OWMBX vs. OWLSX
OWMBX (Old Westbury Municipal Bond Fund) and OWLSX (Old Westbury Large Cap Strategies Fund) are both mutual funds - OWMBX is a Municipal Bonds fund managed by Old Westbury, while OWLSX is a Global Equities fund managed by Old Westbury. Over the past 10 years, OWMBX returned 1.39%/yr vs 10.65%/yr for OWLSX. At a correlation of -0.09, they often move in opposite directions. OWMBX charges 0.57%/yr vs 1.09%/yr for OWLSX.
Performance
OWMBX vs. OWLSX - Performance Comparison
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Returns By Period
In the year-to-date period, OWMBX achieves a 0.57% return, which is significantly lower than OWLSX's 8.37% return. Over the past 10 years, OWMBX has underperformed OWLSX with an annualized return of 1.39%, while OWLSX has yielded a comparatively higher 10.65% annualized return.
OWMBX
- 1D
- 0.09%
- 1M
- 0.99%
- YTD
- 0.57%
- 6M
- 0.74%
- 1Y
- 4.15%
- 3Y*
- 2.73%
- 5Y*
- 0.66%
- 10Y*
- 1.39%
OWLSX
- 1D
- 1.17%
- 1M
- 0.81%
- YTD
- 8.37%
- 6M
- 8.47%
- 1Y
- 22.63%
- 3Y*
- 17.87%
- 5Y*
- 9.12%
- 10Y*
- 10.65%
OWMBX vs. OWLSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OWMBX Old Westbury Municipal Bond Fund | 0.57% | 4.29% | 0.43% | 4.03% | -5.39% | -0.63% | 5.01% | 5.58% | 0.87% | 2.22% |
OWLSX Old Westbury Large Cap Strategies Fund | 8.37% | 17.61% | 20.86% | 19.74% | -22.15% | 17.26% | 15.36% | 25.19% | -8.59% | 19.40% |
Correlation
The correlation between OWMBX and OWLSX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 1998 | -0.09 |
The correlation between OWMBX and OWLSX shifts across timeframes, from -0.09 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OWMBX vs. OWLSX — Risk / Return Rank
OWMBX
OWLSX
OWMBX vs. OWLSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury Municipal Bond Fund (OWMBX) 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.
| OWMBX | OWLSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 2.23 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 0.33 | +1.58 |
| Martin ratioReturn relative to average drawdown | 5.21 | 0.39 | +4.83 |
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Drawdowns
OWMBX vs. OWLSX - Drawdown Comparison
The maximum OWMBX drawdown since its inception was -9.54%, smaller than the maximum OWLSX drawdown of -68.17%. Use the drawdown chart below to compare losses from any high point for OWMBX and OWLSX.
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Drawdown Indicators
| OWMBX | OWLSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -68.17% | +58.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -68.17% | +65.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.81% | -68.17% | +64.36% |
Max Drawdown (5Y)Largest decline over 5 years | -9.37% | -68.17% | +58.80% |
Max Drawdown (10Y)Largest decline over 10 years | -9.44% | -68.17% | +58.73% |
Current DrawdownCurrent decline from peak | -1.05% | -63.12% | +62.07% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -19.64% | +18.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 57.11% | -56.26% |
Volatility
OWMBX vs. OWLSX - Volatility Comparison
The current volatility for Old Westbury Municipal Bond Fund (OWMBX) is 0.38%, while Old Westbury Large Cap Strategies Fund (OWLSX) has a volatility of 4.93%. This indicates that OWMBX experiences smaller price fluctuations and is considered to be less risky than OWLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWMBX | OWLSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 4.93% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 10.10% | -8.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 214.15% | -212.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.11% | 96.93% | -93.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.04% | 69.49% | -66.45% |
OWMBX vs. OWLSX - Expense Ratio Comparison
OWMBX has a 0.57% expense ratio, which is lower than OWLSX's 1.09% expense ratio.
Dividends
OWMBX vs. OWLSX - Dividend Comparison
OWMBX's dividend yield for the trailing twelve months is around 2.60%, less than OWLSX's 11.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OWLSX Old Westbury Large Cap Strategies Fund | 11.54% | 12.51% | 5.79% | 0.55% | 0.61% | 6.60% | 1.38% | 4.94% | 4.65% | 5.86% | 1.81% | 2.40% |
OWMBX Old Westbury Municipal Bond Fund | 2.60% | 2.61% | 2.54% | 2.01% | 1.15% | 2.06% | 2.55% | 1.68% | 1.45% | 1.18% | 1.61% | 1.40% |
Frequently Asked Questions
OWMBX and OWLSX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OWLSX has higher volatility (4.93%) compared to OWMBX (0.38%). In terms of maximum drawdown, OWMBX dropped -9.54% vs OWLSX's -68.17%.
OWMBX currently has the higher Sharpe Ratio (2.46 vs 0.10), 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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