INDZX vs. SMGIX

Last updated Jun 4, 2026

INDZX (Columbia Large Cap Value Fund) and SMGIX (Columbia Contrarian Core Fund) are both mutual funds - INDZX is a Large Cap Value Equities fund managed by Columbia, while SMGIX is a Large Cap Blend Equities fund managed by Columbia. Over the past 10 years, INDZX returned 12.96%/yr vs 14.78%/yr for SMGIX. Their correlation of 0.90 suggests significant overlap in exposure. INDZX charges 0.97%/yr vs 0.75%/yr for SMGIX.

Performance

INDZX vs. SMGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Large Cap Value Fund (INDZX) and Columbia Contrarian Core Fund (SMGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDZX achieves a 14.05% return, which is significantly higher than SMGIX's 10.46% return. Over the past 10 years, INDZX has underperformed SMGIX with an annualized return of 12.96%, while SMGIX has yielded a comparatively higher 14.78% annualized return.

INDZX

• 1D: 0.19%
• 1M: 5.00%
• YTD: 14.05%
• 6M: 14.46%
• 1Y: 31.83%
• 3Y*: 20.37%
• 5Y*: 11.30%
• 10Y*: 12.96%

SMGIX

• 1D: 0.05%
• 1M: 6.24%
• YTD: 10.46%
• 6M: 10.80%
• 1Y: 27.40%
• 3Y*: 22.05%
• 5Y*: 13.42%
• 10Y*: 14.78%

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

INDZX vs. SMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDZX Columbia Large Cap Value Fund	14.05%	19.67%	15.42%	9.64%	-5.26%	23.70%	13.01%	29.81%	-11.20%	16.20%
SMGIX Columbia Contrarian Core Fund	10.46%	17.35%	23.33%	32.12%	-18.64%	24.18%	22.21%	32.95%	-8.95%	20.57%

Correlation

The correlation between INDZX and SMGIX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 5, 1993	0.90

The correlation between INDZX and SMGIX shifts across timeframes, from 0.75 (3 years) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

INDZX vs. SMGIX — Risk / Return Rank

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

INDZX

INDZX Risk / Return Rank: 88
INDZX Sharpe Ratio Rank: 90
INDZX Sortino Ratio Rank: 88
INDZX Omega Ratio Rank: 81
INDZX Calmar Ratio Rank: 89
INDZX Martin Ratio Rank: 91

SMGIX

SMGIX Risk / Return Rank: 58
SMGIX Sharpe Ratio Rank: 63
SMGIX Sortino Ratio Rank: 56
SMGIX Omega Ratio Rank: 57
SMGIX Calmar Ratio Rank: 55
SMGIX Martin Ratio Rank: 59

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.

INDZX vs. SMGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Large Cap Value Fund (INDZX) and Columbia Contrarian Core Fund (SMGIX). 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.

	INDZX	SMGIX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	2.34	+0.68
Sortino ratio: Return per unit of downside risk	4.23	3.15	+1.08
Omega ratio: Gain probability vs. loss probability	1.54	1.42	+0.12
Calmar ratio: Return relative to maximum drawdown	4.58	2.85	+1.73
Martin ratio: Return relative to average drawdown	18.96	11.72	+7.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDZX vs. SMGIX - Sharpe Ratio Comparison

The current INDZX Sharpe Ratio is 3.02, which is comparable to the SMGIX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of INDZX and SMGIX, 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

	INDZX	SMGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.34	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.71	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.78	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.70	-0.07

Drawdowns

INDZX vs. SMGIX - Drawdown Comparison

The maximum INDZX drawdown since its inception was -59.02%, which is greater than SMGIX's maximum drawdown of -50.62%. Use the drawdown chart below to compare losses from any high point for INDZX and SMGIX.

Drawdown Indicators

	INDZX	SMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-50.62%	-8.40%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-9.99%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-19.92%	+4.19%
Max Drawdown (5Y) Largest decline over 5 years	-18.21%	-32.20%	+13.99%
Max Drawdown (10Y) Largest decline over 10 years	-38.51%	-32.45%	-6.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.04%	-6.74%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	2.42%	-0.70%

Volatility

INDZX vs. SMGIX - Volatility Comparison

Columbia Large Cap Value Fund (INDZX) and Columbia Contrarian Core Fund (SMGIX) have volatilities of 3.05% and 3.03%, 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

	INDZX	SMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.03%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	9.05%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	12.18%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.70%	18.98%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	18.98%	-1.22%

INDZX vs. SMGIX - Expense Ratio Comparison

INDZX has a 0.97% expense ratio, which is higher than SMGIX's 0.75% expense ratio.

Dividends

INDZX vs. SMGIX - Dividend Comparison

INDZX's dividend yield for the trailing twelve months is around 6.41%, less than SMGIX's 6.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDZX Columbia Large Cap Value Fund	6.41%	7.40%	9.31%	5.79%	9.05%	6.47%	8.08%	5.65%	12.21%	6.39%	2.66%	13.70%
SMGIX Columbia Contrarian Core Fund	6.69%	7.39%	9.69%	3.08%	10.61%	13.70%	7.69%	5.87%	10.17%	4.89%	0.76%	5.86%

Frequently Asked Questions

Can I hold both INDZX and SMGIX in my portfolio?

INDZX and SMGIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDZX or SMGIX?

INDZX has higher volatility (3.05%) compared to SMGIX (3.03%). In terms of maximum drawdown, INDZX dropped -59.02% vs SMGIX's -50.62%.

Which has better risk-adjusted returns?

INDZX currently has the higher Sharpe Ratio (3.02 vs 2.34), 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.