TOWFX vs. APFWX
TOWFX (Towpath Focus Fund) and APFWX (Artisan Value Income Fund) are both Large Cap Value Equities funds. Over the past 3 years, TOWFX returned 17.80%/yr vs 10.63%/yr for APFWX. Their correlation of 0.82 suggests significant overlap in exposure. TOWFX charges 1.11%/yr vs 1.20%/yr for APFWX.
Performance
TOWFX vs. APFWX - Performance Comparison
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Returns By Period
In the year-to-date period, TOWFX achieves a 6.57% return, which is significantly higher than APFWX's 5.56% return.
TOWFX
- 1D
- -0.73%
- 1M
- -0.78%
- YTD
- 6.57%
- 6M
- 6.23%
- 1Y
- 23.14%
- 3Y*
- 17.80%
- 5Y*
- 11.79%
- 10Y*
- —
APFWX
- 1D
- -0.17%
- 1M
- -1.61%
- YTD
- 5.56%
- 6M
- 4.53%
- 1Y
- 13.13%
- 3Y*
- 10.63%
- 5Y*
- —
- 10Y*
- —
TOWFX vs. APFWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TOWFX Towpath Focus Fund | 6.57% | 23.51% | 13.22% | 12.33% | 1.82% |
APFWX Artisan Value Income Fund | 5.56% | 9.35% | 9.69% | 10.87% | -3.86% |
Correlation
The correlation between TOWFX and APFWX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 16, 2022 | 0.82 |
The correlation between TOWFX and APFWX shifts across timeframes, from 0.68 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TOWFX vs. APFWX — Risk / Return Rank
TOWFX
APFWX
TOWFX vs. APFWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Towpath Focus Fund (TOWFX) and Artisan Value Income Fund (APFWX). 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.
| TOWFX | APFWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.22 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 1.67 | +3.20 |
| Martin ratioReturn relative to average drawdown | 18.34 | 5.63 | +12.71 |
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Drawdowns
TOWFX vs. APFWX - Drawdown Comparison
The maximum TOWFX drawdown since its inception was -96.18%, which is greater than APFWX's maximum drawdown of -16.00%. Use the drawdown chart below to compare losses from any high point for TOWFX and APFWX.
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Drawdown Indicators
| TOWFX | APFWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.18% | -16.00% | -80.18% |
Max Drawdown (1Y)Largest decline over 1 year | -4.72% | -8.01% | +3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -96.18% | -14.65% | -81.53% |
Max Drawdown (5Y)Largest decline over 5 years | -96.18% | — | — |
Current DrawdownCurrent decline from peak | -94.73% | -2.37% | -92.36% |
Average DrawdownAverage peak-to-trough decline | -23.54% | -3.69% | -19.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 2.36% | -1.11% |
Volatility
TOWFX vs. APFWX - Volatility Comparison
Towpath Focus Fund (TOWFX) and Artisan Value Income Fund (APFWX) have volatilities of 2.87% and 2.92%, 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
| TOWFX | APFWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 2.92% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 6.92% | 7.36% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.17% | 10.44% | -1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1,041.55% | 13.58% | +1,027.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 916.63% | 13.58% | +903.05% |
TOWFX vs. APFWX - Expense Ratio Comparison
TOWFX has a 1.11% expense ratio, which is lower than APFWX's 1.20% expense ratio.
Dividends
TOWFX vs. APFWX - Dividend Comparison
TOWFX's dividend yield for the trailing twelve months is around 1.71%, less than APFWX's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
APFWX Artisan Value Income Fund | 2.07% | 1.61% | 2.38% | 2.62% | 2.10% | 0.00% | 0.00% |
TOWFX Towpath Focus Fund | 1.71% | 1.82% | 1.49% | 2.81% | 2.05% | 5.69% | 5.94% |
Frequently Asked Questions
TOWFX and APFWX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APFWX has higher volatility (2.92%) compared to TOWFX (2.87%). In terms of maximum drawdown, TOWFX dropped -96.18% vs APFWX's -16.00%.
TOWFX currently has the higher Sharpe Ratio (2.50 vs 1.28), 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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