OWCAX vs. OWFIX
Compare and contrast key facts about Old Westbury California Municipal Bond Fund (OWCAX) and Old Westbury Fixed Income Fund (OWFIX).
OWCAX is managed by Old Westbury. It was launched on Dec 3, 2018. OWFIX is managed by Old Westbury. It was launched on Mar 12, 1998.
Performance
OWCAX vs. OWFIX - Performance Comparison
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OWCAX vs. OWFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OWCAX Old Westbury California Municipal Bond Fund | -0.63% | 5.14% | 0.32% | 4.75% | -5.15% | -0.62% | 3.91% | 4.94% | 0.77% |
OWFIX Old Westbury Fixed Income Fund | -0.10% | 7.48% | 1.93% | 4.81% | -8.39% | -1.87% | 7.41% | 6.12% | 1.25% |
Returns By Period
In the year-to-date period, OWCAX achieves a -0.63% return, which is significantly lower than OWFIX's -0.10% return.
OWCAX
- 1D
- 0.21%
- 1M
- -2.12%
- YTD
- -0.63%
- 6M
- 0.54%
- 1Y
- 3.45%
- 3Y*
- 2.50%
- 5Y*
- 0.91%
- 10Y*
- —
OWFIX
- 1D
- 0.10%
- 1M
- -1.07%
- YTD
- -0.10%
- 6M
- 0.65%
- 1Y
- 3.61%
- 3Y*
- 3.87%
- 5Y*
- 1.00%
- 10Y*
- 1.72%
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OWCAX vs. OWFIX - Expense Ratio Comparison
Both OWCAX and OWFIX have an expense ratio of 0.57%.
Return for Risk
OWCAX vs. OWFIX — Risk / Return Rank
OWCAX
OWFIX
OWCAX vs. OWFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury California Municipal Bond Fund (OWCAX) and Old Westbury Fixed Income Fund (OWFIX). 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.
| OWCAX | OWFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.18 | -0.25 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.79 | -0.54 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 3.33 | -1.99 |
Martin ratioReturn relative to average drawdown | 4.77 | 11.45 | -6.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OWCAX | OWFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.18 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.23 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.88 | -0.32 |
Correlation
The correlation between OWCAX and OWFIX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
OWCAX vs. OWFIX - Dividend Comparison
OWCAX's dividend yield for the trailing twelve months is around 2.58%, less than OWFIX's 3.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OWCAX Old Westbury California Municipal Bond Fund | 2.58% | 3.23% | 2.61% | 2.35% | 1.33% | 1.89% | 1.83% | 1.97% | 0.07% | 0.00% | 0.00% | 0.00% |
OWFIX Old Westbury Fixed Income Fund | 3.78% | 4.72% | 3.95% | 3.08% | 2.06% | 1.91% | 5.05% | 1.88% | 1.90% | 1.49% | 1.33% | 1.31% |
Drawdowns
OWCAX vs. OWFIX - Drawdown Comparison
The maximum OWCAX drawdown since its inception was -8.91%, smaller than the maximum OWFIX drawdown of -12.88%. Use the drawdown chart below to compare losses from any high point for OWCAX and OWFIX.
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Drawdown Indicators
| OWCAX | OWFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.91% | -12.88% | +3.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -2.15% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -8.91% | -12.40% | +3.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.88% | — |
Current DrawdownCurrent decline from peak | -2.32% | -1.45% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -2.26% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.63% | +0.26% |
Volatility
OWCAX vs. OWFIX - Volatility Comparison
The current volatility for Old Westbury California Municipal Bond Fund (OWCAX) is 0.92%, while Old Westbury Fixed Income Fund (OWFIX) has a volatility of 1.17%. This indicates that OWCAX experiences smaller price fluctuations and is considered to be less risky than OWFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWCAX | OWFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.17% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 2.08% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 3.68% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.14% | 4.39% | -1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 3.54% | -0.30% |