STMDX vs. OWVAX

Last updated Jun 4, 2026

STMDX (Sterling Capital Stratton Real Estate Fund) and OWVAX (Sterling Capital West Virginia Intermediate Tax-Free Fund) are both mutual funds - STMDX is a REIT fund managed by Sterling Capital, while OWVAX is a Municipal Bonds fund managed by Sterling Capital. Over the past 10 years, STMDX returned 6.61%/yr vs 1.83%/yr for OWVAX. At a 0.06 correlation, their price movements are largely independent. STMDX charges 0.82%/yr vs 0.58%/yr for OWVAX.

Performance

STMDX vs. OWVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sterling Capital Stratton Real Estate Fund (STMDX) and Sterling Capital West Virginia Intermediate Tax-Free Fund (OWVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STMDX achieves a 8.96% return, which is significantly higher than OWVAX's 1.00% return. Over the past 10 years, STMDX has outperformed OWVAX with an annualized return of 6.61%, while OWVAX has yielded a comparatively lower 1.83% annualized return.

STMDX

• 1D: 0.19%
• 1M: -1.35%
• YTD: 8.96%
• 6M: 8.18%
• 1Y: 8.54%
• 3Y*: 8.91%
• 5Y*: 2.71%
• 10Y*: 6.61%

OWVAX

• 1D: 0.11%
• 1M: 0.46%
• YTD: 1.00%
• 6M: 1.36%
• 1Y: 5.37%
• 3Y*: 3.55%
• 5Y*: 1.14%
• 10Y*: 1.83%

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

STMDX vs. OWVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STMDX Sterling Capital Stratton Real Estate Fund	8.96%	1.35%	6.25%	13.28%	-26.17%	38.53%	-0.54%	31.77%	-2.82%	7.81%
OWVAX Sterling Capital West Virginia Intermediate Tax-Free Fund	1.00%	5.44%	1.18%	4.18%	-5.91%	0.39%	4.49%	6.15%	0.67%	3.43%

Correlation

The correlation between STMDX and OWVAX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 1, 1993	0.06

The correlation between STMDX and OWVAX shifts across timeframes, from 0.06 (all time) to 0.25 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

STMDX vs. OWVAX — Risk / Return Rank

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

STMDX

STMDX Risk / Return Rank: 9
STMDX Sharpe Ratio Rank: 8
STMDX Sortino Ratio Rank: 7
STMDX Omega Ratio Rank: 7
STMDX Calmar Ratio Rank: 11
STMDX Martin Ratio Rank: 10

OWVAX

OWVAX Risk / Return Rank: 67
OWVAX Sharpe Ratio Rank: 84
OWVAX Sortino Ratio Rank: 88
OWVAX Omega Ratio Rank: 94
OWVAX Calmar Ratio Rank: 36
OWVAX Martin Ratio Rank: 33

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.

STMDX vs. OWVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sterling Capital Stratton Real Estate Fund (STMDX) and Sterling Capital West Virginia Intermediate Tax-Free Fund (OWVAX). 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.

	STMDX	OWVAX	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.73	-2.09
Sortino ratio: Return per unit of downside risk	0.94	4.29	-3.36
Omega ratio: Gain probability vs. loss probability	1.12	1.76	-0.64
Calmar ratio: Return relative to maximum drawdown	1.06	2.26	-1.20
Martin ratio: Return relative to average drawdown	2.97	7.52	-4.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

STMDX vs. OWVAX - Sharpe Ratio Comparison

The current STMDX Sharpe Ratio is 0.64, which is lower than the OWVAX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of STMDX and OWVAX, 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

	STMDX	OWVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	2.73	-2.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.43	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.60	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.07	-0.67

Drawdowns

STMDX vs. OWVAX - Drawdown Comparison

The maximum STMDX drawdown since its inception was -65.12%, which is greater than OWVAX's maximum drawdown of -12.59%. Use the drawdown chart below to compare losses from any high point for STMDX and OWVAX.

Drawdown Indicators

	STMDX	OWVAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.12%	-12.59%	-52.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-2.38%	-5.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.98%	-3.60%	-13.38%
Max Drawdown (5Y) Largest decline over 5 years	-33.43%	-9.42%	-24.01%
Max Drawdown (10Y) Largest decline over 10 years	-40.52%	-9.79%	-30.73%
Current Drawdown Current decline from peak	-3.61%	-0.71%	-2.90%
Average Drawdown Average peak-to-trough decline	-10.09%	-1.63%	-8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	0.71%	+2.04%

Volatility

STMDX vs. OWVAX - Volatility Comparison

Sterling Capital Stratton Real Estate Fund (STMDX) has a higher volatility of 3.79% compared to Sterling Capital West Virginia Intermediate Tax-Free Fund (OWVAX) at 0.79%. This indicates that STMDX's price experiences larger fluctuations and is considered to be riskier than OWVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STMDX	OWVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	0.79%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	1.56%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	1.98%	+10.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	2.69%	+16.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	3.09%	+17.32%

STMDX vs. OWVAX - Expense Ratio Comparison

STMDX has a 0.82% expense ratio, which is higher than OWVAX's 0.58% expense ratio.

Dividends

STMDX vs. OWVAX - Dividend Comparison

STMDX's dividend yield for the trailing twelve months is around 5.82%, more than OWVAX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OWVAX Sterling Capital West Virginia Intermediate Tax-Free Fund	2.88%	3.76%	3.08%	2.26%	1.99%	1.76%	2.03%	2.73%	2.58%	2.47%	2.81%	2.90%
STMDX Sterling Capital Stratton Real Estate Fund	5.82%	6.24%	7.14%	8.39%	8.29%	7.14%	4.05%	9.15%	5.92%	4.80%	7.98%	2.96%

Frequently Asked Questions

Can I hold both STMDX and OWVAX in my portfolio?

STMDX and OWVAX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STMDX or OWVAX?

STMDX has higher volatility (3.79%) compared to OWVAX (0.79%). In terms of maximum drawdown, STMDX dropped -65.12% vs OWVAX's -12.59%.

Which has better risk-adjusted returns?

OWVAX currently has the higher Sharpe Ratio (2.73 vs 0.64), 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.