OWMBX vs. OWCAX
Compare and contrast key facts about Old Westbury Municipal Bond Fund (OWMBX) and Old Westbury California Municipal Bond Fund (OWCAX).
OWMBX is managed by Old Westbury. It was launched on Mar 5, 1998. OWCAX is managed by Old Westbury. It was launched on Dec 3, 2018.
Performance
OWMBX vs. OWCAX - Performance Comparison
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OWMBX vs. OWCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OWMBX Old Westbury Municipal Bond Fund | -0.50% | 4.29% | 0.43% | 4.03% | -5.39% | -0.63% | 5.01% | 5.58% | 1.03% |
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% |
Returns By Period
In the year-to-date period, OWMBX achieves a -0.50% return, which is significantly higher than OWCAX's -0.63% return.
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%
OWCAX
- 1D
- 0.21%
- 1M
- -2.12%
- YTD
- -0.63%
- 6M
- 0.54%
- 1Y
- 3.45%
- 3Y*
- 2.50%
- 5Y*
- 0.91%
- 10Y*
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OWMBX vs. OWCAX - Expense Ratio Comparison
Both OWMBX and OWCAX have an expense ratio of 0.57%.
Return for Risk
OWMBX vs. OWCAX — Risk / Return Rank
OWMBX
OWCAX
OWMBX vs. OWCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury Municipal Bond Fund (OWMBX) and Old Westbury California Municipal Bond Fund (OWCAX). 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.
| OWMBX | OWCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 0.93 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.19 | 1.25 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 1.34 | -0.28 |
Martin ratioReturn relative to average drawdown | 3.83 | 4.77 | -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
| OWMBX | OWCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.93 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.30 | -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 | 1.05 | 0.56 | +0.49 |
Correlation
The correlation between OWMBX and OWCAX 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
OWMBX vs. OWCAX - Dividend Comparison
OWMBX's dividend yield for the trailing twelve months is around 2.64%, more than OWCAX's 2.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Drawdowns
OWMBX vs. OWCAX - Drawdown Comparison
The maximum OWMBX drawdown since its inception was -9.54%, which is greater than OWCAX's maximum drawdown of -8.91%. Use the drawdown chart below to compare losses from any high point for OWMBX and OWCAX.
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Drawdown Indicators
| OWMBX | OWCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -8.91% | -0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.19% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -9.37% | -8.91% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -9.44% | — | — |
Current DrawdownCurrent decline from peak | -2.10% | -2.32% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -1.99% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.89% | 0.00% |
Volatility
OWMBX vs. OWCAX - Volatility Comparison
Old Westbury Municipal Bond Fund (OWMBX) and Old Westbury California Municipal Bond Fund (OWCAX) have volatilities of 0.93% and 0.92%, 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
| OWMBX | OWCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.92% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.32% | 1.35% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.62% | 4.55% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.09% | 3.14% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 3.24% | -0.21% |