TIISX vs. ARHBX

Last updated Jun 6, 2026

TIISX (TIAA-CREF Quant International Small-Cap Equity Fund) and ARHBX (Artisan International Explorer Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, TIISX returned 22.72%/yr vs 19.03%/yr for ARHBX. A 0.79 correlation means they provide meaningful diversification when combined. TIISX charges 0.72%/yr vs 1.35%/yr for ARHBX.

Performance

TIISX vs. ARHBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Quant International Small-Cap Equity Fund (TIISX) and Artisan International Explorer Fund (ARHBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIISX achieves a 17.66% return, which is significantly lower than ARHBX's 23.08% return.

TIISX

• 1D: 0.39%
• 1M: 0.46%
• YTD: 17.66%
• 6M: 21.09%
• 1Y: 33.46%
• 3Y*: 22.72%
• 5Y*: 9.38%
• 10Y*: —

ARHBX

• 1D: 0.44%
• 1M: 4.15%
• YTD: 23.08%
• 6M: 24.97%
• 1Y: 26.81%
• 3Y*: 19.03%
• 5Y*: —
• 10Y*: —

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

TIISX vs. ARHBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TIISX TIAA-CREF Quant International Small-Cap Equity Fund	17.66%	35.62%	5.06%	16.93%	-5.15%
ARHBX Artisan International Explorer Fund	23.08%	18.32%	8.34%	20.65%	-2.64%

Correlation

The correlation between TIISX and ARHBX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 17, 2022	0.79

The correlation between TIISX and ARHBX has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

Return for Risk

TIISX vs. ARHBX — Risk / Return Rank

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

TIISX

TIISX Risk / Return Rank: 63
TIISX Sharpe Ratio Rank: 68
TIISX Sortino Ratio Rank: 65
TIISX Omega Ratio Rank: 65
TIISX Calmar Ratio Rank: 60
TIISX Martin Ratio Rank: 57

ARHBX

ARHBX Risk / Return Rank: 45
ARHBX Sharpe Ratio Rank: 42
ARHBX Sortino Ratio Rank: 42
ARHBX Omega Ratio Rank: 42
ARHBX Calmar Ratio Rank: 60
ARHBX Martin Ratio Rank: 40

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.

TIISX vs. ARHBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Quant International Small-Cap Equity Fund (TIISX) and Artisan International Explorer Fund (ARHBX). 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.

	TIISX	ARHBX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.83	+0.52
Sortino ratio: Return per unit of downside risk	3.27	2.61	+0.66
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	2.87	2.89	-0.03
Martin ratio: Return relative to average drawdown	11.10	8.38	+2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIISX vs. ARHBX - Sharpe Ratio Comparison

The current TIISX Sharpe Ratio is 2.35, which is comparable to the ARHBX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of TIISX and ARHBX, 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

	TIISX	ARHBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.83	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	1.15	-0.58

Drawdowns

TIISX vs. ARHBX - Drawdown Comparison

The maximum TIISX drawdown since its inception was -48.87%, which is greater than ARHBX's maximum drawdown of -18.10%. Use the drawdown chart below to compare losses from any high point for TIISX and ARHBX.

Drawdown Indicators

	TIISX	ARHBX	Difference
Max Drawdown Largest peak-to-trough decline	-48.87%	-18.10%	-30.77%
Max Drawdown (1Y) Largest decline over 1 year	-11.89%	-9.51%	-2.38%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-14.20%	+1.69%
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	—	—
Current Drawdown Current decline from peak	-1.72%	-1.77%	+0.05%
Average Drawdown Average peak-to-trough decline	-10.87%	-3.53%	-7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.27%	-0.21%

Volatility

TIISX vs. ARHBX - Volatility Comparison

The current volatility for TIAA-CREF Quant International Small-Cap Equity Fund (TIISX) is 4.72%, while Artisan International Explorer Fund (ARHBX) has a volatility of 6.76%. This indicates that TIISX experiences smaller price fluctuations and is considered to be less risky than ARHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIISX	ARHBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	6.76%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	13.00%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	14.50%	15.02%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.37%	14.46%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	14.46%	+1.92%

TIISX vs. ARHBX - Expense Ratio Comparison

TIISX has a 0.72% expense ratio, which is lower than ARHBX's 1.35% expense ratio.

Dividends

TIISX vs. ARHBX - Dividend Comparison

TIISX's dividend yield for the trailing twelve months is around 7.25%, more than ARHBX's 6.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARHBX Artisan International Explorer Fund	6.05%	7.44%	4.86%	1.97%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
TIISX TIAA-CREF Quant International Small-Cap Equity Fund	7.25%	8.53%	3.29%	3.01%	3.45%	6.38%	1.99%	3.33%	6.37%	3.56%

Frequently Asked Questions

Can I hold both TIISX and ARHBX in my portfolio?

TIISX and ARHBX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIISX or ARHBX?

ARHBX has higher volatility (6.76%) compared to TIISX (4.72%). In terms of maximum drawdown, TIISX dropped -48.87% vs ARHBX's -18.10%.

Which has better risk-adjusted returns?

TIISX currently has the higher Sharpe Ratio (2.35 vs 1.83), 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.