OAKMX vs. OAKBX

Last updated Jun 5, 2026

OAKMX (Oakmark Fund Investor Class) and OAKBX (Oakmark Equity and Income Fund) are both mutual funds - OAKMX is a Large Cap Value Equities fund managed by Oakmark, while OAKBX is a Diversified Portfolio fund managed by Oakmark. Over the past 10 years, OAKMX returned 13.24%/yr vs 8.99%/yr for OAKBX. Their correlation of 0.88 suggests significant overlap in exposure. OAKMX charges 0.91%/yr vs 0.83%/yr for OAKBX.

Performance

OAKMX vs. OAKBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Fund Investor Class (OAKMX) and Oakmark Equity and Income Fund (OAKBX). 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 OAKBX's -0.05% return. Over the past 10 years, OAKMX has outperformed OAKBX with an annualized return of 13.24%, while OAKBX has yielded a comparatively lower 8.99% annualized 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%

OAKBX

• 1D: -0.82%
• 1M: -0.61%
• YTD: -0.05%
• 6M: 1.76%
• 1Y: 9.03%
• 3Y*: 10.46%
• 5Y*: 5.93%
• 10Y*: 8.99%

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

OAKMX vs. OAKBX - 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%	21.12%
OAKBX Oakmark Equity and Income Fund	-0.05%	11.05%	8.73%	17.39%	-12.94%	29.12%	8.68%	19.39%	-8.38%	14.43%

Correlation

The correlation between OAKMX and OAKBX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 1, 1995	0.88

The correlation between OAKMX and OAKBX has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.

Return for Risk

OAKMX vs. OAKBX — 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

OAKBX

OAKBX Risk / Return Rank: 15
OAKBX Sharpe Ratio Rank: 15
OAKBX Sortino Ratio Rank: 15
OAKBX Omega Ratio Rank: 14
OAKBX Calmar Ratio Rank: 15
OAKBX Martin Ratio Rank: 16

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. OAKBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Fund Investor Class (OAKMX) and Oakmark Equity and Income Fund (OAKBX). 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	OAKBX	Difference
Sharpe ratio: Return per unit of total volatility	0.76	1.07	-0.31
Sortino ratio: Return per unit of downside risk	1.18	1.61	-0.43
Omega ratio: Gain probability vs. loss probability	1.14	1.19	-0.05
Calmar ratio: Return relative to maximum drawdown	1.43	1.34	+0.09
Martin ratio: Return relative to average drawdown	3.64	4.37	-0.73
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. OAKBX - Sharpe Ratio Comparison

The current OAKMX Sharpe Ratio is 0.76, which is comparable to the OAKBX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of OAKMX and OAKBX, 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	OAKBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	1.07	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.49	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.69	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.85	-0.15

Drawdowns

OAKMX vs. OAKBX - Drawdown Comparison

The maximum OAKMX drawdown since its inception was -56.19%, which is greater than OAKBX's maximum drawdown of -31.31%. Use the drawdown chart below to compare losses from any high point for OAKMX and OAKBX.

Drawdown Indicators

	OAKMX	OAKBX	Difference
Max Drawdown Largest peak-to-trough decline	-56.19%	-31.31%	-24.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-6.90%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.05%	-10.91%	-6.14%
Max Drawdown (5Y) Largest decline over 5 years	-23.68%	-20.41%	-3.27%
Max Drawdown (10Y) Largest decline over 10 years	-41.43%	-30.19%	-11.24%
Current Drawdown Current decline from peak	-4.80%	-2.03%	-2.77%
Average Drawdown Average peak-to-trough decline	-6.39%	-3.77%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.11%	+0.62%

Volatility

OAKMX vs. OAKBX - Volatility Comparison

Oakmark Fund Investor Class (OAKMX) has a higher volatility of 3.21% compared to Oakmark Equity and Income Fund (OAKBX) at 2.41%. This indicates that OAKMX's price experiences larger fluctuations and is considered to be riskier than OAKBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKMX	OAKBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	2.41%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	6.31%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	8.63%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	12.13%	+6.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	13.05%	+7.35%

OAKMX vs. OAKBX - Expense Ratio Comparison

OAKMX has a 0.91% expense ratio, which is higher than OAKBX's 0.83% expense ratio.

Dividends

OAKMX vs. OAKBX - Dividend Comparison

OAKMX's dividend yield for the trailing twelve months is around 0.94%, less than OAKBX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKBX Oakmark Equity and Income Fund	2.21%	2.16%	2.05%	2.28%	1.44%	14.26%	4.17%	9.07%	10.05%	8.09%	4.13%	6.53%
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 OAKBX in my portfolio?

With a correlation of 0.95, OAKMX and OAKBX 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, OAKMX or OAKBX?

OAKMX has higher volatility (3.21%) compared to OAKBX (2.41%). In terms of maximum drawdown, OAKMX dropped -56.19% vs OAKBX's -31.31%.

Which has better risk-adjusted returns?

OAKBX currently has the higher Sharpe Ratio (1.07 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.