ARTJX vs. OAKEX

Last updated Jul 14, 2026

ARTJX (Artisan International Small-Mid Fund) and OAKEX (Oakmark International Small Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, ARTJX returned 7.46%/yr vs 7.95%/yr for OAKEX. A 0.77 correlation means they provide meaningful diversification when combined. ARTJX charges 1.28%/yr vs 1.34%/yr for OAKEX.

Performance

ARTJX vs. OAKEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan International Small-Mid Fund (ARTJX) and Oakmark International Small Cap Fund (OAKEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTJX achieves a 7.11% return, which is significantly higher than OAKEX's -1.73% return. Over the past 10 years, ARTJX has underperformed OAKEX with an annualized return of 7.46%, while OAKEX has yielded a comparatively higher 7.95% annualized return.

ARTJX

• 1D: -0.53%
• 1M: 3.90%
• 6M: 4.27%
• YTD: 7.11%
• 1Y: 12.54%
• 3Y*: 8.78%
• 5Y*: 0.70%
• 10Y*: 7.46%

OAKEX

• 1D: 0.94%
• 1M: -0.32%
• 6M: -2.71%
• YTD: -1.73%
• 1Y: -2.01%
• 3Y*: 9.77%
• 5Y*: 4.16%
• 10Y*: 7.95%

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

ARTJX vs. OAKEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTJX Artisan International Small-Mid Fund	7.11%	18.29%	-0.80%	11.03%	-23.77%	3.63%	33.00%	36.25%	-17.94%	33.50%
OAKEX Oakmark International Small Cap Fund	-1.73%	29.51%	-3.00%	19.59%	-14.50%	17.90%	5.00%	31.91%	-23.71%	26.03%

Correlation

The correlation between ARTJX and OAKEX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 21, 2001	0.77

The correlation between ARTJX and OAKEX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

ARTJX vs. OAKEX — Risk / Return Rank

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

ARTJX

ARTJX Risk / Return Rank: 16
ARTJX Sharpe Ratio Rank: 14
ARTJX Sortino Ratio Rank: 15
ARTJX Omega Ratio Rank: 13
ARTJX Calmar Ratio Rank: 17
ARTJX Martin Ratio Rank: 21

OAKEX

OAKEX Risk / Return Rank: 2
OAKEX Sharpe Ratio Rank: 2
OAKEX Sortino Ratio Rank: 2
OAKEX Omega Ratio Rank: 2
OAKEX Calmar Ratio Rank: 2
OAKEX Martin Ratio Rank: 2

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.

ARTJX vs. OAKEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan International Small-Mid Fund (ARTJX) and Oakmark International Small Cap Fund (OAKEX). 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.

	ARTJX	OAKEX	Difference
Sharpe ratio: Return per unit of total volatility	0.74	-0.19	+0.92
Sortino ratio: Return per unit of downside risk	1.17	-0.16	+1.33
Omega ratio: Gain probability vs. loss probability	1.14	0.98	+0.16
Calmar ratio: Return relative to maximum drawdown	1.10	-0.16	+1.26
Martin ratio: Return relative to average drawdown	3.79	-0.45	+4.24

ARTJX vs. OAKEX - Sharpe Ratio Comparison

The current ARTJX Sharpe Ratio is 0.74, which is higher than the OAKEX Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of ARTJX and OAKEX, 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

ARTJX vs. OAKEX - Drawdown Comparison

The maximum ARTJX drawdown since its inception was -64.43%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for ARTJX and OAKEX.

Drawdown Indicators

	ARTJX	OAKEX	Difference
Max Drawdown Largest peak-to-trough decline	-64.43%	-70.12%	+5.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-17.18%	+7.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.11%	-17.18%	-2.93%
Max Drawdown (5Y) Largest decline over 5 years	-37.04%	-38.40%	+1.36%
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	-49.61%	+12.57%
Current Drawdown Current decline from peak	-1.91%	-6.79%	+4.88%
Average Drawdown Average peak-to-trough decline	-13.21%	-13.47%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	6.22%	-3.30%

Volatility

ARTJX vs. OAKEX - Volatility Comparison

The current volatility for Artisan International Small-Mid Fund (ARTJX) is 4.53%, while Oakmark International Small Cap Fund (OAKEX) has a volatility of 4.83%. This indicates that ARTJX experiences smaller price fluctuations and is considered to be less risky than OAKEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTJX	OAKEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.83%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	12.18%	12.22%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	15.10%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	17.77%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.19%	18.29%	-1.10%

ARTJX vs. OAKEX - Expense Ratio Comparison

ARTJX has a 1.28% expense ratio, which is lower than OAKEX's 1.34% expense ratio.

Dividends

ARTJX vs. OAKEX - Dividend Comparison

ARTJX's dividend yield for the trailing twelve months is around 5.22%, less than OAKEX's 5.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTJX Artisan International Small-Mid Fund	5.22%	5.59%	0.57%	0.00%	0.03%	2.86%	0.54%	0.14%	73.24%	13.74%	6.05%	3.36%
OAKEX Oakmark International Small Cap Fund	5.34%	5.24%	6.38%	1.83%	1.89%	0.61%	1.87%	0.21%	8.93%	3.64%	3.09%	5.06%

Frequently Asked Questions

Can I hold both ARTJX and OAKEX in my portfolio?

ARTJX and OAKEX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARTJX or OAKEX?

OAKEX has higher volatility (4.83%) compared to ARTJX (4.53%). In terms of maximum drawdown, ARTJX dropped -64.43% vs OAKEX's -70.12%.

Which has better risk-adjusted returns?

ARTJX currently has the higher Sharpe Ratio (0.74 vs -0.19), 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.