OWSMX vs. CAEIX

Last updated Jun 4, 2026

OWSMX (Old Westbury Small & Mid Cap Strategies Fund) and CAEIX (Calvert Global Energy Solutions Fund) are both Global Equities funds. Over the past 10 years, OWSMX returned 7.80%/yr vs 11.83%/yr for CAEIX. Their correlation of 0.84 suggests significant overlap in exposure. OWSMX charges 1.10%/yr vs 0.99%/yr for CAEIX.

Performance

OWSMX vs. CAEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Old Westbury Small & Mid Cap Strategies Fund (OWSMX) and Calvert Global Energy Solutions Fund (CAEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWSMX achieves a 11.72% return, which is significantly lower than CAEIX's 23.10% return. Over the past 10 years, OWSMX has underperformed CAEIX with an annualized return of 7.80%, while CAEIX has yielded a comparatively higher 11.83% annualized return.

OWSMX

• 1D: 0.52%
• 1M: 3.24%
• YTD: 11.72%
• 6M: 13.64%
• 1Y: 23.05%
• 3Y*: 15.15%
• 5Y*: 3.95%
• 10Y*: 7.80%

CAEIX

• 1D: 1.24%
• 1M: 4.18%
• YTD: 23.10%
• 6M: 23.57%
• 1Y: 49.07%
• 3Y*: 13.90%
• 5Y*: 6.54%
• 10Y*: 11.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OWSMX vs. CAEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OWSMX Old Westbury Small & Mid Cap Strategies Fund	11.72%	18.06%	7.76%	11.67%	-22.54%	4.10%	22.11%	24.52%	-12.04%	18.20%
CAEIX Calvert Global Energy Solutions Fund	23.10%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	29.65%

Correlation

The correlation between OWSMX and CAEIX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	0.84

The correlation between OWSMX and CAEIX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

OWSMX vs. CAEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OWSMX

OWSMX Risk / Return Rank: 34
OWSMX Sharpe Ratio Rank: 36
OWSMX Sortino Ratio Rank: 35
OWSMX Omega Ratio Rank: 38
OWSMX Calmar Ratio Rank: 29
OWSMX Martin Ratio Rank: 35

CAEIX

CAEIX Risk / Return Rank: 89
CAEIX Sharpe Ratio Rank: 92
CAEIX Sortino Ratio Rank: 84
CAEIX Omega Ratio Rank: 80
CAEIX Calmar Ratio Rank: 95
CAEIX Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OWSMX vs. CAEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Old Westbury Small & Mid Cap Strategies Fund (OWSMX) and Calvert Global Energy Solutions Fund (CAEIX). 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.

	OWSMX	CAEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	3.08	-1.35
Sortino ratio: Return per unit of downside risk	2.49	3.95	-1.46
Omega ratio: Gain probability vs. loss probability	1.33	1.52	-0.20
Calmar ratio: Return relative to maximum drawdown	2.01	6.03	-4.03
Martin ratio: Return relative to average drawdown	7.80	20.83	-13.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OWSMX vs. CAEIX - Sharpe Ratio Comparison

The current OWSMX Sharpe Ratio is 1.73, which is lower than the CAEIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of OWSMX and CAEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OWSMX	CAEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	3.08	-1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.34	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.60	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.07	+0.47

Drawdowns

OWSMX vs. CAEIX - Drawdown Comparison

The maximum OWSMX drawdown since its inception was -38.35%, smaller than the maximum CAEIX drawdown of -75.81%. Use the drawdown chart below to compare losses from any high point for OWSMX and CAEIX.

Drawdown Indicators

	OWSMX	CAEIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.35%	-75.81%	+37.46%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-8.39%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-15.97%	-24.57%	+8.60%
Max Drawdown (5Y) Largest decline over 5 years	-34.57%	-32.58%	-1.99%
Max Drawdown (10Y) Largest decline over 10 years	-35.96%	-37.54%	+1.58%
Current Drawdown Current decline from peak	-0.21%	0.00%	-0.21%
Average Drawdown Average peak-to-trough decline	-8.18%	-48.64%	+40.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.42%	+0.57%

Volatility

OWSMX vs. CAEIX - Volatility Comparison

The current volatility for Old Westbury Small & Mid Cap Strategies Fund (OWSMX) is 3.95%, while Calvert Global Energy Solutions Fund (CAEIX) has a volatility of 5.76%. This indicates that OWSMX experiences smaller price fluctuations and is considered to be less risky than CAEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWSMX	CAEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	5.76%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	12.91%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	16.43%	-2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	19.18%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.43%	19.69%	-3.26%

OWSMX vs. CAEIX - Expense Ratio Comparison

OWSMX has a 1.10% expense ratio, which is higher than CAEIX's 0.99% expense ratio.

Dividends

OWSMX vs. CAEIX - Dividend Comparison

OWSMX's dividend yield for the trailing twelve months is around 7.53%, more than CAEIX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAEIX Calvert Global Energy Solutions Fund	0.59%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%
OWSMX Old Westbury Small & Mid Cap Strategies Fund	7.53%	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

Can I hold both OWSMX and CAEIX in my portfolio?

OWSMX and CAEIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWSMX or CAEIX?

CAEIX has higher volatility (5.76%) compared to OWSMX (3.95%). In terms of maximum drawdown, OWSMX dropped -38.35% vs CAEIX's -75.81%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (3.08 vs 1.73), 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.