OANCX vs. OAKEX

Last updated Jul 16, 2026

OANCX (Oakmark Bond Fund) and OAKEX (Oakmark International Small Cap Fund) are both mutual funds - OANCX is a Intermediate Core-Plus Bond fund managed by Oakmark, while OAKEX is a Foreign Small & Mid Cap Equities fund managed by Oakmark. Over the past 5 years, OANCX returned 0.73%/yr vs 4.58%/yr for OAKEX. At a 0.28 correlation, their price movements are largely independent. OANCX charges 0.52%/yr vs 1.34%/yr for OAKEX.

Performance

OANCX vs. OAKEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund (OANCX) 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, OANCX achieves a 0.37% return, which is significantly higher than OAKEX's -0.64% return.

OANCX

• 1D: 0.23%
• 1M: -0.53%
• 6M: -0.18%
• YTD: 0.37%
• 1Y: 4.79%
• 3Y*: 4.78%
• 5Y*: 0.73%
• 10Y*: —

OAKEX

• 1D: 0.46%
• 1M: -0.46%
• 6M: -1.76%
• YTD: -0.64%
• 1Y: -0.49%
• 3Y*: 8.99%
• 5Y*: 4.58%
• 10Y*: 8.02%

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

OANCX vs. OAKEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OANCX Oakmark Bond Fund	0.37%	7.05%	3.19%	6.12%	-11.36%	0.49%	5.11%
OAKEX Oakmark International Small Cap Fund	-0.64%	29.51%	-3.00%	19.59%	-14.50%	17.90%	37.55%

Correlation

The correlation between OANCX and OAKEX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.28

Return for Risk

OANCX vs. OAKEX — Risk / Return Rank

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

OANCX

OANCX Risk / Return Rank: 33
OANCX Sharpe Ratio Rank: 34
OANCX Sortino Ratio Rank: 35
OANCX Omega Ratio Rank: 32
OANCX Calmar Ratio Rank: 37
OANCX Martin Ratio Rank: 29

OAKEX

OAKEX Risk / Return Rank: 3
OAKEX Sharpe Ratio Rank: 3
OAKEX Sortino Ratio Rank: 3
OAKEX Omega Ratio Rank: 3
OAKEX Calmar Ratio Rank: 3
OAKEX Martin Ratio Rank: 3

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. OAKEX - Risk-Adjusted Trends Comparison

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

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	OANCX	OAKEX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	-0.03	+1.30
Sortino ratio: Return per unit of downside risk	1.88	0.07	+1.81
Omega ratio: Gain probability vs. loss probability	1.23	1.01	+0.22
Calmar ratio: Return relative to maximum drawdown	1.81	-0.02	+1.84
Martin ratio: Return relative to average drawdown	5.15	-0.06	+5.22

OANCX vs. OAKEX - Sharpe Ratio Comparison

The current OANCX Sharpe Ratio is 1.27, which is higher than the OAKEX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of OANCX 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.

Drawdowns

OANCX vs. OAKEX - Drawdown Comparison

The maximum OANCX drawdown since its inception was -15.58%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for OANCX and OAKEX.

Drawdown Indicators

	OANCX	OAKEX	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-70.12%	+54.54%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-17.18%	+14.66%
Max Drawdown (3Y) Largest decline over 3 years	-5.50%	-17.18%	+11.68%
Max Drawdown (5Y) Largest decline over 5 years	-15.58%	-38.40%	+22.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.61%	—
Current Drawdown Current decline from peak	-1.44%	-5.76%	+4.32%
Average Drawdown Average peak-to-trough decline	-4.63%	-13.47%	+8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	6.24%	-5.35%

Volatility

OANCX vs. OAKEX - Volatility Comparison

The current volatility for Oakmark Bond Fund (OANCX) is 1.09%, while Oakmark International Small Cap Fund (OAKEX) has a volatility of 4.44%. This indicates that OANCX 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

	OANCX	OAKEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	4.44%	-3.35%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	12.21%	-9.44%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	15.07%	-11.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.04%	17.78%	-12.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	18.29%	-13.63%

OANCX vs. OAKEX - Expense Ratio Comparison

OANCX has a 0.52% expense ratio, which is lower than OAKEX's 1.34% expense ratio.

Dividends

OANCX vs. OAKEX - Dividend Comparison

OANCX's dividend yield for the trailing twelve months is around 4.87%, 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%
OANCX Oakmark Bond Fund	4.87%	3.76%	4.53%	3.82%	2.97%	3.07%	1.24%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OANCX and OAKEX in my portfolio?

OANCX and OAKEX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OANCX or OAKEX?

OAKEX has higher volatility (4.44%) compared to OANCX (1.09%). In terms of maximum drawdown, OANCX dropped -15.58% vs OAKEX's -70.12%.

Which has better risk-adjusted returns?

OANCX currently has the higher Sharpe Ratio (1.27 vs -0.03), 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.