OAKCX vs. OAKEX

Last updated Jul 16, 2026

OAKCX (Oakmark Bond Fund Investor Class) and OAKEX (Oakmark International Small Cap Fund) are both mutual funds - OAKCX is a Multisector Bonds fund actively managed by Oakmark, while OAKEX is a Foreign Small & Mid Cap Equities fund managed by Oakmark. Over the past 3 years, OAKCX returned 4.53%/yr vs 8.99%/yr for OAKEX. At a 0.32 correlation, their price movements are largely independent. OAKCX charges 0.74%/yr vs 1.34%/yr for OAKEX.

Performance

OAKCX vs. OAKEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund Investor Class (OAKCX) and Oakmark International Small Cap Fund (OAKEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAKCX achieves a 0.24% return, which is significantly higher than OAKEX's -0.64% return.

OAKCX

• 1D: 0.23%
• 1M: -0.55%
• 6M: -0.21%
• YTD: 0.24%
• 1Y: 4.51%
• 3Y*: 4.53%
• 5Y*: —
• 10Y*: —

OAKEX

• 1D: 0.46%
• 1M: -0.46%
• 6M: -1.76%
• YTD: -0.64%
• 1Y: -0.49%
• 3Y*: 8.99%
• 5Y*: 4.58%
• 10Y*: 8.02%

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

OAKCX vs. OAKEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OAKCX Oakmark Bond Fund Investor Class	0.24%	6.85%	2.90%	5.91%	-9.75%
OAKEX Oakmark International Small Cap Fund	-0.64%	29.51%	-3.00%	19.59%	-10.00%

Correlation

The correlation between OAKCX and OAKEX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022	0.32

Return for Risk

OAKCX vs. OAKEX — Risk / Return Rank

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

OAKCX

OAKCX Risk / Return Rank: 30
OAKCX Sharpe Ratio Rank: 32
OAKCX Sortino Ratio Rank: 32
OAKCX Omega Ratio Rank: 30
OAKCX Calmar Ratio Rank: 31
OAKCX Martin Ratio Rank: 26

OAKEX

OAKEX Risk / Return Rank: 3
OAKEX Sharpe Ratio Rank: 3
OAKEX Sortino Ratio Rank: 3
OAKEX Omega Ratio Rank: 3
OAKEX Calmar Ratio Rank: 3
OAKEX Martin Ratio Rank: 3

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. OAKEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Bond Fund Investor Class (OAKCX) and Oakmark International Small Cap Fund (OAKEX). 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	OAKEX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	-0.03	+1.26
Sortino ratio: Return per unit of downside risk	1.81	0.07	+1.74
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.21
Calmar ratio: Return relative to maximum drawdown	1.63	-0.02	+1.65
Martin ratio: Return relative to average drawdown	4.69	-0.06	+4.76

OAKCX vs. OAKEX - Sharpe Ratio Comparison

The current OAKCX Sharpe Ratio is 1.23, which is higher than the OAKEX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of OAKCX and OAKEX, 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. OAKEX - Drawdown Comparison

The maximum OAKCX drawdown since its inception was -13.38%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for OAKCX and OAKEX.

Drawdown Indicators

	OAKCX	OAKEX	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-70.12%	+56.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-17.18%	+14.55%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-17.18%	+11.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.61%	—
Current Drawdown Current decline from peak	-1.54%	-5.76%	+4.22%
Average Drawdown Average peak-to-trough decline	-4.72%	-13.47%	+8.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	6.24%	-5.33%

Volatility

OAKCX vs. OAKEX - Volatility Comparison

The current volatility for Oakmark Bond Fund Investor Class (OAKCX) is 1.09%, while Oakmark International Small Cap Fund (OAKEX) has a volatility of 4.44%. This indicates that OAKCX experiences smaller price fluctuations and is considered to be less risky than OAKEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKCX	OAKEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	4.44%	-3.35%
Volatility (6M) Calculated over the trailing 6-month period	2.73%	12.21%	-9.48%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	15.07%	-11.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	17.78%	-12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	18.29%	-12.96%

OAKCX vs. OAKEX - Expense Ratio Comparison

OAKCX has a 0.74% expense ratio, which is lower than OAKEX's 1.34% expense ratio.

Dividends

OAKCX vs. OAKEX - Dividend Comparison

OAKCX's dividend yield for the trailing twelve months is around 4.60%, less than OAKEX's 5.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKCX Oakmark Bond Fund Investor Class	4.60%	3.57%	4.37%	3.62%	2.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OAKEX Oakmark International Small Cap Fund	5.28%	5.24%	6.38%	1.83%	1.89%	0.61%	1.87%	0.21%	8.93%	3.64%	3.09%	5.06%

Frequently Asked Questions

Can I hold both OAKCX and OAKEX in my portfolio?

OAKCX and OAKEX have a correlation of 0.38, 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 OAKEX?

OAKEX has higher volatility (4.44%) compared to OAKCX (1.09%). In terms of maximum drawdown, OAKCX dropped -13.38% vs OAKEX's -70.12%.

Which has better risk-adjusted returns?

OAKCX currently has the higher Sharpe Ratio (1.23 vs -0.03), 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.