- ISIN
- US83002G4055
- Issuer
- Six Circles
- Inception Date
- Jul 9, 2018
- Category
- Foreign Large Cap Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
CIUEX Performance Chart
Six Circles International Unconstrained Equity Fund (CIUEX) is up 8.6% since the beginning of the year. CIUEX is currently trading at $15 per share. Investors who bought $1,000 worth of CIUEX shares 5 years ago would now be looking at an investment worth $1,560.
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Returns By Period
Six Circles International Unconstrained Equity Fund (CIUEX) has returned 8.59% so far this year and 21.28% over the past 12 months.
Six Circles International Unconstrained Equity Fund
- 1D
- 0.33%
- 1M
- 4.08%
- YTD
- 8.59%
- 6M
- 12.09%
- 1Y
- 21.28%
- 3Y*
- 16.73%
- 5Y*
- 9.30%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
CIUEX Monthly Returns History
Based on dividend-adjusted daily data since Jul 26, 2018, CIUEX's average daily return is +0.04%, while the average monthly return is +0.76%. At this rate, an investment would double in approximately 7.6 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2020 with a return of +15.5%, while the worst month was Mar 2020 at -16.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, CIUEX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +8.8%, while the worst single day was Mar 12, 2020 at -12.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.41% | 3.97% | -8.49% | 5.90% | 2.31% | -0.07% | 8.59% | ||||||
| 2025 | 5.82% | 4.34% | -0.59% | 4.19% | 4.84% | 2.19% | -2.99% | 4.03% | 2.50% | 0.59% | 1.32% | 3.90% | 34.22% |
| 2024 | 0.37% | 2.97% | 4.05% | -2.85% | 5.88% | -1.77% | 1.37% | 3.38% | -0.49% | -5.91% | -1.83% | -2.26% | 2.29% |
| 2023 | 9.57% | -1.77% | 2.10% | 3.82% | -4.52% | 4.44% | 2.08% | -3.89% | -4.62% | -2.42% | 9.21% | 4.89% | 18.98% |
| 2022 | -3.24% | -3.91% | -0.39% | -5.45% | 2.16% | -9.87% | 5.14% | -7.01% | -9.60% | 8.34% | 14.59% | -2.42% | -13.67% |
| 2021 | -1.50% | 1.42% | 4.01% | 3.28% | 4.39% | -1.43% | 1.09% | 1.89% | -5.73% | 5.42% | -4.88% | 6.03% | 14.00% |
Benchmark Metrics
Six Circles International Unconstrained Equity Fund has an annualized alpha of -1.19%, beta of 0.77, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since July 27, 2018.
- This fund participated in 91.69% of S&P 500 Index downside but only 75.35% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -1.19%
- Beta
- 0.77
- R²
- 0.62
- Upside Capture
- 75.35%
- Downside Capture
- 91.69%
Expense Ratio
CIUEX has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
CIUEX ranks 22 for risk / return — below 22% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Six Circles International Unconstrained Equity Fund (CIUEX) and compare them to S&P 500 Index.
| CIUEX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.31 | 2.24 | -0.93 |
Sortino ratioReturn per unit of downside risk | 1.91 | 3.07 | -1.16 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.41 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.93 | -1.19 |
Martin ratioReturn relative to average drawdown | 6.42 | 13.52 | -7.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Six Circles International Unconstrained Equity Fund provided a 2.91% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.44 | $0.44 | $0.35 | $0.31 | $0.29 | $0.27 | $0.16 | $0.28 |
Dividend yield | 2.91% | 3.16% | 3.25% | 2.87% | 3.14% | 2.44% | 1.59% | 2.87% |
Monthly Dividends
The table displays the monthly dividend distributions for Six Circles International Unconstrained Equity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.44 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.31 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.29 | $0.29 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Six Circles International Unconstrained Equity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Six Circles International Unconstrained Equity Fund was 37.39%, occurring on Mar 23, 2020. Recovery took 176 trading sessions.
The current Six Circles International Unconstrained Equity Fund drawdown is 1.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -37.39%Mar 2020 | 1y 7mo | 8mo 14d | 2y 4moAug 2018 - Dec 2020 |
Bear market2022 | -30.15%Sep 2022 | 10mo 27d | 1y 2mo | 2y 1moNov 2021 - Dec 2023 |
2025 selloff2025 | -13.99%Apr 2025 | 20d | 24d | 1mo 14dMar 2025 - May 2025 |
2026 correction2026 | -11.89%Mar 2026 | 29d | — | 3mo 8dFeb 2026 - now |
2025 correction2025 | -11.32%Jan 2025 | 3mo 18d | 1mo 21d | 5mo 9dSep 2024 - Mar 2025 |
Drawdown Indicators
| CIUEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -56.78% | +19.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.89% | -9.10% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.99% | -18.90% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -30.15% | -25.43% | -4.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.12% | -0.74% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -10.72% | +4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 1.97% | +1.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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