GABAX vs. OAKMX

Last updated Jun 24, 2026

GABAX (Gabelli Asset Fund) and OAKMX (Oakmark Fund Investor Class) are both mutual funds - GABAX is a Large Cap Blend Equities fund managed by Gabelli, while OAKMX is a Large Cap Value Equities fund actively managed by Oakmark. Over the past 10 years, GABAX returned 10.22%/yr vs 13.78%/yr for OAKMX. Their correlation of 0.87 suggests significant overlap in exposure. GABAX charges 1.33%/yr vs 0.89%/yr for OAKMX.

Performance

GABAX vs. OAKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Asset Fund (GABAX) and Oakmark Fund Investor Class (OAKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GABAX achieves a 9.38% return, which is significantly higher than OAKMX's -2.01% return. Over the past 10 years, GABAX has underperformed OAKMX with an annualized return of 10.22%, while OAKMX has yielded a comparatively higher 13.78% annualized return.

GABAX

• 1D: 0.02%
• 1M: 3.09%
• YTD: 9.38%
• 6M: 8.07%
• 1Y: 21.47%
• 3Y*: 13.53%
• 5Y*: 7.31%
• 10Y*: 10.22%

OAKMX

• 1D: 0.00%
• 1M: -1.03%
• YTD: -2.01%
• 6M: -2.54%
• 1Y: 8.70%
• 3Y*: 14.33%
• 5Y*: 9.77%
• 10Y*: 13.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GABAX vs. OAKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GABAX Gabelli Asset Fund	9.38%	16.65%	8.07%	10.32%	-10.74%	18.96%	11.22%	22.44%	-7.61%	20.17%
OAKMX Oakmark Fund Investor Class	-2.01%	14.13%	16.02%	30.92%	-13.38%	34.85%	12.90%	27.14%	-12.76%	21.12%

Correlation

The correlation between GABAX and OAKMX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 5, 1991	0.87

The correlation between GABAX and OAKMX shifts across timeframes, from 0.71 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

GABAX vs. OAKMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GABAX

GABAX Risk / Return Rank: 41
GABAX Sharpe Ratio Rank: 43
GABAX Sortino Ratio Rank: 45
GABAX Omega Ratio Rank: 40
GABAX Calmar Ratio Rank: 36
GABAX Martin Ratio Rank: 41

OAKMX

OAKMX Risk / Return Rank: 11
OAKMX Sharpe Ratio Rank: 9
OAKMX Sortino Ratio Rank: 9
OAKMX Omega Ratio Rank: 8
OAKMX Calmar Ratio Rank: 15
OAKMX Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GABAX vs. OAKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Asset Fund (GABAX) and Oakmark Fund Investor Class (OAKMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GABAX	OAKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	0.68	+1.09
Sortino ratio: Return per unit of downside risk	2.59	1.07	+1.53
Omega ratio: Gain probability vs. loss probability	1.32	1.13	+0.19
Calmar ratio: Return relative to maximum drawdown	2.16	1.29	+0.86
Martin ratio: Return relative to average drawdown	8.21	3.17	+5.04

GABAX vs. OAKMX - Sharpe Ratio Comparison

The current GABAX Sharpe Ratio is 1.77, which is higher than the OAKMX Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of GABAX and OAKMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GABAX vs. OAKMX - Drawdown Comparison

The maximum GABAX drawdown since its inception was -55.44%, roughly equal to the maximum OAKMX drawdown of -56.19%. Use the drawdown chart below to compare losses from any high point for GABAX and OAKMX.

Drawdown Indicators

	GABAX	OAKMX	Difference
Max Drawdown Largest peak-to-trough decline	-55.44%	-56.19%	+0.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-6.98%	-3.49%
Max Drawdown (3Y) Largest decline over 3 years	-15.11%	-17.05%	+1.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-23.68%	+1.78%
Max Drawdown (10Y) Largest decline over 10 years	-36.65%	-41.43%	+4.78%
Current Drawdown Current decline from peak	-0.46%	-4.52%	+4.06%
Average Drawdown Average peak-to-trough decline	-5.55%	-6.39%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.84%	-0.10%

Volatility

GABAX vs. OAKMX - Volatility Comparison

Gabelli Asset Fund (GABAX) and Oakmark Fund Investor Class (OAKMX) have volatilities of 3.80% and 3.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABAX	OAKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.77%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	9.44%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	12.77%	13.20%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	18.28%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	20.41%	-3.88%

GABAX vs. OAKMX - Expense Ratio Comparison

GABAX has a 1.33% expense ratio, which is higher than OAKMX's 0.89% expense ratio.

Dividends

GABAX vs. OAKMX - Dividend Comparison

GABAX's dividend yield for the trailing twelve months is around 11.24%, more than OAKMX's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GABAX Gabelli Asset Fund	11.24%	12.29%	15.41%	8.04%	10.06%	9.78%	13.12%	10.04%	10.01%	8.69%	13.23%	13.98%
OAKMX Oakmark Fund Investor Class	0.94%	0.92%	1.12%	1.02%	0.92%	1.94%	0.17%	8.33%	8.13%	4.06%	2.58%	1.43%

Frequently Asked Questions

Can I hold both GABAX and OAKMX in my portfolio?

GABAX and OAKMX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABAX or OAKMX?

GABAX has higher volatility (3.80%) compared to OAKMX (3.77%). In terms of maximum drawdown, GABAX dropped -55.44% vs OAKMX's -56.19%.

Which has better risk-adjusted returns?

GABAX currently has the higher Sharpe Ratio (1.77 vs 0.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.