CFNLX vs. KTXIX
CFNLX (Commerce National Tax-Free Intermediate Bond Fund) and KTXIX (Commerce Kansas Tax-Free Intermediate Bond Fund) are both Municipal Bonds funds from Commerce. Over the past 10 years, CFNLX returned 1.62%/yr vs 1.24%/yr for KTXIX. Their correlation of 0.92 means they have usually moved in the same direction. CFNLX charges 0.59%/yr vs 0.70%/yr for KTXIX.
Performance
CFNLX vs. KTXIX - Performance Comparison
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Returns By Period
In the year-to-date period, CFNLX achieves a -0.51% return, which is significantly higher than KTXIX's -0.87% return. Over the past 10 years, CFNLX has outperformed KTXIX with an annualized return of 1.62%, while KTXIX has yielded a comparatively lower 1.24% annualized return.
CFNLX
- 1D
- -0.21%
- 1M
- -1.90%
- 6M
- -1.47%
- YTD
- -0.51%
- 1Y
- 3.37%
- 3Y*
- 3.09%
- 5Y*
- 0.50%
- 10Y*
- 1.62%
- ALL TIME*
- 3.66%
KTXIX
- 1D
- -0.27%
- 1M
- -1.89%
- 6M
- -1.51%
- YTD
- -0.87%
- 1Y
- 2.79%
- 3Y*
- 2.50%
- 5Y*
- 0.08%
- 10Y*
- 1.24%
- ALL TIME*
- 3.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CFNLX vs. KTXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CFNLX Commerce National Tax-Free Intermediate Bond Fund | -0.51% | 6.09% | 0.70% | 4.83% | -7.39% | 0.40% | 4.68% | 6.81% | 0.80% | 4.81% |
KTXIX Commerce Kansas Tax-Free Intermediate Bond Fund | -0.87% | 5.32% | 0.39% | 4.05% | -7.55% | 0.23% | 4.32% | 5.79% | 0.95% | 3.95% |
Correlation
The correlation between CFNLX and KTXIX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2000 | 0.92 |
The correlation between CFNLX and KTXIX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
CFNLX vs. KTXIX — Risk / Return Rank
CFNLX
KTXIX
CFNLX vs. KTXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Commerce National Tax-Free Intermediate Bond Fund (CFNLX) and Commerce Kansas Tax-Free Intermediate Bond Fund (KTXIX). 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.
| CFNLX | KTXIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.19 | +0.14 |
| Martin ratioReturn relative to average drawdown | 3.68 | 3.32 | +0.36 |
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Drawdowns
CFNLX vs. KTXIX - Drawdown Comparison
The maximum CFNLX drawdown since its inception was -12.24%, roughly equal to the maximum KTXIX drawdown of -12.47%. Use the drawdown chart below to compare losses from any high point for CFNLX and KTXIX.
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Drawdown Indicators
| CFNLX | KTXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.24% | -12.47% | +0.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -2.87% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.65% | -4.62% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -12.24% | -12.47% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -12.24% | -12.47% | +0.23% |
Current DrawdownCurrent decline from peak | -2.61% | -2.52% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -1.63% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.03% | +0.07% |
Volatility
CFNLX vs. KTXIX - Volatility Comparison
Commerce National Tax-Free Intermediate Bond Fund (CFNLX) and Commerce Kansas Tax-Free Intermediate Bond Fund (KTXIX) have volatilities of 0.88% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFNLX | KTXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.86% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 1.96% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.41% | 2.29% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 3.21% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 3.26% | +0.10% |
CFNLX vs. KTXIX - Expense Ratio Comparison
CFNLX has a 0.59% expense ratio, which is lower than KTXIX's 0.70% expense ratio.
Dividends
CFNLX vs. KTXIX - Dividend Comparison
CFNLX's dividend yield for the trailing twelve months is around 2.60%, more than KTXIX's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFNLX Commerce National Tax-Free Intermediate Bond Fund | 2.60% | 3.64% | 2.36% | 2.08% | 1.63% | 2.43% | 1.94% | 2.65% | 2.38% | 2.31% | 2.25% | 2.19% |
KTXIX Commerce Kansas Tax-Free Intermediate Bond Fund | 2.51% | 3.38% | 2.19% | 2.02% | 1.49% | 1.53% | 1.67% | 2.31% | 2.23% | 2.19% | 2.19% | 2.18% |
Frequently Asked Questions
With a correlation of 0.93, CFNLX and KTXIX 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.
CFNLX has higher volatility (0.88%) compared to KTXIX (0.86%). In terms of maximum drawdown, CFNLX dropped -12.24% vs KTXIX's -12.47%.
CFNLX currently has the higher Sharpe Ratio (1.70 vs 1.49), 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.
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