Morningstar Ratings

Growth Team Global Equity Team
U.S. Value Team Global Value Team
Emerging Markets Team Credit Team
Ratings/Funds in Category
31 January 2017
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Stock 849 675 849 Silver
Mid Cap (ARTMX) Mid-Cap Growth 585 503 371 585 Silver
Small Cap (ARTSX) Small Growth 599 531 387 599 Silver
Global Equity (ARTHX) World Stock 849 675 849 Bronze
International (ARTIX) Foreign Large Growth 325 275 188 325 Silver
International Small Cap (ARTJX) Foreign Small/Mid Growth 108 97 56 108 Gold
Value (ARTLX) Large Value 1095 937 681 1095 Bronze
Mid Cap Value (ARTQX) Mid-Cap Value 338 300 207 338 Silver
Global Value (ARTGX) World Stock 849 675 849 Silver
International Value (ARTKX) Foreign Large Blend 600 533 329 600 Gold
Emerging Markets (ARTZX) Diversified Emerging Mkts 607 427 175 607
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 is a subjective evaluation performed by the mutual fund analysts of Morningstar. The Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings are based on Morningstar’s current expectations about future events; therefore, in no way does Morningstar represent ratings as a guarantee nor should they be viewed by an investor as such. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what is described. View Important Disclosures below for further details. 

Growth Team Emerging Markets Team
Global Equity Team Credit Team
U.S. Value Team Developing World Team
Global Value Team
Lipper Percentile/Ranking
31 December 2016
Team Fund Name Category 1 Yr 3 Yr 5 Yr 10 Yr Inception
Global Opportunities (ARTRX) Global Multi-Cap Growth
24th
52/223
9th
17/198
5th
7/169
4th
4/107
Mid Cap (ARTMX) Multi-Cap Growth
85th
498/591
84th
431/513
65th
286/443
12th
36/305
3rd
2/97
Small Cap (ARTSX) Small-Cap Growth
82nd
453/556
68th
343/504
54th
236/442
64th
203/321
72nd
33/45
Global Equity (ARTHX) Global Multi-Cap Growth
86th
192/223
68th
135/198
9th
15/169
6th
7/137
International (ARTIX) International Large-Cap Growth
100th
121/121
96th
98/102
38th
33/87
62nd
40/64
7th
1/15
International Small Cap (ARTJX) International Small/Mid-Cap Growth
100th
189/189
98th
147/149
61st
79/129
42nd
30/71
14th
6/43
Value (ARTLX) Multi-Cap Value Funds
1st
3/354
38th
115/308
81st
227/282
36th
78/219
31st
60/196
Mid Cap Value (ARTQX) Mid-Cap Value
16th
23/150
88th
103/117
88th
95/107
16th
12/78
12th
4/33
Global Value (ARTGX) Global Multi-Cap Value
44th
44/101
35th
25/71
11th
6/54
3rd
1/36
International Value (ARTKX) International Multi-Cap Core
11th
47/446
6th
19/344
3rd
6/288
2nd
3/168
2nd
1/94
Emerging Markets (ARTZX) Emerging Markets
12th
98/847
14th
84/630
49th
216/444
87th
199/228
High Income (ARTFX) High Yield Funds
36th
241/682
2nd
8/585
Developing World (ARTYX) Emerging Markets
28th
233/847
15th
116/794
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. 

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 Global Equity Fund 29 Mar 2010, Artisan Global Opportunities Fund 22 Sep 2008, Artisan Global Value Fund 10 Dec 2007, 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 Value Fund 27 Mar 2006, Artisan High Income Fund 19 Mar 2014, Artisan Emerging Markets Fund 2 Jun 2008 and Artisan Developing World Fund 29 June 2015. 

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. 

The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analyst's overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe.

The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a "Gold" rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a 'Silver' rating has notable advantages across several, but perhaps not all, of the five pillars-strengths that give the analysts a high level of conviction. A "Bronze"-rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a 'Neutral' rating isn't seriously flawed across the five pillars, nor does it distinguish itself very positively. A "Negative" rated fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are reevaluated at least every 14 months. View detailed information about Morningstar’s Analyst Rating, including its methodology .