OWCAX vs. OWMBX
Compare and contrast key facts about Old Westbury California Municipal Bond Fund (OWCAX) and Old Westbury Municipal Bond Fund (OWMBX).
OWCAX is managed by Old Westbury. It was launched on Dec 3, 2018. OWMBX is managed by Old Westbury. It was launched on Mar 5, 1998.
Performance
OWCAX vs. OWMBX - Performance Comparison
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OWCAX vs. OWMBX - 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% |
OWMBX Old Westbury Municipal Bond Fund | -0.50% | 4.29% | 0.43% | 4.03% | -5.39% | -0.63% | 5.01% | 5.58% | 1.03% |
Returns By Period
In the year-to-date period, OWCAX achieves a -0.63% return, which is significantly lower than OWMBX's -0.50% return.
OWCAX
- 1D
- 0.21%
- 1M
- -2.12%
- YTD
- -0.63%
- 6M
- 0.54%
- 1Y
- 3.45%
- 3Y*
- 2.50%
- 5Y*
- 0.91%
- 10Y*
- —
OWMBX
- 1D
- 0.26%
- 1M
- -1.85%
- YTD
- -0.50%
- 6M
- 0.49%
- 1Y
- 3.28%
- 3Y*
- 2.05%
- 5Y*
- 0.59%
- 10Y*
- 1.38%
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OWCAX vs. OWMBX - Expense Ratio Comparison
Both OWCAX and OWMBX have an expense ratio of 0.57%.
Return for Risk
OWCAX vs. OWMBX — Risk / Return Rank
OWCAX
OWMBX
OWCAX vs. OWMBX - 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 Municipal Bond Fund (OWMBX). 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 | OWMBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 0.90 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.19 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.06 | +0.28 |
Martin ratioReturn relative to average drawdown | 4.77 | 3.83 | +0.94 |
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 | OWMBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 0.90 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.20 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 1.05 | -0.49 |
Correlation
The correlation between OWCAX and OWMBX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OWCAX vs. OWMBX - Dividend Comparison
OWCAX's dividend yield for the trailing twelve months is around 2.58%, less than OWMBX's 2.64% 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% |
OWMBX Old Westbury Municipal Bond Fund | 2.64% | 2.61% | 2.54% | 2.01% | 1.15% | 2.06% | 2.55% | 1.68% | 1.45% | 1.18% | 1.61% | 1.40% |
Drawdowns
OWCAX vs. OWMBX - Drawdown Comparison
The maximum OWCAX drawdown since its inception was -8.91%, smaller than the maximum OWMBX drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for OWCAX and OWMBX.
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Drawdown Indicators
| OWCAX | OWMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.91% | -9.54% | +0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -3.22% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -8.91% | -9.37% | +0.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.44% | — |
Current DrawdownCurrent decline from peak | -2.32% | -2.10% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -1.64% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.89% | 0.00% |
Volatility
OWCAX vs. OWMBX - Volatility Comparison
Old Westbury California Municipal Bond Fund (OWCAX) and Old Westbury Municipal Bond Fund (OWMBX) have volatilities of 0.92% and 0.93%, 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.
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Volatility by Period
| OWCAX | OWMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.93% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 1.32% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 4.62% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.14% | 3.09% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 3.03% | +0.21% |