BVAOX vs. SCMIX

Last updated Jun 3, 2026

BVAOX (Madison Small Cap Fund) and SCMIX (Columbia Seligman Technology and Information Fund Institutional 2 Class) are both mutual funds - BVAOX is a Small Cap Blend Equities fund managed by Madison Funds, while SCMIX is a Technology Equities fund actively managed by Columbia. Over the past 10 years, BVAOX returned -2.49%/yr vs 27.92%/yr for SCMIX. Their correlation of 0.82 suggests significant overlap in exposure. BVAOX charges 1.10%/yr vs 0.89%/yr for SCMIX.

Performance

BVAOX vs. SCMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Small Cap Fund (BVAOX) and Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BVAOX achieves a 7.53% return, which is significantly lower than SCMIX's 53.21% return. Over the past 10 years, BVAOX has underperformed SCMIX with an annualized return of -2.49%, while SCMIX has yielded a comparatively higher 27.92% annualized return.

BVAOX

• 1D: 0.39%
• 1M: 0.19%
• YTD: 7.53%
• 6M: 8.36%
• 1Y: 9.41%
• 3Y*: 9.93%
• 5Y*: 1.19%
• 10Y*: -2.49%

SCMIX

• 1D: 1.95%
• 1M: 11.58%
• YTD: 53.21%
• 6M: 51.36%
• 1Y: 122.99%
• 3Y*: 46.28%
• 5Y*: 26.08%
• 10Y*: 27.92%

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

BVAOX vs. SCMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BVAOX Madison Small Cap Fund	7.53%	-7.16%	21.83%	16.06%	-24.38%	20.38%	23.06%	-49.49%	-12.21%	-2.21%
SCMIX Columbia Seligman Technology and Information Fund Institutional 2 Class	53.21%	37.73%	27.06%	44.68%	-30.96%	39.37%	44.85%	54.60%	-7.81%	34.46%

Correlation

The correlation between BVAOX and SCMIX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 3, 2002	0.82

Over the past year, the correlation between BVAOX and SCMIX has dropped to 0.58 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

BVAOX vs. SCMIX — Risk / Return Rank

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

BVAOX

BVAOX Risk / Return Rank: 6
BVAOX Sharpe Ratio Rank: 6
BVAOX Sortino Ratio Rank: 6
BVAOX Omega Ratio Rank: 6
BVAOX Calmar Ratio Rank: 7
BVAOX Martin Ratio Rank: 6

SCMIX

SCMIX Risk / Return Rank: 97
SCMIX Sharpe Ratio Rank: 99
SCMIX Sortino Ratio Rank: 95
SCMIX Omega Ratio Rank: 92
SCMIX Calmar Ratio Rank: 99
SCMIX Martin Ratio Rank: 99

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.

BVAOX vs. SCMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Small Cap Fund (BVAOX) and Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX). 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.

	BVAOX	SCMIX	Difference
Sharpe ratio Return per unit of total volatility	0.50	4.84	-4.34
Sortino ratio Return per unit of downside risk	0.84	5.07	-4.23
Omega ratio Gain probability vs. loss probability	1.10	1.69	-0.59
Calmar ratio Return relative to maximum drawdown	0.77	10.02	-9.25
Martin ratio Return relative to average drawdown	1.92	38.96	-37.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BVAOX vs. SCMIX - Sharpe Ratio Comparison

The current BVAOX Sharpe Ratio is 0.50, which is lower than the SCMIX Sharpe Ratio of 4.84. The chart below compares the historical Sharpe Ratios of BVAOX and SCMIX, 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

	BVAOX	SCMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	4.84	-4.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	1.00	-0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	1.07	-1.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.68	-0.43

Drawdowns

BVAOX vs. SCMIX - Drawdown Comparison

The maximum BVAOX drawdown since its inception was -75.76%, which is greater than SCMIX's maximum drawdown of -50.85%. Use the drawdown chart below to compare losses from any high point for BVAOX and SCMIX.

Drawdown Indicators

	BVAOX	SCMIX	Difference
Max Drawdown Largest peak-to-trough decline	-75.76%	-50.85%	-24.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-12.32%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-25.10%	-29.08%	+3.98%
Max Drawdown (5Y) Largest decline over 5 years	-32.32%	-37.18%	+4.86%
Max Drawdown (10Y) Largest decline over 10 years	-75.76%	-37.18%	-38.58%
Current Drawdown Current decline from peak	-37.55%	0.00%	-37.55%
Average Drawdown Average peak-to-trough decline	-20.80%	-9.41%	-11.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.17%	+1.29%

Volatility

BVAOX vs. SCMIX - Volatility Comparison

The current volatility for Madison Small Cap Fund (BVAOX) is 4.67%, while Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX) has a volatility of 6.60%. This indicates that BVAOX experiences smaller price fluctuations and is considered to be less risky than SCMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BVAOX	SCMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	6.60%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	19.85%	-7.46%
Volatility (1Y) Calculated over the trailing 1-year period	17.91%	25.93%	-8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.44%	26.17%	-5.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.25%	26.11%	+2.14%

BVAOX vs. SCMIX - Expense Ratio Comparison

BVAOX has a 1.10% expense ratio, which is higher than SCMIX's 0.89% expense ratio.

Dividends

BVAOX vs. SCMIX - Dividend Comparison

BVAOX's dividend yield for the trailing twelve months is around 9.35%, more than SCMIX's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BVAOX Madison Small Cap Fund	9.35%	10.06%	9.63%	0.29%	5.51%	28.31%	6.63%	19.91%	25.09%	0.00%	4.73%	9.18%
SCMIX Columbia Seligman Technology and Information Fund Institutional 2 Class	5.18%	7.93%	12.11%	4.52%	8.08%	10.45%	9.38%	10.47%	11.30%	10.48%	7.88%	10.40%

Frequently Asked Questions

Can I hold both BVAOX and SCMIX in my portfolio?

BVAOX and SCMIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BVAOX or SCMIX?

SCMIX has higher volatility (6.60%) compared to BVAOX (4.67%). In terms of maximum drawdown, BVAOX dropped -75.76% vs SCMIX's -50.85%.

Which has better risk-adjusted returns?

SCMIX currently has the higher Sharpe Ratio (4.84 vs 0.50), 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.