SMVLX vs. OAKMX

Last updated Jun 24, 2026

SMVLX (Smead Value Fund) and OAKMX (Oakmark Fund Investor Class) are both Large Cap Value Equities funds. Over the past 10 years, SMVLX returned 12.71%/yr vs 13.78%/yr for OAKMX. Their correlation of 0.89 suggests significant overlap in exposure. SMVLX charges 1.26%/yr vs 0.89%/yr for OAKMX.

Performance

SMVLX vs. OAKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Smead Value Fund (SMVLX) and Oakmark Fund Investor Class (OAKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMVLX achieves a 14.42% return, which is significantly higher than OAKMX's -2.01% return. Over the past 10 years, SMVLX has underperformed OAKMX with an annualized return of 12.71%, while OAKMX has yielded a comparatively higher 13.78% annualized return.

SMVLX

• 1D: 0.62%
• 1M: 0.05%
• YTD: 14.42%
• 6M: 13.80%
• 1Y: 27.75%
• 3Y*: 13.78%
• 5Y*: 9.67%
• 10Y*: 12.71%

OAKMX

• 1D: 0.00%
• 1M: -1.03%
• YTD: -2.01%
• 6M: -2.54%
• 1Y: 8.70%
• 3Y*: 14.33%
• 5Y*: 9.77%
• 10Y*: 13.78%

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

SMVLX vs. OAKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMVLX Smead Value Fund	14.42%	5.05%	4.78%	16.87%	-2.79%	42.46%	1.71%	26.29%	-4.79%	19.73%
OAKMX Oakmark Fund Investor Class	-2.01%	14.13%	16.02%	30.92%	-13.38%	34.85%	12.90%	27.14%	-12.76%	21.12%

Correlation

The correlation between SMVLX and OAKMX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.89

The correlation between SMVLX and OAKMX shifts across timeframes, from 0.71 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SMVLX vs. OAKMX — Risk / Return Rank

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

SMVLX

SMVLX Risk / Return Rank: 62
SMVLX Sharpe Ratio Rank: 48
SMVLX Sortino Ratio Rank: 51
SMVLX Omega Ratio Rank: 45
SMVLX Calmar Ratio Rank: 92
SMVLX Martin Ratio Rank: 74

OAKMX

OAKMX Risk / Return Rank: 11
OAKMX Sharpe Ratio Rank: 9
OAKMX Sortino Ratio Rank: 9
OAKMX Omega Ratio Rank: 8
OAKMX Calmar Ratio Rank: 15
OAKMX Martin Ratio Rank: 12

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.

SMVLX vs. OAKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Smead Value Fund (SMVLX) and Oakmark Fund Investor Class (OAKMX). 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.

	SMVLX	OAKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	0.68	+1.21
Sortino ratio: Return per unit of downside risk	2.77	1.07	+1.71
Omega ratio: Gain probability vs. loss probability	1.33	1.13	+0.21
Calmar ratio: Return relative to maximum drawdown	4.58	1.29	+3.28
Martin ratio: Return relative to average drawdown	13.18	3.17	+10.01

SMVLX vs. OAKMX - Sharpe Ratio Comparison

The current SMVLX Sharpe Ratio is 1.89, which is higher than the OAKMX Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of SMVLX and OAKMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMVLX vs. OAKMX - Drawdown Comparison

The maximum SMVLX drawdown since its inception was -39.56%, smaller than the maximum OAKMX drawdown of -56.19%. Use the drawdown chart below to compare losses from any high point for SMVLX and OAKMX.

Drawdown Indicators

	SMVLX	OAKMX	Difference
Max Drawdown Largest peak-to-trough decline	-39.56%	-56.19%	+16.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.90%	-6.98%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-24.62%	-17.05%	-7.57%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-23.68%	-0.94%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	-41.43%	+1.87%
Current Drawdown Current decline from peak	-2.62%	-4.52%	+1.90%
Average Drawdown Average peak-to-trough decline	-4.58%	-6.39%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.84%	-0.79%

Volatility

SMVLX vs. OAKMX - Volatility Comparison

The current volatility for Smead Value Fund (SMVLX) is 3.58%, while Oakmark Fund Investor Class (OAKMX) has a volatility of 3.77%. This indicates that SMVLX experiences smaller price fluctuations and is considered to be less risky than OAKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMVLX	OAKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.77%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	8.78%	9.44%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	13.20%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	18.28%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.49%	20.41%	-0.92%

SMVLX vs. OAKMX - Expense Ratio Comparison

SMVLX has a 1.26% expense ratio, which is higher than OAKMX's 0.89% expense ratio.

Dividends

SMVLX vs. OAKMX - Dividend Comparison

SMVLX's dividend yield for the trailing twelve months is around 1.46%, more than OAKMX's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKMX Oakmark Fund Investor Class	0.94%	0.92%	1.12%	1.02%	0.92%	1.94%	0.17%	8.33%	8.13%	4.06%	2.58%	1.43%
SMVLX Smead Value Fund	1.46%	1.67%	1.08%	1.34%	1.78%	3.91%	1.40%	3.83%	7.47%	0.22%	3.14%	3.10%

Frequently Asked Questions

Can I hold both SMVLX and OAKMX in my portfolio?

SMVLX and OAKMX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMVLX or OAKMX?

OAKMX has higher volatility (3.77%) compared to SMVLX (3.58%). In terms of maximum drawdown, SMVLX dropped -39.56% vs OAKMX's -56.19%.

Which has better risk-adjusted returns?

SMVLX currently has the higher Sharpe Ratio (1.89 vs 0.68), 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.