NBGPX vs. CBALX

Last updated Jun 27, 2026

NBGPX (Columbia Capital Allocation Moderate Aggressive Portfolio) and CBALX (Columbia Balanced Fund) are both Diversified Portfolio funds from Columbia. Over the past 10 years, NBGPX returned 9.58%/yr vs 10.23%/yr for CBALX. Their correlation of 0.94 suggests significant overlap in exposure. NBGPX charges 0.14%/yr vs 0.67%/yr for CBALX.

Performance

NBGPX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Capital Allocation Moderate Aggressive Portfolio (NBGPX) 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, NBGPX achieves a 7.24% return, which is significantly higher than CBALX's 4.61% return. Over the past 10 years, NBGPX has underperformed CBALX with an annualized return of 9.58%, while CBALX has yielded a comparatively higher 10.23% annualized return.

NBGPX

• 1D: 0.22%
• 1M: -0.44%
• YTD: 7.24%
• 6M: 6.48%
• 1Y: 18.04%
• 3Y*: 15.42%
• 5Y*: 7.27%
• 10Y*: 9.58%

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)

NBGPX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBGPX Columbia Capital Allocation Moderate Aggressive Portfolio	7.24%	17.29%	13.35%	17.73%	-17.91%	12.96%	12.98%	21.65%	-7.94%	18.82%
CBALX Columbia Balanced Fund	4.61%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%

Correlation

The correlation between NBGPX and CBALX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 15, 1996	0.94

The correlation between NBGPX and CBALX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

NBGPX vs. CBALX — Risk / Return Rank

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

NBGPX

NBGPX Risk / Return Rank: 68
NBGPX Sharpe Ratio Rank: 66
NBGPX Sortino Ratio Rank: 63
NBGPX Omega Ratio Rank: 67
NBGPX Calmar Ratio Rank: 65
NBGPX Martin Ratio Rank: 77

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.

NBGPX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Capital Allocation Moderate Aggressive Portfolio (NBGPX) 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.

	NBGPX	CBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.62	+0.34
Sortino ratio: Return per unit of downside risk	2.70	2.28	+0.42
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	2.66	2.14	+0.52
Martin ratio: Return relative to average drawdown	11.98	8.84	+3.14

NBGPX vs. CBALX - Sharpe Ratio Comparison

The current NBGPX Sharpe Ratio is 1.95, which is comparable to the CBALX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of NBGPX 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

NBGPX vs. CBALX - Drawdown Comparison

The maximum NBGPX drawdown since its inception was -40.41%, which is greater than CBALX's maximum drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for NBGPX and CBALX.

Drawdown Indicators

	NBGPX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-40.41%	-34.53%	-5.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-6.63%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-12.32%	-12.06%	-0.26%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-20.91%	-3.12%
Max Drawdown (10Y) Largest decline over 10 years	-26.76%	-22.73%	-4.03%
Current Drawdown Current decline from peak	-1.82%	-2.07%	+0.25%
Average Drawdown Average peak-to-trough decline	-4.71%	-5.30%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.60%	-0.01%

Volatility

NBGPX vs. CBALX - Volatility Comparison

Columbia Capital Allocation Moderate Aggressive Portfolio (NBGPX) has a higher volatility of 4.19% compared to Columbia Balanced Fund (CBALX) at 3.76%. This indicates that NBGPX'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

	NBGPX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	3.76%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	7.12%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	9.76%	8.79%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	11.18%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.23%	11.36%	+0.87%

NBGPX vs. CBALX - Expense Ratio Comparison

NBGPX has a 0.14% expense ratio, which is lower than CBALX's 0.67% expense ratio.

Dividends

NBGPX vs. CBALX - Dividend Comparison

NBGPX's dividend yield for the trailing twelve months is around 3.95%, less 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%
NBGPX Columbia Capital Allocation Moderate Aggressive Portfolio	3.95%	8.12%	6.80%	4.67%	6.52%	16.00%	5.44%	7.61%	9.89%	7.46%	4.03%	6.92%

Frequently Asked Questions

Can I hold both NBGPX and CBALX in my portfolio?

With a correlation of 0.96, NBGPX 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, NBGPX or CBALX?

NBGPX has higher volatility (4.19%) compared to CBALX (3.76%). In terms of maximum drawdown, NBGPX dropped -40.41% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

NBGPX currently has the higher Sharpe Ratio (1.95 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.