NMSCX vs. IPSIX
NMSCX (Columbia Small Cap Index Fund) and IPSIX (Voya Index Plus SmallCap Portfolio) are both Small Cap Blend Equities funds. Over the past 10 years, NMSCX returned 10.36%/yr vs 10.86%/yr for IPSIX. With a 0.98 correlation, they move nearly in lockstep. NMSCX charges 0.20%/yr vs 0.60%/yr for IPSIX.
Performance
NMSCX vs. IPSIX - Performance Comparison
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Returns By Period
In the year-to-date period, NMSCX achieves a 12.03% return, which is significantly lower than IPSIX's 21.58% return. Both investments have delivered pretty close results over the past 10 years, with NMSCX having a 10.36% annualized return and IPSIX not far ahead at 10.86%.
NMSCX
- 1D
- -6.34%
- 1M
- -2.10%
- YTD
- 12.03%
- 6M
- 9.80%
- 1Y
- 26.57%
- 3Y*
- 13.70%
- 5Y*
- 5.17%
- 10Y*
- 10.36%
IPSIX
- 1D
- 0.31%
- 1M
- 5.08%
- YTD
- 21.58%
- 6M
- 19.11%
- 1Y
- 39.31%
- 3Y*
- 17.98%
- 5Y*
- 8.88%
- 10Y*
- 10.86%
NMSCX vs. IPSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMSCX Columbia Small Cap Index Fund | 12.03% | 5.98% | 8.53% | 15.78% | -16.25% | 26.36% | 11.20% | 22.70% | -8.76% | 11.77% |
IPSIX Voya Index Plus SmallCap Portfolio | 21.58% | 8.46% | 8.64% | 18.17% | -13.82% | 28.42% | 5.25% | 21.07% | -12.34% | 9.94% |
Correlation
The correlation between NMSCX and IPSIX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1997 | 0.98 |
The correlation between NMSCX and IPSIX has been stable across timeframes, ranging from 0.88 to 0.98 - a consistent structural relationship.
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Return for Risk
NMSCX vs. IPSIX — Risk / Return Rank
NMSCX
IPSIX
NMSCX vs. IPSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Index Fund (NMSCX) and Voya Index Plus SmallCap Portfolio (IPSIX). 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 | IPSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.43 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 6.04 | -2.79 |
| Martin ratioReturn relative to average drawdown | 10.80 | 20.08 | -9.28 |
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Drawdowns
NMSCX vs. IPSIX - Drawdown Comparison
The maximum NMSCX drawdown since its inception was -54.97%, smaller than the maximum IPSIX drawdown of -58.01%. Use the drawdown chart below to compare losses from any high point for NMSCX and IPSIX.
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Drawdown Indicators
| NMSCX | IPSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.97% | -58.01% | +3.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -7.63% | -1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -27.92% | -26.60% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -27.92% | -26.60% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -44.31% | -47.92% | +3.61% |
Current DrawdownCurrent decline from peak | -6.38% | 0.00% | -6.38% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -9.69% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.26% | +0.35% |
Volatility
NMSCX vs. IPSIX - Volatility Comparison
Columbia Small Cap Index Fund (NMSCX) has a higher volatility of 8.40% compared to Voya Index Plus SmallCap Portfolio (IPSIX) at 5.06%. This indicates that NMSCX's price experiences larger fluctuations and is considered to be riskier than IPSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMSCX | IPSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.40% | 5.06% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.84% | 11.93% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.97% | 17.68% | +1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.67% | 22.02% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.31% | 23.77% | -0.46% |
NMSCX vs. IPSIX - Expense Ratio Comparison
NMSCX has a 0.20% expense ratio, which is lower than IPSIX's 0.60% expense ratio.
Dividends
NMSCX vs. IPSIX - Dividend Comparison
NMSCX's dividend yield for the trailing twelve months is around 7.28%, less than IPSIX's 8.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPSIX Voya Index Plus SmallCap Portfolio | 8.99% | 5.72% | 4.44% | 4.20% | 19.88% | 0.65% | 1.98% | 16.87% | 18.12% | 9.69% | 3.19% | 0.93% |
NMSCX Columbia Small Cap Index Fund | 7.28% | 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
NMSCX and IPSIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMSCX has higher volatility (8.40%) compared to IPSIX (5.06%). In terms of maximum drawdown, NMSCX dropped -54.97% vs IPSIX's -58.01%.
IPSIX currently has the higher Sharpe Ratio (2.61 vs 1.49), 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.
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