- Issuer
- Six Circles
- Inception Date
- Nov 22, 2020
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
CRDOX Performance Chart
Six Circles Credit Opportunities Fund (CRDOX) is up 2.5% since the beginning of the year. CRDOX is currently trading at $9 per share. Investors who bought $1,000 worth of CRDOX shares 5 years ago would now be looking at an investment worth $1,177.
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Returns By Period
Six Circles Credit Opportunities Fund (CRDOX) has returned 2.48% so far this year and 8.01% over the past 12 months.
Six Circles Credit Opportunities Fund
- 1D
- 0.11%
- 1M
- 1.16%
- YTD
- 2.48%
- 6M
- 2.72%
- 1Y
- 8.01%
- 3Y*
- 7.90%
- 5Y*
- 3.31%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CRDOX Monthly Returns History
Based on dividend-adjusted daily data since Nov 23, 2020, CRDOX's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2023 with a return of +4.2%, while the worst month was Jun 2022 at -6.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, CRDOX closed higher 42% of trading days. The best single day was Nov 10, 2022 with a return of +1.3%, while the worst single day was Jun 13, 2022 at -1.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.74% | 0.59% | -2.21% | 2.12% | 0.71% | 0.56% | 2.48% | ||||||
| 2025 | 0.68% | 0.34% | -1.67% | 0.37% | 1.50% | 1.60% | 0.90% | 1.12% | 0.78% | 0.66% | 0.46% | 0.56% | 7.48% |
| 2024 | 0.56% | 0.43% | 1.17% | -0.77% | 1.42% | 0.94% | 1.55% | 1.48% | 1.25% | -0.47% | 1.04% | -0.20% | 8.69% |
| 2023 | 4.13% | -1.62% | 0.36% | -0.23% | -1.57% | 1.78% | 0.83% | -0.87% | -0.61% | -1.55% | 4.23% | 3.15% | 8.06% |
| 2022 | -2.15% | -1.58% | -0.94% | -1.79% | -1.23% | -5.99% | 3.70% | -0.96% | -5.20% | 0.67% | 3.92% | 0.85% | -10.62% |
| 2021 | -0.00% | 0.19% | -0.47% | 0.76% | -0.10% | 1.07% | 0.28% | 0.37% | -0.01% | -0.20% | -0.78% | 1.55% | 2.66% |
Benchmark Metrics
Six Circles Credit Opportunities Fund has an annualized alpha of 2.05%, beta of 0.11, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since November 23, 2020.
- This fund participated in 33.96% of S&P 500 Index downside but only 24.14% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.11 may look defensive, but with R2 of 0.20 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.20 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.05%
- Beta
- 0.11
- R²
- 0.20
- Upside Capture
- 24.14%
- Downside Capture
- 33.96%
Expense Ratio
CRDOX has an expense ratio of 0.29%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CRDOX ranks 85 for risk / return — in the top 85% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Six Circles Credit Opportunities Fund (CRDOX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CRDOX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.37 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.78 | +0.25 |
| Martin ratioReturn relative to average drawdown | 13.41 | 12.44 | +0.97 |
Dividends
Dividend History
Six Circles Credit Opportunities Fund provided a 6.58% dividend yield over the last twelve months, with an annual payout of $0.60 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.60 | $0.47 | $0.62 | $0.60 | $0.51 | $0.28 | $0.03 |
Dividend yield | 6.58% | 5.18% | 6.96% | 6.86% | 5.82% | 2.73% | 0.33% |
Monthly Dividends
The table displays the monthly dividend distributions for Six Circles Credit Opportunities 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 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.00 | $0.23 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.02 | $0.07 | $0.07 | $0.47 |
| 2024 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.03 | $0.08 | $0.06 | $0.62 |
| 2023 | $0.06 | $0.07 | $0.05 | $0.00 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.00 | $0.06 | $0.06 | $0.60 |
| 2022 | $0.03 | $0.04 | $0.05 | $0.05 | $0.04 | $0.03 | $0.05 | $0.05 | $0.00 | $0.05 | $0.06 | $0.05 | $0.51 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.28 |
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 Credit Opportunities 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 Credit Opportunities Fund was 15.92%, occurring on Oct 21, 2022. Recovery took 411 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -15.92%Oct 2022 | 9mo 26d | 1y 7mo | 2y 5moDec 2021 - Jun 2024 |
2025 selloff2025 | -4.66%Apr 2025 | 1mo 11d | 2mo 2d | 3mo 13dFeb 2025 - Jun 2025 |
2026 pullback2026 | -2.70%Mar 2026 | 1mo 1d | 21d | 1mo 22dFeb 2026 - Apr 2026 |
2021 pullback2021 | -1.64%Mar 2021 | 1mo | 1mo 20d | 2mo 20dFeb 2021 - May 2021 |
2021 pullback2021 | -1.47%Nov 2021 | 2mo 3d | 1mo 1d | 3mo 4dSep 2021 - Dec 2021 |
Drawdown Indicators
| CRDOX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.92% | -56.78% | +40.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -9.10% | +6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -18.90% | +14.24% |
Max Drawdown (5Y)Largest decline over 5 years | -15.92% | -25.43% | +9.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -10.71% | +7.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.03% | -1.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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