RFRAX vs. CBALX

Last updated Jun 3, 2026

RFRAX (Columbia Floating Rate Fund) and CBALX (Columbia Balanced Fund) are both mutual funds - RFRAX is a Bank Loan fund managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 10 years, RFRAX returned 4.34%/yr vs 10.09%/yr for CBALX. At a 0.29 correlation, their price movements are largely independent. RFRAX charges 1.02%/yr vs 0.67%/yr for CBALX.

Performance

RFRAX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Floating Rate Fund (RFRAX) 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, RFRAX achieves a 1.46% return, which is significantly lower than CBALX's 6.77% return. Over the past 10 years, RFRAX has underperformed CBALX with an annualized return of 4.34%, while CBALX has yielded a comparatively higher 10.09% annualized return.

RFRAX

• 1D: 0.06%
• 1M: 0.72%
• YTD: 1.46%
• 6M: 1.99%
• 1Y: 5.25%
• 3Y*: 7.00%
• 5Y*: 4.59%
• 10Y*: 4.34%

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)

RFRAX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFRAX Columbia Floating Rate Fund	1.46%	5.83%	6.55%	11.01%	-2.90%	4.53%	1.03%	7.60%	0.08%	3.82%
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 RFRAX and CBALX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 4, 2007	0.29

Return for Risk

RFRAX vs. CBALX — Risk / Return Rank

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

RFRAX

RFRAX Risk / Return Rank: 77
RFRAX Sharpe Ratio Rank: 64
RFRAX Sortino Ratio Rank: 96
RFRAX Omega Ratio Rank: 95
RFRAX Calmar Ratio Rank: 74
RFRAX Martin Ratio Rank: 59

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.

RFRAX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Floating Rate Fund (RFRAX) 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.

	RFRAX	CBALX	Difference
Sharpe ratio Return per unit of total volatility	2.35	2.41	-0.06
Sortino ratio Return per unit of downside risk	5.21	3.40	+1.81
Omega ratio Gain probability vs. loss probability	1.76	1.44	+0.32
Calmar ratio Return relative to maximum drawdown	3.37	2.96	+0.41
Martin ratio Return relative to average drawdown	11.74	12.74	-1.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFRAX vs. CBALX - Sharpe Ratio Comparison

The current RFRAX Sharpe Ratio is 2.35, which is comparable to the CBALX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of RFRAX 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

	RFRAX	CBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.41	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.75	0.76	+0.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	0.89	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.71	+0.39

Drawdowns

RFRAX vs. CBALX - Drawdown Comparison

The maximum RFRAX drawdown since its inception was -33.04%, roughly equal to the maximum CBALX drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for RFRAX and CBALX.

Drawdown Indicators

	RFRAX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-33.04%	-34.53%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-6.63%	+4.91%
Max Drawdown (3Y) Largest decline over 3 years	-2.57%	-12.06%	+9.49%
Max Drawdown (5Y) Largest decline over 5 years	-6.90%	-20.91%	+14.01%
Max Drawdown (10Y) Largest decline over 10 years	-21.74%	-22.73%	+0.99%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.26%	-5.31%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	1.54%	-1.05%

Volatility

RFRAX vs. CBALX - Volatility Comparison

The current volatility for Columbia Floating Rate Fund (RFRAX) is 0.51%, while Columbia Balanced Fund (CBALX) has a volatility of 2.38%. This indicates that RFRAX experiences smaller price fluctuations and is considered to be less risky than CBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFRAX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	2.38%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	6.35%	-4.55%
Volatility (1Y) Calculated over the trailing 1-year period	2.26%	8.22%	-5.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.64%	11.08%	-8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.82%	11.34%	-7.52%

RFRAX vs. CBALX - Expense Ratio Comparison

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

Dividends

RFRAX vs. CBALX - Dividend Comparison

RFRAX's dividend yield for the trailing twelve months is around 6.51%, 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%
RFRAX Columbia Floating Rate Fund	6.51%	6.81%	6.62%	7.60%	4.44%	3.08%	3.44%	4.82%	4.41%	3.52%	3.85%	4.10%

Frequently Asked Questions

Can I hold both RFRAX and CBALX in my portfolio?

RFRAX and CBALX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFRAX or CBALX?

CBALX has higher volatility (2.38%) compared to RFRAX (0.51%). In terms of maximum drawdown, RFRAX dropped -33.04% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

CBALX currently has the higher Sharpe Ratio (2.41 vs 2.35), 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.