Fund Evaluator:

Columbia Small Cap Index A Overview

Columbia Small Cap Index A (NMSAX) is a passively managed U.S. Equity Small Blend fund. Columbia Threadneedle launched the fund in 1996.

The investment seeks total return before fees and expenses that corresponds to the total return of the Standard & Poor's (S&P) SmallCap 600® Index. Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks that comprise the S&P SmallCap 600 Index. The Investment Manager attempts to achieve at least a 95% correlation between the performance of the index and the fund's investment results, before fees and expenses. The fund may invest in derivatives, such as futures (including equity index futures), for cash equitization purposes.

About Columbia Small Cap Index A (NMSAX)

There are 2 members of the management team with an average tenure of 6.20 years: Christopher Lo (2014), Shirley Wang (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P SmallCap 600 TR USD index with a weighting of 100%. Columbia Small Cap Index A has 608 securities in its portfolio. The top 10 holdings constitute 7.1% 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 Small Cap Index A is part of the Equity global asset class and is within the U.S. Equity fund group. Columbia Small Cap Index A has 0.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.6%. There is 0.7% 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). Columbia Small Cap Index A has -0.2% of the portfolio in cash.

Assets Under Management

The fund has $719 million in total assets, which is above the $694 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.

NMSAX 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 Small Cap Index A expense ratio is average compared to funds in the Small Blend category. Columbia Small Cap Index A has an expense ratio of 0.45%, which is 57% 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. Columbia Small Cap Index A has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Small Blend category.

Recently, in the month of June 2026, Columbia Small Cap Index A returned 7.2%, which earned it a grade of B, as the Small Blend category had an average return of 5.9%. 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 Small Cap Index A has a trailing yield of 0.88%, which is above the 0.41% category average. The fund normally distributes its income semi-annually and its capital gains semi-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 Small Cap Index A Grades

Year to date, the fund has returned 23.6%, 1.9 percentage points better than the category, which translates into a grade of B. The fund has returned 36.9% over the past year (grade of C), 15.6% over the past three years (grade of C) and 6.9% per year over the past five years (grade of D) and 11.0% per year over the past 10 years (grade of C).

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