AZNIX vs. ARTFX

Last updated Jun 24, 2026

AZNIX (Virtus Income & Growth Fund) and ARTFX (Artisan High Income Fund) are both mutual funds - AZNIX is a Diversified Portfolio fund managed by Allianz, while ARTFX is a High Yield Bonds fund managed by Artisan. Over the past 10 years, AZNIX returned 9.73%/yr vs 5.98%/yr for ARTFX. A 0.52 correlation means they provide meaningful diversification when combined. AZNIX charges 0.92%/yr vs 0.96%/yr for ARTFX.

Performance

AZNIX vs. ARTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Income & Growth Fund (AZNIX) and Artisan High Income Fund (ARTFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AZNIX achieves a 10.20% return, which is significantly higher than ARTFX's 0.88% return. Over the past 10 years, AZNIX has outperformed ARTFX with an annualized return of 9.73%, while ARTFX has yielded a comparatively lower 5.98% annualized return.

AZNIX

• 1D: -0.08%
• 1M: 1.79%
• YTD: 10.20%
• 6M: 9.49%
• 1Y: 19.91%
• 3Y*: 14.24%
• 5Y*: 6.67%
• 10Y*: 9.73%

ARTFX

• 1D: 0.00%
• 1M: 0.70%
• YTD: 0.88%
• 6M: 1.47%
• 1Y: 5.19%
• 3Y*: 8.43%
• 5Y*: 3.49%
• 10Y*: 5.98%

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

AZNIX vs. ARTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AZNIX Virtus Income & Growth Fund	10.20%	11.97%	11.24%	18.99%	-19.58%	11.81%	23.37%	20.81%	-5.56%	13.05%
ARTFX Artisan High Income Fund	0.88%	8.02%	7.76%	13.61%	-10.66%	3.79%	9.45%	14.04%	-1.66%	8.84%

Correlation

The correlation between AZNIX and ARTFX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 21, 2014	0.52

The correlation between AZNIX and ARTFX has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.

Return for Risk

AZNIX vs. ARTFX — Risk / Return Rank

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

AZNIX

AZNIX Risk / Return Rank: 73
AZNIX Sharpe Ratio Rank: 69
AZNIX Sortino Ratio Rank: 64
AZNIX Omega Ratio Rank: 66
AZNIX Calmar Ratio Rank: 78
AZNIX Martin Ratio Rank: 88

ARTFX

ARTFX Risk / Return Rank: 54
ARTFX Sharpe Ratio Rank: 46
ARTFX Sortino Ratio Rank: 78
ARTFX Omega Ratio Rank: 69
ARTFX Calmar Ratio Rank: 32
ARTFX Martin Ratio Rank: 46

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.

AZNIX vs. ARTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Income & Growth Fund (AZNIX) and Artisan High Income Fund (ARTFX). 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.

	AZNIX	ARTFX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.83	+0.39
Sortino ratio: Return per unit of downside risk	3.06	3.39	-0.34
Omega ratio: Gain probability vs. loss probability	1.41	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	3.35	2.02	+1.33
Martin ratio: Return relative to average drawdown	15.70	9.01	+6.68

AZNIX vs. ARTFX - Sharpe Ratio Comparison

The current AZNIX Sharpe Ratio is 2.23, which is comparable to the ARTFX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of AZNIX and ARTFX, 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

AZNIX vs. ARTFX - Drawdown Comparison

The maximum AZNIX drawdown since its inception was -45.11%, which is greater than ARTFX's maximum drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for AZNIX and ARTFX.

Drawdown Indicators

	AZNIX	ARTFX	Difference
Max Drawdown Largest peak-to-trough decline	-45.11%	-21.42%	-23.69%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-2.65%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-10.59%	-3.42%	-7.17%
Max Drawdown (5Y) Largest decline over 5 years	-23.92%	-14.62%	-9.30%
Max Drawdown (10Y) Largest decline over 10 years	-26.24%	-21.42%	-4.82%
Current Drawdown Current decline from peak	-0.21%	-0.22%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.89%	-2.20%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	0.59%	+0.72%

Volatility

AZNIX vs. ARTFX - Volatility Comparison

Virtus Income & Growth Fund (AZNIX) has a higher volatility of 3.72% compared to Artisan High Income Fund (ARTFX) at 0.78%. This indicates that AZNIX's price experiences larger fluctuations and is considered to be riskier than ARTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AZNIX	ARTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	0.78%	+2.94%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	2.35%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	9.28%	2.92%	+6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.83%	4.86%	+5.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.44%	5.19%	+6.25%

AZNIX vs. ARTFX - Expense Ratio Comparison

AZNIX has a 0.92% expense ratio, which is lower than ARTFX's 0.96% expense ratio.

Dividends

AZNIX vs. ARTFX - Dividend Comparison

AZNIX's dividend yield for the trailing twelve months is around 6.57%, less than ARTFX's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTFX Artisan High Income Fund	6.91%	6.71%	6.52%	5.43%	6.23%	5.21%	5.33%	6.15%	6.99%	7.75%	6.53%	7.28%
AZNIX Virtus Income & Growth Fund	6.57%	7.00%	7.29%	7.49%	8.26%	6.21%	6.59%	8.18%	7.22%	7.82%	8.94%	9.33%

Frequently Asked Questions

Can I hold both AZNIX and ARTFX in my portfolio?

AZNIX and ARTFX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AZNIX or ARTFX?

AZNIX has higher volatility (3.72%) compared to ARTFX (0.78%). In terms of maximum drawdown, AZNIX dropped -45.11% vs ARTFX's -21.42%.

Which has better risk-adjusted returns?

AZNIX currently has the higher Sharpe Ratio (2.23 vs 1.83), 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.