Artboard > Fit to Artwork Bounds with clipping mask and raster effects
Resizing an artboard with Artboard Options -> Preset -> Fit to Artwork Bounds doesn't honor clipping masks or raster effects. The new artboard size includes artwork hidden by clipping mask, and excludes raster effects such as drop shadows.
Illustrator now honors raster effects such as clipped shadows, and fits to clipping masks instead of their clipped content, when using Fit to Artwork Bounds or Fit to Selected Art commands.
However, there is no option to not do that, and to ignore Use Preview Bounds option in general — the fitting always uses strokes. If you want to change that, vote here: https://illustrator.uservoice.com/forums/333657-illustrator-desktop-feature-requests/suggestions/46067539-an-option-to-ignore-strokes-when-using-fit-to-artw