CLEYX vs. CDDYX

Last updated Jun 23, 2026

CLEYX (Columbia Cornerstone Equity Fund Institutional Class 3) and CDDYX (Columbia Dividend Income Fund Institutional 3 Class) are both mutual funds - CLEYX is a Large Cap Growth Equities fund actively managed by Columbia, while CDDYX is a Large Cap Value Equities fund managed by Columbia. Over the past 5 years, CLEYX returned 12.70%/yr vs 11.63%/yr for CDDYX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.55% expense ratio.

Performance

CLEYX vs. CDDYX - 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 Dividend Income Fund Institutional 3 Class (CDDYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLEYX achieves a 8.11% return, which is significantly lower than CDDYX's 8.90% return.

CLEYX

• 1D: 1.03%
• 1M: 1.64%
• YTD: 8.11%
• 6M: 7.70%
• 1Y: 25.41%
• 3Y*: 18.63%
• 5Y*: 12.70%
• 10Y*: —

CDDYX

• 1D: -0.11%
• 1M: 0.39%
• YTD: 8.90%
• 6M: 8.40%
• 1Y: 21.55%
• 3Y*: 15.99%
• 5Y*: 11.63%
• 10Y*: 12.75%

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

CLEYX vs. CDDYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLEYX Columbia Cornerstone Equity Fund Institutional Class 3	8.11%	14.27%	24.38%	28.50%	-19.32%	30.17%	19.72%	28.96%	-5.58%	15.70%
CDDYX Columbia Dividend Income Fund Institutional 3 Class	8.90%	15.95%	15.17%	10.65%	-4.84%	26.43%	7.92%	28.74%	-4.27%	14.50%

Correlation

The correlation between CLEYX and CDDYX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 1, 2017	0.85

Over the past year, the correlation between CLEYX and CDDYX has dropped to 0.64 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

CLEYX vs. CDDYX — Risk / Return Rank

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

CLEYX

CLEYX Risk / Return Rank: 50
CLEYX Sharpe Ratio Rank: 53
CLEYX Sortino Ratio Rank: 49
CLEYX Omega Ratio Rank: 50
CLEYX Calmar Ratio Rank: 43
CLEYX Martin Ratio Rank: 54

CDDYX

CDDYX Risk / Return Rank: 79
CDDYX Sharpe Ratio Rank: 77
CDDYX Sortino Ratio Rank: 78
CDDYX Omega Ratio Rank: 69
CDDYX Calmar Ratio Rank: 86
CDDYX Martin Ratio Rank: 85

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. CDDYX - 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 Dividend Income Fund Institutional 3 Class (CDDYX). 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	CDDYX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.36	-0.39
Sortino ratio: Return per unit of downside risk	2.72	3.40	-0.67
Omega ratio: Gain probability vs. loss probability	1.36	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	2.39	3.93	-1.55
Martin ratio: Return relative to average drawdown	10.28	14.84	-4.57

CLEYX vs. CDDYX - Sharpe Ratio Comparison

The current CLEYX Sharpe Ratio is 1.97, which is comparable to the CDDYX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of CLEYX and CDDYX, 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. CDDYX - Drawdown Comparison

The maximum CLEYX drawdown since its inception was -33.40%, roughly equal to the maximum CDDYX drawdown of -32.74%. Use the drawdown chart below to compare losses from any high point for CLEYX and CDDYX.

Drawdown Indicators

	CLEYX	CDDYX	Difference
Max Drawdown Largest peak-to-trough decline	-33.40%	-32.74%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-5.51%	-5.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	-12.99%	-8.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-16.91%	-8.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.74%	—
Current Drawdown Current decline from peak	-0.78%	-1.04%	+0.26%
Average Drawdown Average peak-to-trough decline	-4.82%	-2.76%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	1.46%	+0.98%

Volatility

CLEYX vs. CDDYX - Volatility Comparison

Columbia Cornerstone Equity Fund Institutional Class 3 (CLEYX) has a higher volatility of 4.81% compared to Columbia Dividend Income Fund Institutional 3 Class (CDDYX) at 2.65%. This indicates that CLEYX's price experiences larger fluctuations and is considered to be riskier than CDDYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLEYX	CDDYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	2.65%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	6.89%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	9.17%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	13.27%	+4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	15.69%	+3.02%

CLEYX vs. CDDYX - Expense Ratio Comparison

Both CLEYX and CDDYX have an expense ratio of 0.55%.

Dividends

CLEYX vs. CDDYX - Dividend Comparison

CLEYX's dividend yield for the trailing twelve months is around 1.23%, less than CDDYX's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDDYX Columbia Dividend Income Fund Institutional 3 Class	4.94%	5.33%	5.99%	4.96%	3.90%	2.93%	1.85%	3.28%	7.65%	4.03%	3.84%	8.35%
CLEYX Columbia Cornerstone Equity Fund Institutional Class 3	1.23%	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 CDDYX in my portfolio?

CLEYX and CDDYX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLEYX or CDDYX?

CLEYX has higher volatility (4.81%) compared to CDDYX (2.65%). In terms of maximum drawdown, CLEYX dropped -33.40% vs CDDYX's -32.74%.

Which has better risk-adjusted returns?

CDDYX currently has the higher Sharpe Ratio (2.36 vs 1.97), 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.