OANMX vs. IVV

Last updated Jun 3, 2026

OANMX (Oakmark Fund Institutional Class) and IVV (iShares Core S&P 500 ETF) are both funds - OANMX is a Large Cap Value Equities fund managed by Oakmark, while IVV is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, OANMX returned 9.84%/yr vs 14.26%/yr for IVV. Their correlation of 0.83 suggests significant overlap in exposure. OANMX charges 0.68%/yr vs 0.03%/yr for IVV.

Performance

OANMX vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Fund Institutional Class (OANMX) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OANMX achieves a -0.04% return, which is significantly lower than IVV's 11.70% return.

OANMX

• 1D: 0.84%
• 1M: 0.04%
• YTD: -0.04%
• 6M: 4.43%
• 1Y: 13.42%
• 3Y*: 15.60%
• 5Y*: 9.84%
• 10Y*: —

IVV

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.70%
• 6M: 12.12%
• 1Y: 29.71%
• 3Y*: 22.74%
• 5Y*: 14.26%
• 10Y*: 15.62%

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

OANMX vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OANMX Oakmark Fund Institutional Class	-0.04%	14.38%	16.28%	31.21%	-13.18%	34.87%	13.09%	27.35%	-12.62%	15.96%
IVV iShares Core S&P 500 ETF	11.70%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	20.90%

Correlation

The correlation between OANMX and IVV is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.83

Over the past year, the correlation between OANMX and IVV has dropped to 0.62 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

OANMX vs. IVV — Risk / Return Rank

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

OANMX

OANMX Risk / Return Rank: 16
OANMX Sharpe Ratio Rank: 13
OANMX Sortino Ratio Rank: 13
OANMX Omega Ratio Rank: 12
OANMX Calmar Ratio Rank: 24
OANMX Martin Ratio Rank: 17

IVV

IVV Risk / Return Rank: 75
IVV Sharpe Ratio Rank: 77
IVV Sortino Ratio Rank: 75
IVV Omega Ratio Rank: 77
IVV Calmar Ratio Rank: 68
IVV Martin Ratio Rank: 80

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.

OANMX vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Fund Institutional Class (OANMX) and iShares Core S&P 500 ETF (IVV). 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.

	OANMX	IVV	Difference
Sharpe ratio Return per unit of total volatility	1.01	2.54	-1.53
Sortino ratio Return per unit of downside risk	1.52	3.44	-1.91
Omega ratio Gain probability vs. loss probability	1.18	1.46	-0.28
Calmar ratio Return relative to maximum drawdown	1.89	3.43	-1.54
Martin ratio Return relative to average drawdown	4.88	15.97	-11.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OANMX vs. IVV - Sharpe Ratio Comparison

The current OANMX Sharpe Ratio is 1.01, which is lower than the IVV Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of OANMX and IVV, 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

	OANMX	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	2.54	-1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.85	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.46	+0.14

Drawdowns

OANMX vs. IVV - Drawdown Comparison

The maximum OANMX drawdown since its inception was -40.08%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for OANMX and IVV.

Drawdown Indicators

	OANMX	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-40.08%	-55.25%	+15.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-8.89%	+1.96%
Max Drawdown (3Y) Largest decline over 3 years	-17.01%	-18.75%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-24.53%	+0.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-2.61%	0.00%	-2.61%
Average Drawdown Average peak-to-trough decline	-5.58%	-10.78%	+5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	1.91%	+0.77%

Volatility

OANMX vs. IVV - Volatility Comparison

Oakmark Fund Institutional Class (OANMX) and iShares Core S&P 500 ETF (IVV) have volatilities of 2.82% and 2.75%, 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

	OANMX	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.75%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	8.87%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	11.78%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	16.88%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	18.05%	+2.60%

OANMX vs. IVV - Expense Ratio Comparison

OANMX has a 0.68% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

OANMX vs. IVV - Dividend Comparison

OANMX's dividend yield for the trailing twelve months is around 1.14%, more than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
OANMX Oakmark Fund Institutional Class	1.14%	1.14%	1.34%	1.22%	1.17%	1.94%	0.33%	8.53%	8.37%	0.66%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OANMX and IVV in my portfolio?

OANMX and IVV have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OANMX or IVV?

OANMX has higher volatility (2.82%) compared to IVV (2.75%). In terms of maximum drawdown, OANMX dropped -40.08% vs IVV's -55.25%.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.54 vs 1.01), 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.