INDEX vs. OAKLX

Last updated Apr 2, 2026

Compare and contrast key facts about Index Funds S&P 500 Equal Weight (INDEX) and Oakmark Select Fund (OAKLX).

INDEX is managed by Fidelity. It was launched on Mar 9, 2017. OAKLX is managed by Oakmark. It was launched on Nov 1, 1996.

Performance

INDEX vs. OAKLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Index Funds S&P 500 Equal Weight (INDEX) and Oakmark Select Fund (OAKLX). The values are adjusted to include any dividend payments, if applicable.

INDEX vs. OAKLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDEX Index Funds S&P 500 Equal Weight	-4.43%	17.77%	24.73%	10.58%	-11.84%	29.10%	12.75%	28.98%	-7.83%	18.70%
OAKLX Oakmark Select Fund	-7.99%	14.26%	14.15%	43.02%	-22.51%	34.62%	10.76%	27.70%	-24.90%	15.69%

Returns By Period

In the year-to-date period, INDEX achieves a -4.43% return, which is significantly higher than OAKLX's -7.99% return. Over the past 10 years, INDEX has outperformed OAKLX with an annualized return of 11.68%, while OAKLX has yielded a comparatively lower 10.32% annualized return.

INDEX

• 1D: 2.93%
• 1M: -5.02%
• YTD: -4.43%
• 6M: -2.12%
• 1Y: 17.21%
• 3Y*: 14.62%
• 5Y*: 9.46%
• 10Y*: 11.68%

OAKLX

• 1D: 1.55%
• 1M: -4.48%
• YTD: -7.99%
• 6M: -0.69%
• 1Y: 6.27%
• 3Y*: 15.67%
• 5Y*: 8.74%
• 10Y*: 10.32%

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

INDEX vs. OAKLX - Expense Ratio Comparison

INDEX has a 0.25% expense ratio, which is lower than OAKLX's 0.98% expense ratio.

OAKLX

Oakmark Select Fund

INDEX

Index Funds S&P 500 Equal Weight

Return for Risk

INDEX vs. OAKLX — Risk / Return Rank

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

INDEX

INDEX Risk / Return Rank: 59
INDEX Sharpe Ratio Rank: 47
INDEX Sortino Ratio Rank: 53
INDEX Omega Ratio Rank: 55
INDEX Calmar Ratio Rank: 63
INDEX Martin Ratio Rank: 75

OAKLX

OAKLX Risk / Return Rank: 13
OAKLX Sharpe Ratio Rank: 11
OAKLX Sortino Ratio Rank: 12
OAKLX Omega Ratio Rank: 12
OAKLX Calmar Ratio Rank: 16
OAKLX Martin Ratio Rank: 15

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.

INDEX vs. OAKLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Index Funds S&P 500 Equal Weight (INDEX) and Oakmark Select Fund (OAKLX). 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.

	INDEX	OAKLX	Difference
Sharpe ratio Return per unit of total volatility	0.97	0.31	+0.65
Sortino ratio Return per unit of downside risk	1.49	0.59	+0.90
Omega ratio Gain probability vs. loss probability	1.23	1.08	+0.14
Calmar ratio Return relative to maximum drawdown	1.51	0.52	+1.00
Martin ratio Return relative to average drawdown	7.28	1.55	+5.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDEX vs. OAKLX - Sharpe Ratio Comparison

The current INDEX Sharpe Ratio is 0.97, which is higher than the OAKLX Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of INDEX and OAKLX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INDEX	OAKLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	0.31	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.45	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.48	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.57	-0.02

Correlation

The correlation between INDEX and OAKLX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

INDEX vs. OAKLX - Dividend Comparison

INDEX's dividend yield for the trailing twelve months is around 1.09%, more than OAKLX's 0.42% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDEX Index Funds S&P 500 Equal Weight	1.09%	1.04%	1.97%	1.56%	3.25%	1.81%	1.53%	1.61%	3.09%	1.15%	0.00%	0.00%
OAKLX Oakmark Select Fund	0.42%	0.39%	0.31%	0.51%	0.62%	0.70%	0.00%	0.67%	5.04%	4.20%	4.88%	0.30%

Drawdowns

INDEX vs. OAKLX - Drawdown Comparison

The maximum INDEX drawdown since its inception was -38.82%, smaller than the maximum OAKLX drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for INDEX and OAKLX.

Drawdown Indicators

	INDEX	OAKLX	Difference
Max Drawdown Largest peak-to-trough decline	-38.82%	-61.15%	+22.33%
Max Drawdown (1Y) Largest decline over 1 year	-12.10%	-13.72%	+1.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-27.87%	+6.35%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	-48.42%	+9.60%
Current Drawdown Current decline from peak	-6.26%	-10.32%	+4.06%
Average Drawdown Average peak-to-trough decline	-4.69%	-9.00%	+4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	4.58%	-2.06%

Volatility

INDEX vs. OAKLX - Volatility Comparison

Index Funds S&P 500 Equal Weight (INDEX) has a higher volatility of 5.35% compared to Oakmark Select Fund (OAKLX) at 4.77%. This indicates that INDEX's price experiences larger fluctuations and is considered to be riskier than OAKLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDEX	OAKLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	4.77%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	11.20%	-1.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.28%	20.32%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	19.59%	-2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.65%	21.58%	-2.93%