OEQIX vs. VOO

Last updated Jun 23, 2026

OEQIX (Oaktree Emerging Markets Equity Fund) and VOO (Vanguard S&P 500 ETF) are both funds - OEQIX is a Emerging Markets Diversified fund managed by Oaktree Funds, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, OEQIX returned 6.96%/yr vs 13.58%/yr for VOO. A 0.59 correlation means they provide meaningful diversification when combined. OEQIX charges 1.10%/yr vs 0.03%/yr for VOO.

Performance

OEQIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oaktree Emerging Markets Equity Fund (OEQIX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OEQIX achieves a 18.70% return, which is significantly higher than VOO's 9.75% return.

OEQIX

• 1D: 2.77%
• 1M: 4.52%
• YTD: 18.70%
• 6M: 20.02%
• 1Y: 49.99%
• 3Y*: 17.82%
• 5Y*: 6.96%
• 10Y*: —

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

OEQIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OEQIX Oaktree Emerging Markets Equity Fund	18.70%	46.19%	-2.39%	5.00%	-12.91%	-11.77%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	14.13%

Correlation

The correlation between OEQIX and VOO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 3, 2021	0.59

The correlation between OEQIX and VOO has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

Return for Risk

OEQIX vs. VOO — Risk / Return Rank

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

OEQIX

OEQIX Risk / Return Rank: 56
OEQIX Sharpe Ratio Rank: 57
OEQIX Sortino Ratio Rank: 43
OEQIX Omega Ratio Rank: 57
OEQIX Calmar Ratio Rank: 65
OEQIX Martin Ratio Rank: 55

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

OEQIX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oaktree Emerging Markets Equity Fund (OEQIX) and Vanguard S&P 500 ETF (VOO). 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.

	OEQIX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.17	-0.12
Sortino ratio: Return per unit of downside risk	2.54	2.93	-0.39
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.96	3.02	-0.06
Martin ratio: Return relative to average drawdown	10.49	13.58	-3.09

OEQIX vs. VOO - Sharpe Ratio Comparison

The current OEQIX Sharpe Ratio is 2.05, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of OEQIX and VOO, 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

OEQIX vs. VOO - Drawdown Comparison

The maximum OEQIX drawdown since its inception was -33.54%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for OEQIX and VOO.

Drawdown Indicators

	OEQIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.54%	-33.99%	+0.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.60%	-8.90%	-7.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.75%	-18.69%	-1.06%
Max Drawdown (5Y) Largest decline over 5 years	-33.28%	-24.52%	-8.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-2.31%	-1.74%	-0.57%
Average Drawdown Average peak-to-trough decline	-15.56%	-3.68%	-11.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	1.98%	+2.69%

Volatility

OEQIX vs. VOO - Volatility Comparison

Oaktree Emerging Markets Equity Fund (OEQIX) has a higher volatility of 11.82% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that OEQIX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OEQIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.82%	4.60%	+7.22%
Volatility (6M) Calculated over the trailing 6-month period	21.33%	9.73%	+11.60%
Volatility (1Y) Calculated over the trailing 1-year period	23.98%	12.39%	+11.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.08%	16.90%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	18.05%	+1.95%

OEQIX vs. VOO - Expense Ratio Comparison

OEQIX has a 1.10% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

OEQIX vs. VOO - Dividend Comparison

OEQIX's dividend yield for the trailing twelve months is around 1.67%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OEQIX Oaktree Emerging Markets Equity Fund	1.67%	1.98%	2.67%	2.89%	2.73%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both OEQIX and VOO in my portfolio?

OEQIX and VOO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OEQIX or VOO?

OEQIX has higher volatility (11.82%) compared to VOO (4.60%). In terms of maximum drawdown, OEQIX dropped -33.54% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 2.05), 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.