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 October 2021
Team Fund Name Category 3 Yr 5 Yr 10 Yr Overall Analyst Rating
Global Opportunities (ARTRX) World Large-Stock Growth 307 262 166 307 Bronze
Global Discovery (APFDX) World Large-Stock Growth 307 307 Bronze
Mid Cap (ARTMX) Mid-Cap Growth 550 495 384 550 Bronze
Small Cap (ARTSX) Small Growth 574 504 380 574 Bronze
Global Equity (ARTHX) World Large-Stock Growth 307 262 166 307 Bronze
International (ARTIX) Foreign Large Growth 385 326 223 385 Bronze
International Small-Mid (ARTJX) Foreign Small/Mid Growth 124 108 73 124 Bronze
Value (ARTLX) Large Value 1146 1027 755 1146
Mid Cap Value (ARTQX) Mid-Cap Value 392 350 254 392
International Value (ARTKX) Foreign Large Blend 687 593 397 687 Silver
Global Value (ARTGX) World Large-Stock Value 161 147 78 161 Silver
Sustainable Emerging Markets (ARTZX) Diversified Emerging Mkts 711 606 330 711
High Income (ARTFX) High Yield Bond 631 553 631 Silver
Developing World (ARTYX) Diversified Emerging Mkts 711 606 711 Bronze
Focus (ARTTX) Large Growth 1137 1137
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. View quarterly Fund ratings.

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
30 September 2021
Team Fund Name Category 1 Yr 3 Yr 5 Yr 10 Yr Inception
Global Opportunities (ARTRX) Global Multi-Cap Growth
80th
186/232
17th
32/192
23rd
39/172
9th
8/95
6th
4/76
Global Discovery (APFDX) Global Small-/Mid-Cap
45th
72/161
14th
20/151
8th
10/134
Mid Cap (ARTMX) Multi-Cap Growth
59th
217/367
6th
20/343
25th
76/312
25th
60/247
2nd
1/59
Small Cap (ARTSX) Small-Cap Growth
93rd
654/707
10th
67/671
19th
108/595
12th
49/443
46th
24/52
Global Equity (ARTHX) Global Multi-Cap Growth
92nd
149/161
53rd
80/151
47th
53/114
37th
24/64
30th
17/57
International (ARTIX) International Large-Cap Growth
91st
279/306
80th
218/272
70th
161/232
40th
64/163
5th
1/23
International Small-Mid (ARTJX) International Small/Mid-Cap Growth
82nd
178/217
17th
33/200
25th
42/168
24th
25/107
17th
6/36
Value (ARTLX) Multi-Cap Value
32nd
195/622
19th
110/598
26th
132/516
57th
220/385
28th
75/274
Mid Cap Value (ARTQX) Mid-Cap Value
55th
103/187
55th
96/175
46th
73/159
91st
112/123
20th
6/29
International Value (ARTKX) International Large-Cap Core
5th
5/118
16th
16/101
25th
21/85
4th
2/63
4th
1/26
Global Value (ARTGX) Global Large-Cap Value
20th
8/39
63rd
25/39
60th
22/36
48th
11/22
24th
4/16
Select Equity (ARTNX) Multi-Cap Value
79th
490/622
71st
438/617
Sustainable Emerging Markets (ARTZX) Emerging Markets
49th
369/758
44th
295/680
35th
201/575
48th
149/311
74th
141/190
High Income (ARTFX) High Yield
14th
67/509
6th
26/474
4th
15/403
2nd
5/344
Developing World (ARTYX) Emerging Markets
71st
537/758
1st
3/680
1st
3/575
1st
3/523
Focus (ARTTX) Global Large-Cap Growth
44th
101/232
20th
38/192
4th
7/179
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 (67/314), 3 Yr (231/287), 5 Yr (197/249), 10 Yr (135/157) and since inception (5/55). 

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.