FLBDX vs. APFPX

Last updated Aug 1, 2026

FLBDX (Meeder Tactical Income Fund) and APFPX (Artisan Global Unconstrained Fund) are both Nontraditional Bonds funds. Over the past 3 years, FLBDX returned 6.51%/yr vs 9.28%/yr for APFPX. Their -0.29 correlation means they have often moved in opposite directions in the past. FLBDX charges 1.11%/yr vs 1.54%/yr for APFPX.

Performance

FLBDX vs. APFPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Meeder Tactical Income Fund (FLBDX) and Artisan Global Unconstrained Fund (APFPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLBDX achieves a 1.49% return, which is significantly lower than APFPX's 5.21% return.

FLBDX

• 1D: 0.00%
• 1M: -0.73%
• 6M: 0.97%
• YTD: 1.49%
• 1Y: 5.20%
• 3Y*: 6.51%
• 5Y*: 3.00%
• 10Y*: 2.99%
• ALL TIME*: 2.76%

APFPX

• 1D: -0.02%
• 1M: 0.88%
• 6M: 3.18%
• YTD: 5.21%
• 1Y: 11.35%
• 3Y*: 9.28%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.59%

*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)
APFPX Artisan Global Unconstrained Fund	$0.00	$0.00	$0.00
FLBDX Meeder Tactical Income Fund	$0.00	$0.00	$0.00

FLBDX vs. APFPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLBDX Meeder Tactical Income Fund	1.49%	7.28%	6.64%	7.10%	-2.05%
APFPX Artisan Global Unconstrained Fund	5.21%	10.21%	11.33%	6.67%	6.73%

Correlation

The correlation between FLBDX and APFPX is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.21
Correlation (3Y) Balances recent behavior with more history.	-0.28
Correlation (All Time) Calculated using the full available price history since May 17, 2022	-0.29

Return for Risk

FLBDX vs. APFPX — Risk / Return Rank

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

FLBDX

FLBDX Risk / Return Rank: 87
FLBDX Sharpe Ratio Rank: 86
FLBDX Sortino Ratio Rank: 87
FLBDX Omega Ratio Rank: 84
FLBDX Calmar Ratio Rank: 88
FLBDX Martin Ratio Rank: 88

APFPX

APFPX Risk / Return Rank: 99
APFPX Sharpe Ratio Rank: 100
APFPX Sortino Ratio Rank: 99
APFPX Omega Ratio Rank: 98
APFPX Calmar Ratio Rank: 99
APFPX Martin Ratio Rank: 99

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.

FLBDX vs. APFPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meeder Tactical Income Fund (FLBDX) and Artisan Global Unconstrained Fund (APFPX). 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.

	FLBDX	APFPX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	4.69	-2.56
Sortino ratio: Return per unit of downside risk	3.22	6.80	-3.58
Omega ratio: Gain probability vs. loss probability	1.42	2.18	-0.76
Calmar ratio: Return relative to maximum drawdown	3.23	13.11	-9.88
Martin ratio: Return relative to average drawdown	11.87	53.64	-41.76

FLBDX vs. APFPX - Sharpe Ratio Comparison

The current FLBDX Sharpe Ratio is 2.14, which is lower than the APFPX Sharpe Ratio of 4.69. The chart below compares the historical Sharpe Ratios of FLBDX and APFPX, 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

FLBDX vs. APFPX - Drawdown Comparison

The maximum FLBDX drawdown since its inception was -8.74%, which is greater than APFPX's maximum drawdown of -2.10%. Use the drawdown chart below to compare losses from any high point for FLBDX and APFPX.

Drawdown Indicators

	FLBDX	APFPX	Difference
Max Drawdown Largest peak-to-trough decline	-8.74%	-2.10%	-6.64%
Max Drawdown (1Y) Largest decline over 1 year	-1.65%	-0.90%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-2.51%	-2.02%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-8.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.74%	—	—
Current Drawdown Current decline from peak	-0.93%	-0.29%	-0.64%
Average Drawdown Average peak-to-trough decline	-1.92%	-0.24%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.22%	+0.23%

Volatility

FLBDX vs. APFPX - Volatility Comparison

Meeder Tactical Income Fund (FLBDX) and Artisan Global Unconstrained Fund (APFPX) have volatilities of 0.51% and 0.51%, 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

	FLBDX	APFPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	0.51%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	2.10%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	2.51%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.70%	2.73%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	2.73%	+0.21%

FLBDX vs. APFPX - Expense Ratio Comparison

FLBDX has a 1.11% expense ratio, which is lower than APFPX's 1.54% expense ratio.

Dividends

FLBDX vs. APFPX - Dividend Comparison

FLBDX's dividend yield for the trailing twelve months is around 4.38%, less than APFPX's 4.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFPX Artisan Global Unconstrained Fund	4.63%	4.01%	6.18%	6.89%	8.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLBDX Meeder Tactical Income Fund	4.38%	4.67%	4.35%	3.57%	1.68%	1.56%	1.81%	2.32%	2.03%	2.70%	2.90%	2.78%

Frequently Asked Questions

Can I hold both FLBDX and APFPX in my portfolio?

FLBDX and APFPX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLBDX or APFPX?

APFPX has higher volatility (0.51%) compared to FLBDX (0.51%). In terms of maximum drawdown, FLBDX dropped -8.74% vs APFPX's -2.10%.

Which has better risk-adjusted returns?

APFPX currently has the higher Sharpe Ratio (4.69 vs 2.14), 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.