SMGIX vs. CMNWX

Last updated Aug 1, 2026

SMGIX (Columbia Contrarian Core Fund) and CMNWX (Principal Capital Appreciation Fund) are both Large Cap Blend Equities funds. Over the past 10 years, SMGIX returned 14.27%/yr vs 14.88%/yr for CMNWX. Their correlation of 0.91 means they have usually moved in the same direction. SMGIX charges 0.75%/yr vs 0.80%/yr for CMNWX.

Performance

SMGIX vs. CMNWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Contrarian Core Fund (SMGIX) and Principal Capital Appreciation Fund (CMNWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMGIX achieves a 8.65% return, which is significantly higher than CMNWX's 8.06% return. Both investments have delivered pretty close results over the past 10 years, with SMGIX having a 14.27% annualized return and CMNWX not far ahead at 14.88%.

SMGIX

• 1D: 1.91%
• 1M: -0.45%
• 6M: 8.07%
• YTD: 8.65%
• 1Y: 17.77%
• 3Y*: 18.50%
• 5Y*: 12.17%
• 10Y*: 14.27%
• ALL TIME*: 13.12%

CMNWX

• 1D: 1.67%
• 1M: -1.13%
• 6M: 6.58%
• YTD: 8.06%
• 1Y: 17.20%
• 3Y*: 19.55%
• 5Y*: 12.95%
• 10Y*: 14.88%
• ALL TIME*: 14.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CMNWX Principal Capital Appreciation Fund	$0.00	$0.00	$0.00
SMGIX Columbia Contrarian Core Fund	$0.00	$0.00	$0.00

SMGIX vs. CMNWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMGIX Columbia Contrarian Core Fund	8.65%	17.35%	23.33%	32.12%	-18.64%	24.18%	22.21%	32.95%	-8.95%	20.57%
CMNWX Principal Capital Appreciation Fund	8.06%	13.27%	32.14%	25.01%	-16.37%	27.45%	18.36%	32.21%	-4.12%	20.64%

Correlation

The correlation between SMGIX and CMNWX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	0.91

The correlation between SMGIX and CMNWX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

SMGIX vs. CMNWX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMGIX

SMGIX Risk / Return Rank: 40
SMGIX Sharpe Ratio Rank: 41
SMGIX Sortino Ratio Rank: 38
SMGIX Omega Ratio Rank: 39
SMGIX Calmar Ratio Rank: 39
SMGIX Martin Ratio Rank: 44

CMNWX

CMNWX Risk / Return Rank: 42
CMNWX Sharpe Ratio Rank: 38
CMNWX Sortino Ratio Rank: 36
CMNWX Omega Ratio Rank: 35
CMNWX Calmar Ratio Rank: 44
CMNWX Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMGIX vs. CMNWX - Risk-Adjusted Trends Comparison

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

	SMGIX	CMNWX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.14	+0.05
Sortino ratio: Return per unit of downside risk	1.67	1.62	+0.05
Omega ratio: Gain probability vs. loss probability	1.21	1.20	+0.01
Calmar ratio: Return relative to maximum drawdown	1.59	1.71	-0.12
Martin ratio: Return relative to average drawdown	6.14	7.29	-1.15

SMGIX vs. CMNWX - Sharpe Ratio Comparison

The current SMGIX Sharpe Ratio is 1.19, which is comparable to the CMNWX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of SMGIX and CMNWX, 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

SMGIX vs. CMNWX - Drawdown Comparison

The maximum SMGIX drawdown since its inception was -50.62%, roughly equal to the maximum CMNWX drawdown of -50.43%. Use the drawdown chart below to compare losses from any high point for SMGIX and CMNWX.

Drawdown Indicators

	SMGIX	CMNWX	Difference
Max Drawdown Largest peak-to-trough decline	-50.62%	-50.43%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-8.91%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.92%	-19.54%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-32.20%	-23.35%	-8.85%
Max Drawdown (10Y) Largest decline over 10 years	-32.45%	-33.26%	+0.81%
Current Drawdown Current decline from peak	-1.98%	-2.47%	+0.49%
Average Drawdown Average peak-to-trough decline	-6.72%	-6.92%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.08%	+0.50%

Volatility

SMGIX vs. CMNWX - Volatility Comparison

Columbia Contrarian Core Fund (SMGIX) has a higher volatility of 3.78% compared to Principal Capital Appreciation Fund (CMNWX) at 3.39%. This indicates that SMGIX's price experiences larger fluctuations and is considered to be riskier than CMNWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMGIX	CMNWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	3.39%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	10.46%	10.45%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	13.39%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.11%	16.94%	+2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	17.20%	+1.78%

SMGIX vs. CMNWX - Expense Ratio Comparison

SMGIX has a 0.75% expense ratio, which is lower than CMNWX's 0.80% expense ratio.

Dividends

SMGIX vs. CMNWX - Dividend Comparison

SMGIX's dividend yield for the trailing twelve months is around 6.80%, less than CMNWX's 8.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMNWX Principal Capital Appreciation Fund	8.10%	8.75%	10.03%	0.71%	0.69%	9.52%	5.33%	8.37%	46.60%	7.72%	10.32%	5.42%
SMGIX Columbia Contrarian Core Fund	6.80%	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 CMNWX in my portfolio?

With a correlation of 0.96, SMGIX and CMNWX 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 CMNWX?

SMGIX has higher volatility (3.78%) compared to CMNWX (3.39%). In terms of maximum drawdown, SMGIX dropped -50.62% vs CMNWX's -50.43%.

Which has better risk-adjusted returns?

SMGIX currently has the higher Sharpe Ratio (1.19 vs 1.14), 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.