OANCX vs. OAKCX

Last updated Jun 5, 2026

OANCX (Oakmark Bond Fund) and OAKCX (Oakmark Bond Fund Investor Class) are both mutual funds - OANCX is a Intermediate Core-Plus Bond fund managed by Oakmark, while OAKCX is a Multisector Bonds fund actively managed by Oakmark. Over the past 3 years, OANCX returned 5.11%/yr vs 4.87%/yr for OAKCX. With a 0.97 correlation, they move nearly in lockstep. OANCX charges 0.52%/yr vs 0.74%/yr for OAKCX.

Performance

OANCX vs. OAKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund (OANCX) and Oakmark Bond Fund Investor Class (OAKCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OANCX achieves a 0.56% return, which is significantly higher than OAKCX's 0.45% return.

OANCX

• 1D: -0.22%
• 1M: 0.25%
• YTD: 0.56%
• 6M: 0.63%
• 1Y: 5.52%
• 3Y*: 5.11%
• 5Y*: 0.95%
• 10Y*: —

OAKCX

• 1D: -0.22%
• 1M: 0.23%
• YTD: 0.45%
• 6M: 0.50%
• 1Y: 5.25%
• 3Y*: 4.87%
• 5Y*: —
• 10Y*: —

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

OANCX vs. OAKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OANCX Oakmark Bond Fund	0.56%	7.05%	3.19%	6.12%	-9.67%
OAKCX Oakmark Bond Fund Investor Class	0.45%	6.85%	2.90%	5.91%	-9.75%

Correlation

The correlation between OANCX and OAKCX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.97

The correlation between OANCX and OAKCX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

OANCX vs. OAKCX — Risk / Return Rank

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

OANCX

OANCX Risk / Return Rank: 38
OANCX Sharpe Ratio Rank: 38
OANCX Sortino Ratio Rank: 40
OANCX Omega Ratio Rank: 36
OANCX Calmar Ratio Rank: 43
OANCX Martin Ratio Rank: 34

OAKCX

OAKCX Risk / Return Rank: 37
OAKCX Sharpe Ratio Rank: 37
OAKCX Sortino Ratio Rank: 40
OAKCX Omega Ratio Rank: 37
OAKCX Calmar Ratio Rank: 38
OAKCX Martin Ratio Rank: 32

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.

OANCX vs. OAKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Bond Fund (OANCX) and Oakmark Bond Fund Investor Class (OAKCX). 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.

	OANCX	OAKCX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.67	+0.04
Sortino ratio: Return per unit of downside risk	2.55	2.52	+0.03
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.44	2.23	+0.21
Martin ratio: Return relative to average drawdown	7.48	6.97	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OANCX vs. OAKCX - Sharpe Ratio Comparison

The current OANCX Sharpe Ratio is 1.71, which is comparable to the OAKCX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of OANCX and OAKCX, 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

	OANCX	OAKCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.67	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.24	+0.12

Drawdowns

OANCX vs. OAKCX - Drawdown Comparison

The maximum OANCX drawdown since its inception was -15.58%, which is greater than OAKCX's maximum drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for OANCX and OAKCX.

Drawdown Indicators

	OANCX	OAKCX	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-13.38%	-2.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-2.63%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-5.50%	-5.56%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-15.58%	—	—
Current Drawdown Current decline from peak	-1.25%	-1.32%	+0.07%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.81%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	0.84%	-0.02%

Volatility

OANCX vs. OAKCX - Volatility Comparison

Oakmark Bond Fund (OANCX) and Oakmark Bond Fund Investor Class (OAKCX) have volatilities of 1.21% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OANCX	OAKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	1.24%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	2.51%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	3.51%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.02%	5.36%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	5.36%	-0.69%

OANCX vs. OAKCX - Expense Ratio Comparison

OANCX has a 0.52% expense ratio, which is lower than OAKCX's 0.74% expense ratio.

Dividends

OANCX vs. OAKCX - Dividend Comparison

OANCX's dividend yield for the trailing twelve months is around 4.87%, more than OAKCX's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
OAKCX Oakmark Bond Fund Investor Class	4.60%	3.57%	4.37%	3.62%	2.77%	0.00%	0.00%
OANCX Oakmark Bond Fund	4.87%	3.76%	4.53%	3.82%	2.97%	3.07%	1.24%

Frequently Asked Questions

Can I hold both OANCX and OAKCX in my portfolio?

With a correlation of 0.95, OANCX and OAKCX 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, OANCX or OAKCX?

OAKCX has higher volatility (1.24%) compared to OANCX (1.21%). In terms of maximum drawdown, OANCX dropped -15.58% vs OAKCX's -13.38%.

Which has better risk-adjusted returns?

OANCX currently has the higher Sharpe Ratio (1.71 vs 1.67), 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.