CBALX vs. FXAIX

Last updated Jun 3, 2026

CBALX (Columbia Balanced Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - CBALX is a Diversified Portfolio fund managed by Columbia, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, CBALX returned 10.09%/yr vs 15.65%/yr for FXAIX. With a 0.97 correlation, they move nearly in lockstep. CBALX charges 0.67%/yr vs 0.02%/yr for FXAIX.

Performance

CBALX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Balanced Fund (CBALX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBALX achieves a 6.77% return, which is significantly lower than FXAIX's 11.56% return. Over the past 10 years, CBALX has underperformed FXAIX with an annualized return of 10.09%, while FXAIX has yielded a comparatively higher 15.65% annualized return.

CBALX

• 1D: 0.40%
• 1M: 3.83%
• YTD: 6.77%
• 6M: 7.37%
• 1Y: 19.47%
• 3Y*: 15.35%
• 5Y*: 8.41%
• 10Y*: 10.09%

FXAIX

• 1D: 0.27%
• 1M: 5.24%
• YTD: 11.56%
• 6M: 11.94%
• 1Y: 29.57%
• 3Y*: 22.70%
• 5Y*: 14.17%
• 10Y*: 15.65%

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

CBALX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBALX Columbia Balanced Fund	6.77%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%
FXAIX Fidelity 500 Index Fund	11.56%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between CBALX and FXAIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.97

The correlation between CBALX and FXAIX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

CBALX vs. FXAIX — Risk / Return Rank

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

CBALX

CBALX Risk / Return Rank: 64
CBALX Sharpe Ratio Rank: 68
CBALX Sortino Ratio Rank: 66
CBALX Omega Ratio Rank: 63
CBALX Calmar Ratio Rank: 59
CBALX Martin Ratio Rank: 65

FXAIX

FXAIX Risk / Return Rank: 75
FXAIX Sharpe Ratio Rank: 77
FXAIX Sortino Ratio Rank: 69
FXAIX Omega Ratio Rank: 69
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 84

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.

CBALX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Balanced Fund (CBALX) and Fidelity 500 Index Fund (FXAIX). 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.

	CBALX	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.55	-0.14
Sortino ratio Return per unit of downside risk	3.40	3.46	-0.06
Omega ratio Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio Return relative to maximum drawdown	2.96	3.39	-0.43
Martin ratio Return relative to average drawdown	12.74	15.86	-3.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBALX vs. FXAIX - Sharpe Ratio Comparison

The current CBALX Sharpe Ratio is 2.41, which is comparable to the FXAIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of CBALX and FXAIX, 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

	CBALX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.55	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.84	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.87	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.82	-0.11

Drawdowns

CBALX vs. FXAIX - Drawdown Comparison

The maximum CBALX drawdown since its inception was -34.53%, roughly equal to the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for CBALX and FXAIX.

Drawdown Indicators

	CBALX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.53%	-33.79%	-0.74%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-8.89%	+2.26%
Max Drawdown (3Y) Largest decline over 3 years	-12.06%	-18.76%	+6.70%
Max Drawdown (5Y) Largest decline over 5 years	-20.91%	-24.50%	+3.59%
Max Drawdown (10Y) Largest decline over 10 years	-22.73%	-33.79%	+11.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.31%	-3.79%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.90%	-0.36%

Volatility

CBALX vs. FXAIX - Volatility Comparison

The current volatility for Columbia Balanced Fund (CBALX) is 2.38%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 2.82%. This indicates that CBALX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBALX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	2.82%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	8.99%	-2.64%
Volatility (1Y) Calculated over the trailing 1-year period	8.22%	11.88%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	16.91%	-5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.34%	18.07%	-6.73%

CBALX vs. FXAIX - Expense Ratio Comparison

CBALX has a 0.67% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

CBALX vs. FXAIX - Dividend Comparison

CBALX's dividend yield for the trailing twelve months is around 6.08%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBALX Columbia Balanced Fund	6.08%	6.42%	7.83%	1.84%	5.36%	9.26%	5.31%	4.16%	5.82%	2.79%	1.60%	4.05%
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both CBALX and FXAIX in my portfolio?

With a correlation of 0.96, CBALX and FXAIX 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, CBALX or FXAIX?

FXAIX has higher volatility (2.82%) compared to CBALX (2.38%). In terms of maximum drawdown, CBALX dropped -34.53% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.55 vs 2.41), 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.