OAKMX vs. FSWCX

Last updated Jun 5, 2026

OAKMX (Oakmark Fund Investor Class) and FSWCX (Fidelity SAI U.S. Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, OAKMX returned 9.07%/yr vs 14.05%/yr for FSWCX. Their correlation of 0.93 suggests significant overlap in exposure. OAKMX charges 0.91%/yr vs 0.10%/yr for FSWCX.

Performance

OAKMX vs. FSWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Fund Investor Class (OAKMX) 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, OAKMX achieves a -2.30% return, which is significantly lower than FSWCX's 15.32% return.

OAKMX

• 1D: -1.38%
• 1M: -2.18%
• YTD: -2.30%
• 6M: 0.23%
• 1Y: 10.31%
• 3Y*: 14.50%
• 5Y*: 9.07%
• 10Y*: 13.24%

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)

OAKMX vs. FSWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OAKMX Oakmark Fund Investor Class	-2.30%	14.13%	16.02%	30.92%	-13.38%	34.85%	12.90%	27.14%	-12.76%	0.17%
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 OAKMX and FSWCX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.93

The correlation between OAKMX and FSWCX has been stable across timeframes, ranging from 0.83 to 0.93 - a consistent structural relationship.

Return for Risk

OAKMX vs. FSWCX — Risk / Return Rank

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

OAKMX

OAKMX Risk / Return Rank: 12
OAKMX Sharpe Ratio Rank: 9
OAKMX Sortino Ratio Rank: 10
OAKMX Omega Ratio Rank: 9
OAKMX Calmar Ratio Rank: 16
OAKMX Martin Ratio Rank: 13

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.

OAKMX vs. FSWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Fund Investor Class (OAKMX) 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.

	OAKMX	FSWCX	Difference
Sharpe ratio: Return per unit of total volatility	0.76	3.42	-2.65
Sortino ratio: Return per unit of downside risk	1.18	4.70	-3.52
Omega ratio: Gain probability vs. loss probability	1.14	1.63	-0.48
Calmar ratio: Return relative to maximum drawdown	1.43	6.63	-5.20
Martin ratio: Return relative to average drawdown	3.64	23.30	-19.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAKMX vs. FSWCX - Sharpe Ratio Comparison

The current OAKMX Sharpe Ratio is 0.76, which is lower than the FSWCX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of OAKMX 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

	OAKMX	FSWCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	3.42	-2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.85	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.59	+0.12

Drawdowns

OAKMX vs. FSWCX - Drawdown Comparison

The maximum OAKMX drawdown since its inception was -56.19%, which is greater than FSWCX's maximum drawdown of -41.41%. Use the drawdown chart below to compare losses from any high point for OAKMX and FSWCX.

Drawdown Indicators

	OAKMX	FSWCX	Difference
Max Drawdown Largest peak-to-trough decline	-56.19%	-41.41%	-14.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-5.77%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-17.05%	-16.13%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.68%	-19.62%	-4.06%
Max Drawdown (10Y) Largest decline over 10 years	-41.43%	—	—
Current Drawdown Current decline from peak	-4.80%	-0.77%	-4.03%
Average Drawdown Average peak-to-trough decline	-6.39%	-5.57%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.64%	+1.09%

Volatility

OAKMX vs. FSWCX - Volatility Comparison

Oakmark Fund Investor Class (OAKMX) has a higher volatility of 3.21% compared to Fidelity SAI U.S. Value Index Fund (FSWCX) at 2.89%. This indicates that OAKMX'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

	OAKMX	FSWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	2.89%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	7.69%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	11.23%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	16.71%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	20.78%	-0.38%

OAKMX vs. FSWCX - Expense Ratio Comparison

OAKMX has a 0.91% expense ratio, which is higher than FSWCX's 0.10% expense ratio.

Dividends

OAKMX vs. FSWCX - Dividend Comparison

OAKMX's dividend yield for the trailing twelve months is around 0.94%, 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%
OAKMX Oakmark Fund Investor Class	0.94%	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 OAKMX and FSWCX in my portfolio?

OAKMX and FSWCX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKMX or FSWCX?

OAKMX has higher volatility (3.21%) compared to FSWCX (2.89%). In terms of maximum drawdown, OAKMX dropped -56.19% vs FSWCX's -41.41%.

Which has better risk-adjusted returns?

FSWCX currently has the higher Sharpe Ratio (3.42 vs 0.76), 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.