CIVIX vs. APDKX

Last updated Jun 23, 2026

CIVIX (Causeway International Value Instl) and APDKX (Artisan International Value Fund Advisor Class) are both Foreign Large Cap Equities funds. CIVIX is passively managed, while APDKX is actively managed. Over the past 10 years, CIVIX returned 10.39%/yr vs 10.62%/yr for APDKX. Their correlation of 0.89 suggests significant overlap in exposure. CIVIX charges 0.85%/yr vs 1.06%/yr for APDKX.

Performance

CIVIX vs. APDKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Causeway International Value Instl (CIVIX) and Artisan International Value Fund Advisor Class (APDKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIVIX achieves a 7.28% return, which is significantly lower than APDKX's 11.29% return. Both investments have delivered pretty close results over the past 10 years, with CIVIX having a 10.39% annualized return and APDKX not far ahead at 10.62%.

CIVIX

• 1D: 1.00%
• 1M: 2.81%
• YTD: 7.28%
• 6M: 8.29%
• 1Y: 27.66%
• 3Y*: 17.85%
• 5Y*: 12.72%
• 10Y*: 10.39%

APDKX

• 1D: 0.54%
• 1M: 2.87%
• YTD: 11.29%
• 6M: 11.94%
• 1Y: 24.80%
• 3Y*: 15.88%
• 5Y*: 11.20%
• 10Y*: 10.62%

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

CIVIX vs. APDKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIVIX Causeway International Value Instl	7.28%	39.13%	3.73%	27.29%	-6.77%	9.12%	5.41%	20.11%	-18.62%	27.20%
APDKX Artisan International Value Fund Advisor Class	11.29%	22.69%	6.55%	22.81%	-6.85%	16.83%	8.70%	24.12%	-15.56%	20.50%

Correlation

The correlation between CIVIX and APDKX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.89

The correlation between CIVIX and APDKX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

CIVIX vs. APDKX — Risk / Return Rank

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

CIVIX

CIVIX Risk / Return Rank: 30
CIVIX Sharpe Ratio Rank: 33
CIVIX Sortino Ratio Rank: 33
CIVIX Omega Ratio Rank: 34
CIVIX Calmar Ratio Rank: 23
CIVIX Martin Ratio Rank: 24

APDKX

APDKX Risk / Return Rank: 45
APDKX Sharpe Ratio Rank: 43
APDKX Sortino Ratio Rank: 45
APDKX Omega Ratio Rank: 50
APDKX Calmar Ratio Rank: 47
APDKX Martin Ratio Rank: 41

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.

CIVIX vs. APDKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Causeway International Value Instl (CIVIX) and Artisan International Value Fund Advisor Class (APDKX). 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.

	CIVIX	APDKX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.78	-0.24
Sortino ratio: Return per unit of downside risk	2.24	2.60	-0.36
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	1.67	2.49	-0.82
Martin ratio: Return relative to average drawdown	5.44	8.40	-2.96

CIVIX vs. APDKX - Sharpe Ratio Comparison

The current CIVIX Sharpe Ratio is 1.54, which is comparable to the APDKX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of CIVIX and APDKX, 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

CIVIX vs. APDKX - Drawdown Comparison

The maximum CIVIX drawdown since its inception was -60.93%, which is greater than APDKX's maximum drawdown of -38.09%. Use the drawdown chart below to compare losses from any high point for CIVIX and APDKX.

Drawdown Indicators

	CIVIX	APDKX	Difference
Max Drawdown Largest peak-to-trough decline	-60.93%	-38.09%	-22.84%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-9.95%	-6.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.30%	-10.88%	-6.42%
Max Drawdown (5Y) Largest decline over 5 years	-28.51%	-24.88%	-3.63%
Max Drawdown (10Y) Largest decline over 10 years	-44.87%	-38.09%	-6.78%
Current Drawdown Current decline from peak	-2.36%	-0.22%	-2.14%
Average Drawdown Average peak-to-trough decline	-10.98%	-5.38%	-5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	2.94%	+2.02%

Volatility

CIVIX vs. APDKX - Volatility Comparison

Causeway International Value Instl (CIVIX) has a higher volatility of 5.58% compared to Artisan International Value Fund Advisor Class (APDKX) at 3.98%. This indicates that CIVIX's price experiences larger fluctuations and is considered to be riskier than APDKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIVIX	APDKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	3.98%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	14.97%	10.04%	+4.93%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	13.92%	+3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	14.00%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	16.17%	+3.26%

CIVIX vs. APDKX - Expense Ratio Comparison

CIVIX has a 0.85% expense ratio, which is lower than APDKX's 1.06% expense ratio.

Dividends

CIVIX vs. APDKX - Dividend Comparison

CIVIX's dividend yield for the trailing twelve months is around 9.06%, more than APDKX's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APDKX Artisan International Value Fund Advisor Class	6.37%	7.05%	4.26%	3.02%	2.23%	9.92%	0.91%	3.83%	5.61%	1.25%	3.27%	0.00%
CIVIX Causeway International Value Instl	9.06%	9.72%	9.25%	3.61%	1.78%	1.82%	1.37%	4.63%	3.55%	1.83%	1.96%	1.95%

Frequently Asked Questions

Can I hold both CIVIX and APDKX in my portfolio?

CIVIX and APDKX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIVIX or APDKX?

CIVIX has higher volatility (5.58%) compared to APDKX (3.98%). In terms of maximum drawdown, CIVIX dropped -60.93% vs APDKX's -38.09%.

Which has better risk-adjusted returns?

APDKX currently has the higher Sharpe Ratio (1.78 vs 1.54), 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.