SMGIX vs. CBALX

Last updated Jun 4, 2026

SMGIX (Columbia Contrarian Core Fund) and CBALX (Columbia Balanced Fund) are both mutual funds - SMGIX is a Large Cap Blend Equities fund managed by Columbia, while CBALX is a Diversified Portfolio fund managed by Columbia. Over the past 10 years, SMGIX returned 14.78%/yr vs 10.10%/yr for CBALX. With a 0.96 correlation, they move nearly in lockstep. SMGIX charges 0.75%/yr vs 0.67%/yr for CBALX.

Performance

SMGIX vs. CBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Contrarian Core Fund (SMGIX) 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, SMGIX achieves a 10.46% return, which is significantly higher than CBALX's 6.82% return. Over the past 10 years, SMGIX has outperformed CBALX with an annualized return of 14.78%, while CBALX has yielded a comparatively lower 10.10% annualized return.

SMGIX

• 1D: 0.05%
• 1M: 6.24%
• YTD: 10.46%
• 6M: 10.80%
• 1Y: 27.40%
• 3Y*: 22.05%
• 5Y*: 13.42%
• 10Y*: 14.78%

CBALX

• 1D: 0.05%
• 1M: 4.12%
• YTD: 6.82%
• 6M: 7.03%
• 1Y: 19.03%
• 3Y*: 15.37%
• 5Y*: 8.48%
• 10Y*: 10.10%

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

SMGIX vs. CBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMGIX Columbia Contrarian Core Fund	10.46%	17.35%	23.33%	32.12%	-18.64%	24.18%	22.21%	32.95%	-8.95%	20.57%
CBALX Columbia Balanced Fund	6.82%	14.14%	14.60%	21.49%	-16.63%	14.92%	17.91%	23.05%	-5.75%	14.29%

Correlation

The correlation between SMGIX and CBALX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 21, 1996	0.96

The correlation between SMGIX and CBALX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

SMGIX vs. CBALX — Risk / Return Rank

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

SMGIX

SMGIX Risk / Return Rank: 58
SMGIX Sharpe Ratio Rank: 63
SMGIX Sortino Ratio Rank: 56
SMGIX Omega Ratio Rank: 57
SMGIX Calmar Ratio Rank: 55
SMGIX Martin Ratio Rank: 59

CBALX

CBALX Risk / Return Rank: 64
CBALX Sharpe Ratio Rank: 66
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.

SMGIX vs. CBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Contrarian Core Fund (SMGIX) 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.

	SMGIX	CBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.39	-0.06
Sortino ratio: Return per unit of downside risk	3.15	3.38	-0.24
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	2.85	2.96	-0.11
Martin ratio: Return relative to average drawdown	11.72	12.71	-0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMGIX vs. CBALX - Sharpe Ratio Comparison

The current SMGIX Sharpe Ratio is 2.34, which is comparable to the CBALX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of SMGIX 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

	SMGIX	CBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.39	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.77	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.89	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.71	-0.01

Drawdowns

SMGIX vs. CBALX - Drawdown Comparison

The maximum SMGIX drawdown since its inception was -50.62%, which is greater than CBALX's maximum drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for SMGIX and CBALX.

Drawdown Indicators

	SMGIX	CBALX	Difference
Max Drawdown Largest peak-to-trough decline	-50.62%	-34.53%	-16.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-6.63%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-12.06%	-7.86%
Max Drawdown (5Y) Largest decline over 5 years	-32.20%	-20.91%	-11.29%
Max Drawdown (10Y) Largest decline over 10 years	-32.45%	-22.73%	-9.72%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.74%	-5.31%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	1.54%	+0.88%

Volatility

SMGIX vs. CBALX - Volatility Comparison

Columbia Contrarian Core Fund (SMGIX) has a higher volatility of 3.03% compared to Columbia Balanced Fund (CBALX) at 2.39%. This indicates that SMGIX'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

	SMGIX	CBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	2.39%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.05%	6.35%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	8.21%	+3.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	11.08%	+7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	11.34%	+7.64%

SMGIX vs. CBALX - Expense Ratio Comparison

SMGIX has a 0.75% expense ratio, which is higher than CBALX's 0.67% expense ratio.

Dividends

SMGIX vs. CBALX - Dividend Comparison

SMGIX's dividend yield for the trailing twelve months is around 6.69%, 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%
SMGIX Columbia Contrarian Core Fund	6.69%	7.39%	9.69%	3.08%	10.61%	13.70%	7.69%	5.87%	10.17%	4.89%	0.76%	5.86%

Frequently Asked Questions

Can I hold both SMGIX and CBALX in my portfolio?

With a correlation of 0.98, SMGIX and CBALX 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, SMGIX or CBALX?

SMGIX has higher volatility (3.03%) compared to CBALX (2.39%). In terms of maximum drawdown, SMGIX dropped -50.62% vs CBALX's -34.53%.

Which has better risk-adjusted returns?

CBALX currently has the higher Sharpe Ratio (2.39 vs 2.34), 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.