Fund Evaluator:
Column Small Cap (CFSLX)
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Best Performing in Small Blend Over the Last Year
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Fund Details
Column Small Cap Overview
Column Small Cap (CFSLX) is an actively managed U.S. Equity Small Blend fund. Column Funds launched the fund in 2023.
The investment seeks long-term capital appreciation. Under normal market conditions, the fund will invest at least 80% of net assets (plus any borrowings for investment purposes) in common stocks of small capitalization companies (“small-cap companies”). The fund manager defines small-cap companies as companies with market capitalizations within the collective range of the Russell 2000® and S&P SmallCap 600® Indices.
About Column Small Cap (CFSLX)
There are 24 members of the management team with an average tenure of 2.59 years: Brett Reiner (2023), James Eisenman (2023), Todd Beiley (2023), Daniel Ong (2023), Steven Raineri (2023), Jon Christensen (2023), Amit Solomon (2023), Gregory Spiegel (2023), Christopher Meeker (2023), Jackie Wagner (2023), Jeff Hoernemann (2023), Mitchell Firestein (2023), Eduardo Repetto (2023), Ted Randall (2023), Nicholas Karzon (2023), James McAree (2023), Eric Gandhi (2023), Matthew Dubin (2025), Chris Wallis (2023), Adam Xiao (2026), Robert D'Alelio (2023), Richard Shuster (2023), Gregory Weiss (2023), Benjamin Nahum (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. Column Small Cap has 992 securities in its portfolio. The top 10 holdings constitute 10.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Column Small Cap is part of the Equity global asset class and is within the U.S. Equity fund group. Column Small Cap has 5.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 90.7%. There is 5.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Column Small Cap has 3.6% of the portfolio in cash.
Assets Under Management
The fund has $544 million in total assets, which is below the $683 million average for the Small Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CFSLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Column Small Cap expense ratio is above average compared to funds in the Small Blend category. Column Small Cap has an expense ratio of 0.63%, which is 40% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Column Small Cap. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.
Recently, in the month of August 2026, Column Small Cap returned 0.5%, which earned it a grade of B, as the Small Blend category had an average return of -0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Column Small Cap has a trailing yield of 0.67%, which is above the 0.43% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Column Small Cap Grades
Year to date, the fund has returned 16.4%, 1.6 percentage points worse than the category, which translates into a grade of D. The fund has returned 17.7% over the past year (grade of D).
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CFSLX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CFSLX Return (NAV) | 0.5% | 4.2% | 17.7% | na | na | na |
| CFSLX Grade | B | B | D | na | na | na |
| +/- Category | 0.6% | 1.4% | -3.3% | na | na | na |
| Small Blend Avg | -0.1% | 2.8% | 21.0% | 14.8% | 7.2% | 10.2% |
| CFSLX Tax Cost Ratio | na | na | 1.8% | na | na | na |
CFSLX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CFSLX Return (NAV) | 16.4% | 4.8% | 10.0% | na | na | na | na | na | na | na | na |
| CFSLX Grade | D | D | D | na | na | na | na | na | na | na | na |
| +/- Category | -1.6% | -3.2% | -1.5% | na | na | na | na | na | na | na | na |
| Small Blend Avg | 18.1% | 8.0% | 11.5% | 16.6% | -16.5% | 23.3% | 14.4% | 25.5% | -11.9% | 13.9% | 20.4% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $544 Mil |
| Fund Total Assets: | $ 544 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 24 | |||
| Longest Tenure: 2.7 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Reiner Brett (2023), Eisenman James (2023), Beiley Todd (2023), Ong Daniel (2023), Raineri Steven (2023), Christensen Jon (2023), Solomon Amit (2023), Spiegel Gregory (2023), Meeker Christopher (2023), Wagner Jackie (2023), Hoernemann Jeff (2023), Firestein Mitchell (2023), Repetto Eduardo (2023), Randall Ted (2023), Karzon Nicholas (2023), McAree James (2023), Gandhi Eric (2023), D'Alelio Robert (2023), Shuster Richard (2023), Weiss Gregory (2023), Nahum Benjamin (2023), Wallis Chris (2023), Dubin Matthew (2025), Xiao Adam (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 992 |
| % in Top 10 Holdings: | 10.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.7% |
Portfolio Allocation |
|
| Domestic Stock: | 90.7% |
| Foreign Stock: | 5.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.6% |
Purchase Information
| Fund Family: | Column Funds |
| Phone Number: | 866-950-4644 |
| Website: |
| Status: | Open |
| Inception Date: | December 11, 2023 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.63% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Column Small Cap |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
