AWPAX vs. APHIX

Last updated Aug 1, 2026

AWPAX (AB Sustainable International Thematic Fund) and APHIX (Artisan International Fund Institutional Class) are both Foreign Large Cap Equities funds. Over the past 10 years, AWPAX returned 5.96%/yr vs 10.27%/yr for APHIX. Their correlation of 0.88 means they have usually moved in the same direction. AWPAX charges 1.03%/yr vs 0.96%/yr for APHIX.

Performance

AWPAX vs. APHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Sustainable International Thematic Fund (AWPAX) and Artisan International Fund Institutional Class (APHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWPAX achieves a 2.80% return, which is significantly lower than APHIX's 15.20% return. Over the past 10 years, AWPAX has underperformed APHIX with an annualized return of 5.96%, while APHIX has yielded a comparatively higher 10.27% annualized return.

AWPAX

• 1D: 3.09%
• 1M: -1.21%
• 6M: -0.68%
• YTD: 2.80%
• 1Y: 6.33%
• 3Y*: 5.43%
• 5Y*: -0.06%
• 10Y*: 5.96%
• ALL TIME*: 6.19%

APHIX

• 1D: 1.73%
• 1M: -0.46%
• 6M: 5.51%
• YTD: 15.20%
• 1Y: 24.01%
• 3Y*: 21.72%
• 5Y*: 10.28%
• 10Y*: 10.27%
• ALL TIME*: 6.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APHIX Artisan International Fund Institutional Class	$0.00	$0.00	$0.00
AWPAX AB Sustainable International Thematic Fund	$0.00	$0.00	$0.00

AWPAX vs. APHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWPAX AB Sustainable International Thematic Fund	2.80%	13.57%	-0.32%	13.09%	-26.80%	9.20%	29.55%	26.88%	-17.50%	34.46%
APHIX Artisan International Fund Institutional Class	15.20%	36.49%	10.89%	14.52%	-19.35%	9.10%	7.84%	29.43%	-10.81%	31.25%

Correlation

The correlation between AWPAX and APHIX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997	0.88

The correlation between AWPAX and APHIX shifts across timeframes, from 0.70 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AWPAX vs. APHIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AWPAX

AWPAX Risk / Return Rank: 9
AWPAX Sharpe Ratio Rank: 8
AWPAX Sortino Ratio Rank: 8
AWPAX Omega Ratio Rank: 8
AWPAX Calmar Ratio Rank: 9
AWPAX Martin Ratio Rank: 10

APHIX

APHIX Risk / Return Rank: 59
APHIX Sharpe Ratio Rank: 59
APHIX Sortino Ratio Rank: 61
APHIX Omega Ratio Rank: 58
APHIX Calmar Ratio Rank: 70
APHIX Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AWPAX vs. APHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Sustainable International Thematic Fund (AWPAX) and Artisan International Fund Institutional Class (APHIX). 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.

	AWPAX	APHIX	Difference
Sharpe ratio: Return per unit of total volatility	0.26	1.46	-1.20
Sortino ratio: Return per unit of downside risk	0.50	2.15	-1.65
Omega ratio: Gain probability vs. loss probability	1.06	1.27	-0.21
Calmar ratio: Return relative to maximum drawdown	0.36	2.29	-1.94
Martin ratio: Return relative to average drawdown	1.23	6.73	-5.51

AWPAX vs. APHIX - Sharpe Ratio Comparison

The current AWPAX Sharpe Ratio is 0.26, which is lower than the APHIX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of AWPAX and APHIX, 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

AWPAX vs. APHIX - Drawdown Comparison

The maximum AWPAX drawdown since its inception was -63.00%, smaller than the maximum APHIX drawdown of -68.47%. Use the drawdown chart below to compare losses from any high point for AWPAX and APHIX.

Drawdown Indicators

	AWPAX	APHIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.00%	-68.47%	+5.47%
Max Drawdown (1Y) Largest decline over 1 year	-13.44%	-9.77%	-3.67%
Max Drawdown (3Y) Largest decline over 3 years	-19.47%	-13.37%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-38.13%	-33.73%	-4.40%
Max Drawdown (10Y) Largest decline over 10 years	-38.13%	-33.73%	-4.40%
Current Drawdown Current decline from peak	-6.15%	-3.89%	-2.26%
Average Drawdown Average peak-to-trough decline	-18.71%	-22.97%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	3.32%	+0.56%

Volatility

AWPAX vs. APHIX - Volatility Comparison

AB Sustainable International Thematic Fund (AWPAX) has a higher volatility of 6.05% compared to Artisan International Fund Institutional Class (APHIX) at 3.83%. This indicates that AWPAX's price experiences larger fluctuations and is considered to be riskier than APHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWPAX	APHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	3.83%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	16.33%	12.85%	+3.48%
Volatility (1Y) Calculated over the trailing 1-year period	18.32%	15.34%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.00%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	16.14%	+0.63%

AWPAX vs. APHIX - Expense Ratio Comparison

AWPAX has a 1.03% expense ratio, which is higher than APHIX's 0.96% expense ratio.

Dividends

AWPAX vs. APHIX - Dividend Comparison

AWPAX has not paid dividends to shareholders, while APHIX's dividend yield for the trailing twelve months is around 19.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APHIX Artisan International Fund Institutional Class	19.64%	22.63%	10.37%	2.10%	2.84%	23.52%	3.45%	5.44%	10.02%	0.91%	1.50%	0.73%
AWPAX AB Sustainable International Thematic Fund	0.00%	0.00%	0.00%	0.00%	0.52%	7.00%	1.67%	1.11%	14.44%	0.00%	0.77%	0.00%

Frequently Asked Questions

Can I hold both AWPAX and APHIX in my portfolio?

AWPAX and APHIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWPAX or APHIX?

AWPAX has higher volatility (6.05%) compared to APHIX (3.83%). In terms of maximum drawdown, AWPAX dropped -63.00% vs APHIX's -68.47%.

Which has better risk-adjusted returns?

APHIX currently has the higher Sharpe Ratio (1.46 vs 0.26), 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.