CLMVX vs. BGCIX

Last updated Jun 4, 2026

CLMVX (Columbia Mortgage Opportunities Fund) and BGCIX (BlackRock Global Long/Short Credit Fund) are both Nontraditional Bonds funds. Over the past 10 years, CLMVX returned 4.32%/yr vs 4.22%/yr for BGCIX. At a 0.16 correlation, their price movements are largely independent. CLMVX charges 0.70%/yr vs 1.12%/yr for BGCIX.

Performance

CLMVX vs. BGCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Mortgage Opportunities Fund (CLMVX) and BlackRock Global Long/Short Credit Fund (BGCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLMVX achieves a 0.66% return, which is significantly lower than BGCIX's 1.33% return. Both investments have delivered pretty close results over the past 10 years, with CLMVX having a 4.32% annualized return and BGCIX not far behind at 4.22%.

CLMVX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.66%
• 6M: 0.74%
• 1Y: 7.20%
• 3Y*: 7.91%
• 5Y*: 0.74%
• 10Y*: 4.32%

BGCIX

• 1D: 0.00%
• 1M: 0.77%
• YTD: 1.33%
• 6M: 1.74%
• 1Y: 4.81%
• 3Y*: 7.26%
• 5Y*: 3.27%
• 10Y*: 4.22%

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

CLMVX vs. BGCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLMVX Columbia Mortgage Opportunities Fund	0.66%	11.95%	5.30%	7.57%	-17.82%	5.44%	9.25%	6.44%	7.90%	5.41%
BGCIX BlackRock Global Long/Short Credit Fund	1.33%	6.55%	8.47%	8.87%	-8.02%	3.48%	10.71%	7.43%	-1.78%	3.46%

Correlation

The correlation between CLMVX and BGCIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 2, 2014	0.16

The correlation between CLMVX and BGCIX shifts across timeframes, from 0.16 (all time) to 0.32 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CLMVX vs. BGCIX — Risk / Return Rank

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

CLMVX

CLMVX Risk / Return Rank: 35
CLMVX Sharpe Ratio Rank: 35
CLMVX Sortino Ratio Rank: 39
CLMVX Omega Ratio Rank: 36
CLMVX Calmar Ratio Rank: 35
CLMVX Martin Ratio Rank: 31

BGCIX

BGCIX Risk / Return Rank: 95
BGCIX Sharpe Ratio Rank: 96
BGCIX Sortino Ratio Rank: 98
BGCIX Omega Ratio Rank: 97
BGCIX Calmar Ratio Rank: 91
BGCIX Martin Ratio Rank: 93

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.

CLMVX vs. BGCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Mortgage Opportunities Fund (CLMVX) and BlackRock Global Long/Short Credit Fund (BGCIX). 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.

	CLMVX	BGCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	3.56	-1.84
Sortino ratio: Return per unit of downside risk	2.61	6.18	-3.57
Omega ratio: Gain probability vs. loss probability	1.32	1.99	-0.68
Calmar ratio: Return relative to maximum drawdown	2.22	4.88	-2.66
Martin ratio: Return relative to average drawdown	7.21	20.54	-13.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLMVX vs. BGCIX - Sharpe Ratio Comparison

The current CLMVX Sharpe Ratio is 1.72, which is lower than the BGCIX Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of CLMVX and BGCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLMVX	BGCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	3.56	-1.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	1.73	-1.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	1.34	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.35	-0.57

Drawdowns

CLMVX vs. BGCIX - Drawdown Comparison

The maximum CLMVX drawdown since its inception was -22.15%, which is greater than BGCIX's maximum drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for CLMVX and BGCIX.

Drawdown Indicators

	CLMVX	BGCIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.15%	-10.37%	-11.78%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-0.99%	-2.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.64%	-2.18%	-4.46%
Max Drawdown (5Y) Largest decline over 5 years	-22.15%	-9.78%	-12.37%
Max Drawdown (10Y) Largest decline over 10 years	-22.15%	-10.37%	-11.78%
Current Drawdown Current decline from peak	-1.76%	0.00%	-1.76%
Average Drawdown Average peak-to-trough decline	-3.97%	-1.27%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.23%	+0.75%

Volatility

CLMVX vs. BGCIX - Volatility Comparison

Columbia Mortgage Opportunities Fund (CLMVX) has a higher volatility of 1.48% compared to BlackRock Global Long/Short Credit Fund (BGCIX) at 0.39%. This indicates that CLMVX's price experiences larger fluctuations and is considered to be riskier than BGCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLMVX	BGCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	0.39%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	2.84%	0.97%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	1.36%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.74%	1.90%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.54%	3.15%	+2.39%

CLMVX vs. BGCIX - Expense Ratio Comparison

CLMVX has a 0.70% expense ratio, which is lower than BGCIX's 1.12% expense ratio.

Dividends

CLMVX vs. BGCIX - Dividend Comparison

CLMVX's dividend yield for the trailing twelve months is around 4.95%, less than BGCIX's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGCIX BlackRock Global Long/Short Credit Fund	5.75%	5.83%	7.13%	3.33%	8.25%	3.57%	9.87%	3.75%	6.01%	1.16%	0.00%	5.11%
CLMVX Columbia Mortgage Opportunities Fund	4.95%	5.63%	5.88%	6.64%	6.89%	4.43%	6.05%	4.36%	4.51%	7.85%	4.52%	4.86%

Frequently Asked Questions

Can I hold both CLMVX and BGCIX in my portfolio?

CLMVX and BGCIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLMVX or BGCIX?

CLMVX has higher volatility (1.48%) compared to BGCIX (0.39%). In terms of maximum drawdown, CLMVX dropped -22.15% vs BGCIX's -10.37%.

Which has better risk-adjusted returns?

BGCIX currently has the higher Sharpe Ratio (3.56 vs 1.72), 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.