OAKCX vs. BWDTX

Last updated Jun 23, 2026

OAKCX (Oakmark Bond Fund Investor Class) and BWDTX (Boyd Watterson Limited Duration Enhanced Income Fund) are both Multisector Bonds funds. Over the past 3 years, OAKCX returned 4.94%/yr vs 6.50%/yr for BWDTX. A 0.65 correlation means they provide meaningful diversification when combined. OAKCX charges 0.74%/yr vs 0.40%/yr for BWDTX.

Performance

OAKCX vs. BWDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund Investor Class (OAKCX) and Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAKCX achieves a 0.79% return, which is significantly lower than BWDTX's 1.78% return.

OAKCX

• 1D: 0.22%
• 1M: 0.80%
• YTD: 0.79%
• 6M: 0.95%
• 1Y: 5.25%
• 3Y*: 4.94%
• 5Y*: —
• 10Y*: —

BWDTX

• 1D: 0.00%
• 1M: 0.50%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 5.93%
• 3Y*: 6.50%
• 5Y*: 4.25%
• 10Y*: —

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

OAKCX vs. BWDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OAKCX Oakmark Bond Fund Investor Class	0.79%	6.85%	2.90%	5.91%	-9.75%
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	1.78%	7.14%	4.92%	9.80%	-2.29%

Correlation

The correlation between OAKCX and BWDTX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022	0.65

The correlation between OAKCX and BWDTX has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

Return for Risk

OAKCX vs. BWDTX — Risk / Return Rank

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

OAKCX

OAKCX Risk / Return Rank: 33
OAKCX Sharpe Ratio Rank: 33
OAKCX Sortino Ratio Rank: 35
OAKCX Omega Ratio Rank: 33
OAKCX Calmar Ratio Rank: 33
OAKCX Martin Ratio Rank: 28

BWDTX

BWDTX Risk / Return Rank: 98
BWDTX Sharpe Ratio Rank: 99
BWDTX Sortino Ratio Rank: 99
BWDTX Omega Ratio Rank: 98
BWDTX Calmar Ratio Rank: 96
BWDTX Martin Ratio Rank: 98

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.

OAKCX vs. BWDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Bond Fund Investor Class (OAKCX) and Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX). 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.

	OAKCX	BWDTX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	4.57	-3.02
Sortino ratio: Return per unit of downside risk	2.31	7.77	-5.46
Omega ratio: Gain probability vs. loss probability	1.28	2.34	-1.05
Calmar ratio: Return relative to maximum drawdown	2.05	5.98	-3.93
Martin ratio: Return relative to average drawdown	6.12	30.22	-24.10

OAKCX vs. BWDTX - Sharpe Ratio Comparison

The current OAKCX Sharpe Ratio is 1.55, which is lower than the BWDTX Sharpe Ratio of 4.57. The chart below compares the historical Sharpe Ratios of OAKCX and BWDTX, 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

OAKCX vs. BWDTX - Drawdown Comparison

The maximum OAKCX drawdown since its inception was -13.38%, which is greater than BWDTX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for OAKCX and BWDTX.

Drawdown Indicators

	OAKCX	BWDTX	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-10.06%	-3.32%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-1.00%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-2.21%	-3.35%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.35%	—
Current Drawdown Current decline from peak	-0.99%	-0.10%	-0.89%
Average Drawdown Average peak-to-trough decline	-4.77%	-0.67%	-4.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.20%	+0.68%

Volatility

OAKCX vs. BWDTX - Volatility Comparison

Oakmark Bond Fund Investor Class (OAKCX) has a higher volatility of 1.21% compared to Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) at 0.39%. This indicates that OAKCX's price experiences larger fluctuations and is considered to be riskier than BWDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKCX	BWDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	0.39%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	1.04%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	1.30%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.35%	2.21%	+3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.35%	2.20%	+3.15%

OAKCX vs. BWDTX - Expense Ratio Comparison

OAKCX has a 0.74% expense ratio, which is higher than BWDTX's 0.40% expense ratio.

Dividends

OAKCX vs. BWDTX - Dividend Comparison

OAKCX's dividend yield for the trailing twelve months is around 4.59%, less than BWDTX's 5.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	5.64%	5.70%	4.13%	5.51%	3.80%	3.20%	3.18%	3.47%	4.18%	2.90%	1.35%
OAKCX Oakmark Bond Fund Investor Class	4.59%	3.57%	4.37%	3.62%	2.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OAKCX and BWDTX in my portfolio?

OAKCX and BWDTX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKCX or BWDTX?

OAKCX has higher volatility (1.21%) compared to BWDTX (0.39%). In terms of maximum drawdown, OAKCX dropped -13.38% vs BWDTX's -10.06%.

Which has better risk-adjusted returns?

BWDTX currently has the higher Sharpe Ratio (4.57 vs 1.55), 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.