Morningstar Ratings

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Antero Peak Group
Global Value
Ratings/Funds in Category
31 December 2020
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Large Stock 760 631 385 760 Bronze
Global Discovery (APFDX) World Large Stock 760 760 Bronze
Mid Cap (ARTMX) Mid-Cap Growth 564 504 383 564 Bronze
Small Cap (ARTSX) Small Growth 576 505 381 576 Bronze
Global Equity (ARTHX) World Large Stock 760 631 385 760 Bronze
International (ARTIX) Foreign Large Growth 384 313 226 384 Bronze
International Small-Mid (ARTJX) Foreign Small/Mid Growth 119 96 65 119 Bronze
Value (ARTLX) Large Value 1128 998 716 1128 Bronze
Mid Cap Value (ARTQX) Mid-Cap Value 396 349 247 396 Bronze
International Value (ARTKX) Foreign Large Blend 676 586 382 676 Silver
Global Value (ARTGX) World Large Stock 760 631 385 760 Silver
Sustainable Emerging Markets (ARTZX) Diversified Emerging Mkts 697 597 278 697
High Income (ARTFX) High Yield Bond 627 554 627
Developing World (ARTYX) Diversified Emerging Mkts 697 597 697 Bronze
Focus (ARTTX) Large Growth 1197 1197
Morningstar ratings are based on risk-adjusted returns, are historical and do not represent future results. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings metrics. 

The Morningstar Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. Funds which have not been rated by Morningstar or have been rated Negative or Neutral are not rated above.The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research.  View Important Disclosures below for further details. 

Growth Sustainable Emerging Markets
Global Equity Credit
U.S. Value Developing World
International Value Antero Peak Group
Global Value
Lipper Percentile/Ranking
31 December 2020
Team Fund Name Category 1 Yr 3 Yr 5 Yr 10 Yr Inception
Global Opportunities (ARTRX) Global Multi-Cap Growth
21st
39/192
20th
33/170
13th
16/125
22nd
16/73
15th
8/55
Global Discovery (APFDX) Global Small-/Mid-Cap
11th
14/136
1st
1/116
1st
1/114
Mid Cap (ARTMX) Multi-Cap Growth
16th
64/405
13th
48/376
30th
103/343
19th
50/265
2nd
1/62
Small Cap (ARTSX) Small-Cap Growth
11th
71/670
7th
38/627
6th
28/539
2nd
6/406
34th
18/53
Global Equity (ARTHX) Global Multi-Cap Growth
51st
98/192
30th
50/170
43rd
53/125
32nd
23/73
28th
18/64
International (ARTIX) International Large-Cap Growth
96th
271/282
73rd
181/248
83rd
172/207
42nd
62/149
5th
1/22
International Small-Mid (ARTJX) International Small/Mid-Cap Growth
13th
28/216
6th
11/196
27th
43/159
20th
19/97
14th
5/36
Value (ARTLX) Multi-Cap Value
11th
62/581
19th
103/546
2nd
8/462
25th
85/341
26th
65/255
Mid Cap Value (ARTQX) Mid-Cap Value
24th
36/150
47th
65/140
36th
46/128
58th
54/93
10th
2/21
International Value (ARTKX) International Large-Cap Core
50th
57/115
35th
36/102
27th
23/85
8th
5/64
4th
1/30
Global Value (ARTGX) Global Multi-Cap Value
39th
56/145
55th
77/141
38th
43/115
4th
2/63
3rd
1/47
Sustainable Emerging Markets (ARTZX) Emerging Markets
39th
299/768
41st
271/666
22nd
125/575
66th
186/285
65th
128/196
High Income (ARTFX) High Yield
5th
22/508
5th
20/463
4th
13/399
1st
3/351
Developing World (ARTYX) Emerging Markets
1st
3/768
1st
3/666
1st
3/575
1st
3/541
Focus (ARTTX) Global Large-Cap Growth
30th
61/207
8th
14/175
6th
9/169
Lipper rankings are based on total return of a fund’s stated share class, are historical and do not represent future results. The number of funds in the category may include several share classes of the same mutual fund which may have a material impact on the fund's ranking within the category. View Important Disclosures for Fund Inceptions. 

Category rankings modified by Artisan Partners to show where Artisan Mid Cap Value Fund would have ranked if Lipper Inc. had included it in the Mid-Cap Value category. Lipper Inc. classified the Fund in the Mid-Cap Core category and in that category, the Fund ranked as follows (#Rank/Fund in Category): 1 Yr (248/340), 3 Yr (240/314), 5 Yr (155/257), 10 Yr (129/179) and since inception (13/68). 

Past performance does not guarantee future results. View Fund Performance.  
Mutual fund investing is subject to risks. Investment returns and principal values will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 

Fund Inception dates: Artisan Developing World Fund 29 June 2015, Artisan Focus Fund 24 Apr 2017, Artisan Global Discovery Fund 21 Aug 2017, Artisan Global Equity Fund 29 Mar 2010,  Artisan Global Opportunities Fund 22 Sep 2008, Artisan Global Value Fund 10 Dec 2007, Artisan High Income Fund 19 Mar 2014, Artisan International Fund 28 Dec 1995, Artisan International Small Cap Fund 21 Dec 2001, Artisan International Value Fund 23 Sep 2002, Artisan Mid Cap Fund 27 Jun 1997, Artisan Mid Cap Value Fund 28 Mar 2001, Artisan Small Cap Fund 28 Mar 1995, Artisan Sustainable Emerging Markets Fund 2 Jun 2008, and Artisan Value Fund 27 Mar 2006.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

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The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. Performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months. Click here  for more detailed information about Morningstar’s Analyst Rating, including its methodology.