NMSCX vs. CBALX

Last updated Jun 3, 2026

NMSCX (Columbia Small Cap Index Fund) and CBALX (Columbia Balanced Fund) are both mutual funds - NMSCX is a Small Cap Blend Equities fund managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 10 years, NMSCX returned 10.39%/yr vs 10.09%/yr for CBALX. Their correlation of 0.81 suggests significant overlap in exposure. NMSCX charges 0.20%/yr vs 0.67%/yr for CBALX.

Performance

NMSCX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Small Cap Index Fund (NMSCX) 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, NMSCX achieves a 15.27% return, which is significantly higher than CBALX's 6.77% return. Both investments have delivered pretty close results over the past 10 years, with NMSCX having a 10.39% annualized return and CBALX not far behind at 10.09%.

NMSCX

• 1D: -0.16%
• 1M: 0.73%
• YTD: 15.27%
• 6M: 15.98%
• 1Y: 33.63%
• 3Y*: 14.31%
• 5Y*: 5.42%
• 10Y*: 10.39%

CBALX

• 1D: 0.40%
• 1M: 3.83%
• YTD: 6.77%
• 6M: 7.37%
• 1Y: 19.47%
• 3Y*: 15.35%
• 5Y*: 8.41%
• 10Y*: 10.09%

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

NMSCX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMSCX Columbia Small Cap Index Fund	15.27%	5.98%	8.53%	15.78%	-16.25%	26.36%	11.20%	22.70%	-8.76%	11.77%
CBALX Columbia Balanced Fund	6.77%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%

Correlation

The correlation between NMSCX and CBALX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 10, 1996	0.81

The correlation between NMSCX and CBALX shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NMSCX vs. CBALX — Risk / Return Rank

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

NMSCX

NMSCX Risk / Return Rank: 54
NMSCX Sharpe Ratio Rank: 42
NMSCX Sortino Ratio Rank: 43
NMSCX Omega Ratio Rank: 38
NMSCX Calmar Ratio Rank: 82
NMSCX Martin Ratio Rank: 64

CBALX

CBALX Risk / Return Rank: 64
CBALX Sharpe Ratio Rank: 68
CBALX Sortino Ratio Rank: 66
CBALX Omega Ratio Rank: 63
CBALX Calmar Ratio Rank: 59
CBALX Martin Ratio Rank: 65

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.

NMSCX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Index Fund (NMSCX) 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.

	NMSCX	CBALX	Difference
Sharpe ratio Return per unit of total volatility	1.89	2.41	-0.51
Sortino ratio Return per unit of downside risk	2.75	3.40	-0.65
Omega ratio Gain probability vs. loss probability	1.33	1.44	-0.12
Calmar ratio Return relative to maximum drawdown	3.76	2.96	+0.80
Martin ratio Return relative to average drawdown	12.56	12.74	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NMSCX vs. CBALX - Sharpe Ratio Comparison

The current NMSCX Sharpe Ratio is 1.89, which is comparable to the CBALX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of NMSCX 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.

Sharpe Ratios by Period

	NMSCX	CBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.41	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.76	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.89	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.71	-0.27

Drawdowns

NMSCX vs. CBALX - Drawdown Comparison

The maximum NMSCX drawdown since its inception was -54.97%, which is greater than CBALX's maximum drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for NMSCX and CBALX.

Drawdown Indicators

	NMSCX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-54.97%	-34.53%	-20.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-6.63%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-27.92%	-12.06%	-15.86%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	-20.91%	-7.01%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	-22.73%	-21.58%
Current Drawdown Current decline from peak	-0.91%	0.00%	-0.91%
Average Drawdown Average peak-to-trough decline	-8.61%	-5.31%	-3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.54%	+1.06%

Volatility

NMSCX vs. CBALX - Volatility Comparison

Columbia Small Cap Index Fund (NMSCX) has a higher volatility of 4.39% compared to Columbia Balanced Fund (CBALX) at 2.38%. This indicates that NMSCX'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

	NMSCX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	2.38%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	6.35%	+5.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.60%	8.22%	+9.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.48%	11.08%	+10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	11.34%	+11.86%

NMSCX vs. CBALX - Expense Ratio Comparison

NMSCX has a 0.20% expense ratio, which is lower than CBALX's 0.67% expense ratio.

Dividends

NMSCX vs. CBALX - Dividend Comparison

NMSCX's dividend yield for the trailing twelve months is around 10.50%, more than CBALX's 6.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBALX Columbia Balanced Fund	6.08%	6.42%	7.83%	1.84%	5.36%	9.26%	5.31%	4.16%	5.82%	2.79%	1.60%	4.05%
NMSCX Columbia Small Cap Index Fund	10.50%	12.11%	15.80%	5.44%	10.78%	8.22%	3.07%	6.37%	11.64%	6.43%	7.28%	11.25%

Frequently Asked Questions

Can I hold both NMSCX and CBALX in my portfolio?

NMSCX and CBALX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMSCX or CBALX?

NMSCX has higher volatility (4.39%) compared to CBALX (2.38%). In terms of maximum drawdown, NMSCX dropped -54.97% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

CBALX currently has the higher Sharpe Ratio (2.41 vs 1.89), 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.