OAKWX vs. OAKEX

Last updated Jun 5, 2026

OAKWX (Oakmark Global Select Fund) and OAKEX (Oakmark International Small Cap Fund) are both mutual funds - OAKWX is a Global Equities fund managed by Oakmark, while OAKEX is a Foreign Small & Mid Cap Equities fund managed by Oakmark. Over the past 10 years, OAKWX returned 8.70%/yr vs 7.47%/yr for OAKEX. A 0.78 correlation means they provide meaningful diversification when combined. OAKWX charges 1.10%/yr vs 1.34%/yr for OAKEX.

Performance

OAKWX vs. OAKEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Global Select Fund (OAKWX) and Oakmark International Small Cap Fund (OAKEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAKWX achieves a -4.93% return, which is significantly lower than OAKEX's -0.68% return. Over the past 10 years, OAKWX has outperformed OAKEX with an annualized return of 8.70%, while OAKEX has yielded a comparatively lower 7.47% annualized return.

OAKWX

• 1D: -0.91%
• 1M: 0.16%
• YTD: -4.93%
• 6M: -2.79%
• 1Y: 3.21%
• 3Y*: 9.15%
• 5Y*: 3.42%
• 10Y*: 8.70%

OAKEX

• 1D: -1.23%
• 1M: 1.68%
• YTD: -0.68%
• 6M: 2.44%
• 1Y: 5.12%
• 3Y*: 10.74%
• 5Y*: 3.89%
• 10Y*: 7.47%

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

OAKWX vs. OAKEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OAKWX Oakmark Global Select Fund	-4.93%	20.73%	4.68%	22.72%	-22.48%	25.99%	13.04%	29.82%	-21.20%	21.15%
OAKEX Oakmark International Small Cap Fund	-0.68%	29.51%	-3.00%	19.59%	-14.50%	17.90%	5.00%	31.91%	-23.71%	26.03%

Correlation

The correlation between OAKWX and OAKEX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 3, 2006	0.78

The correlation between OAKWX and OAKEX has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

Return for Risk

OAKWX vs. OAKEX — Risk / Return Rank

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

OAKWX

OAKWX Risk / Return Rank: 4
OAKWX Sharpe Ratio Rank: 5
OAKWX Sortino Ratio Rank: 5
OAKWX Omega Ratio Rank: 4
OAKWX Calmar Ratio Rank: 4
OAKWX Martin Ratio Rank: 4

OAKEX

OAKEX Risk / Return Rank: 5
OAKEX Sharpe Ratio Rank: 6
OAKEX Sortino Ratio Rank: 6
OAKEX Omega Ratio Rank: 6
OAKEX Calmar Ratio Rank: 5
OAKEX Martin Ratio Rank: 5

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.

OAKWX vs. OAKEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Global Select Fund (OAKWX) and Oakmark International Small Cap Fund (OAKEX). 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.

	OAKWX	OAKEX	Difference
Sharpe ratio: Return per unit of total volatility	0.28	0.44	-0.16
Sortino ratio: Return per unit of downside risk	0.51	0.72	-0.21
Omega ratio: Gain probability vs. loss probability	1.06	1.09	-0.03
Calmar ratio: Return relative to maximum drawdown	0.25	0.38	-0.13
Martin ratio: Return relative to average drawdown	0.65	1.12	-0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAKWX vs. OAKEX - Sharpe Ratio Comparison

The current OAKWX Sharpe Ratio is 0.28, which is lower than the OAKEX Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of OAKWX and OAKEX, 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

	OAKWX	OAKEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	0.44	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.22	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.40	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.43	-0.05

Drawdowns

OAKWX vs. OAKEX - Drawdown Comparison

The maximum OAKWX drawdown since its inception was -54.43%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for OAKWX and OAKEX.

Drawdown Indicators

	OAKWX	OAKEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.43%	-70.12%	+15.69%
Max Drawdown (1Y) Largest decline over 1 year	-14.26%	-17.18%	+2.92%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-17.18%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-32.79%	-38.40%	+5.61%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-49.61%	+7.54%
Current Drawdown Current decline from peak	-9.34%	-5.80%	-3.54%
Average Drawdown Average peak-to-trough decline	-9.44%	-13.49%	+4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.40%	5.78%	-0.38%

Volatility

OAKWX vs. OAKEX - Volatility Comparison

The current volatility for Oakmark Global Select Fund (OAKWX) is 2.96%, while Oakmark International Small Cap Fund (OAKEX) has a volatility of 3.69%. This indicates that OAKWX experiences smaller price fluctuations and is considered to be less risky than OAKEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKWX	OAKEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	3.69%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	11.36%	-1.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	14.88%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	17.69%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.15%	18.65%	+0.50%

OAKWX vs. OAKEX - Expense Ratio Comparison

OAKWX has a 1.10% expense ratio, which is lower than OAKEX's 1.34% expense ratio.

Dividends

OAKWX vs. OAKEX - Dividend Comparison

OAKWX's dividend yield for the trailing twelve months is around 1.51%, less than OAKEX's 5.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKEX Oakmark International Small Cap Fund	5.28%	5.24%	6.38%	1.83%	1.89%	0.61%	1.87%	0.21%	8.93%	3.64%	3.09%	5.06%
OAKWX Oakmark Global Select Fund	1.51%	1.43%	1.17%	0.83%	0.33%	14.91%	0.00%	1.17%	5.28%	5.48%	1.00%	5.60%

Frequently Asked Questions

Can I hold both OAKWX and OAKEX in my portfolio?

OAKWX and OAKEX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKWX or OAKEX?

OAKEX has higher volatility (3.69%) compared to OAKWX (2.96%). In terms of maximum drawdown, OAKWX dropped -54.43% vs OAKEX's -70.12%.

Which has better risk-adjusted returns?

OAKEX currently has the higher Sharpe Ratio (0.44 vs 0.28), 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.