ARTQX vs. APFDX

Last updated Jun 4, 2026

ARTQX (Artisan Mid Cap Value Fund) and APFDX (Artisan Global Discovery Fund) are both mutual funds - ARTQX is a Mid Cap Value Equities fund managed by Artisan, while APFDX is a Global Equities fund managed by Artisan. Over the past 5 years, ARTQX returned 2.76%/yr vs 4.38%/yr for APFDX. A 0.71 correlation means they provide meaningful diversification when combined. ARTQX charges 1.21%/yr vs 1.38%/yr for APFDX.

Performance

ARTQX vs. APFDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Mid Cap Value Fund (ARTQX) and Artisan Global Discovery Fund (APFDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTQX achieves a 0.74% return, which is significantly lower than APFDX's 4.43% return.

ARTQX

• 1D: 0.07%
• 1M: 1.71%
• YTD: 0.74%
• 6M: 1.15%
• 1Y: 5.62%
• 3Y*: 6.48%
• 5Y*: 2.76%
• 10Y*: 6.90%

APFDX

• 1D: 0.79%
• 1M: 3.69%
• YTD: 4.43%
• 6M: 3.51%
• 1Y: 12.52%
• 3Y*: 14.11%
• 5Y*: 4.38%
• 10Y*: —

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

ARTQX vs. APFDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTQX Artisan Mid Cap Value Fund	0.74%	1.88%	4.47%	18.32%	-12.93%	26.44%	5.49%	23.46%	-13.87%	8.86%
APFDX Artisan Global Discovery Fund	4.43%	12.07%	16.11%	20.66%	-31.14%	12.04%	45.70%	42.57%	-2.58%	4.94%

Correlation

The correlation between ARTQX and APFDX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 11, 2017	0.71

The correlation between ARTQX and APFDX has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

Return for Risk

ARTQX vs. APFDX — Risk / Return Rank

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

ARTQX

ARTQX Risk / Return Rank: 6
ARTQX Sharpe Ratio Rank: 6
ARTQX Sortino Ratio Rank: 6
ARTQX Omega Ratio Rank: 6
ARTQX Calmar Ratio Rank: 7
ARTQX Martin Ratio Rank: 6

APFDX

APFDX Risk / Return Rank: 11
APFDX Sharpe Ratio Rank: 10
APFDX Sortino Ratio Rank: 11
APFDX Omega Ratio Rank: 10
APFDX Calmar Ratio Rank: 10
APFDX Martin Ratio Rank: 14

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.

ARTQX vs. APFDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Mid Cap Value Fund (ARTQX) and Artisan Global Discovery Fund (APFDX). 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.

	ARTQX	APFDX	Difference
Sharpe ratio: Return per unit of total volatility	0.51	0.80	-0.29
Sortino ratio: Return per unit of downside risk	0.85	1.28	-0.43
Omega ratio: Gain probability vs. loss probability	1.10	1.15	-0.05
Calmar ratio: Return relative to maximum drawdown	0.67	0.99	-0.32
Martin ratio: Return relative to average drawdown	1.78	3.96	-2.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARTQX vs. APFDX - Sharpe Ratio Comparison

The current ARTQX Sharpe Ratio is 0.51, which is lower than the APFDX Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of ARTQX and APFDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARTQX	APFDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	0.80	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.21	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.59	-0.14

Drawdowns

ARTQX vs. APFDX - Drawdown Comparison

The maximum ARTQX drawdown since its inception was -52.64%, which is greater than APFDX's maximum drawdown of -40.83%. Use the drawdown chart below to compare losses from any high point for ARTQX and APFDX.

Drawdown Indicators

	ARTQX	APFDX	Difference
Max Drawdown Largest peak-to-trough decline	-52.64%	-40.83%	-11.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-13.18%	+2.03%
Max Drawdown (3Y) Largest decline over 3 years	-18.80%	-21.19%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-40.83%	+18.95%
Max Drawdown (10Y) Largest decline over 10 years	-44.46%	—	—
Current Drawdown Current decline from peak	-4.25%	-0.68%	-3.57%
Average Drawdown Average peak-to-trough decline	-7.16%	-10.73%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	3.28%	+0.90%

Volatility

ARTQX vs. APFDX - Volatility Comparison

The current volatility for Artisan Mid Cap Value Fund (ARTQX) is 3.35%, while Artisan Global Discovery Fund (APFDX) has a volatility of 5.62%. This indicates that ARTQX experiences smaller price fluctuations and is considered to be less risky than APFDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTQX	APFDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	5.62%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	13.64%	-3.37%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	16.38%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	20.57%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.49%	20.47%	+1.02%

ARTQX vs. APFDX - Expense Ratio Comparison

ARTQX has a 1.21% expense ratio, which is lower than APFDX's 1.38% expense ratio.

Dividends

ARTQX vs. APFDX - Dividend Comparison

ARTQX's dividend yield for the trailing twelve months is around 7.20%, less than APFDX's 18.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFDX Artisan Global Discovery Fund	18.79%	19.63%	0.87%	0.00%	0.00%	7.91%	1.88%	0.00%	0.51%	0.62%	0.00%	0.00%
ARTQX Artisan Mid Cap Value Fund	7.20%	7.26%	4.20%	17.42%	21.33%	14.18%	1.86%	10.51%	17.37%	10.12%	2.68%	19.38%

Frequently Asked Questions

Can I hold both ARTQX and APFDX in my portfolio?

ARTQX and APFDX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARTQX or APFDX?

APFDX has higher volatility (5.62%) compared to ARTQX (3.35%). In terms of maximum drawdown, ARTQX dropped -52.64% vs APFDX's -40.83%.

Which has better risk-adjusted returns?

APFDX currently has the higher Sharpe Ratio (0.80 vs 0.51), 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.