ARTLX vs. FXAIX

Last updated Jun 23, 2026

ARTLX (Artisan Value Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - ARTLX is a Large Cap Value Equities fund managed by Artisan, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ARTLX returned 11.49%/yr vs 15.58%/yr for FXAIX. Their correlation of 0.86 suggests significant overlap in exposure. ARTLX charges 1.05%/yr vs 0.02%/yr for FXAIX.

Performance

ARTLX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Value Fund (ARTLX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTLX achieves a 3.54% return, which is significantly lower than FXAIX's 10.19% return. Over the past 10 years, ARTLX has underperformed FXAIX with an annualized return of 11.49%, while FXAIX has yielded a comparatively higher 15.58% annualized return.

ARTLX

• 1D: -0.13%
• 1M: -1.65%
• YTD: 3.54%
• 6M: 3.18%
• 1Y: 13.02%
• 3Y*: 13.04%
• 5Y*: 9.63%
• 10Y*: 11.49%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

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

ARTLX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTLX Artisan Value Fund	3.54%	14.48%	12.11%	24.27%	-8.73%	23.25%	10.85%	30.27%	-15.23%	16.06%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between ARTLX and FXAIX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.86

The correlation between ARTLX and FXAIX shifts across timeframes, from 0.69 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ARTLX vs. FXAIX — Risk / Return Rank

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

ARTLX

ARTLX Risk / Return Rank: 18
ARTLX Sharpe Ratio Rank: 17
ARTLX Sortino Ratio Rank: 17
ARTLX Omega Ratio Rank: 17
ARTLX Calmar Ratio Rank: 17
ARTLX Martin Ratio Rank: 19

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

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.

ARTLX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Value Fund (ARTLX) and Fidelity 500 Index Fund (FXAIX). 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.

	ARTLX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.17	-1.06
Sortino ratio: Return per unit of downside risk	1.61	2.93	-1.31
Omega ratio: Gain probability vs. loss probability	1.20	1.39	-0.20
Calmar ratio: Return relative to maximum drawdown	1.40	3.04	-1.64
Martin ratio: Return relative to average drawdown	4.62	13.75	-9.13

ARTLX vs. FXAIX - Sharpe Ratio Comparison

The current ARTLX Sharpe Ratio is 1.10, which is lower than the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ARTLX and FXAIX, 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

ARTLX vs. FXAIX - Drawdown Comparison

The maximum ARTLX drawdown since its inception was -57.91%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for ARTLX and FXAIX.

Drawdown Indicators

	ARTLX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.91%	-33.79%	-24.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.35%	-8.89%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-13.28%	-18.76%	+5.48%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-24.50%	+1.61%
Max Drawdown (10Y) Largest decline over 10 years	-39.03%	-33.79%	-5.24%
Current Drawdown Current decline from peak	-2.04%	-1.36%	-0.68%
Average Drawdown Average peak-to-trough decline	-8.32%	-3.79%	-4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	1.96%	+0.86%

Volatility

ARTLX vs. FXAIX - Volatility Comparison

The current volatility for Artisan Value Fund (ARTLX) is 3.46%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.77%. This indicates that ARTLX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTLX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	4.77%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	9.91%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	12.47%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	17.01%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	18.11%	-0.05%

ARTLX vs. FXAIX - Expense Ratio Comparison

ARTLX has a 1.05% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

ARTLX vs. FXAIX - Dividend Comparison

ARTLX's dividend yield for the trailing twelve months is around 13.37%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTLX Artisan Value Fund	13.37%	13.85%	7.59%	5.10%	17.75%	12.97%	7.57%	3.99%	16.44%	10.00%	0.62%	10.74%
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both ARTLX and FXAIX in my portfolio?

ARTLX and FXAIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARTLX or FXAIX?

FXAIX has higher volatility (4.77%) compared to ARTLX (3.46%). In terms of maximum drawdown, ARTLX dropped -57.91% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.17 vs 1.10), 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.