NMSCX vs. CSMDX

Last updated Aug 1, 2026

NMSCX (Columbia Small Cap Index Fund) and CSMDX (Copeland SMID Cap Dividend Growth Fund) are both Small Cap Blend Equities funds. Over the past 5 years, NMSCX returned 7.30%/yr vs 5.03%/yr for CSMDX. Their correlation of 0.93 means they have usually moved in the same direction. NMSCX charges 0.20%/yr vs 0.95%/yr for CSMDX.

Performance

NMSCX vs. CSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Small Cap Index Fund (NMSCX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMSCX achieves a 21.46% return, which is significantly higher than CSMDX's 12.84% return.

NMSCX

• 1D: 0.82%
• 1M: -0.65%
• 6M: 15.02%
• YTD: 21.46%
• 1Y: 35.96%
• 3Y*: 13.12%
• 5Y*: 7.30%
• 10Y*: 10.45%
• ALL TIME*: 10.50%

CSMDX

• 1D: -0.17%
• 1M: -1.03%
• 6M: 6.76%
• YTD: 12.84%
• 1Y: 16.52%
• 3Y*: 6.50%
• 5Y*: 5.03%
• 10Y*: —
• ALL TIME*: 8.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSMDX Copeland SMID Cap Dividend Growth Fund	$0.00	$0.00	$0.00
NMSCX Columbia Small Cap Index Fund	$0.00	$0.00	$0.00

NMSCX vs. CSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMSCX Columbia Small Cap Index Fund	21.46%	5.98%	8.53%	15.78%	-16.25%	26.36%	11.20%	22.70%	-8.76%	9.64%
CSMDX Copeland SMID Cap Dividend Growth Fund	12.84%	2.72%	2.24%	18.89%	-14.89%	22.60%	8.29%	29.90%	-5.20%	10.44%

Correlation

The correlation between NMSCX and CSMDX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (All Time) Calculated using the full available price history since Feb 27, 2017	0.93

The correlation between NMSCX and CSMDX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

NMSCX vs. CSMDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NMSCX

NMSCX Risk / Return Rank: 82
NMSCX Sharpe Ratio Rank: 77
NMSCX Sortino Ratio Rank: 78
NMSCX Omega Ratio Rank: 71
NMSCX Calmar Ratio Rank: 92
NMSCX Martin Ratio Rank: 90

CSMDX

CSMDX Risk / Return Rank: 33
CSMDX Sharpe Ratio Rank: 30
CSMDX Sortino Ratio Rank: 35
CSMDX Omega Ratio Rank: 29
CSMDX Calmar Ratio Rank: 37
CSMDX Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NMSCX vs. CSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Index Fund (NMSCX) and Copeland SMID Cap Dividend Growth Fund (CSMDX). 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.

	NMSCX	CSMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.01	+0.85
Sortino ratio: Return per unit of downside risk	2.75	1.61	+1.13
Omega ratio: Gain probability vs. loss probability	1.32	1.18	+0.14
Calmar ratio: Return relative to maximum drawdown	3.72	1.57	+2.15
Martin ratio: Return relative to average drawdown	12.71	4.87	+7.84

NMSCX vs. CSMDX - Sharpe Ratio Comparison

The current NMSCX Sharpe Ratio is 1.85, which is higher than the CSMDX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of NMSCX and CSMDX, 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

NMSCX vs. CSMDX - Drawdown Comparison

The maximum NMSCX drawdown since its inception was -54.97%, which is greater than CSMDX's maximum drawdown of -37.28%. Use the drawdown chart below to compare losses from any high point for NMSCX and CSMDX.

Drawdown Indicators

	NMSCX	CSMDX	Difference
Max Drawdown Largest peak-to-trough decline	-54.97%	-37.28%	-17.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-9.20%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-27.92%	-24.60%	-3.32%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	-24.60%	-3.32%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	—	—
Current Drawdown Current decline from peak	-1.88%	-1.60%	-0.28%
Average Drawdown Average peak-to-trough decline	-8.57%	-5.69%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.97%	-0.42%

Volatility

NMSCX vs. CSMDX - Volatility Comparison

Columbia Small Cap Index Fund (NMSCX) and Copeland SMID Cap Dividend Growth Fund (CSMDX) have volatilities of 3.45% and 3.30%, 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

	NMSCX	CSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	3.30%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	10.17%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	17.45%	14.40%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.34%	18.12%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	19.07%	+4.08%

NMSCX vs. CSMDX - Expense Ratio Comparison

NMSCX has a 0.20% expense ratio, which is lower than CSMDX's 0.95% expense ratio.

Dividends

NMSCX vs. CSMDX - Dividend Comparison

NMSCX's dividend yield for the trailing twelve months is around 13.90%, more than CSMDX's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSMDX Copeland SMID Cap Dividend Growth Fund	2.78%	3.14%	1.33%	0.81%	4.07%	6.67%	0.38%	2.61%	4.40%	0.13%	0.00%	0.00%
NMSCX Columbia Small Cap Index Fund	13.90%	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 CSMDX in my portfolio?

With a correlation of 0.91, NMSCX and CSMDX 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, NMSCX or CSMDX?

NMSCX has higher volatility (3.45%) compared to CSMDX (3.30%). In terms of maximum drawdown, NMSCX dropped -54.97% vs CSMDX's -37.28%.

Which has better risk-adjusted returns?

NMSCX currently has the higher Sharpe Ratio (1.85 vs 1.01), 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.