CLEYX vs. CBALX

Last updated Jun 27, 2026

CLEYX (Columbia Cornerstone Equity Fund Institutional Class 3) and CBALX (Columbia Balanced Fund) are both mutual funds - CLEYX is a Large Cap Growth Equities fund actively managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 5 years, CLEYX returned 11.87%/yr vs 7.76%/yr for CBALX. With a 0.96 correlation, they move nearly in lockstep. CLEYX charges 0.55%/yr vs 0.67%/yr for CBALX.

Performance

CLEYX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Cornerstone Equity Fund Institutional Class 3 (CLEYX) and Columbia Balanced Fund (CBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLEYX achieves a 6.85% return, which is significantly higher than CBALX's 4.61% return.

CLEYX

• 1D: 0.21%
• 1M: -0.38%
• YTD: 6.85%
• 6M: 5.60%
• 1Y: 20.22%
• 3Y*: 18.79%
• 5Y*: 11.87%
• 10Y*: —

CBALX

• 1D: -0.11%
• 1M: -0.54%
• YTD: 4.61%
• 6M: 3.89%
• 1Y: 13.46%
• 3Y*: 14.24%
• 5Y*: 7.76%
• 10Y*: 10.23%

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

CLEYX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLEYX Columbia Cornerstone Equity Fund Institutional Class 3	6.85%	14.27%	24.38%	28.50%	-19.32%	30.17%	19.72%	28.96%	-5.58%	15.70%
CBALX Columbia Balanced Fund	4.61%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	9.98%

Correlation

The correlation between CLEYX and CBALX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 1, 2017	0.96

The correlation between CLEYX and CBALX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

CLEYX vs. CBALX — Risk / Return Rank

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

CLEYX

CLEYX Risk / Return Rank: 44
CLEYX Sharpe Ratio Rank: 47
CLEYX Sortino Ratio Rank: 44
CLEYX Omega Ratio Rank: 45
CLEYX Calmar Ratio Rank: 38
CLEYX Martin Ratio Rank: 48

CBALX

CBALX Risk / Return Rank: 46
CBALX Sharpe Ratio Rank: 46
CBALX Sortino Ratio Rank: 45
CBALX Omega Ratio Rank: 46
CBALX Calmar Ratio Rank: 43
CBALX Martin Ratio Rank: 51

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.

CLEYX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Cornerstone Equity Fund Institutional Class 3 (CLEYX) and Columbia Balanced Fund (CBALX). 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.

	CLEYX	CBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.62	+0.07
Sortino ratio: Return per unit of downside risk	2.35	2.28	+0.07
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.03	2.14	-0.11
Martin ratio: Return relative to average drawdown	8.72	8.84	-0.12

CLEYX vs. CBALX - Sharpe Ratio Comparison

The current CLEYX Sharpe Ratio is 1.68, which is comparable to the CBALX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of CLEYX and CBALX, 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

CLEYX vs. CBALX - Drawdown Comparison

The maximum CLEYX drawdown since its inception was -33.40%, roughly equal to the maximum CBALX drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for CLEYX and CBALX.

Drawdown Indicators

	CLEYX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-33.40%	-34.53%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-6.63%	-3.89%
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	-12.06%	-9.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-20.91%	-4.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.73%	—
Current Drawdown Current decline from peak	-1.93%	-2.07%	+0.14%
Average Drawdown Average peak-to-trough decline	-4.82%	-5.30%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.60%	+0.85%

Volatility

CLEYX vs. CBALX - Volatility Comparison

Columbia Cornerstone Equity Fund Institutional Class 3 (CLEYX) has a higher volatility of 4.80% compared to Columbia Balanced Fund (CBALX) at 3.76%. This indicates that CLEYX's price experiences larger fluctuations and is considered to be riskier than CBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLEYX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	3.76%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	7.12%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	8.79%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	11.18%	+6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	11.36%	+7.33%

CLEYX vs. CBALX - Expense Ratio Comparison

CLEYX has a 0.55% expense ratio, which is lower than CBALX's 0.67% expense ratio.

Dividends

CLEYX vs. CBALX - Dividend Comparison

CLEYX's dividend yield for the trailing twelve months is around 6.80%, more than CBALX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBALX Columbia Balanced Fund	6.27%	6.42%	7.83%	1.84%	5.36%	9.26%	5.31%	4.16%	5.82%	2.79%	1.60%	4.05%
CLEYX Columbia Cornerstone Equity Fund Institutional Class 3	6.80%	3.19%	6.53%	5.08%	6.51%	7.70%	7.37%	5.36%	11.41%	5.75%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLEYX and CBALX in my portfolio?

With a correlation of 0.95, CLEYX and CBALX 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, CLEYX or CBALX?

CLEYX has higher volatility (4.80%) compared to CBALX (3.76%). In terms of maximum drawdown, CLEYX dropped -33.40% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

CLEYX currently has the higher Sharpe Ratio (1.68 vs 1.62), 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.