NIPAX vs. SMGIX

Last updated Jun 6, 2026

NIPAX (Columbia Capital Allocation Moderate Conservative Portfolio) and SMGIX (Columbia Contrarian Core Fund) are both mutual funds - NIPAX is a Diversified Portfolio fund managed by Columbia, while SMGIX is a Large Cap Blend Equities fund managed by Columbia. Over the past 10 years, NIPAX returned 5.68%/yr vs 14.69%/yr for SMGIX. Their correlation of 0.86 suggests significant overlap in exposure. NIPAX charges 0.16%/yr vs 0.75%/yr for SMGIX.

Performance

NIPAX vs. SMGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Capital Allocation Moderate Conservative Portfolio (NIPAX) 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, NIPAX achieves a 4.84% return, which is significantly lower than SMGIX's 9.95% return. Over the past 10 years, NIPAX has underperformed SMGIX with an annualized return of 5.68%, while SMGIX has yielded a comparatively higher 14.69% annualized return.

NIPAX

• 1D: 0.18%
• 1M: 1.01%
• YTD: 4.84%
• 6M: 5.13%
• 1Y: 14.80%
• 3Y*: 10.91%
• 5Y*: 4.54%
• 10Y*: 5.68%

SMGIX

• 1D: 0.59%
• 1M: 3.50%
• YTD: 9.95%
• 6M: 9.86%
• 1Y: 26.91%
• 3Y*: 21.90%
• 5Y*: 13.11%
• 10Y*: 14.69%

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

NIPAX vs. SMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NIPAX Columbia Capital Allocation Moderate Conservative Portfolio	4.84%	13.17%	8.07%	12.30%	-15.45%	7.44%	10.00%	14.31%	-4.84%	9.59%
SMGIX Columbia Contrarian Core Fund	9.95%	17.35%	23.33%	32.12%	-18.64%	24.18%	22.21%	32.95%	-8.95%	20.57%

Correlation

The correlation between NIPAX and SMGIX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 16, 1996	0.86

The correlation between NIPAX and SMGIX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

NIPAX vs. SMGIX — Risk / Return Rank

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

NIPAX

NIPAX Risk / Return Rank: 60
NIPAX Sharpe Ratio Rank: 63
NIPAX Sortino Ratio Rank: 63
NIPAX Omega Ratio Rank: 67
NIPAX Calmar Ratio Rank: 46
NIPAX Martin Ratio Rank: 63

SMGIX

SMGIX Risk / Return Rank: 55
SMGIX Sharpe Ratio Rank: 58
SMGIX Sortino Ratio Rank: 53
SMGIX Omega Ratio Rank: 55
SMGIX Calmar Ratio Rank: 52
SMGIX Martin Ratio Rank: 57

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.

NIPAX vs. SMGIX - Risk-Adjusted Trends Comparison

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

	NIPAX	SMGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.18	+0.08
Sortino ratio: Return per unit of downside risk	3.23	2.95	+0.28
Omega ratio: Gain probability vs. loss probability	1.44	1.39	+0.05
Calmar ratio: Return relative to maximum drawdown	2.51	2.67	-0.15
Martin ratio: Return relative to average drawdown	12.00	10.97	+1.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NIPAX vs. SMGIX - Sharpe Ratio Comparison

The current NIPAX Sharpe Ratio is 2.26, which is comparable to the SMGIX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of NIPAX 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

	NIPAX	SMGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.18	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.69	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.78	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.70	+0.18

Drawdowns

NIPAX vs. SMGIX - Drawdown Comparison

The maximum NIPAX drawdown since its inception was -26.77%, smaller than the maximum SMGIX drawdown of -50.62%. Use the drawdown chart below to compare losses from any high point for NIPAX and SMGIX.

Drawdown Indicators

	NIPAX	SMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.77%	-50.62%	+23.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.82%	-9.99%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-6.56%	-19.92%	+13.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.93%	-32.20%	+12.27%
Max Drawdown (10Y) Largest decline over 10 years	-19.93%	-32.45%	+12.52%
Current Drawdown Current decline from peak	-0.27%	-0.47%	+0.20%
Average Drawdown Average peak-to-trough decline	-2.66%	-6.74%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	2.42%	-1.20%

Volatility

NIPAX vs. SMGIX - Volatility Comparison

The current volatility for Columbia Capital Allocation Moderate Conservative Portfolio (NIPAX) is 2.05%, while Columbia Contrarian Core Fund (SMGIX) has a volatility of 3.30%. This indicates that NIPAX experiences smaller price fluctuations and is considered to be less risky than SMGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NIPAX	SMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	3.30%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	5.33%	9.11%	-3.78%
Volatility (1Y) Calculated over the trailing 1-year period	6.49%	12.23%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.71%	18.98%	-11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.28%	18.98%	-11.70%

NIPAX vs. SMGIX - Expense Ratio Comparison

NIPAX has a 0.16% expense ratio, which is lower than SMGIX's 0.75% expense ratio.

Dividends

NIPAX vs. SMGIX - Dividend Comparison

NIPAX's dividend yield for the trailing twelve months is around 3.28%, less than SMGIX's 6.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NIPAX Columbia Capital Allocation Moderate Conservative Portfolio	3.28%	4.05%	3.24%	4.23%	6.79%	9.83%	5.37%	4.49%	7.06%	3.07%	3.42%	4.49%
SMGIX Columbia Contrarian Core Fund	6.72%	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 NIPAX and SMGIX in my portfolio?

NIPAX and SMGIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIPAX or SMGIX?

SMGIX has higher volatility (3.30%) compared to NIPAX (2.05%). In terms of maximum drawdown, NIPAX dropped -26.77% vs SMGIX's -50.62%.

Which has better risk-adjusted returns?

NIPAX currently has the higher Sharpe Ratio (2.26 vs 2.18), 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.