TNZ.TO vs. ARTGX

Last updated Aug 1, 2026

TNZ.TO (Tenaz Energy Corp.) is a stock, while ARTGX (Artisan Global Value Fund) is Global Equities fund managed by Artisan. Over the past 5 years, TNZ.TO returned 94.89%/yr vs 15.26%/yr for ARTGX. Their 0.14 correlation means their historical movements had little consistent relationship.

Performance

TNZ.TO vs. ARTGX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Tenaz Energy Corp. (TNZ.TO) and Artisan Global Value Fund (ARTGX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TNZ.TO is traded in CAD, while ARTGX is traded in USD. To make them comparable, the ARTGX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TNZ.TO achieves a 112.19% return, which is significantly higher than ARTGX's 13.98% return.

TNZ.TO

• 1D: -0.12%
• 1M: 20.30%
• 6M: 49.43%
• YTD: 112.19%
• 1Y: 200.86%
• 3Y*: 145.94%
• 5Y*: 94.89%
• 10Y*: —
• ALL TIME*: 33.66%

ARTGX

• 1D: -0.63%
• 1M: -1.43%
• 6M: 11.16%
• YTD: 13.98%
• 1Y: 29.21%
• 3Y*: 23.02%
• 5Y*: 15.26%
• 10Y*: 12.63%
• ALL TIME*: 11.47%

*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)
ARTGX Artisan Global Value Fund	CA$0.00	CA$0.00	CA$0.00
TNZ.TO Tenaz Energy Corp.	CA$9.53M	CA$9.33M	CA$10.11M

TNZ.TO vs. ARTGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TNZ.TO Tenaz Energy Corp.	112.19%	88.88%	257.00%	82.79%	-33.44%	151.22%	-60.87%	-14.81%	-28.95%
ARTGX Artisan Global Value Fund	13.98%	27.91%	20.03%	23.56%	-8.08%	15.54%	3.96%	18.68%	-8.39%

Correlation

The correlation between TNZ.TO and ARTGX is -0.13, 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.	-0.13
Correlation (3Y) Balances recent behavior with more history.	0.07
Correlation (5Y) Shows whether the relationship held over a longer period.	0.12
Correlation (All Time) Calculated using the full available price history since Jul 10, 2018	0.14

The correlation between TNZ.TO and ARTGX shifts across timeframes, from -0.13 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TNZ.TO vs. ARTGX — Risk / Return Rank

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

TNZ.TO

TNZ.TO Risk / Return Rank: 97
TNZ.TO Sharpe Ratio Rank: 98
TNZ.TO Sortino Ratio Rank: 98
TNZ.TO Omega Ratio Rank: 97
TNZ.TO Calmar Ratio Rank: 97
TNZ.TO Martin Ratio Rank: 96

ARTGX

ARTGX Risk / Return Rank: 83
ARTGX Sharpe Ratio Rank: 86
ARTGX Sortino Ratio Rank: 85
ARTGX Omega Ratio Rank: 81
ARTGX Calmar Ratio Rank: 77
ARTGX Martin Ratio Rank: 84

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.

TNZ.TO vs. ARTGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenaz Energy Corp. (TNZ.TO) and Artisan Global Value Fund (ARTGX). 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.

	TNZ.TO	ARTGX	Difference
Sharpe ratio: Return per unit of total volatility	3.54	2.22	+1.31
Sortino ratio: Return per unit of downside risk	4.40	3.21	+1.18
Omega ratio: Gain probability vs. loss probability	1.53	1.38	+0.15
Calmar ratio: Return relative to maximum drawdown	6.09	3.10	+2.99
Martin ratio: Return relative to average drawdown	15.61	11.82	+3.78

TNZ.TO vs. ARTGX - Sharpe Ratio Comparison

The current TNZ.TO Sharpe Ratio is 3.54, which is higher than the ARTGX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of TNZ.TO and ARTGX, 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

TNZ.TO vs. ARTGX - Drawdown Comparison

The maximum TNZ.TO drawdown since its inception was -83.82%, which is greater than ARTGX's maximum drawdown of -35.75%. Use the drawdown chart below to compare losses from any high point for TNZ.TO and ARTGX.

Drawdown Indicators

	TNZ.TO	ARTGX	Difference
Max Drawdown Largest peak-to-trough decline	-83.82%	-35.75%	-48.07%
Max Drawdown (1Y) Largest decline over 1 year	-33.94%	-9.03%	-24.91%
Max Drawdown (3Y) Largest decline over 3 years	-33.94%	-11.62%	-22.32%
Max Drawdown (5Y) Largest decline over 5 years	-61.32%	-21.23%	-40.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.34%	—
Current Drawdown Current decline from peak	-17.13%	-2.52%	-14.61%
Average Drawdown Average peak-to-trough decline	-44.23%	-4.80%	-39.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.22%	2.36%	+10.86%

Volatility

TNZ.TO vs. ARTGX - Volatility Comparison

Tenaz Energy Corp. (TNZ.TO) has a higher volatility of 15.04% compared to Artisan Global Value Fund (ARTGX) at 3.59%. This indicates that TNZ.TO's price experiences larger fluctuations and is considered to be riskier than ARTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNZ.TO	ARTGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.04%	3.59%	+11.45%
Volatility (6M) Calculated over the trailing 6-month period	38.16%	10.09%	+28.07%
Volatility (1Y) Calculated over the trailing 1-year period	58.46%	12.57%	+45.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.38%	15.44%	+48.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.10%	18.03%	+54.07%

Dividends

TNZ.TO vs. ARTGX - Dividend Comparison

TNZ.TO has not paid dividends to shareholders, while ARTGX's dividend yield for the trailing twelve months is around 4.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARTGX Artisan Global Value Fund	4.12%	4.58%	5.38%	2.87%	3.68%	9.38%	0.05%	1.29%	6.35%	2.01%	2.66%	5.95%
TNZ.TO Tenaz Energy Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNZ.TO and ARTGX in my portfolio?

TNZ.TO and ARTGX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.