AQEAX vs. CBALX

Last updated Jun 26, 2026

AQEAX (Columbia Disciplined Core Fund) and CBALX (Columbia Balanced Fund) are both mutual funds - AQEAX is a Large Cap Blend Equities fund managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 10 years, AQEAX returned 14.87%/yr vs 10.14%/yr for CBALX. Their correlation of 0.95 suggests significant overlap in exposure. AQEAX charges 0.97%/yr vs 0.67%/yr for CBALX.

Performance

AQEAX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Disciplined Core Fund (AQEAX) and Columbia Balanced Fund (CBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQEAX achieves a 4.05% return, which is significantly lower than CBALX's 4.72% return. Over the past 10 years, AQEAX has outperformed CBALX with an annualized return of 14.87%, while CBALX has yielded a comparatively lower 10.14% annualized return.

AQEAX

• 1D: -0.25%
• 1M: -2.43%
• YTD: 4.05%
• 6M: 2.75%
• 1Y: 18.07%
• 3Y*: 17.89%
• 5Y*: 11.25%
• 10Y*: 14.87%

CBALX

• 1D: 0.18%
• 1M: -0.53%
• YTD: 4.72%
• 6M: 4.08%
• 1Y: 14.26%
• 3Y*: 14.18%
• 5Y*: 7.78%
• 10Y*: 10.14%

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

AQEAX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQEAX Columbia Disciplined Core Fund	4.05%	14.25%	25.67%	24.11%	-19.03%	32.22%	13.79%	36.92%	-3.97%	22.22%
CBALX Columbia Balanced Fund	4.72%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%

Correlation

The correlation between AQEAX and CBALX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 24, 2003	0.95

The correlation between AQEAX and CBALX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

AQEAX vs. CBALX — Risk / Return Rank

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

AQEAX

AQEAX Risk / Return Rank: 37
AQEAX Sharpe Ratio Rank: 35
AQEAX Sortino Ratio Rank: 32
AQEAX Omega Ratio Rank: 33
AQEAX Calmar Ratio Rank: 38
AQEAX Martin Ratio Rank: 45

CBALX

CBALX Risk / Return Rank: 46
CBALX Sharpe Ratio Rank: 46
CBALX Sortino Ratio Rank: 45
CBALX Omega Ratio Rank: 45
CBALX Calmar Ratio Rank: 43
CBALX Martin Ratio Rank: 51

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.

AQEAX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Disciplined Core Fund (AQEAX) and Columbia Balanced Fund (CBALX). 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.

	AQEAX	CBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.66	-0.23
Sortino ratio: Return per unit of downside risk	2.00	2.34	-0.34
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.01	2.20	-0.19
Martin ratio: Return relative to average drawdown	8.20	9.11	-0.91

AQEAX vs. CBALX - Sharpe Ratio Comparison

The current AQEAX Sharpe Ratio is 1.43, which is comparable to the CBALX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of AQEAX and CBALX, 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

AQEAX vs. CBALX - Drawdown Comparison

The maximum AQEAX drawdown since its inception was -57.90%, which is greater than CBALX's maximum drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for AQEAX and CBALX.

Drawdown Indicators

	AQEAX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-57.90%	-34.53%	-23.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-6.63%	-2.38%
Max Drawdown (3Y) Largest decline over 3 years	-20.52%	-12.06%	-8.46%
Max Drawdown (5Y) Largest decline over 5 years	-34.13%	-20.91%	-13.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	-22.73%	-11.49%
Current Drawdown Current decline from peak	-3.51%	-1.97%	-1.54%
Average Drawdown Average peak-to-trough decline	-8.79%	-5.30%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.60%	+0.61%

Volatility

AQEAX vs. CBALX - Volatility Comparison

Columbia Disciplined Core Fund (AQEAX) has a higher volatility of 4.60% compared to Columbia Balanced Fund (CBALX) at 3.80%. This indicates that AQEAX's price experiences larger fluctuations and is considered to be riskier than CBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQEAX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	3.80%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	7.13%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	8.83%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.11%	11.18%	+8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	11.36%	+8.62%

AQEAX vs. CBALX - Expense Ratio Comparison

AQEAX has a 0.97% expense ratio, which is higher than CBALX's 0.67% expense ratio.

Dividends

AQEAX vs. CBALX - Dividend Comparison

AQEAX's dividend yield for the trailing twelve months is around 10.90%, more than CBALX's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQEAX Columbia Disciplined Core Fund	10.90%	11.34%	11.89%	3.91%	7.58%	17.49%	4.96%	19.02%	8.62%	4.62%	1.28%	1.28%
CBALX Columbia Balanced Fund	6.26%	6.42%	7.83%	1.84%	5.36%	9.26%	5.31%	4.16%	5.82%	2.79%	1.60%	4.05%

Frequently Asked Questions

Can I hold both AQEAX and CBALX in my portfolio?

With a correlation of 0.94, AQEAX and CBALX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AQEAX or CBALX?

AQEAX has higher volatility (4.60%) compared to CBALX (3.80%). In terms of maximum drawdown, AQEAX dropped -57.90% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

CBALX currently has the higher Sharpe Ratio (1.66 vs 1.43), 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.