OWACX vs. OWLSX

Last updated Jun 24, 2026

OWACX (Old Westbury All Cap Core Fund) and OWLSX (Old Westbury Large Cap Strategies Fund) are both mutual funds - OWACX is a Large Cap Growth Equities fund managed by Old Westbury, while OWLSX is a Global Equities fund managed by Old Westbury. Over the past 10 years, OWACX returned 14.04%/yr vs 10.91%/yr for OWLSX. Their correlation of 0.93 suggests significant overlap in exposure. OWACX charges 0.96%/yr vs 1.09%/yr for OWLSX.

Performance

OWACX vs. OWLSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Old Westbury All Cap Core Fund (OWACX) and Old Westbury Large Cap Strategies Fund (OWLSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OWACX having a 8.13% return and OWLSX slightly lower at 8.08%. Over the past 10 years, OWACX has outperformed OWLSX with an annualized return of 14.04%, while OWLSX has yielded a comparatively lower 10.91% annualized return.

OWACX

• 1D: -0.25%
• 1M: 1.17%
• YTD: 8.13%
• 6M: 7.38%
• 1Y: 18.54%
• 3Y*: 17.06%
• 5Y*: 9.66%
• 10Y*: 14.04%

OWLSX

• 1D: -0.27%
• 1M: 0.54%
• YTD: 8.08%
• 6M: 7.50%
• 1Y: 21.42%
• 3Y*: 18.54%
• 5Y*: 8.74%
• 10Y*: 10.91%

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

OWACX vs. OWLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OWACX Old Westbury All Cap Core Fund	8.13%	10.45%	21.30%	25.93%	-22.18%	25.76%	23.61%	32.10%	-4.02%	20.93%
OWLSX Old Westbury Large Cap Strategies Fund	8.08%	17.61%	20.86%	19.74%	-22.15%	17.26%	15.36%	25.19%	-8.59%	19.40%

Correlation

The correlation between OWACX and OWLSX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.93

The correlation between OWACX and OWLSX shifts across timeframes, from 0.83 (1 year) to 0.93 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

OWACX vs. OWLSX — Risk / Return Rank

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

OWACX

OWACX Risk / Return Rank: 39
OWACX Sharpe Ratio Rank: 36
OWACX Sortino Ratio Rank: 38
OWACX Omega Ratio Rank: 36
OWACX Calmar Ratio Rank: 37
OWACX Martin Ratio Rank: 47

OWLSX

OWLSX Risk / Return Rank: 29
OWLSX Sharpe Ratio Rank: 3
OWLSX Sortino Ratio Rank: 36
OWLSX Omega Ratio Rank: 98
OWLSX Calmar Ratio Rank: 5
OWLSX Martin Ratio Rank: 4

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.

OWACX vs. OWLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Old Westbury All Cap Core Fund (OWACX) and Old Westbury Large Cap Strategies Fund (OWLSX). 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.

	OWACX	OWLSX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	0.11	+1.51
Sortino ratio: Return per unit of downside risk	2.38	2.33	+0.05
Omega ratio: Gain probability vs. loss probability	1.29	2.24	-0.94
Calmar ratio: Return relative to maximum drawdown	2.18	0.33	+1.85
Martin ratio: Return relative to average drawdown	9.32	0.39	+8.93

OWACX vs. OWLSX - Sharpe Ratio Comparison

The current OWACX Sharpe Ratio is 1.61, which is higher than the OWLSX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of OWACX and OWLSX, 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

OWACX vs. OWLSX - Drawdown Comparison

The maximum OWACX drawdown since its inception was -34.01%, smaller than the maximum OWLSX drawdown of -68.17%. Use the drawdown chart below to compare losses from any high point for OWACX and OWLSX.

Drawdown Indicators

	OWACX	OWLSX	Difference
Max Drawdown Largest peak-to-trough decline	-34.01%	-68.17%	+34.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	-68.17%	+58.24%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-68.17%	+49.01%
Max Drawdown (5Y) Largest decline over 5 years	-28.11%	-68.17%	+40.06%
Max Drawdown (10Y) Largest decline over 10 years	-34.01%	-68.17%	+34.16%
Current Drawdown Current decline from peak	-0.47%	-63.22%	+62.75%
Average Drawdown Average peak-to-trough decline	-5.08%	-19.64%	+14.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	57.25%	-55.03%

Volatility

OWACX vs. OWLSX - Volatility Comparison

Old Westbury All Cap Core Fund (OWACX) and Old Westbury Large Cap Strategies Fund (OWLSX) have volatilities of 4.79% and 4.86%, 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

	OWACX	OWLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	4.86%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	10.70%	10.06%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.47%	214.58%	-201.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	96.97%	-79.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	69.53%	-51.00%

OWACX vs. OWLSX - Expense Ratio Comparison

OWACX has a 0.96% expense ratio, which is lower than OWLSX's 1.09% expense ratio.

Dividends

OWACX vs. OWLSX - Dividend Comparison

OWACX's dividend yield for the trailing twelve months is around 8.18%, less than OWLSX's 11.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OWACX Old Westbury All Cap Core Fund	8.18%	8.18%	10.64%	8.40%	2.54%	5.90%	3.18%	9.22%	5.05%	1.99%	1.08%	2.38%
OWLSX Old Westbury Large Cap Strategies Fund	11.57%	12.51%	5.79%	0.55%	0.61%	6.60%	1.38%	4.94%	4.65%	5.86%	1.81%	2.40%

Frequently Asked Questions

Can I hold both OWACX and OWLSX in my portfolio?

OWACX and OWLSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWACX or OWLSX?

OWLSX has higher volatility (4.86%) compared to OWACX (4.79%). In terms of maximum drawdown, OWACX dropped -34.01% vs OWLSX's -68.17%.

Which has better risk-adjusted returns?

OWACX currently has the higher Sharpe Ratio (1.61 vs 0.11), 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.