OAKGX vs. SWPPX

Last updated Jun 4, 2026

OAKGX (Oakmark Global Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - OAKGX is a Global Equities fund managed by Oakmark, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, OAKGX returned 10.16%/yr vs 15.63%/yr for SWPPX. A 0.76 correlation means they provide meaningful diversification when combined. OAKGX charges 1.11%/yr vs 0.02%/yr for SWPPX.

Performance

OAKGX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Global Fund (OAKGX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAKGX achieves a 2.87% return, which is significantly lower than SWPPX's 11.69% return. Over the past 10 years, OAKGX has underperformed SWPPX with an annualized return of 10.16%, while SWPPX has yielded a comparatively higher 15.63% annualized return.

OAKGX

• 1D: 0.07%
• 1M: 4.50%
• YTD: 2.87%
• 6M: 7.12%
• 1Y: 16.25%
• 3Y*: 10.43%
• 5Y*: 6.00%
• 10Y*: 10.16%

SWPPX

• 1D: 0.15%
• 1M: 5.83%
• YTD: 11.69%
• 6M: 11.71%
• 1Y: 28.97%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.63%

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

OAKGX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OAKGX Oakmark Global Fund	2.87%	21.19%	2.53%	17.36%	-16.86%	30.47%	9.00%	29.66%	-19.02%	27.05%
SWPPX Schwab S&P 500 Index Fund	11.69%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between OAKGX and SWPPX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 5, 1999	0.76

The correlation between OAKGX and SWPPX shifts across timeframes, from 0.61 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OAKGX vs. SWPPX — Risk / Return Rank

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

OAKGX

OAKGX Risk / Return Rank: 18
OAKGX Sharpe Ratio Rank: 19
OAKGX Sortino Ratio Rank: 20
OAKGX Omega Ratio Rank: 18
OAKGX Calmar Ratio Rank: 16
OAKGX Martin Ratio Rank: 17

SWPPX

SWPPX Risk / Return Rank: 73
SWPPX Sharpe Ratio Rank: 75
SWPPX Sortino Ratio Rank: 67
SWPPX Omega Ratio Rank: 67
SWPPX Calmar Ratio Rank: 74
SWPPX Martin Ratio Rank: 83

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.

OAKGX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Global Fund (OAKGX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	OAKGX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.52	-1.27
Sortino ratio: Return per unit of downside risk	1.86	3.41	-1.55
Omega ratio: Gain probability vs. loss probability	1.22	1.46	-0.23
Calmar ratio: Return relative to maximum drawdown	1.44	3.36	-1.92
Martin ratio: Return relative to average drawdown	4.62	15.67	-11.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAKGX vs. SWPPX - Sharpe Ratio Comparison

The current OAKGX Sharpe Ratio is 1.25, which is lower than the SWPPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of OAKGX and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OAKGX	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.52	-1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.85	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.86	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.51	-0.03

Drawdowns

OAKGX vs. SWPPX - Drawdown Comparison

The maximum OAKGX drawdown since its inception was -60.43%, which is greater than SWPPX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for OAKGX and SWPPX.

Drawdown Indicators

	OAKGX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-60.43%	-55.06%	-5.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-8.89%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-15.75%	-18.74%	+2.99%
Max Drawdown (5Y) Largest decline over 5 years	-31.54%	-24.51%	-7.03%
Max Drawdown (10Y) Largest decline over 10 years	-45.14%	-33.80%	-11.34%
Current Drawdown Current decline from peak	-1.37%	0.00%	-1.37%
Average Drawdown Average peak-to-trough decline	-9.38%	-9.95%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	1.90%	+1.71%

Volatility

OAKGX vs. SWPPX - Volatility Comparison

Oakmark Global Fund (OAKGX) has a higher volatility of 3.33% compared to Schwab S&P 500 Index Fund (SWPPX) at 2.83%. This indicates that OAKGX's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKGX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	2.83%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	8.98%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	11.87%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	16.93%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.66%	18.23%	+2.43%

OAKGX vs. SWPPX - Expense Ratio Comparison

OAKGX has a 1.11% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

OAKGX vs. SWPPX - Dividend Comparison

OAKGX's dividend yield for the trailing twelve months is around 1.08%, more than SWPPX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKGX Oakmark Global Fund	1.08%	1.11%	1.19%	4.35%	0.75%	17.98%	0.16%	3.71%	14.80%	7.50%	1.07%	2.87%
SWPPX Schwab S&P 500 Index Fund	0.99%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both OAKGX and SWPPX in my portfolio?

OAKGX and SWPPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKGX or SWPPX?

OAKGX has higher volatility (3.33%) compared to SWPPX (2.83%). In terms of maximum drawdown, OAKGX dropped -60.43% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.52 vs 1.25), 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.