OANMX vs. OAKBX

Last updated Jun 5, 2026

OANMX (Oakmark Fund Institutional Class) and OAKBX (Oakmark Equity and Income Fund) are both mutual funds - OANMX is a Large Cap Value Equities fund managed by Oakmark, while OAKBX is a Diversified Portfolio fund managed by Oakmark. Over the past 5 years, OANMX returned 9.27%/yr vs 5.93%/yr for OAKBX. With a 0.95 correlation, they move nearly in lockstep. OANMX charges 0.68%/yr vs 0.83%/yr for OAKBX.

Performance

OANMX vs. OAKBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Fund Institutional Class (OANMX) and Oakmark Equity and Income Fund (OAKBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OANMX achieves a -2.20% return, which is significantly lower than OAKBX's -0.05% return.

OANMX

• 1D: -1.38%
• 1M: -2.16%
• YTD: -2.20%
• 6M: 0.36%
• 1Y: 10.56%
• 3Y*: 14.76%
• 5Y*: 9.27%
• 10Y*: —

OAKBX

• 1D: -0.82%
• 1M: -0.61%
• YTD: -0.05%
• 6M: 1.76%
• 1Y: 9.03%
• 3Y*: 10.46%
• 5Y*: 5.93%
• 10Y*: 8.99%

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

OANMX vs. OAKBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OANMX Oakmark Fund Institutional Class	-2.20%	14.38%	16.28%	31.21%	-13.18%	34.87%	13.09%	27.35%	-12.62%	15.96%
OAKBX Oakmark Equity and Income Fund	-0.05%	11.05%	8.73%	17.39%	-12.94%	29.12%	8.68%	19.39%	-8.38%	13.79%

Correlation

The correlation between OANMX and OAKBX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.95

The correlation between OANMX and OAKBX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

OANMX vs. OAKBX — Risk / Return Rank

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

OANMX

OANMX Risk / Return Rank: 12
OANMX Sharpe Ratio Rank: 10
OANMX Sortino Ratio Rank: 10
OANMX Omega Ratio Rank: 10
OANMX Calmar Ratio Rank: 17
OANMX Martin Ratio Rank: 13

OAKBX

OAKBX Risk / Return Rank: 15
OAKBX Sharpe Ratio Rank: 15
OAKBX Sortino Ratio Rank: 15
OAKBX Omega Ratio Rank: 14
OAKBX Calmar Ratio Rank: 15
OAKBX Martin Ratio Rank: 16

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. OAKBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Fund Institutional Class (OANMX) and Oakmark Equity and Income Fund (OAKBX). 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	OAKBX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	1.07	-0.29
Sortino ratio: Return per unit of downside risk	1.20	1.61	-0.41
Omega ratio: Gain probability vs. loss probability	1.14	1.19	-0.05
Calmar ratio: Return relative to maximum drawdown	1.47	1.34	+0.14
Martin ratio: Return relative to average drawdown	3.77	4.37	-0.60
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. OAKBX - Sharpe Ratio Comparison

The current OANMX Sharpe Ratio is 0.78, which is comparable to the OAKBX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of OANMX and OAKBX, 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	OAKBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	1.07	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.49	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.85	-0.27

Drawdowns

OANMX vs. OAKBX - Drawdown Comparison

The maximum OANMX drawdown since its inception was -40.08%, which is greater than OAKBX's maximum drawdown of -31.31%. Use the drawdown chart below to compare losses from any high point for OANMX and OAKBX.

Drawdown Indicators

	OANMX	OAKBX	Difference
Max Drawdown Largest peak-to-trough decline	-40.08%	-31.31%	-8.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-6.90%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-17.01%	-10.91%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-20.41%	-3.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.19%	—
Current Drawdown Current decline from peak	-4.71%	-2.03%	-2.68%
Average Drawdown Average peak-to-trough decline	-5.58%	-3.77%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.11%	+0.59%

Volatility

OANMX vs. OAKBX - Volatility Comparison

Oakmark Fund Institutional Class (OANMX) has a higher volatility of 3.21% compared to Oakmark Equity and Income Fund (OAKBX) at 2.41%. This indicates that OANMX's price experiences larger fluctuations and is considered to be riskier than OAKBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OANMX	OAKBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	2.41%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	6.31%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	8.63%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	12.13%	+6.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	13.05%	+7.59%

OANMX vs. OAKBX - Expense Ratio Comparison

OANMX has a 0.68% expense ratio, which is lower than OAKBX's 0.83% expense ratio.

Dividends

OANMX vs. OAKBX - Dividend Comparison

OANMX's dividend yield for the trailing twelve months is around 1.17%, less than OAKBX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKBX Oakmark Equity and Income Fund	2.21%	2.16%	2.05%	2.28%	1.44%	14.26%	4.17%	9.07%	10.05%	8.09%	4.13%	6.53%
OANMX Oakmark Fund Institutional Class	1.17%	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 OAKBX in my portfolio?

With a correlation of 0.95, OANMX and OAKBX 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, OANMX or OAKBX?

OANMX has higher volatility (3.21%) compared to OAKBX (2.41%). In terms of maximum drawdown, OANMX dropped -40.08% vs OAKBX's -31.31%.

Which has better risk-adjusted returns?

OAKBX currently has the higher Sharpe Ratio (1.07 vs 0.78), 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.