OAKCX vs. OANCX

Last updated Jun 24, 2026

OAKCX (Oakmark Bond Fund Investor Class) and OANCX (Oakmark Bond Fund) are both mutual funds - OAKCX is a Multisector Bonds fund actively managed by Oakmark, while OANCX is a Intermediate Core-Plus Bond fund managed by Oakmark. Over the past 3 years, OAKCX returned 4.90%/yr vs 5.14%/yr for OANCX. With a 0.97 correlation, they move nearly in lockstep. OAKCX charges 0.74%/yr vs 0.52%/yr for OANCX.

Performance

OAKCX vs. OANCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund Investor Class (OAKCX) and Oakmark Bond Fund (OANCX). 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 OANCX's 0.90% return.

OAKCX

• 1D: 0.00%
• 1M: 0.80%
• YTD: 0.79%
• 6M: 0.84%
• 1Y: 5.01%
• 3Y*: 4.90%
• 5Y*: —
• 10Y*: —

OANCX

• 1D: 0.00%
• 1M: 0.82%
• YTD: 0.90%
• 6M: 0.97%
• 1Y: 5.29%
• 3Y*: 5.14%
• 5Y*: 0.98%
• 10Y*: —

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

OAKCX vs. OANCX - 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%
OANCX Oakmark Bond Fund	0.90%	7.05%	3.19%	6.12%	-9.66%

Correlation

The correlation between OAKCX and OANCX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022	0.97

The correlation between OAKCX and OANCX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

OAKCX vs. OANCX — Risk / Return Rank

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

OAKCX

OAKCX Risk / Return Rank: 32
OAKCX Sharpe Ratio Rank: 32
OAKCX Sortino Ratio Rank: 35
OAKCX Omega Ratio Rank: 33
OAKCX Calmar Ratio Rank: 32
OAKCX Martin Ratio Rank: 27

OANCX

OANCX Risk / Return Rank: 34
OANCX Sharpe Ratio Rank: 34
OANCX Sortino Ratio Rank: 35
OANCX Omega Ratio Rank: 32
OANCX Calmar Ratio Rank: 38
OANCX Martin Ratio Rank: 30

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. OANCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Bond Fund Investor Class (OAKCX) and Oakmark Bond Fund (OANCX). 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	OANCX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.55	-0.03
Sortino ratio: Return per unit of downside risk	2.26	2.29	-0.04
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.00	2.20	-0.20
Martin ratio: Return relative to average drawdown	5.97	6.46	-0.50

OAKCX vs. OANCX - Sharpe Ratio Comparison

The current OAKCX Sharpe Ratio is 1.52, which is comparable to the OANCX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of OAKCX and OANCX, 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. OANCX - Drawdown Comparison

The maximum OAKCX drawdown since its inception was -13.38%, smaller than the maximum OANCX drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for OAKCX and OANCX.

Drawdown Indicators

	OAKCX	OANCX	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-15.58%	+2.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-2.52%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-5.50%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.58%	—
Current Drawdown Current decline from peak	-0.99%	-0.92%	-0.07%
Average Drawdown Average peak-to-trough decline	-4.76%	-4.67%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.86%	+0.02%

Volatility

OAKCX vs. OANCX - Volatility Comparison

Oakmark Bond Fund Investor Class (OAKCX) and Oakmark Bond Fund (OANCX) have volatilities of 1.10% and 1.10%, 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

	OAKCX	OANCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.10%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	2.69%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	3.59%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.35%	5.03%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.35%	4.67%	+0.68%

OAKCX vs. OANCX - Expense Ratio Comparison

OAKCX has a 0.74% expense ratio, which is higher than OANCX's 0.52% expense ratio.

Dividends

OAKCX vs. OANCX - Dividend Comparison

OAKCX's dividend yield for the trailing twelve months is around 4.59%, less than OANCX's 4.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
OAKCX Oakmark Bond Fund Investor Class	4.59%	3.57%	4.37%	3.62%	2.77%	0.00%	0.00%
OANCX Oakmark Bond Fund	4.85%	3.76%	4.53%	3.82%	2.97%	3.07%	1.24%

Frequently Asked Questions

Can I hold both OAKCX and OANCX in my portfolio?

With a correlation of 0.95, OAKCX and OANCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OAKCX or OANCX?

OANCX has higher volatility (1.10%) compared to OAKCX (1.10%). In terms of maximum drawdown, OAKCX dropped -13.38% vs OANCX's -15.58%.

Which has better risk-adjusted returns?

OANCX currently has the higher Sharpe Ratio (1.55 vs 1.52), 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.