CAEIX vs. APFDX

Last updated Jun 23, 2026

CAEIX (Calvert Global Energy Solutions Fund) and APFDX (Artisan Global Discovery Fund) are both Global Equities funds. Over the past 5 years, CAEIX returned 5.91%/yr vs 4.51%/yr for APFDX. Their correlation of 0.81 suggests significant overlap in exposure. CAEIX charges 0.99%/yr vs 1.38%/yr for APFDX.

Performance

CAEIX vs. APFDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Global Energy Solutions Fund (CAEIX) and Artisan Global Discovery Fund (APFDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAEIX achieves a 17.95% return, which is significantly higher than APFDX's 7.33% return.

CAEIX

• 1D: 1.29%
• 1M: -1.79%
• YTD: 17.95%
• 6M: 17.45%
• 1Y: 42.22%
• 3Y*: 11.22%
• 5Y*: 5.91%
• 10Y*: 11.57%

APFDX

• 1D: 1.74%
• 1M: 3.74%
• YTD: 7.33%
• 6M: 5.71%
• 1Y: 15.60%
• 3Y*: 14.05%
• 5Y*: 4.51%
• 10Y*: —

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

CAEIX vs. APFDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAEIX Calvert Global Energy Solutions Fund	17.95%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	7.77%
APFDX Artisan Global Discovery Fund	7.33%	12.07%	16.11%	20.66%	-31.14%	12.04%	45.70%	42.57%	-2.58%	4.94%

Correlation

The correlation between CAEIX and APFDX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.81

The correlation between CAEIX and APFDX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

CAEIX vs. APFDX — Risk / Return Rank

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

CAEIX

CAEIX Risk / Return Rank: 80
CAEIX Sharpe Ratio Rank: 81
CAEIX Sortino Ratio Rank: 70
CAEIX Omega Ratio Rank: 69
CAEIX Calmar Ratio Rank: 94
CAEIX Martin Ratio Rank: 89

APFDX

APFDX Risk / Return Rank: 14
APFDX Sharpe Ratio Rank: 12
APFDX Sortino Ratio Rank: 13
APFDX Omega Ratio Rank: 12
APFDX Calmar Ratio Rank: 13
APFDX Martin Ratio Rank: 20

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.

CAEIX vs. APFDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Global Energy Solutions Fund (CAEIX) and Artisan Global Discovery Fund (APFDX). 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.

	CAEIX	APFDX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	0.90	+1.54
Sortino ratio: Return per unit of downside risk	3.18	1.42	+1.75
Omega ratio: Gain probability vs. loss probability	1.42	1.17	+0.25
Calmar ratio: Return relative to maximum drawdown	5.00	1.18	+3.82
Martin ratio: Return relative to average drawdown	16.04	4.69	+11.35

CAEIX vs. APFDX - Sharpe Ratio Comparison

The current CAEIX Sharpe Ratio is 2.44, which is higher than the APFDX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of CAEIX and APFDX, 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

CAEIX vs. APFDX - Drawdown Comparison

The maximum CAEIX drawdown since its inception was -75.81%, which is greater than APFDX's maximum drawdown of -40.83%. Use the drawdown chart below to compare losses from any high point for CAEIX and APFDX.

Drawdown Indicators

	CAEIX	APFDX	Difference
Max Drawdown Largest peak-to-trough decline	-75.81%	-40.83%	-34.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-13.18%	+4.79%
Max Drawdown (3Y) Largest decline over 3 years	-24.57%	-21.19%	-3.38%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-40.83%	+8.25%
Max Drawdown (10Y) Largest decline over 10 years	-37.54%	—	—
Current Drawdown Current decline from peak	-4.18%	0.00%	-4.18%
Average Drawdown Average peak-to-trough decline	-48.51%	-10.67%	-37.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	3.30%	-0.69%

Volatility

CAEIX vs. APFDX - Volatility Comparison

Calvert Global Energy Solutions Fund (CAEIX) and Artisan Global Discovery Fund (APFDX) have volatilities of 6.86% and 6.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAEIX	APFDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	6.85%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.98%	14.53%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	17.19%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	20.72%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	20.50%	-0.78%

CAEIX vs. APFDX - Expense Ratio Comparison

CAEIX has a 0.99% expense ratio, which is lower than APFDX's 1.38% expense ratio.

Dividends

CAEIX vs. APFDX - Dividend Comparison

CAEIX's dividend yield for the trailing twelve months is around 0.61%, less than APFDX's 18.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFDX Artisan Global Discovery Fund	18.29%	19.63%	0.87%	0.00%	0.00%	7.91%	1.88%	0.00%	0.51%	0.62%	0.00%	0.00%
CAEIX Calvert Global Energy Solutions Fund	0.61%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%

Frequently Asked Questions

Can I hold both CAEIX and APFDX in my portfolio?

CAEIX and APFDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAEIX or APFDX?

CAEIX has higher volatility (6.86%) compared to APFDX (6.85%). In terms of maximum drawdown, CAEIX dropped -75.81% vs APFDX's -40.83%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (2.44 vs 0.90), 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.