Columbia Diversified Fixed Income Allocation ETF

Columbia Diversified Fixed Income Allocation ETF (DIAL) tracks the Beta Advantage Multi-Sector Bond Index. The index spreads money across six parts of the bond market, from U.S. Treasurys and mortgage bonds to high-yield corporate bonds and emerging-market government debt. That mix produced a trailing 12-month yield of 5.37% as of October 27, 2026, paid monthly. But its 0.29% expense ratio is well above the 0.06% average of similar bond funds.

• Over the year to Oct 27, 2026, DIAL returned -0.7%, 6th of 8 among similar funds.
• Its 5-year annualized return was +0.3%.
• In the 2020 COVID crash it fell 19.1% and regained its old high 2.7 months after the low.
• Its worst full calendar year was 2022 (-16.2%); its best was 2019 (+14.2%).
• The deepest fall in its price history was 22.2% (Dec 31, 2020 to Oct 20, 2022), recovered by Oct 20, 2025.

As of Jul 31, 2026, the fund held 666 securities; the ten largest made up 19.74% of assets, and 14.49% sat in cash and money-market holdings.

The bonds mature in 12.1 years on average (weighted by size), with an average coupon of 5.67%.

• Over the three months to Jul 31, 2026, investors withdrew a net $22.7M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.58%, +0.09%, -1.20%.

DIAL tracks the Beta Advantage Multi-Sector Bond Index. Bloomberg owns and calculates the index, and Columbia Management developed it with Bloomberg. The index covers six segments: U.S. Treasurys, foreign government bonds, U.S. agency mortgage-backed securities, investment-grade U.S. corporate bonds, high-yield ("junk") corporate bonds, and emerging-market government and government-related debt. Within each segment, the rules weigh yield, credit quality and liquidity (how easily a bond trades). The index is rebalanced every month, usually on the last business day.

The fund does not buy every bond in the index. It uses representative sampling, which means holding a smaller set of bonds chosen to match the index's risk and return. The index had 1,180 holdings as of January 31, 2026. The fund held 666 as of July 31, 2026. Because of sampling, its returns can drift from the index. The manager does not pick bonds on their merits or move to defensive positions when markets fall.

The largest positions are to-be-announced (TBA) contracts on Uniform Mortgage-Backed Securities. These are agreements to buy agency mortgage bonds on a future date, and the biggest was about 5% of assets. Monthly rebalancing adds to portfolio turnover of 199%, which can produce taxable short-term gains. The average maturity was 12.1 years, so prices react noticeably when rates change.

• DIAL charges 0.29% a year, versus an average of 0.06% for the similar funds below (8th of 8, cheapest first).
• Of that, 0.28% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).

It pays monthly from a mix that includes high-yield corporate and emerging-market bonds, so it yields more than a core bond fund but carries more credit risk.

DIAL's trailing 12-month yield was 5.37% as of October 27, 2026. It pays monthly, and the amounts vary. It has not always held up in sell-offs. In the 2020 COVID crash it fell 19.1% in two weeks, then recovered by June 10, 2020. The 2022 bear market hit harder. The fund lost 15.86% that year, its worst calendar year. Its deepest drop, 22.2% from December 2020 to October 2022, took 36 months to recover. Someone who had to sell shares for spending money in 2022 would have sold at low prices. The fund launched in 2017, so it has no 2008 record. Its 0.29% expense ratio comes to $30 in the first year on $10,000 under the SEC's standard example. Similar funds average 0.06%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).