Columbia Adaptive Risk Allocation Fund
COLUMBIA FUNDS SERIES TRUST I · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Columbia Adaptive Risk Allocation Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2025 Q3
Columbia Adaptive Risk Allocation Fund (the Fund) pursues consistent total returns by seeking to allocate risks across multiple asset classes.
The fund allocates risk across multiple asset classes—equities, inflation hedges, and fixed income in U.S. and non-U.S. markets—by identifying distinct market states and adjusting strategic allocations accordingly, with tactical shifts in response to changing conditions. The Investment Manager may use leverage within asset classes and take short positions to maintain target risk exposures. The fund may invest all of its assets in underlying funds rather than holding securities directly, and may hold significant cash when market conditions warrant no market positions. Because allocations of risk to asset classes differ significantly across market states and the fund employs tactical adjustments, actual holdings and exposures will vary with the Investment Manager's assessment of market conditions.
| Share class | Expense ratio |
|---|---|
| CRAAX | 1.06% |
| CRACX | 1.81% |
| CRDRX | 0.82% |
| CRAZX | 0.81% |
| CARYX | 0.77% |
| CRADX | 0.81% |
Portfolio turnover 186.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Cash & short-term | 44.95% |
| Bonds | 39.55% |
| Stocks | 6.53% |
| Securitized | 5.91% |
| Derivatives | 5.01% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Largest new: Chicago Mercantile Exchange, MEX BONOS DESARR FIX RT, UMBS, TBA ×2, ICE Futures U.S., Inc., Intercontinental Exchange, Inc., INDONESIA GOVERNMENT, POLAND GOVERNMENT BOND
Largest exited: UMBS, TBA ×4, ICE Futures U.S., Inc. ×2, Sweden Government Bonds, Netherlands Government Bonds
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +21.60% | +38.34% | +29.99% | 7.13% | -7.84% | |
| +20.71% | +35.27% | +25.16% | 7.09% | -7.95% | |
| — | — | — | — | — | |
| +21.86% | +39.32% | +31.48% | 7.07% | -7.80% | |
| +21.86% | +39.27% | +31.46% | 7.17% | -7.70% | |
| — | — | — | — | — | |
| +22.01% | +39.48% | +31.81% | 7.26% | -7.68% | |
| +21.95% | — | — | 7.09% | — |
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 8.5% |
| 3-5y | 7.1% |
| 5-10y | 57.8% |
| 10y+ | 26.6% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 62% |
| Credit spreads | 38% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.05 yr |
| Investment grade | +0.56 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.19 yr | 4% |
| 5 yr | 1.14 yr | 26% |
| 10 yr | 2.37 yr | 55% |
| 30 yr | 0.61 yr | 14% |
| 3 mo | 0.31 yr | 12% |
| 1 yr | 0.01 yr | 0% |
| 5 yr | 1.96 yr | 75% |
| 10 yr | 0.23 yr | 9% |
| 30 yr | 0.09 yr | 4% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.25 | +0.06 | $65.1k | $15.9k |
| 1 yr | +0.19 | +0.01 | +0.00 | $2.6k | $0 |
| 5 yr | +1.14 | +0.07 | +1.89 | $19.0k | $489.2k |
| 10 yr | +2.37 | +0.21 | +0.02 | $55.0k | $4.9k |
| 30 yr | +0.61 | +0.01 | +0.08 | $2.3k | $21.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 4.34 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | COLUMBIA SHORT TERM CASH FUND | 41.51% | — | $1.07B | — |
| CCFYX | COLUMBIA COMMODITY STRATEGY FUNDCCFYX | 8.62% | $13.52 | $223.11M | 16.5M |
| — | United States Treasury3.38% · due 2033-05-15 | 4.14% | — | $107.20M | — |
| — | Chicago Mercantile Exchange | 2.87% | — | $74.22M | — |
| — | MEX BONOS DESARR FIX RT8.00% · due 2036-02-21 | 2.06% | — | $53.32M | — |
| — | United States Treasury4.38% · due 2034-05-15 | 1.82% | — | $47.11M | — |
| — | Canada Government Bonds3.00% · due 2034-06-01 | 1.06% | — | $27.32M | — |
| — | United States Treasury3.38% · due 2032-04-15 | 1.00% | — | $25.93M | — |
| — | UMBS, TBA3.00% · due 2056-06-01 | 0.99% | — | $25.59M | — |
| — | United States Treasury0.88% · due 2029-01-15 | 0.89% | — | $23.13M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
Top 10 positions are 64.96% of net assets, top 25 75.61%, across 228 issuers.
See more of this fund's book
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