VSPVX vs. OANMX

Last updated Jun 5, 2026

VSPVX (Vanguard S&P 500 Value Index Fund Institutional Shares) and OANMX (Oakmark Fund Institutional Class) are both Large Cap Value Equities funds. Over the past 5 years, VSPVX returned 10.54%/yr vs 9.27%/yr for OANMX. Their correlation of 0.92 suggests significant overlap in exposure. VSPVX charges 0.08%/yr vs 0.68%/yr for OANMX.

Performance

VSPVX vs. OANMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) and Oakmark Fund Institutional Class (OANMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSPVX achieves a 7.45% return, which is significantly higher than OANMX's -2.20% return.

VSPVX

• 1D: -0.42%
• 1M: 1.38%
• YTD: 7.45%
• 6M: 8.02%
• 1Y: 21.56%
• 3Y*: 15.49%
• 5Y*: 10.54%
• 10Y*: 11.80%

OANMX

• 1D: -1.38%
• 1M: -2.16%
• YTD: -2.20%
• 6M: 0.36%
• 1Y: 10.56%
• 3Y*: 14.76%
• 5Y*: 9.27%
• 10Y*: —

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

VSPVX vs. OANMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares	7.45%	12.62%	11.99%	22.39%	-5.33%	24.80%	1.23%	31.84%	-9.02%	14.23%
OANMX Oakmark Fund Institutional Class	-2.20%	14.38%	16.28%	31.21%	-13.18%	34.87%	13.09%	27.35%	-12.62%	15.96%

Correlation

The correlation between VSPVX and OANMX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.92

The correlation between VSPVX and OANMX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

VSPVX vs. OANMX — Risk / Return Rank

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

VSPVX

VSPVX Risk / Return Rank: 60
VSPVX Sharpe Ratio Rank: 54
VSPVX Sortino Ratio Rank: 52
VSPVX Omega Ratio Rank: 50
VSPVX Calmar Ratio Rank: 76
VSPVX Martin Ratio Rank: 68

OANMX

OANMX Risk / Return Rank: 12
OANMX Sharpe Ratio Rank: 10
OANMX Sortino Ratio Rank: 10
OANMX Omega Ratio Rank: 10
OANMX Calmar Ratio Rank: 17
OANMX Martin Ratio Rank: 13

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.

VSPVX vs. OANMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) and Oakmark Fund Institutional Class (OANMX). 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.

	VSPVX	OANMX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	0.78	+1.40
Sortino ratio: Return per unit of downside risk	3.05	1.20	+1.84
Omega ratio: Gain probability vs. loss probability	1.39	1.14	+0.24
Calmar ratio: Return relative to maximum drawdown	3.42	1.47	+1.95
Martin ratio: Return relative to average drawdown	13.08	3.77	+9.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSPVX vs. OANMX - Sharpe Ratio Comparison

The current VSPVX Sharpe Ratio is 2.18, which is higher than the OANMX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of VSPVX and OANMX, 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

	VSPVX	OANMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	0.78	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.51	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.59	+0.05

Drawdowns

VSPVX vs. OANMX - Drawdown Comparison

The maximum VSPVX drawdown since its inception was -37.05%, smaller than the maximum OANMX drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for VSPVX and OANMX.

Drawdown Indicators

	VSPVX	OANMX	Difference
Max Drawdown Largest peak-to-trough decline	-37.05%	-40.08%	+3.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-6.93%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.91%	-17.01%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	-18.00%	-23.55%	+5.55%
Max Drawdown (10Y) Largest decline over 10 years	-37.05%	—	—
Current Drawdown Current decline from peak	-0.60%	-4.71%	+4.11%
Average Drawdown Average peak-to-trough decline	-4.06%	-5.58%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.70%	-1.07%

Volatility

VSPVX vs. OANMX - Volatility Comparison

The current volatility for Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) is 2.10%, while Oakmark Fund Institutional Class (OANMX) has a volatility of 3.21%. This indicates that VSPVX experiences smaller price fluctuations and is considered to be less risky than OANMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSPVX	OANMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	3.21%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	7.07%	9.44%	-2.37%
Volatility (1Y) Calculated over the trailing 1-year period	9.81%	13.08%	-3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.45%	18.30%	-3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	20.64%	-3.57%

VSPVX vs. OANMX - Expense Ratio Comparison

VSPVX has a 0.08% expense ratio, which is lower than OANMX's 0.68% expense ratio.

Dividends

VSPVX vs. OANMX - Dividend Comparison

VSPVX's dividend yield for the trailing twelve months is around 1.69%, more than OANMX's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OANMX Oakmark Fund Institutional Class	1.17%	1.14%	1.34%	1.22%	1.17%	1.94%	0.33%	8.53%	8.37%	0.66%	0.00%	0.00%
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares	1.69%	1.35%	2.12%	1.70%	2.21%	1.88%	2.46%	2.12%	2.73%	2.18%	2.30%	2.47%

Frequently Asked Questions

Can I hold both VSPVX and OANMX in my portfolio?

VSPVX and OANMX 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, VSPVX or OANMX?

OANMX has higher volatility (3.21%) compared to VSPVX (2.10%). In terms of maximum drawdown, VSPVX dropped -37.05% vs OANMX's -40.08%.

Which has better risk-adjusted returns?

VSPVX currently has the higher Sharpe Ratio (2.18 vs 0.78), 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.