ARTQX vs. VMVAX

Last updated Jun 4, 2026

ARTQX (Artisan Mid Cap Value Fund) and VMVAX (Vanguard Mid-Cap Value Index Fund Admiral Shares) are both Mid Cap Value Equities funds. Over the past 10 years, ARTQX returned 6.90%/yr vs 10.56%/yr for VMVAX. Their correlation of 0.94 suggests significant overlap in exposure. ARTQX charges 1.21%/yr vs 0.07%/yr for VMVAX.

Performance

ARTQX vs. VMVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Mid Cap Value Fund (ARTQX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). 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 VMVAX's 10.95% return. Over the past 10 years, ARTQX has underperformed VMVAX with an annualized return of 6.90%, while VMVAX has yielded a comparatively higher 10.56% annualized 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%

VMVAX

• 1D: 0.86%
• 1M: 1.53%
• YTD: 10.95%
• 6M: 11.78%
• 1Y: 22.89%
• 3Y*: 16.59%
• 5Y*: 8.52%
• 10Y*: 10.56%

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

ARTQX vs. VMVAX - 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%	12.42%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	10.95%	12.06%	13.63%	10.12%	-7.89%	28.77%	2.45%	28.03%	-12.44%	17.04%

Correlation

The correlation between ARTQX and VMVAX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011	0.94

The correlation between ARTQX and VMVAX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

ARTQX vs. VMVAX — 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

VMVAX

VMVAX Risk / Return Rank: 58
VMVAX Sharpe Ratio Rank: 51
VMVAX Sortino Ratio Rank: 52
VMVAX Omega Ratio Rank: 46
VMVAX Calmar Ratio Rank: 76
VMVAX Martin Ratio Rank: 67

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. VMVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Mid Cap Value Fund (ARTQX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). 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	VMVAX	Difference
Sharpe ratio: Return per unit of total volatility	0.51	2.10	-1.59
Sortino ratio: Return per unit of downside risk	0.85	3.03	-2.18
Omega ratio: Gain probability vs. loss probability	1.10	1.37	-0.27
Calmar ratio: Return relative to maximum drawdown	0.67	3.44	-2.78
Martin ratio: Return relative to average drawdown	1.78	13.13	-11.36
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. VMVAX - Sharpe Ratio Comparison

The current ARTQX Sharpe Ratio is 0.51, which is lower than the VMVAX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of ARTQX and VMVAX, 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	VMVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	2.10	-1.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.53	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.56	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.70	-0.25

Drawdowns

ARTQX vs. VMVAX - Drawdown Comparison

The maximum ARTQX drawdown since its inception was -52.64%, which is greater than VMVAX's maximum drawdown of -43.07%. Use the drawdown chart below to compare losses from any high point for ARTQX and VMVAX.

Drawdown Indicators

	ARTQX	VMVAX	Difference
Max Drawdown Largest peak-to-trough decline	-52.64%	-43.07%	-9.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-6.95%	-4.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.80%	-18.40%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-19.75%	-2.13%
Max Drawdown (10Y) Largest decline over 10 years	-44.46%	-43.07%	-1.39%
Current Drawdown Current decline from peak	-4.25%	0.00%	-4.25%
Average Drawdown Average peak-to-trough decline	-7.16%	-4.37%	-2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	1.82%	+2.36%

Volatility

ARTQX vs. VMVAX - Volatility Comparison

Artisan Mid Cap Value Fund (ARTQX) has a higher volatility of 3.35% compared to Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) at 2.65%. This indicates that ARTQX's price experiences larger fluctuations and is considered to be riskier than VMVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTQX	VMVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	2.65%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	8.17%	+2.10%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	11.41%	+3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	16.02%	+4.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.49%	18.79%	+2.70%

ARTQX vs. VMVAX - Expense Ratio Comparison

ARTQX has a 1.21% expense ratio, which is higher than VMVAX's 0.07% expense ratio.

Dividends

ARTQX vs. VMVAX - Dividend Comparison

ARTQX's dividend yield for the trailing twelve months is around 7.20%, more than VMVAX's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	1.87%	2.10%	2.11%	2.26%	2.27%	1.78%	2.36%	2.08%	2.75%	1.86%	1.91%	2.04%

Frequently Asked Questions

Can I hold both ARTQX and VMVAX in my portfolio?

ARTQX and VMVAX have a correlation of 0.88, 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 VMVAX?

ARTQX has higher volatility (3.35%) compared to VMVAX (2.65%). In terms of maximum drawdown, ARTQX dropped -52.64% vs VMVAX's -43.07%.

Which has better risk-adjusted returns?

VMVAX currently has the higher Sharpe Ratio (2.10 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.