OWNYX vs. OWFIX
OWNYX (Old Westbury New York Municipal Bond Fund) and OWFIX (Old Westbury Fixed Income Fund) are both mutual funds - OWNYX is a Municipal Bonds fund managed by Old Westbury, while OWFIX is a Intermediate Core Bond fund managed by Old Westbury. Over the past 5 years, OWNYX returned 0.86%/yr vs 0.87%/yr for OWFIX. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.57% expense ratio.
Performance
OWNYX vs. OWFIX - Performance Comparison
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Returns By Period
In the year-to-date period, OWNYX achieves a 0.47% return, which is significantly higher than OWFIX's -0.21% return.
OWNYX
- 1D
- -0.10%
- 1M
- 0.70%
- YTD
- 0.47%
- 6M
- 0.68%
- 1Y
- 3.79%
- 3Y*
- 2.77%
- 5Y*
- 0.86%
- 10Y*
- —
OWFIX
- 1D
- -0.20%
- 1M
- 0.19%
- YTD
- -0.21%
- 6M
- -0.11%
- 1Y
- 2.80%
- 3Y*
- 4.02%
- 5Y*
- 0.87%
- 10Y*
- 1.62%
OWNYX vs. OWFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OWNYX Old Westbury New York Municipal Bond Fund | 0.47% | 4.64% | 0.45% | 4.24% | -5.03% | -0.31% | 3.74% | 4.95% | 0.68% |
OWFIX Old Westbury Fixed Income Fund | -0.21% | 7.48% | 1.93% | 4.81% | -8.39% | -1.87% | 7.41% | 6.12% | 1.35% |
Correlation
The correlation between OWNYX and OWFIX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018 | 0.57 |
The correlation between OWNYX and OWFIX has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
OWNYX vs. OWFIX — Risk / Return Rank
OWNYX
OWFIX
OWNYX vs. OWFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury New York Municipal Bond Fund (OWNYX) 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.
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.
| OWNYX | OWFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.20 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.56 | +0.33 |
| Martin ratioReturn relative to average drawdown | 5.27 | 4.15 | +1.12 |
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Drawdowns
OWNYX vs. OWFIX - Drawdown Comparison
The maximum OWNYX drawdown since its inception was -8.98%, smaller than the maximum OWFIX drawdown of -12.88%. Use the drawdown chart below to compare losses from any high point for OWNYX and OWFIX.
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Drawdown Indicators
| OWNYX | OWFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.98% | -12.88% | +3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -2.23% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -3.78% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -8.98% | -12.40% | +3.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.88% | — |
Current DrawdownCurrent decline from peak | -1.12% | -1.55% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -2.25% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.81% | -0.03% |
Volatility
OWNYX vs. OWFIX - Volatility Comparison
The current volatility for Old Westbury New York Municipal Bond Fund (OWNYX) is 0.40%, while Old Westbury Fixed Income Fund (OWFIX) has a volatility of 0.93%. This indicates that OWNYX 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
| OWNYX | OWFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.93% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 2.11% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 3.11% | -1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 4.41% | -1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.28% | 3.56% | -0.28% |
OWNYX vs. OWFIX - Expense Ratio Comparison
Both OWNYX and OWFIX have an expense ratio of 0.57%.
Dividends
OWNYX vs. OWFIX - Dividend Comparison
OWNYX's dividend yield for the trailing twelve months is around 2.41%, less than OWFIX's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OWFIX Old Westbury Fixed Income Fund | 3.83% | 4.72% | 3.95% | 3.08% | 2.06% | 1.91% | 5.05% | 1.88% | 1.90% | 1.49% | 1.33% | 1.31% |
OWNYX Old Westbury New York Municipal Bond Fund | 2.41% | 2.88% | 2.40% | 1.99% | 1.29% | 1.41% | 1.76% | 1.60% | 0.08% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OWNYX and OWFIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OWFIX has higher volatility (0.93%) compared to OWNYX (0.40%). In terms of maximum drawdown, OWNYX dropped -8.98% vs OWFIX's -12.88%.
OWNYX currently has the higher Sharpe Ratio (2.32 vs 1.12), 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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