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ARTSX vs. APFPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ARTSX vs. APFPX

Last updated Jun 24, 2026

ARTSX (Artisan Small Cap Fund) and APFPX (Artisan Global Unconstrained Fund) are both mutual funds - ARTSX is a Small Cap Growth Equities fund managed by Artisan, while APFPX is a Nontraditional Bonds fund managed by Artisan. Over the past 3 years, ARTSX returned 16.99%/yr vs 9.18%/yr for APFPX. At a correlation of -0.16, they often move in opposite directions. ARTSX charges 1.19%/yr vs 1.54%/yr for APFPX.

Performance

ARTSX vs. APFPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Small Cap Fund (ARTSX) and Artisan Global Unconstrained Fund (APFPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ARTSX achieves a 17.24% return, which is significantly higher than APFPX's 4.18% return.

ARTSX

1D
-0.36%
1M
5.96%
YTD
17.24%
6M
14.52%
1Y
33.69%
3Y*
16.99%
5Y*
1.88%
10Y*
12.85%

APFPX

1D
0.09%
1M
0.20%
YTD
4.18%
6M
4.50%
1Y
11.57%
3Y*
9.18%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ARTSX vs. APFPX - Yearly Performance Comparison

2026 (YTD)2025202420232022
ARTSX
Artisan Small Cap Fund		17.24%8.46%20.56%9.29%8.90%
APFPX
Artisan Global Unconstrained Fund		4.18%10.21%11.33%6.67%6.73%

Correlation

The correlation between ARTSX and APFPX is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.25

Correlation (3Y)
Calculated over the trailing 3-year period

-0.19

Correlation (All Time)
Calculated using the full available price history since May 17, 2022

-0.16

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Artisan Small Cap Fund

Artisan Global Unconstrained Fund

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Often compared with APFPX:
APFPX vs. RPIDXAPFPX vs. AFLIXAPFPX vs. APFDXAPFPX vs. DCAIXAPFPX vs. GMODXAPFPX vs. MWCIXAPFPX vs. FBND

Return for Risk

ARTSX vs. APFPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ARTSX
ARTSX Risk / Return Rank: 3737
Overall Rank
ARTSX Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
ARTSX Sortino Ratio Rank: 3434
Sortino Ratio Rank
ARTSX Omega Ratio Rank: 3030
Omega Ratio Rank
ARTSX Calmar Ratio Rank: 3939
Calmar Ratio Rank
ARTSX Martin Ratio Rank: 4848
Martin Ratio Rank
APFPX
APFPX Risk / Return Rank: 9999
Overall Rank
APFPX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
APFPX Sortino Ratio Rank: 9898
Sortino Ratio Rank
APFPX Omega Ratio Rank: 9898
Omega Ratio Rank
APFPX Calmar Ratio Rank: 9999
Calmar Ratio Rank
APFPX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

ARTSX vs. APFPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Small Cap Fund (ARTSX) and Artisan Global Unconstrained Fund (APFPX). 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.

ARTSXAPFPXDifference
Sharpe ratioReturn per unit of total volatility
1.55
4.69

-3.14

Sortino ratioReturn per unit of downside risk
2.25
6.88

-4.63

Omega ratioGain probability vs. loss probability

1.27

2.17

-0.90

Calmar ratioReturn relative to maximum drawdown

2.26

13.00

-10.75

Martin ratioReturn relative to average drawdown

9.41

56.36

-46.96

ARTSX vs. APFPX - Sharpe Ratio Comparison

The current ARTSX Sharpe Ratio is 1.55, which is lower than the APFPX Sharpe Ratio of 4.69. The chart below compares the historical Sharpe Ratios of ARTSX and APFPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ARTSX vs. APFPX - Drawdown Comparison

The maximum ARTSX drawdown since its inception was -62.77%, which is greater than APFPX's maximum drawdown of -2.10%. Use the drawdown chart below to compare losses from any high point for ARTSX and APFPX.

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Drawdown Indicators

ARTSXAPFPXDifference

Max Drawdown

Largest peak-to-trough decline

-62.77%

-2.10%

-60.67%

Max Drawdown (1Y)

Largest decline over 1 year

-15.44%

-0.90%

-14.54%

Max Drawdown (3Y)

Largest decline over 3 years

-25.88%

-2.02%

-23.86%

Max Drawdown (5Y)

Largest decline over 5 years

-47.88%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-51.51%

—

—

Current Drawdown

Current decline from peak

-4.56%

-0.16%

-4.40%

Average Drawdown

Average peak-to-trough decline

-14.70%

-0.25%

-14.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.69%

0.21%

+3.48%

Volatility

ARTSX vs. APFPX - Volatility Comparison

Artisan Small Cap Fund (ARTSX) has a higher volatility of 8.19% compared to Artisan Global Unconstrained Fund (APFPX) at 0.54%. This indicates that ARTSX's price experiences larger fluctuations and is considered to be riskier than APFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ARTSXAPFPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.19%

0.54%

+7.65%

Volatility (6M)

Calculated over the trailing 6-month period

18.67%

2.12%

+16.55%

Volatility (1Y)

Calculated over the trailing 1-year period

22.53%

2.50%

+20.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.56%

2.75%

+24.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.62%

2.75%

+22.87%

ARTSX vs. APFPX - Expense Ratio Comparison

ARTSX has a 1.19% expense ratio, which is lower than APFPX's 1.54% expense ratio.

Dividends

ARTSX vs. APFPX - Dividend Comparison

ARTSX's dividend yield for the trailing twelve months is around 7.03%, more than APFPX's 4.58% yield.

PositionTTM20252024202320222021202020192018201720162015
APFPX
Artisan Global Unconstrained Fund		4.58%4.01%6.18%6.89%8.60%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ARTSX
Artisan Small Cap Fund		7.03%8.24%10.40%0.00%0.26%12.11%5.26%7.83%20.83%16.26%1.18%10.12%

Frequently Asked Questions

ARTSX and APFPX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ARTSX has higher volatility (8.19%) compared to APFPX (0.54%). In terms of maximum drawdown, ARTSX dropped -62.77% vs APFPX's -2.10%.

APFPX currently has the higher Sharpe Ratio (4.69 vs 1.55), 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.

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