NMSCX vs. TISBX

Last updated Jun 4, 2026

NMSCX (Columbia Small Cap Index Fund) and TISBX (TIAA-CREF Small-Cap Blend Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, NMSCX returned 10.49%/yr vs 11.09%/yr for TISBX. With a 0.98 correlation, they move nearly in lockstep. NMSCX charges 0.20%/yr vs 0.05%/yr for TISBX.

Performance

NMSCX vs. TISBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Small Cap Index Fund (NMSCX) and TIAA-CREF Small-Cap Blend Index Fund (TISBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMSCX achieves a 16.29% return, which is significantly lower than TISBX's 18.69% return. Over the past 10 years, NMSCX has underperformed TISBX with an annualized return of 10.49%, while TISBX has yielded a comparatively higher 11.09% annualized return.

NMSCX

• 1D: 0.88%
• 1M: 2.61%
• YTD: 16.29%
• 6M: 15.32%
• 1Y: 32.72%
• 3Y*: 14.64%
• 5Y*: 5.78%
• 10Y*: 10.49%

TISBX

• 1D: 0.92%
• 1M: 5.00%
• YTD: 18.69%
• 6M: 17.39%
• 1Y: 41.07%
• 3Y*: 18.65%
• 5Y*: 6.67%
• 10Y*: 11.09%

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

NMSCX vs. TISBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMSCX Columbia Small Cap Index Fund	16.29%	5.98%	8.53%	15.78%	-16.25%	26.36%	11.20%	22.70%	-8.76%	11.77%
TISBX TIAA-CREF Small-Cap Blend Index Fund	18.69%	12.72%	11.60%	17.07%	-20.31%	14.85%	20.14%	25.61%	-10.99%	13.14%

Correlation

The correlation between NMSCX and TISBX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
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 1, 2002	0.98

The correlation between NMSCX and TISBX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

NMSCX vs. TISBX — Risk / Return Rank

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

NMSCX

NMSCX Risk / Return Rank: 57
NMSCX Sharpe Ratio Rank: 45
NMSCX Sortino Ratio Rank: 46
NMSCX Omega Ratio Rank: 40
NMSCX Calmar Ratio Rank: 85
NMSCX Martin Ratio Rank: 70

TISBX

TISBX Risk / Return Rank: 64
TISBX Sharpe Ratio Rank: 60
TISBX Sortino Ratio Rank: 55
TISBX Omega Ratio Rank: 47
TISBX Calmar Ratio Rank: 85
TISBX Martin Ratio Rank: 74

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. TISBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Index Fund (NMSCX) and TIAA-CREF Small-Cap Blend Index Fund (TISBX). 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	TISBX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.28	-0.29
Sortino ratio: Return per unit of downside risk	2.87	3.12	-0.26
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	4.03	3.99	+0.04
Martin ratio: Return relative to average drawdown	13.41	14.14	-0.73
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. TISBX - Sharpe Ratio Comparison

The current NMSCX Sharpe Ratio is 1.99, which is comparable to the TISBX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of NMSCX and TISBX, 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	TISBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.28	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.30	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.48	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.39	+0.06

Drawdowns

NMSCX vs. TISBX - Drawdown Comparison

The maximum NMSCX drawdown since its inception was -54.97%, roughly equal to the maximum TISBX drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for NMSCX and TISBX.

Drawdown Indicators

	NMSCX	TISBX	Difference
Max Drawdown Largest peak-to-trough decline	-54.97%	-56.50%	+1.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-10.95%	+2.27%
Max Drawdown (3Y) Largest decline over 3 years	-27.92%	-27.44%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	-31.89%	+3.97%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	-41.69%	-2.62%
Current Drawdown Current decline from peak	-0.04%	-0.13%	+0.09%
Average Drawdown Average peak-to-trough decline	-8.61%	-9.69%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	3.08%	-0.48%

Volatility

NMSCX vs. TISBX - Volatility Comparison

The current volatility for Columbia Small Cap Index Fund (NMSCX) is 4.46%, while TIAA-CREF Small-Cap Blend Index Fund (TISBX) has a volatility of 5.59%. This indicates that NMSCX experiences smaller price fluctuations and is considered to be less risky than TISBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMSCX	TISBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	5.59%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	13.58%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	19.16%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.48%	22.55%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	23.44%	-0.24%

NMSCX vs. TISBX - Expense Ratio Comparison

NMSCX has a 0.20% expense ratio, which is higher than TISBX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

NMSCX vs. TISBX - Dividend Comparison

NMSCX's dividend yield for the trailing twelve months is around 10.41%, more than TISBX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NMSCX Columbia Small Cap Index Fund	10.41%	12.11%	15.80%	5.44%	10.78%	8.22%	3.07%	6.37%	11.64%	6.43%	7.28%	11.25%
TISBX TIAA-CREF Small-Cap Blend Index Fund	3.47%	4.12%	6.82%	3.09%	1.97%	8.96%	2.65%	5.16%	9.29%	4.49%	4.03%	4.77%

Frequently Asked Questions

Can I hold both NMSCX and TISBX in my portfolio?

With a correlation of 0.94, NMSCX and TISBX 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 TISBX?

TISBX has higher volatility (5.59%) compared to NMSCX (4.46%). In terms of maximum drawdown, NMSCX dropped -54.97% vs TISBX's -56.50%.

Which has better risk-adjusted returns?

TISBX currently has the higher Sharpe Ratio (2.28 vs 1.99), 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.