CFSTX vs. CFMOX

Last updated Jun 24, 2026

CFSTX (Commerce Short Term Government Fund) and CFMOX (Commerce Missouri Tax-Free Intermediate Bond Fund) are both mutual funds - CFSTX is a Government Bonds fund managed by Commerce, while CFMOX is a Municipal Bonds fund managed by Commerce. Over the past 10 years, CFSTX returned 1.16%/yr vs 1.65%/yr for CFMOX. A 0.59 correlation means they provide meaningful diversification when combined. CFSTX charges 0.68%/yr vs 0.63%/yr for CFMOX.

Performance

CFSTX vs. CFMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commerce Short Term Government Fund (CFSTX) and Commerce Missouri Tax-Free Intermediate Bond Fund (CFMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFSTX achieves a -0.61% return, which is significantly lower than CFMOX's 0.99% return. Over the past 10 years, CFSTX has underperformed CFMOX with an annualized return of 1.16%, while CFMOX has yielded a comparatively higher 1.65% annualized return.

CFSTX

• 1D: -0.06%
• 1M: -0.02%
• YTD: -0.61%
• 6M: -0.31%
• 1Y: 2.00%
• 3Y*: 3.48%
• 5Y*: 0.85%
• 10Y*: 1.16%

CFMOX

• 1D: -0.05%
• 1M: 1.25%
• YTD: 0.99%
• 6M: 1.31%
• 1Y: 5.59%
• 3Y*: 3.28%
• 5Y*: 0.82%
• 10Y*: 1.65%

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

CFSTX vs. CFMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFSTX Commerce Short Term Government Fund	-0.61%	5.25%	3.12%	4.28%	-6.59%	-1.19%	3.09%	3.56%	1.01%	0.84%
CFMOX Commerce Missouri Tax-Free Intermediate Bond Fund	0.99%	5.33%	0.38%	4.87%	-7.32%	0.69%	3.87%	6.12%	0.81%	4.51%

Correlation

The correlation between CFSTX and CFMOX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	0.59

The correlation between CFSTX and CFMOX has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

Return for Risk

CFSTX vs. CFMOX — Risk / Return Rank

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

CFSTX

CFSTX Risk / Return Rank: 17
CFSTX Sharpe Ratio Rank: 19
CFSTX Sortino Ratio Rank: 20
CFSTX Omega Ratio Rank: 19
CFSTX Calmar Ratio Rank: 15
CFSTX Martin Ratio Rank: 15

CFMOX

CFMOX Risk / Return Rank: 65
CFMOX Sharpe Ratio Rank: 84
CFMOX Sortino Ratio Rank: 86
CFMOX Omega Ratio Rank: 91
CFMOX Calmar Ratio Rank: 31
CFMOX Martin Ratio Rank: 30

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.

CFSTX vs. CFMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commerce Short Term Government Fund (CFSTX) and Commerce Missouri Tax-Free Intermediate Bond Fund (CFMOX). 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.

	CFSTX	CFMOX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.55	-1.41
Sortino ratio: Return per unit of downside risk	1.75	3.82	-2.07
Omega ratio: Gain probability vs. loss probability	1.21	1.63	-0.43
Calmar ratio: Return relative to maximum drawdown	1.24	1.98	-0.74
Martin ratio: Return relative to average drawdown	3.71	6.55	-2.84

CFSTX vs. CFMOX - Sharpe Ratio Comparison

The current CFSTX Sharpe Ratio is 1.14, which is lower than the CFMOX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of CFSTX and CFMOX, 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

CFSTX vs. CFMOX - Drawdown Comparison

The maximum CFSTX drawdown since its inception was -9.02%, smaller than the maximum CFMOX drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for CFSTX and CFMOX.

Drawdown Indicators

	CFSTX	CFMOX	Difference
Max Drawdown Largest peak-to-trough decline	-9.02%	-12.14%	+3.12%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-2.89%	+1.17%
Max Drawdown (3Y) Largest decline over 3 years	-1.72%	-5.96%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	-9.02%	-12.14%	+3.12%
Max Drawdown (10Y) Largest decline over 10 years	-9.02%	-12.14%	+3.12%
Current Drawdown Current decline from peak	-1.61%	-0.81%	-0.80%
Average Drawdown Average peak-to-trough decline	-0.97%	-1.42%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	0.87%	-0.30%

Volatility

CFSTX vs. CFMOX - Volatility Comparison

Commerce Short Term Government Fund (CFSTX) and Commerce Missouri Tax-Free Intermediate Bond Fund (CFMOX) have volatilities of 0.63% and 0.63%, 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.

Volatility by Period

	CFSTX	CFMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	0.63%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.46%	1.82%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	1.87%	2.25%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.35%	3.46%	-1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	3.33%	-1.35%

CFSTX vs. CFMOX - Expense Ratio Comparison

CFSTX has a 0.68% expense ratio, which is higher than CFMOX's 0.63% expense ratio.

Dividends

CFSTX vs. CFMOX - Dividend Comparison

CFSTX's dividend yield for the trailing twelve months is around 2.57%, less than CFMOX's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFMOX Commerce Missouri Tax-Free Intermediate Bond Fund	2.61%	3.41%	2.16%	2.11%	1.60%	1.78%	1.84%	2.33%	2.44%	2.48%	2.46%	2.43%
CFSTX Commerce Short Term Government Fund	2.57%	2.26%	1.62%	2.05%	1.30%	1.53%	1.99%	2.44%	1.94%	1.61%	1.69%	1.40%

Frequently Asked Questions

Can I hold both CFSTX and CFMOX in my portfolio?

CFSTX and CFMOX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFSTX or CFMOX?

CFMOX has higher volatility (0.63%) compared to CFSTX (0.63%). In terms of maximum drawdown, CFSTX dropped -9.02% vs CFMOX's -12.14%.

Which has better risk-adjusted returns?

CFMOX currently has the higher Sharpe Ratio (2.55 vs 1.14), 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.