Fund Evaluator:

Artisan Emerging Markets Debt Opp Inv Overview

Artisan Emerging Markets Debt Opp Inv (APFOX) is an actively managed Taxable Bond Emerging Markets Bond fund. Artisan Partners Funds launched the fund in 2022.

The investment seeks to provide total return through a combination of current income and long-term capital appreciation. Under normal circumstances, the fund invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in emerging market debt securities or instruments that have similar economic characteristics. These securities and other instruments include instruments issued or guaranteed by companies, financial institutions and government entities and/or their agencies and instrumentalities domiciled in or with exposure to emerging market countries. The fund is non-diversified.

About Artisan Emerging Markets Debt Opp Inv (APFOX)

There are 2 members of the management team with an average tenure of 4.23 years: Michael Cirami (2022), Sarah Orvin (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: JPM JEMB Hard Currency LC 50-50 index with a weighting of 100% and JPM EMBI Global Diversified TR USD index with a weighting of 100%. Artisan Emerging Markets Debt Opp Inv has 266 securities in its portfolio. The top 10 holdings constitute 32.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Artisan Emerging Markets Debt Opp Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Artisan Emerging Markets Debt Opp Inv has 72.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.2%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 72.7% (0.1% domestic bond, 72.6% foreign bond and 0.3% convertible bond). Artisan Emerging Markets Debt Opp Inv has 26.3% of the portfolio in cash.

Assets Under Management

The fund has $15 million in total assets, which is below the $325 million average for the Emerging Markets Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

APFOX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Artisan Emerging Markets Debt Opp Inv expense ratio is high compared to funds in the Emerging Markets Bond category. Artisan Emerging Markets Debt Opp Inv has an expense ratio of 1.26%, which is 24% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Artisan Emerging Markets Debt Opp Inv. By way of comparison, the average portfolio turnover is 82% for the Emerging Markets Bond category.

Recently, in the month of June 2026, Artisan Emerging Markets Debt Opp Inv returned 1.4%, which earned it a grade of A, as the Emerging Markets Bond category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Artisan Emerging Markets Debt Opp Inv has a trailing yield of 7.49%, which is above the 5.95% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Artisan Emerging Markets Debt Opp Inv Grades

Year to date, the fund has returned 6.1%, 2.7 percentage points better than the category, which translates into a grade of A. The fund has returned 14.9% over the past year (grade of A) and 11.9% over the past three years (grade of A).

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