ARTYX vs. FNDF

Last updated Jun 24, 2026

ARTYX (Artisan Developing World Fund) and FNDF (Schwab Fundamental International Equity ETF) are both funds - ARTYX is a Emerging Markets Diversified fund managed by Artisan, while FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Over the past 10 years, ARTYX returned 11.02%/yr vs 12.17%/yr for FNDF. A 0.64 correlation means they provide meaningful diversification when combined. ARTYX charges 1.28%/yr vs 0.25%/yr for FNDF.

Performance

ARTYX vs. FNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Developing World Fund (ARTYX) and Schwab Fundamental International Equity ETF (FNDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARTYX achieves a -3.45% return, which is significantly lower than FNDF's 16.43% return. Over the past 10 years, ARTYX has underperformed FNDF with an annualized return of 11.02%, while FNDF has yielded a comparatively higher 12.17% annualized return.

ARTYX

• 1D: -0.54%
• 1M: 3.75%
• YTD: -3.45%
• 6M: -4.70%
• 1Y: -7.45%
• 3Y*: 11.97%
• 5Y*: -2.81%
• 10Y*: 11.02%

FNDF

• 1D: -2.61%
• 1M: -1.37%
• YTD: 16.43%
• 6M: 16.74%
• 1Y: 39.04%
• 3Y*: 22.45%
• 5Y*: 12.99%
• 10Y*: 12.17%

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

ARTYX vs. FNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARTYX Artisan Developing World Fund	-3.45%	7.82%	28.03%	29.51%	-41.35%	-9.97%	81.24%	41.67%	-15.68%	35.10%
FNDF Schwab Fundamental International Equity ETF	16.43%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%

Correlation

The correlation between ARTYX and FNDF is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.64

The correlation between ARTYX and FNDF has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.

Return for Risk

ARTYX vs. FNDF — Risk / Return Rank

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

ARTYX

ARTYX Risk / Return Rank: 2
ARTYX Sharpe Ratio Rank: 1
ARTYX Sortino Ratio Rank: 1
ARTYX Omega Ratio Rank: 1
ARTYX Calmar Ratio Rank: 2
ARTYX Martin Ratio Rank: 2

FNDF

FNDF Risk / Return Rank: 76
FNDF Sharpe Ratio Rank: 80
FNDF Sortino Ratio Rank: 74
FNDF Omega Ratio Rank: 78
FNDF Calmar Ratio Rank: 75
FNDF Martin Ratio Rank: 75

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.

ARTYX vs. FNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Developing World Fund (ARTYX) and Schwab Fundamental International Equity ETF (FNDF). 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.

	ARTYX	FNDF	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	2.43	-2.79
Sortino ratio: Return per unit of downside risk	-0.39	3.16	-3.55
Omega ratio: Gain probability vs. loss probability	0.95	1.44	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.23	3.70	-3.93
Martin ratio: Return relative to average drawdown	-0.49	13.74	-14.23

ARTYX vs. FNDF - Sharpe Ratio Comparison

The current ARTYX Sharpe Ratio is -0.36, which is lower than the FNDF Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of ARTYX and FNDF, 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

ARTYX vs. FNDF - Drawdown Comparison

The maximum ARTYX drawdown since its inception was -59.61%, which is greater than FNDF's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for ARTYX and FNDF.

Drawdown Indicators

	ARTYX	FNDF	Difference
Max Drawdown Largest peak-to-trough decline	-59.61%	-40.14%	-19.47%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-10.60%	-18.54%
Max Drawdown (3Y) Largest decline over 3 years	-29.14%	-13.89%	-15.25%
Max Drawdown (5Y) Largest decline over 5 years	-56.15%	-25.56%	-30.59%
Max Drawdown (10Y) Largest decline over 10 years	-59.61%	-40.14%	-19.47%
Current Drawdown Current decline from peak	-22.39%	-4.59%	-17.80%
Average Drawdown Average peak-to-trough decline	-18.54%	-7.62%	-10.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.51%	2.85%	+10.66%

Volatility

ARTYX vs. FNDF - Volatility Comparison

Artisan Developing World Fund (ARTYX) has a higher volatility of 8.24% compared to Schwab Fundamental International Equity ETF (FNDF) at 6.77%. This indicates that ARTYX's price experiences larger fluctuations and is considered to be riskier than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARTYX	FNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	6.77%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	15.46%	13.93%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	18.35%	16.16%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.37%	16.36%	+11.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.35%	17.47%	+6.88%

ARTYX vs. FNDF - Expense Ratio Comparison

ARTYX has a 1.28% expense ratio, which is higher than FNDF's 0.25% expense ratio.

Dividends

ARTYX vs. FNDF - Dividend Comparison

ARTYX has not paid dividends to shareholders, while FNDF's dividend yield for the trailing twelve months is around 2.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTYX Artisan Developing World Fund	0.00%	0.00%	0.00%	0.00%	0.12%	9.44%	4.20%	0.00%	0.01%	3.37%	0.51%	0.00%
FNDF Schwab Fundamental International Equity ETF	2.95%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%

Frequently Asked Questions

Can I hold both ARTYX and FNDF in my portfolio?

ARTYX and FNDF have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARTYX or FNDF?

ARTYX has higher volatility (8.24%) compared to FNDF (6.77%). In terms of maximum drawdown, ARTYX dropped -59.61% vs FNDF's -40.14%.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.43 vs -0.36), 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.