OAKLX vs. FSWCX

Last updated Jun 5, 2026

OAKLX (Oakmark Select Fund) and FSWCX (Fidelity SAI U.S. Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, OAKLX returned 8.26%/yr vs 14.05%/yr for FSWCX. Their correlation of 0.89 suggests significant overlap in exposure. OAKLX charges 0.98%/yr vs 0.10%/yr for FSWCX.

Performance

OAKLX vs. FSWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Select Fund (OAKLX) and Fidelity SAI U.S. Value Index Fund (FSWCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAKLX achieves a -1.44% return, which is significantly lower than FSWCX's 15.32% return.

OAKLX

• 1D: -1.30%
• 1M: 0.09%
• YTD: -1.44%
• 6M: 1.65%
• 1Y: 13.43%
• 3Y*: 15.37%
• 5Y*: 8.26%
• 10Y*: 10.74%

FSWCX

• 1D: -0.77%
• 1M: 5.44%
• YTD: 15.32%
• 6M: 17.70%
• 1Y: 38.57%
• 3Y*: 24.03%
• 5Y*: 14.05%
• 10Y*: —

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

OAKLX vs. FSWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OAKLX Oakmark Select Fund	-1.44%	14.26%	14.15%	43.02%	-22.51%	34.62%	10.76%	27.70%	-24.90%	0.42%
FSWCX Fidelity SAI U.S. Value Index Fund	15.32%	22.50%	19.90%	12.64%	-3.50%	30.43%	-4.44%	29.09%	-11.54%	0.77%

Correlation

The correlation between OAKLX and FSWCX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.89

The correlation between OAKLX and FSWCX shifts across timeframes, from 0.74 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OAKLX vs. FSWCX — Risk / Return Rank

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

OAKLX

OAKLX Risk / Return Rank: 11
OAKLX Sharpe Ratio Rank: 12
OAKLX Sortino Ratio Rank: 12
OAKLX Omega Ratio Rank: 11
OAKLX Calmar Ratio Rank: 11
OAKLX Martin Ratio Rank: 10

FSWCX

FSWCX Risk / Return Rank: 94
FSWCX Sharpe Ratio Rank: 95
FSWCX Sortino Ratio Rank: 93
FSWCX Omega Ratio Rank: 88
FSWCX Calmar Ratio Rank: 97
FSWCX Martin Ratio Rank: 96

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.

OAKLX vs. FSWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Select Fund (OAKLX) and Fidelity SAI U.S. Value Index Fund (FSWCX). 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.

	OAKLX	FSWCX	Difference
Sharpe ratio: Return per unit of total volatility	0.89	3.42	-2.52
Sortino ratio: Return per unit of downside risk	1.35	4.70	-3.35
Omega ratio: Gain probability vs. loss probability	1.17	1.63	-0.46
Calmar ratio: Return relative to maximum drawdown	1.06	6.63	-5.57
Martin ratio: Return relative to average drawdown	2.80	23.30	-20.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAKLX vs. FSWCX - Sharpe Ratio Comparison

The current OAKLX Sharpe Ratio is 0.89, which is lower than the FSWCX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of OAKLX and FSWCX, 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

	OAKLX	FSWCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	3.42	-2.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.85	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.59	-0.01

Drawdowns

OAKLX vs. FSWCX - Drawdown Comparison

The maximum OAKLX drawdown since its inception was -61.15%, which is greater than FSWCX's maximum drawdown of -41.41%. Use the drawdown chart below to compare losses from any high point for OAKLX and FSWCX.

Drawdown Indicators

	OAKLX	FSWCX	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-41.41%	-19.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-5.77%	-6.72%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-16.13%	-2.63%
Max Drawdown (5Y) Largest decline over 5 years	-27.87%	-19.62%	-8.25%
Max Drawdown (10Y) Largest decline over 10 years	-48.42%	—	—
Current Drawdown Current decline from peak	-3.93%	-0.77%	-3.16%
Average Drawdown Average peak-to-trough decline	-8.98%	-5.57%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	1.64%	+3.07%

Volatility

OAKLX vs. FSWCX - Volatility Comparison

Oakmark Select Fund (OAKLX) has a higher volatility of 4.44% compared to Fidelity SAI U.S. Value Index Fund (FSWCX) at 2.89%. This indicates that OAKLX's price experiences larger fluctuations and is considered to be riskier than FSWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKLX	FSWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	2.89%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	7.69%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	11.23%	+3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.59%	16.71%	+2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.57%	20.78%	+0.79%

OAKLX vs. FSWCX - Expense Ratio Comparison

OAKLX has a 0.98% expense ratio, which is higher than FSWCX's 0.10% expense ratio.

Dividends

OAKLX vs. FSWCX - Dividend Comparison

OAKLX's dividend yield for the trailing twelve months is around 0.39%, less than FSWCX's 6.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSWCX Fidelity SAI U.S. Value Index Fund	6.42%	7.40%	8.86%	9.68%	12.90%	5.71%	2.55%	2.37%	3.84%	0.07%	0.00%	0.00%
OAKLX Oakmark Select Fund	0.39%	0.39%	0.31%	0.51%	0.62%	0.70%	0.00%	0.67%	5.04%	4.20%	4.88%	0.30%

Frequently Asked Questions

Can I hold both OAKLX and FSWCX in my portfolio?

OAKLX and FSWCX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKLX or FSWCX?

OAKLX has higher volatility (4.44%) compared to FSWCX (2.89%). In terms of maximum drawdown, OAKLX dropped -61.15% vs FSWCX's -41.41%.

Which has better risk-adjusted returns?

FSWCX currently has the higher Sharpe Ratio (3.42 vs 0.89), 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.