OAKM vs. OAKMX

Last updated Aug 2, 2026

OAKM (Oakmark U.S. Large Cap ETF) and OAKMX (Oakmark Fund Investor Class) are both Large Cap Value Equities funds from Oakmark. Both are actively managed. Over the past year, OAKM returned 20.02% vs 16.84% for OAKMX. Their 0.98 correlation means they have historically moved very closely together. OAKM charges 0.59%/yr vs 0.89%/yr for OAKMX.

Performance

OAKM vs. OAKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark U.S. Large Cap ETF (OAKM) and Oakmark Fund Investor Class (OAKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with OAKM at 6.38% and OAKMX at 6.38%.

OAKM

• 1D: -0.30%
• 1M: 3.57%
• 6M: 6.12%
• YTD: 6.38%
• 1Y: 20.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.03%

OAKMX

• 1D: -0.32%
• 1M: 3.39%
• 6M: 6.34%
• YTD: 6.38%
• 1Y: 16.84%
• 3Y*: 14.26%
• 5Y*: 11.20%
• 10Y*: 13.92%
• ALL TIME*: 12.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OAKM Oakmark U.S. Large Cap ETF	$4.67M	$4.31M	$6.02M
OAKMX Oakmark Fund Investor Class	$0.00	$0.00	$0.00

OAKM vs. OAKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OAKM Oakmark U.S. Large Cap ETF	6.38%	21.46%	-5.20%
OAKMX Oakmark Fund Investor Class	6.38%	14.13%	-4.96%

Correlation

The correlation between OAKM and OAKMX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.98

The correlation between OAKM and OAKMX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

OAKM vs. OAKMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OAKM

OAKM Risk / Return Rank: 56
OAKM Sharpe Ratio Rank: 53
OAKM Sortino Ratio Rank: 55
OAKM Omega Ratio Rank: 52
OAKM Calmar Ratio Rank: 70
OAKM Martin Ratio Rank: 52

OAKMX

OAKMX Risk / Return Rank: 38
OAKMX Sharpe Ratio Rank: 32
OAKMX Sortino Ratio Rank: 33
OAKMX Omega Ratio Rank: 31
OAKMX Calmar Ratio Rank: 57
OAKMX Martin Ratio Rank: 34

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OAKM vs. OAKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark U.S. Large Cap ETF (OAKM) and Oakmark Fund Investor Class (OAKMX). 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.

	OAKM	OAKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.00	+0.30
Sortino ratio: Return per unit of downside risk	1.92	1.51	+0.41
Omega ratio: Gain probability vs. loss probability	1.23	1.18	+0.05
Calmar ratio: Return relative to maximum drawdown	2.44	1.94	+0.51
Martin ratio: Return relative to average drawdown	6.15	4.80	+1.35

OAKM vs. OAKMX - Sharpe Ratio Comparison

The current OAKM Sharpe Ratio is 1.30, which is comparable to the OAKMX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of OAKM and OAKMX, 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

OAKM vs. OAKMX - Drawdown Comparison

The maximum OAKM drawdown since its inception was -15.24%, smaller than the maximum OAKMX drawdown of -56.19%. Use the drawdown chart below to compare losses from any high point for OAKM and OAKMX.

Drawdown Indicators

	OAKM	OAKMX	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-56.19%	+40.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	-6.98%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.43%	—
Current Drawdown Current decline from peak	-0.40%	-0.45%	+0.05%
Average Drawdown Average peak-to-trough decline	-2.70%	-6.37%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.82%	+0.04%

Volatility

OAKM vs. OAKMX - Volatility Comparison

The current volatility for Oakmark U.S. Large Cap ETF (OAKM) is 4.28%, while Oakmark Fund Investor Class (OAKMX) has a volatility of 4.55%. This indicates that OAKM experiences smaller price fluctuations and is considered to be less risky than OAKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKM	OAKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	4.55%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	9.77%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	13.55%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.31%	18.25%	-1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	20.31%	-4.00%

OAKM vs. OAKMX - Expense Ratio Comparison

OAKM has a 0.59% expense ratio, which is lower than OAKMX's 0.89% expense ratio.

Dividends

OAKM vs. OAKMX - Dividend Comparison

OAKM's dividend yield for the trailing twelve months is around 0.63%, less than OAKMX's 0.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKM Oakmark U.S. Large Cap ETF	0.63%	0.67%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OAKMX Oakmark Fund Investor Class	0.86%	0.92%	1.12%	1.02%	0.92%	1.94%	0.17%	8.33%	8.13%	4.06%	2.58%	1.43%

Frequently Asked Questions

Can I hold both OAKM and OAKMX in my portfolio?

With a correlation of 0.98, OAKM and OAKMX 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, OAKM or OAKMX?

OAKMX has higher volatility (4.55%) compared to OAKM (4.28%). In terms of maximum drawdown, OAKM dropped -15.24% vs OAKMX's -56.19%.

Which has better risk-adjusted returns?

OAKM currently has the higher Sharpe Ratio (1.30 vs 1.00), 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.