expense ratio, which is higher than APDSX's 1.06% expense ratio.

Dividends

ARTGX vs. APDSX - Dividend Comparison

ARTGX's dividend yield for the trailing twelve months is around 4.09%, less than APDSX's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APDSX Artisan Small Cap Fund Advisor Shares	6.91%	8.12%	10.28%	0.00%	0.35%	12.00%	5.23%	7.80%	20.77%	16.23%	0.00%	0.00%
ARTGX Artisan Global Value Fund	4.09%	4.58%	5.38%	2.87%	3.68%	9.38%	0.05%	1.29%	6.35%	2.01%	2.66%	5.95%

Frequently Asked Questions

Can I hold both ARTGX and APDSX in my portfolio?

ARTGX and APDSX 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.

Which is riskier, ARTGX or APDSX?

APDSX has higher volatility (8.13%) compared to ARTGX (3.69%). In terms of maximum drawdown, ARTGX dropped -49.92% vs APDSX's -51.43%.

Which has better risk-adjusted returns?

ARTGX currently has the higher Sharpe Ratio (2.19 vs 1.34), 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.