ARTMX vs. VMGMX

Last updated Jun 24, 2026

ARTMX (Artisan Mid Cap Fund) and VMGMX (Vanguard Mid-Cap Growth Index Fund Admiral Shares) are both Mid Cap Growth Equities funds. Over the past 10 years, ARTMX returned 12.13%/yr vs 12.73%/yr for VMGMX. Their correlation of 0.94 suggests significant overlap in exposure. ARTMX charges 1.18%/yr vs 0.07%/yr for VMGMX.

Performance

ARTMX vs. VMGMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Mid Cap Fund (ARTMX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTMX achieves a 7.61% return, which is significantly lower than VMGMX's 10.13% return. Both investments have delivered pretty close results over the past 10 years, with ARTMX having a 12.13% annualized return and VMGMX not far ahead at 12.73%.

ARTMX

• 1D: 0.49%
• 1M: 4.26%
• YTD: 7.61%
• 6M: 5.89%
• 1Y: 19.40%
• 3Y*: 14.61%
• 5Y*: 2.14%
• 10Y*: 12.13%

VMGMX

• 1D: 0.24%
• 1M: 5.32%
• YTD: 10.13%
• 6M: 8.21%
• 1Y: 12.36%
• 3Y*: 16.49%
• 5Y*: 6.34%
• 10Y*: 12.73%

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

ARTMX vs. VMGMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTMX Artisan Mid Cap Fund	7.61%	14.92%	11.78%	23.99%	-36.82%	10.12%	58.62%	37.97%	-4.30%	20.61%
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	10.13%	10.69%	15.65%	23.93%	-28.84%	20.48%	34.45%	33.85%	-5.61%	21.83%

Correlation

The correlation between ARTMX and VMGMX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.94

The correlation between ARTMX and VMGMX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

ARTMX vs. VMGMX — Risk / Return Rank

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

ARTMX

ARTMX Risk / Return Rank: 21
ARTMX Sharpe Ratio Rank: 19
ARTMX Sortino Ratio Rank: 19
ARTMX Omega Ratio Rank: 17
ARTMX Calmar Ratio Rank: 21
ARTMX Martin Ratio Rank: 27

VMGMX

VMGMX Risk / Return Rank: 10
VMGMX Sharpe Ratio Rank: 10
VMGMX Sortino Ratio Rank: 10
VMGMX Omega Ratio Rank: 10
VMGMX Calmar Ratio Rank: 9
VMGMX Martin Ratio Rank: 9

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.

ARTMX vs. VMGMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Mid Cap Fund (ARTMX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX). 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.

	ARTMX	VMGMX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.79	+0.36
Sortino ratio: Return per unit of downside risk	1.69	1.19	+0.49
Omega ratio: Gain probability vs. loss probability	1.20	1.14	+0.06
Calmar ratio: Return relative to maximum drawdown	1.56	0.84	+0.72
Martin ratio: Return relative to average drawdown	5.97	2.50	+3.47

ARTMX vs. VMGMX - Sharpe Ratio Comparison

The current ARTMX Sharpe Ratio is 1.15, which is higher than the VMGMX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of ARTMX and VMGMX, 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

ARTMX vs. VMGMX - Drawdown Comparison

The maximum ARTMX drawdown since its inception was -57.80%, which is greater than VMGMX's maximum drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for ARTMX and VMGMX.

Drawdown Indicators

	ARTMX	VMGMX	Difference
Max Drawdown Largest peak-to-trough decline	-57.80%	-37.17%	-20.63%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-15.95%	+2.63%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-21.65%	-3.00%
Max Drawdown (5Y) Largest decline over 5 years	-43.73%	-37.17%	-6.56%
Max Drawdown (10Y) Largest decline over 10 years	-43.73%	-37.17%	-6.56%
Current Drawdown Current decline from peak	-0.84%	0.00%	-0.84%
Average Drawdown Average peak-to-trough decline	-11.98%	-7.00%	-4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	5.34%	-1.88%

Volatility

ARTMX vs. VMGMX - Volatility Comparison

Artisan Mid Cap Fund (ARTMX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) have volatilities of 6.68% and 6.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTMX	VMGMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	6.71%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	13.64%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.07%	16.93%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.22%	21.57%	+2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	21.07%	+1.54%

ARTMX vs. VMGMX - Expense Ratio Comparison

ARTMX has a 1.18% expense ratio, which is higher than VMGMX's 0.07% expense ratio.

Dividends

ARTMX vs. VMGMX - Dividend Comparison

ARTMX's dividend yield for the trailing twelve months is around 17.97%, more than VMGMX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTMX Artisan Mid Cap Fund	17.97%	19.33%	15.43%	0.00%	0.29%	19.29%	14.97%	12.88%	27.63%	14.97%	9.19%	16.40%
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	0.60%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.82%

Frequently Asked Questions

Can I hold both ARTMX and VMGMX in my portfolio?

With a correlation of 0.91, ARTMX and VMGMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ARTMX or VMGMX?

VMGMX has higher volatility (6.71%) compared to ARTMX (6.68%). In terms of maximum drawdown, ARTMX dropped -57.80% vs VMGMX's -37.17%.

Which has better risk-adjusted returns?

ARTMX currently has the higher Sharpe Ratio (1.15 vs 0.79), 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.