CFVLX vs. CFBNX

Last updated Jun 23, 2026

CFVLX (Commerce Value Fund) and CFBNX (Commerce Bond Fund) are both mutual funds - CFVLX is a Large Cap Value Equities fund managed by Commerce, while CFBNX is a Intermediate Core Bond fund managed by Commerce. Over the past 10 years, CFVLX returned 10.10%/yr vs 1.91%/yr for CFBNX. At a correlation of -0.14, they often move in opposite directions. CFVLX charges 0.67%/yr vs 0.60%/yr for CFBNX.

Performance

CFVLX vs. CFBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commerce Value Fund (CFVLX) and Commerce Bond Fund (CFBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CFVLX achieves a 11.93% return, which is significantly higher than CFBNX's 0.41% return. Over the past 10 years, CFVLX has outperformed CFBNX with an annualized return of 10.10%, while CFBNX has yielded a comparatively lower 1.91% annualized return.

CFVLX

• 1D: 0.37%
• 1M: 0.51%
• YTD: 11.93%
• 6M: 11.41%
• 1Y: 23.37%
• 3Y*: 13.89%
• 5Y*: 9.00%
• 10Y*: 10.10%

CFBNX

• 1D: 0.22%
• 1M: 0.87%
• YTD: 0.41%
• 6M: 0.72%
• 1Y: 4.83%
• 3Y*: 4.16%
• 5Y*: 0.07%
• 10Y*: 1.91%

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

CFVLX vs. CFBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFVLX Commerce Value Fund	11.93%	12.08%	11.28%	3.22%	-2.93%	24.74%	0.85%	24.03%	-3.22%	12.94%
CFBNX Commerce Bond Fund	0.41%	7.12%	1.52%	5.97%	-13.30%	-0.56%	7.15%	8.97%	-0.58%	4.55%

Correlation

The correlation between CFVLX and CFBNX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Feb 28, 1997	-0.14

The correlation between CFVLX and CFBNX shifts across timeframes, from -0.14 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CFVLX vs. CFBNX — Risk / Return Rank

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

CFVLX

CFVLX Risk / Return Rank: 72
CFVLX Sharpe Ratio Rank: 72
CFVLX Sortino Ratio Rank: 76
CFVLX Omega Ratio Rank: 63
CFVLX Calmar Ratio Rank: 77
CFVLX Martin Ratio Rank: 74

CFBNX

CFBNX Risk / Return Rank: 22
CFBNX Sharpe Ratio Rank: 23
CFBNX Sortino Ratio Rank: 24
CFBNX Omega Ratio Rank: 21
CFBNX Calmar Ratio Rank: 22
CFBNX Martin Ratio Rank: 19

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.

CFVLX vs. CFBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commerce Value Fund (CFVLX) and Commerce Bond Fund (CFBNX). 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.

	CFVLX	CFBNX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.27	+1.00
Sortino ratio: Return per unit of downside risk	3.31	1.89	+1.42
Omega ratio: Gain probability vs. loss probability	1.40	1.22	+0.18
Calmar ratio: Return relative to maximum drawdown	3.29	1.63	+1.67
Martin ratio: Return relative to average drawdown	13.02	4.53	+8.49

CFVLX vs. CFBNX - Sharpe Ratio Comparison

The current CFVLX Sharpe Ratio is 2.27, which is higher than the CFBNX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of CFVLX and CFBNX, 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

CFVLX vs. CFBNX - Drawdown Comparison

The maximum CFVLX drawdown since its inception was -58.89%, which is greater than CFBNX's maximum drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for CFVLX and CFBNX.

Drawdown Indicators

	CFVLX	CFBNX	Difference
Max Drawdown Largest peak-to-trough decline	-58.89%	-17.90%	-40.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-2.98%	-4.25%
Max Drawdown (3Y) Largest decline over 3 years	-14.55%	-5.72%	-8.83%
Max Drawdown (5Y) Largest decline over 5 years	-17.86%	-17.90%	+0.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.70%	-17.90%	-17.80%
Current Drawdown Current decline from peak	-0.81%	-1.47%	+0.66%
Average Drawdown Average peak-to-trough decline	-9.28%	-2.11%	-7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.07%	+0.75%

Volatility

CFVLX vs. CFBNX - Volatility Comparison

Commerce Value Fund (CFVLX) has a higher volatility of 3.56% compared to Commerce Bond Fund (CFBNX) at 1.19%. This indicates that CFVLX's price experiences larger fluctuations and is considered to be riskier than CFBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFVLX	CFBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	1.19%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	2.85%	+5.42%
Volatility (1Y) Calculated over the trailing 1-year period	10.46%	3.82%	+6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	5.56%	+8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	4.71%	+11.92%

CFVLX vs. CFBNX - Expense Ratio Comparison

CFVLX has a 0.67% expense ratio, which is higher than CFBNX's 0.60% expense ratio.

Dividends

CFVLX vs. CFBNX - Dividend Comparison

CFVLX's dividend yield for the trailing twelve months is around 9.84%, more than CFBNX's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFBNX Commerce Bond Fund	3.62%	3.54%	2.94%	2.67%	2.40%	3.02%	2.71%	3.14%	3.25%	3.23%	3.40%	3.52%
CFVLX Commerce Value Fund	9.84%	12.19%	8.28%	6.41%	8.52%	5.20%	2.70%	7.40%	13.10%	13.15%	4.32%	3.12%

Frequently Asked Questions

Can I hold both CFVLX and CFBNX in my portfolio?

CFVLX and CFBNX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFVLX or CFBNX?

CFVLX has higher volatility (3.56%) compared to CFBNX (1.19%). In terms of maximum drawdown, CFVLX dropped -58.89% vs CFBNX's -17.90%.

Which has better risk-adjusted returns?

CFVLX currently has the higher Sharpe Ratio (2.27 vs 1.27), 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.