Fund Evaluator:
Columbia Mortgage Opportunities S (CLMDX)
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Best Performing in Securitized Bond - Diversified Over the Last Year
| 6.9% | Putnam Mortgage Opportunities Y (PMOYX) |
| 5.6% | Putnam Mortgage Securities Y (PUSYX) |
| 4.2% | Medlst MBS Ttl Rtn Inv (SEMPX) |
| 4.0% | Payden Securitized Income Investor (PYSFX) |
| 3.9% | Diamond Hill Short Dur Securitized BdInv (DHEAX) |
Fund Details
Columbia Mortgage Opportunities S Overview
Columbia Mortgage Opportunities S (CLMDX) is an actively managed Taxable Bond Securitized Bond - Diversified fund. Columbia Threadneedle launched the fund in 2024.
The investment seeks total return, consisting of long-term capital appreciation and current income. Under normal circumstances, the fund will invest at least 80% of its net assets (including the amount of any borrowings for investment purposes) in mortgage-related assets. It may invest in debt instruments of any maturity and does not seek to maintain either a particular dollar-weighted average maturity or a particular duration.
About Columbia Mortgage Opportunities S (CLMDX)
There are 3 members of the management team with an average tenure of 10.75 years: Jason Callan (2014), Thomas Heuer (2014), Ryan Osborn (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and FTSE Treasury Bill 1 Mon USD index with a weighting of 100%. Columbia Mortgage Opportunities S has 496 securities in its portfolio. The top 10 holdings constitute 50.6% 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.
Columbia Mortgage Opportunities S is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Columbia Mortgage Opportunities S has 3.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.4%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.7% (96.0% domestic bond, 3.7% foreign bond and 0.0% convertible bond). Columbia Mortgage Opportunities S has -0.4% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $538 million average for the Securitized Bond - Diversified 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.
CLMDX 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 Columbia Mortgage Opportunities S expense ratio is above average compared to funds in the Securitized Bond - Diversified category. Columbia Mortgage Opportunities S has an expense ratio of 0.79%, which is 22% lower than its category average, making the fund expense ratio grade a C. 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. Columbia Mortgage Opportunities S has a portfolio turnover rate of 650%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 359% for the Securitized Bond - Diversified category.
Recently, in the month of August 2026, Columbia Mortgage Opportunities S returned 0.2%, which earned it a grade of F, as the Securitized Bond - Diversified category had an average return of 0.3%. 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.
Columbia Mortgage Opportunities S has a trailing yield of 5.29%, which is above the 5.13% category average. The fund normally distributes its income monthly 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.
Columbia Mortgage Opportunities S Grades
Year to date, the fund has returned 0.4%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 3.3% over the past year (grade of C), 7.9% over the past three years (grade of A) and 0.8% per year over the past five years (grade of D) and 4.1% per year over the past 10 years (grade of A).
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CLMDX 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 |
|
| CLMDX Return (NAV) | 0.2% | -0.6% | 3.3% | 7.9% | 0.8% | 4.1% |
| CLMDX Grade | F | D | C | A | D | A |
| +/- Category | -0.1% | -0.6% | -0.1% | 1.6% | -1.3% | 1.6% |
| Securitized Bond - Diversified Avg | 0.3% | -0.0% | 3.4% | 6.3% | 2.2% | 2.6% |
| CLMDX Tax Cost Ratio | na | na | 2.1% | na | na | na |
CLMDX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CLMDX Return (NAV) | 0.4% | 11.9% | 5.3% | 7.6% | -17.8% | 5.4% | 9.3% | 6.4% | 7.9% | 5.4% | 6.7% |
| CLMDX Grade | D | A | C | B | F | A | A | C | A | B | A |
| +/- Category | -0.9% | 3.8% | -0.5% | 0.9% | -8.5% | 3.6% | 7.9% | -0.7% | 6.0% | 1.2% | 3.6% |
| Securitized Bond - Diversified Avg | 1.4% | 8.1% | 5.7% | 6.6% | -9.3% | 1.8% | 1.3% | 7.2% | 1.9% | 4.2% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 7.4% |
| Total Risk Index: | 0.61 - Below Average |
| Category Risk Index: | 1.65 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 1.28 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 5.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2625 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 650% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 12.4 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): Callan Jason (2014), Heuer Thomas (2014), Osborn Ryan (2019) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 496 |
| % in Top 10 Holdings: | 50.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.0% |
| Foreign Bond: | 3.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | -0.4% |
Purchase Information
| Fund Family: | Columbia Threadneedle |
| Phone Number: | 800-345-6611 |
| Website: | www.columbiamanagement.com |
| Status: | Open |
| Inception Date: | October 2, 2024 |
| 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: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.79% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Columbia Mortgage Opportunities Inst2 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
