BDOAX vs. APDIX

Last updated Jun 3, 2026

BDOAX (iShares MSCI Total International Index Fund Class A) and APDIX (Artisan International Fund Advisor Class) are both International Equity funds. BDOAX is passively managed, while APDIX is actively managed. Over the past 10 years, BDOAX returned 9.28%/yr vs 9.99%/yr for APDIX. Their correlation of 0.87 suggests significant overlap in exposure. BDOAX charges 0.41%/yr vs 1.05%/yr for APDIX.

Performance

BDOAX vs. APDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Total International Index Fund Class A (BDOAX) and Artisan International Fund Advisor Class (APDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BDOAX having a 14.90% return and APDIX slightly lower at 14.20%. Over the past 10 years, BDOAX has underperformed APDIX with an annualized return of 9.28%, while APDIX has yielded a comparatively higher 9.99% annualized return.

BDOAX

• 1D: 0.63%
• 1M: 4.90%
• YTD: 14.90%
• 6M: 17.92%
• 1Y: 31.85%
• 3Y*: 19.33%
• 5Y*: 8.16%
• 10Y*: 9.28%

APDIX

• 1D: -0.41%
• 1M: -1.23%
• YTD: 14.20%
• 6M: 18.19%
• 1Y: 26.19%
• 3Y*: 22.87%
• 5Y*: 9.99%
• 10Y*: 9.99%

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

BDOAX vs. APDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BDOAX iShares MSCI Total International Index Fund Class A	14.90%	32.20%	5.02%	14.81%	-16.63%	7.36%	10.47%	20.81%	-14.19%	26.16%
APDIX Artisan International Fund Advisor Class	14.20%	36.36%	10.78%	14.44%	-19.44%	9.01%	7.75%	29.33%	-10.86%	31.12%

Correlation

The correlation between BDOAX and APDIX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.87

The correlation between BDOAX and APDIX shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BDOAX vs. APDIX — Risk / Return Rank

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

BDOAX

BDOAX Risk / Return Rank: 57
BDOAX Sharpe Ratio Rank: 59
BDOAX Sortino Ratio Rank: 53
BDOAX Omega Ratio Rank: 58
BDOAX Calmar Ratio Rank: 57
BDOAX Martin Ratio Rank: 56

APDIX

APDIX Risk / Return Rank: 49
APDIX Sharpe Ratio Rank: 45
APDIX Sortino Ratio Rank: 46
APDIX Omega Ratio Rank: 43
APDIX Calmar Ratio Rank: 59
APDIX Martin Ratio Rank: 53

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.

BDOAX vs. APDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Total International Index Fund Class A (BDOAX) and Artisan International Fund Advisor Class (APDIX). 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.

	BDOAX	APDIX	Difference
Sharpe ratio Return per unit of total volatility	2.27	1.95	+0.32
Sortino ratio Return per unit of downside risk	3.08	2.84	+0.24
Omega ratio Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio Return relative to maximum drawdown	2.89	2.94	-0.05
Martin ratio Return relative to average drawdown	11.39	10.86	+0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDOAX vs. APDIX - Sharpe Ratio Comparison

The current BDOAX Sharpe Ratio is 2.27, which is comparable to the APDIX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of BDOAX and APDIX, 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

	BDOAX	APDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.95	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.63	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.62	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.59	-0.24

Drawdowns

BDOAX vs. APDIX - Drawdown Comparison

The maximum BDOAX drawdown since its inception was -35.53%, which is greater than APDIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for BDOAX and APDIX.

Drawdown Indicators

	BDOAX	APDIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.53%	-33.79%	-1.74%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-9.77%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-13.54%	-13.39%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-30.54%	-33.79%	+3.25%
Max Drawdown (10Y) Largest decline over 10 years	-35.53%	-33.79%	-1.74%
Current Drawdown Current decline from peak	0.00%	-4.70%	+4.70%
Average Drawdown Average peak-to-trough decline	-8.72%	-6.99%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	2.65%	+0.24%

Volatility

BDOAX vs. APDIX - Volatility Comparison

The current volatility for iShares MSCI Total International Index Fund Class A (BDOAX) is 5.02%, while Artisan International Fund Advisor Class (APDIX) has a volatility of 5.75%. This indicates that BDOAX experiences smaller price fluctuations and is considered to be less risky than APDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDOAX	APDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	5.75%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	11.92%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	14.58%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.44%	15.85%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.26%	16.31%	-0.05%

BDOAX vs. APDIX - Expense Ratio Comparison

BDOAX has a 0.41% expense ratio, which is lower than APDIX's 1.05% expense ratio.

Dividends

BDOAX vs. APDIX - Dividend Comparison

BDOAX's dividend yield for the trailing twelve months is around 2.33%, less than APDIX's 20.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APDIX Artisan International Fund Advisor Class	20.00%	22.84%	10.42%	2.00%	2.74%	23.63%	3.39%	5.41%	9.98%	0.83%	1.45%	0.00%
BDOAX iShares MSCI Total International Index Fund Class A	2.33%	2.84%	2.62%	2.74%	2.61%	2.46%	1.79%	2.85%	3.05%	1.65%	3.33%	3.78%

Frequently Asked Questions

Can I hold both BDOAX and APDIX in my portfolio?

BDOAX and APDIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDOAX or APDIX?

APDIX has higher volatility (5.75%) compared to BDOAX (5.02%). In terms of maximum drawdown, BDOAX dropped -35.53% vs APDIX's -33.79%.

Which has better risk-adjusted returns?

BDOAX currently has the higher Sharpe Ratio (2.27 vs 1.95), 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.