NSVAX vs. CBALX

Last updated Jun 26, 2026

NSVAX (Columbia Small Cap Value Fund II) and CBALX (Columbia Balanced Fund) are both mutual funds - NSVAX is a Small Cap Value Equities fund managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 10 years, NSVAX returned 10.73%/yr vs 10.14%/yr for CBALX. Their correlation of 0.82 suggests significant overlap in exposure. NSVAX charges 1.02%/yr vs 0.67%/yr for CBALX.

Performance

NSVAX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Small Cap Value Fund II (NSVAX) 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, NSVAX achieves a 16.40% return, which is significantly higher than CBALX's 4.72% return. Over the past 10 years, NSVAX has outperformed CBALX with an annualized return of 10.73%, while CBALX has yielded a comparatively lower 10.14% annualized return.

NSVAX

• 1D: 1.24%
• 1M: -0.26%
• YTD: 16.40%
• 6M: 14.18%
• 1Y: 32.35%
• 3Y*: 16.69%
• 5Y*: 7.51%
• 10Y*: 10.73%

CBALX

• 1D: 0.18%
• 1M: -0.53%
• YTD: 4.72%
• 6M: 4.08%
• 1Y: 14.26%
• 3Y*: 14.18%
• 5Y*: 7.78%
• 10Y*: 10.14%

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

NSVAX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NSVAX Columbia Small Cap Value Fund II	16.40%	8.20%	11.25%	14.10%	-13.70%	34.27%	10.11%	20.65%	-17.48%	10.46%
CBALX Columbia Balanced Fund	4.72%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%

Correlation

The correlation between NSVAX and CBALX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 1, 2002	0.82

Over the past year, the correlation between NSVAX and CBALX has dropped to 0.61 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

NSVAX vs. CBALX — Risk / Return Rank

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

NSVAX

NSVAX Risk / Return Rank: 62
NSVAX Sharpe Ratio Rank: 53
NSVAX Sortino Ratio Rank: 53
NSVAX Omega Ratio Rank: 49
NSVAX Calmar Ratio Rank: 83
NSVAX Martin Ratio Rank: 72

CBALX

CBALX Risk / Return Rank: 46
CBALX Sharpe Ratio Rank: 46
CBALX Sortino Ratio Rank: 45
CBALX Omega Ratio Rank: 45
CBALX Calmar Ratio Rank: 43
CBALX Martin Ratio Rank: 51

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.

NSVAX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Value Fund II (NSVAX) 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.

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.

	NSVAX	CBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.66	+0.09
Sortino ratio: Return per unit of downside risk	2.47	2.34	+0.13
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	3.30	2.20	+1.10
Martin ratio: Return relative to average drawdown	11.30	9.11	+2.19

NSVAX vs. CBALX - Sharpe Ratio Comparison

The current NSVAX Sharpe Ratio is 1.75, which is comparable to the CBALX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of NSVAX 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.

Drawdowns

NSVAX vs. CBALX - Drawdown Comparison

The maximum NSVAX drawdown since its inception was -59.32%, which is greater than CBALX's maximum drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for NSVAX and CBALX.

Drawdown Indicators

	NSVAX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-34.53%	-24.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-6.63%	-2.88%
Max Drawdown (3Y) Largest decline over 3 years	-27.11%	-12.06%	-15.05%
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	-20.91%	-6.20%
Max Drawdown (10Y) Largest decline over 10 years	-48.33%	-22.73%	-25.60%
Current Drawdown Current decline from peak	-4.55%	-1.97%	-2.58%
Average Drawdown Average peak-to-trough decline	-9.72%	-5.30%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	1.60%	+1.17%

Volatility

NSVAX vs. CBALX - Volatility Comparison

Columbia Small Cap Value Fund II (NSVAX) has a higher volatility of 7.40% compared to Columbia Balanced Fund (CBALX) at 3.80%. This indicates that NSVAX'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

	NSVAX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	3.80%	+3.60%
Volatility (6M) Calculated over the trailing 6-month period	13.21%	7.13%	+6.08%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	8.83%	+9.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.51%	11.18%	+11.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.93%	11.36%	+12.57%

NSVAX vs. CBALX - Expense Ratio Comparison

NSVAX has a 1.02% expense ratio, which is higher than CBALX's 0.67% expense ratio.

Dividends

NSVAX vs. CBALX - Dividend Comparison

NSVAX's dividend yield for the trailing twelve months is around 9.92%, more than CBALX's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBALX Columbia Balanced Fund	6.26%	6.42%	7.83%	1.84%	5.36%	9.26%	5.31%	4.16%	5.82%	2.79%	1.60%	4.05%
NSVAX Columbia Small Cap Value Fund II	9.92%	15.89%	29.38%	6.93%	6.46%	13.95%	0.83%	3.68%	14.97%	9.10%	5.23%	12.66%

Frequently Asked Questions

Can I hold both NSVAX and CBALX in my portfolio?

NSVAX and CBALX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NSVAX or CBALX?

NSVAX has higher volatility (7.40%) compared to CBALX (3.80%). In terms of maximum drawdown, NSVAX dropped -59.32% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

NSVAX currently has the higher Sharpe Ratio (1.75 vs 1.66), 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.