OAKMX vs. SPY
Compare and contrast key facts about Oakmark Fund Investor Class (OAKMX) and State Street SPDR S&P 500 ETF (SPY).
OAKMX is managed by Oakmark. It was launched on Aug 5, 1991. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
OAKMX vs. SPY - Performance Comparison
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OAKMX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OAKMX Oakmark Fund Investor Class | -2.47% | 14.13% | 16.02% | 30.92% | -13.38% | 34.85% | 12.90% | 27.14% | -12.76% | 21.12% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, OAKMX achieves a -2.47% return, which is significantly higher than SPY's -3.65% return. Both investments have delivered pretty close results over the past 10 years, with OAKMX having a 13.51% annualized return and SPY not far ahead at 14.06%.
OAKMX
- 1D
- 1.76%
- 1M
- -3.56%
- YTD
- -2.47%
- 6M
- 2.30%
- 1Y
- 10.13%
- 3Y*
- 16.07%
- 5Y*
- 10.98%
- 10Y*
- 13.51%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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OAKMX vs. SPY - Expense Ratio Comparison
OAKMX has a 0.91% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
OAKMX vs. SPY — Risk / Return Rank
OAKMX
SPY
OAKMX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Oakmark Fund Investor Class (OAKMX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.54 | 0.96 | -0.42 |
Sortino ratioReturn per unit of downside risk | 0.87 | 1.49 | -0.62 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.23 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.53 | -0.71 |
Martin ratioReturn relative to average drawdown | 3.26 | 7.27 | -4.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OAKMX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 0.96 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.70 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.79 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.56 | +0.14 |
Correlation
The correlation between OAKMX and SPY is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OAKMX vs. SPY - Dividend Comparison
OAKMX's dividend yield for the trailing twelve months is around 0.94%, less than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
OAKMX vs. SPY - Drawdown Comparison
The maximum OAKMX drawdown since its inception was -56.19%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for OAKMX and SPY.
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Drawdown Indicators
| OAKMX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.19% | -55.19% | -1.00% |
Max Drawdown (1Y)Largest decline over 1 year | -13.46% | -12.05% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -23.68% | -24.50% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -41.43% | -33.72% | -7.71% |
Current DrawdownCurrent decline from peak | -4.97% | -5.53% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -6.41% | -9.09% | +2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 2.54% | +0.85% |
Volatility
OAKMX vs. SPY - Volatility Comparison
The current volatility for Oakmark Fund Investor Class (OAKMX) is 4.20%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.35%. This indicates that OAKMX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OAKMX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 5.35% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.34% | 9.50% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.77% | 19.06% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 17.06% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.43% | 17.92% | +2.51% |