MDIIX vs. APHIX
MDIIX (iShares MSCI EAFE International Index Fund) and APHIX (Artisan International Fund Institutional Class) are both Foreign Large Cap Equities funds. MDIIX is passively managed, while APHIX is actively managed. Over the past 10 years, MDIIX returned 9.34%/yr vs 10.35%/yr for APHIX. Their correlation of 0.89 suggests significant overlap in exposure. MDIIX charges 0.35%/yr vs 0.96%/yr for APHIX.
Performance
MDIIX vs. APHIX - Performance Comparison
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Returns By Period
In the year-to-date period, MDIIX achieves a 10.52% return, which is significantly lower than APHIX's 14.80% return. Over the past 10 years, MDIIX has underperformed APHIX with an annualized return of 9.34%, while APHIX has yielded a comparatively higher 10.35% annualized return.
MDIIX
- 1D
- 0.81%
- 1M
- 1.97%
- YTD
- 10.52%
- 6M
- 10.93%
- 1Y
- 25.09%
- 3Y*
- 16.04%
- 5Y*
- 9.19%
- 10Y*
- 9.34%
APHIX
- 1D
- 0.06%
- 1M
- -0.32%
- YTD
- 14.80%
- 6M
- 15.42%
- 1Y
- 25.55%
- 3Y*
- 21.92%
- 5Y*
- 10.58%
- 10Y*
- 10.35%
MDIIX vs. APHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDIIX iShares MSCI EAFE International Index Fund | 10.52% | 31.36% | 3.36% | 18.04% | -14.33% | 10.98% | 7.68% | 21.55% | -13.62% | 24.84% |
APHIX Artisan International Fund Institutional Class | 14.80% | 36.49% | 10.89% | 14.52% | -19.35% | 9.10% | 7.84% | 29.43% | -10.81% | 31.25% |
Correlation
The correlation between MDIIX and APHIX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997 | 0.89 |
The correlation between MDIIX and APHIX shifts across timeframes, from 0.70 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MDIIX vs. APHIX — Risk / Return Rank
MDIIX
APHIX
MDIIX vs. APHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE International Index Fund (MDIIX) and Artisan International Fund Institutional Class (APHIX). 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.
| MDIIX | APHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.73 | -0.59 |
| Martin ratioReturn relative to average drawdown | 7.97 | 8.97 | -1.00 |
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Drawdowns
MDIIX vs. APHIX - Drawdown Comparison
The maximum MDIIX drawdown since its inception was -61.26%, smaller than the maximum APHIX drawdown of -68.47%. Use the drawdown chart below to compare losses from any high point for MDIIX and APHIX.
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Drawdown Indicators
| MDIIX | APHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.26% | -68.47% | +7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.32% | -9.77% | -1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -13.67% | -13.37% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -29.43% | -33.73% | +4.30% |
Max Drawdown (10Y)Largest decline over 10 years | -34.34% | -33.73% | -0.61% |
Current DrawdownCurrent decline from peak | 0.00% | -4.22% | +4.22% |
Average DrawdownAverage peak-to-trough decline | -15.54% | -23.04% | +7.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 2.96% | +0.07% |
Volatility
MDIIX vs. APHIX - Volatility Comparison
iShares MSCI EAFE International Index Fund (MDIIX) and Artisan International Fund Institutional Class (APHIX) have volatilities of 4.95% and 5.06%, 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.
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Volatility by Period
| MDIIX | APHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 5.06% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 12.85% | 12.64% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.49% | 15.09% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.25% | 15.97% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 16.33% | +0.32% |
MDIIX vs. APHIX - Expense Ratio Comparison
MDIIX has a 0.35% expense ratio, which is lower than APHIX's 0.96% expense ratio.
Dividends
MDIIX vs. APHIX - Dividend Comparison
MDIIX's dividend yield for the trailing twelve months is around 3.16%, less than APHIX's 19.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APHIX Artisan International Fund Institutional Class | 19.71% | 22.63% | 10.37% | 2.10% | 2.84% | 23.52% | 3.45% | 5.44% | 10.02% | 0.91% | 1.50% | 0.73% |
MDIIX iShares MSCI EAFE International Index Fund | 3.16% | 3.49% | 3.15% | 2.94% | 2.52% | 2.78% | 1.72% | 3.05% | 4.24% | 2.21% | 2.60% | 1.94% |
Frequently Asked Questions
MDIIX and APHIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APHIX has higher volatility (5.06%) compared to MDIIX (4.95%). In terms of maximum drawdown, MDIIX dropped -61.26% vs APHIX's -68.47%.
APHIX currently has the higher Sharpe Ratio (1.77 vs 1.56), 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.
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