OWFIX vs. OWSMX
OWFIX (Old Westbury Fixed Income Fund) and OWSMX (Old Westbury Small & Mid Cap Strategies Fund) are both mutual funds - OWFIX is a Intermediate Core Bond fund managed by Old Westbury, while OWSMX is a Global Equities fund managed by Old Westbury. Over the past 10 years, OWFIX returned 1.67%/yr vs 7.84%/yr for OWSMX. At a correlation of -0.11, they often move in opposite directions. OWFIX charges 0.57%/yr vs 1.10%/yr for OWSMX.
Performance
OWFIX vs. OWSMX - Performance Comparison
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Returns By Period
In the year-to-date period, OWFIX achieves a -0.01% return, which is significantly lower than OWSMX's 12.00% return. Over the past 10 years, OWFIX has underperformed OWSMX with an annualized return of 1.67%, while OWSMX has yielded a comparatively higher 7.84% annualized return.
OWFIX
- 1D
- 0.30%
- 1M
- 0.39%
- YTD
- -0.01%
- 6M
- 0.09%
- 1Y
- 3.31%
- 3Y*
- 4.15%
- 5Y*
- 0.91%
- 10Y*
- 1.67%
OWSMX
- 1D
- 0.83%
- 1M
- 1.67%
- YTD
- 12.00%
- 6M
- 11.17%
- 1Y
- 23.94%
- 3Y*
- 14.18%
- 5Y*
- 3.99%
- 10Y*
- 7.84%
OWFIX vs. OWSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OWFIX Old Westbury Fixed Income Fund | -0.01% | 7.48% | 1.93% | 4.81% | -8.39% | -1.87% | 7.41% | 6.12% | 0.64% | 1.41% |
OWSMX Old Westbury Small & Mid Cap Strategies Fund | 12.00% | 18.06% | 7.76% | 11.67% | -22.54% | 4.10% | 22.11% | 24.52% | -12.04% | 18.20% |
Correlation
The correlation between OWFIX and OWSMX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2005 | -0.11 |
The correlation between OWFIX and OWSMX shifts across timeframes, from -0.11 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OWFIX vs. OWSMX — Risk / Return Rank
OWFIX
OWSMX
OWFIX vs. OWSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury Fixed Income Fund (OWFIX) and Old Westbury Small & Mid Cap Strategies Fund (OWSMX). 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.
| OWFIX | OWSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.01 | -0.34 |
| Martin ratioReturn relative to average drawdown | 4.47 | 7.76 | -3.28 |
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Drawdowns
OWFIX vs. OWSMX - Drawdown Comparison
The maximum OWFIX drawdown since its inception was -12.88%, smaller than the maximum OWSMX drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for OWFIX and OWSMX.
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Drawdown Indicators
| OWFIX | OWSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.88% | -38.35% | +25.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -11.67% | +9.44% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -15.97% | +12.19% |
Max Drawdown (5Y)Largest decline over 5 years | -12.40% | -34.57% | +22.17% |
Max Drawdown (10Y)Largest decline over 10 years | -12.88% | -35.96% | +23.08% |
Current DrawdownCurrent decline from peak | -1.36% | -0.46% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -8.17% | +5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 3.01% | -2.21% |
Volatility
OWFIX vs. OWSMX - Volatility Comparison
The current volatility for Old Westbury Fixed Income Fund (OWFIX) is 0.98%, while Old Westbury Small & Mid Cap Strategies Fund (OWSMX) has a volatility of 5.19%. This indicates that OWFIX experiences smaller price fluctuations and is considered to be less risky than OWSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWFIX | OWSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 5.19% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 11.58% | -9.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.10% | 14.15% | -11.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 16.29% | -11.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 16.48% | -12.92% |
OWFIX vs. OWSMX - Expense Ratio Comparison
OWFIX has a 0.57% expense ratio, which is lower than OWSMX's 1.10% expense ratio.
Dividends
OWFIX vs. OWSMX - Dividend Comparison
OWFIX's dividend yield for the trailing twelve months is around 3.82%, less than OWSMX's 7.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OWFIX Old Westbury Fixed Income Fund | 3.82% | 4.72% | 3.95% | 3.08% | 2.06% | 1.91% | 5.05% | 1.88% | 1.90% | 1.49% | 1.33% | 1.31% |
OWSMX Old Westbury Small & Mid Cap Strategies Fund | 7.51% | 8.41% | 3.92% | 0.65% | 0.52% | 6.04% | 3.23% | 4.65% | 12.54% | 7.43% | 6.32% | 10.79% |
Frequently Asked Questions
OWFIX and OWSMX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OWSMX has higher volatility (5.19%) compared to OWFIX (0.98%). In terms of maximum drawdown, OWFIX dropped -12.88% vs OWSMX's -38.35%.
OWSMX currently has the higher Sharpe Ratio (1.66 vs 1.20), 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.
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